The Intersection - The Insurance-Canada.ca Blog

Time-Based Insurance and The Data-Driven Broker: A New Model?

Hugh McTavish is a broker on a mission – one that disrupts traditional commercial auto insurance servicing, and, as a byproduct, actually causes clients to understand insurance. And all this because he got bit by the data bug. We’d like to know what you think about his approach. Making data make sense out of insurance… Read more »

Have Pity on the ICTA Jury; It’s Your Fault, After All

The Insurance-Canada.ca Technology Awards (ICTA) jurists are good, honest, hard-working people. So why do we treat them so badly? There is really only one reason:  You made us do it. The least we all can do is take some pity on them and be very kind to them when you seen them in March. About… Read more »

2014 Hits and Misses

As has been our wont since this blog began, we take a stab at predicting trends and directions for insurance and technology in Canada at the beginning of each year.  We also commit to give an honest appraisal at year-end, and ask for your comment. It’s time for the reckoning. For 2014, we highlighted specific areas… Read more »

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 »