The Intersection - The Blog

Can Brokers Manage the Next Wave of IT?

As we look over the topics we have covered in this space, it occurs to us that the brokers might be getting hit with more IT than they expect over the next little while.  We’d like to know what you think, and, if you are part of the broker distribution value chain, what, you think… Read more »

Pragmatic Telematics: Reality Trumps Theory in Chicago

I detected a noticeable change in tone at the Insurance Telematics USA conference held in Chicago last week. In prior years, much of the discussion was prognosis and guesstimation.  This year, the majority of presentations and conversations dealt with real-world issues relating to development, implementation, promotion, and utilization of telematics-based usage-based insurance (UBI). I think… Read more »

Mid-Year Update on 2014 Trends

Before we head off for a good long weekend, we thought we’d celebrate the 2014 mid-point by reflecting on the trends we discerned at the beginning of the year. It looks like we caught a wave or two, and are still waiting when it comes to some others. We’d like your experience: how have your… Read more »

Some (Conditionally) Encouraging News for Brokers

Two recent reports are suggesting that the independent broker channel may have positive prospects, if (big ‘if’) its members can embrace rapidly emerging trends in business and technology.  We’d like your thoughts on this possibility. The channel needs to change as fast as the consumer … A recent Swiss Re Sigma report,  “Digital Distribution in… Read more »

What’s the Lifespan of Insuring Telematically?

Ten Years. Ten years could be the life span of telematics-enabled, usage-based insurance (UBI), and maybe auto insurance itself, according to one expert on autonomous vehicles, speaking at the  Insurance Telematics Canada 2014 conference in Toronto yesterday. Several members of the audience were vocally skeptical, but the Oracle of Omaha was quoted, adding some credibility. … Read more »

UBI and Brokers: Ticket to Ride or Highway to Hell?

By all accounts, telematics-enabled usage-based insurance (UBI) is making  steady progress in the Canadian insurance market.  In spite of active leadership by several broker associations, there does not seem to be consensus among front-line brokers as to what role they should, or could, play with new product and service models driven by UBI. We’re wondering… Read more »

The Internet of Things & Impact on Insurance: A Matter of Give and Take

The Internet of Things (IoT) has entered the mainstream and will impact many parts of our lives.  Insurance will be subject to disruption at levels never seen before.  The IoT will eliminate certain risks (good for insureds, not so good for insurers) but will also introduce new risks and new methods of underwriting existing risks,… Read more »

What Happens When Consumers Know More Than We Do?

A colleague of ours was recently bemoaning the lack of interest that insurers and brokers are taking in new developments such as social and usage-based insurance.  Our friend suggested that without a working knowledge of operational tools, such as social media, and technologies such as  telematics, we’re falling behind our customers and won’t be able… Read more »

AXA: Just a One-Bullet Digital Insurer? (We Think Not)

Recently, our friend Denise Garth from SMA posted a blog on a ‘game-changing’ announcement:  AXA France and Facebook entering into a strategic partnership.  This post has quickly made the rounds and caused the count of exclamation marks in emails and tweets to increase geometrically, as other insurers try to absorb the implications of  a global… Read more »

Changing Driver Behaviour – Can UBI Deliver?

Clearly audible amid the buzz surrounding UBI in Canada is the expectation that it will be effective in changing driver behaviour, i.e., it will help drivers improve their skills. This is exciting because a corollary of improved skill is reduced loss costs making changing driver behaviour an important selling point for insurers contemplating a push… Read more »