The Intersection - The Insurance-Canada.ca Blog

Digital Insurance: What, Why, and How

‘Digital insurance’ is a hot topic within the P&C community. At a high level, consultants and practitioners can rapidly agree on the importance of ‘digitalization’. However, when we start developing and implementing a business case, definitions of the strategies and tasks get a bit murky. Two recent articles help focus on critical criteria. Why do Digital… Read more »

Increasing Policyholder Retention through Telematics-Driven Claims

Auto insurance has one of the highest Net Promotor Scores™ of any industry, yet nearly all auto insurers struggle to engage with their policyholders in a positive and constructive way. Telematics can play a significant role in improving engagement and improving claims management. Low engagement, combined with highly price elastic customers, leads to the insurance… Read more »

If Digital Is Urgent, How Do We Play It?

InsurTech (Insurance Technology)  is a hot topic in the insurance community these days.  But how significant is this trend and how urgently do we have to respond?  We think that the recent  Insurance-Canada.ca Executive Forum (ICEF2016)  provided insight. What do we do and, when do we do it? Writing in PropertyCasualty360, PwC analysts, Jamie Yoder… Read more »

Millennials Leading the Way for Digital Transformation

With 75% of the workforce expected to be made up of digital natives by the year 2025, digital communications are becoming more and more important. I’m not a millennial, but I live with a few of them, and I have noticed some differences. Big Group/Big Differences.  Big Dollars/Big Opportunities. At first I didn’t buy into… Read more »

The Future of Insurance Work?

The insurance industry has a reputation for being a stable, consistent employer with a structured model for talent acquisition and development. But new demands may require additional skills, training, and terms of engagement to meet an emerging disruption. We’d like your thoughts. Insurers and Future Work The noted futurist David Smith produced a white paper… Read more »

Marketing Disruption – The Future of the Insurance Promise

Disruption is challenging the construct of the insurance product, which leads to a crucial question: How do we convince consumers that existing insurance organizations are still needed? A new commercial is starting down this road. And reviewing some alternative ads might be in order. We’d like your thoughts. The End of Automobile Insurance Back in… Read more »

Customer Experience as an Ecosystem: New Opportunities, Old Bugbears

Customer experience (CX) is becoming critical as insurers and brokers look for ways to maintain and grow relationships. One aspect that is less understood is the relationship the client has with other providers. Getting a larger perspective on the ecosystem offers a broader landscape with which to work but can be challenging to operationalize. The… Read more »

Do We Go Outside to Bring InsurTech In?

A recent report documents the geometric increase in organizations and funding dedicated to innovation and disruption in insurance. While the result is a vibrant and robust ecosystem for insurers to navigate, the authors add an important caveat about the actual reach of the efforts, and suggest a trip outside might be in order. “InsurTech” is… Read more »

Kanetix and ClientDesk to Offer New Insurance App Solution

With technology continually revolutionizing the way people communicate, the relationship between company and consumer is also changing at a rapid rate. The insurance industry is not immune to the evolving expectations of consumers, and the recent partnership between Kanetix Ltd. and ClientDesk Inc. will help insurance providers to connect with their clients in ways they’ve… Read more »

Brokers: Are You on the “Digital Expressway” Wave?

In his books Future Shock (1970) and The Third Wave (1980), Alvin Toffler noted the rapidity of change and the emergence of the information age. Today we are experiencing technology-enabled change as described back then. Question: Is insurance catching the wave and moving quickly onto the digital expressway? Based on the 2016 Insurance-Canada.ca Technology Awards… Read more »