The Intersection - The Insurance-Canada.ca Blog

One Step Towards Customized Pricing

Location has an impact on individuals’ everyday activities. Choosing to take up residence far from work increases daily travel time and higher accident risk. Residing in a poorly lit neighbourhood increases the chances of break-ins. Living close to waterways entails flood associated risks. These variables have been taken into account for years when establishing the… Read more »

Robo-Advisors to Humans: We’re Here!

Sci-Fi has relied on robotic advisors since the genre was launched, and for good reason: They improve the lives of humans. This science-fiction is finally being realized, and if you squeeze your eyes tight and look at the horizon, you can see the future forming for insurance. Who is Mr. Robo and What Does He… Read more »

Is it Possible to Calm the InsurTech Blizzard?

We are experiencing a blizzard of technologies and processes aimed squarely at changing the insurance industry. Early implementations show that there are opportunities to improve the business of insurance, but some of the edges are fuzzy. The new technologies rely on a new business model that can be a bit threatening. So, What’s New ……. Read more »

Data & Analytics: Going to the Core of InsurTech

In less than 2 years, ‘InsurTech’ has become a topic du jour for insurance and technology professionals. But much of the discussion focuses on ease of use and engagement; it misses some critical fundamentals. Fortunately, there is an opportunity to find the mix of externals and internals creating the magic. Ease of use is getting… Read more »

AI: The Computing We Always Wanted?

With all of the discussions about InsurTech, Disruption, Innovation, Artificial Intelligence (AI) may  be poised to slide in seamlessly and radically change how we do business.  Are we realizing what we thought computing should be? Where is AI now in insurance? We are already seeing implementations of AI.  Lemonade, which is bringing a new model… Read more »

Who Can Do InsurTech? Who Should?

The term “InsurTech”  is a bit ambiguous, describing a wide scope of activities.  Depending on the source, InsurTech  may cause disruption of current insurance practices, the rise of new insurance products, the evisceration  of entire insurance C-Suites, the ascension of new entrepreneurs to Unicorn status.  This is not particularly helpful. I prefer to use a… Read more »

InsurTech, AI, and the Future of Work: On Offer in 2017

The beginning of a new year is fertile ground for making projections. However, having been hoisted by this particular petard previously, I am retreating to safer ground, and simply noting two trends. I won’t predict where these will take us, but leave it to discuss as the year reveals its true colours. Chaos takes form… Read more »

Is Big Data Working in Insurance?

Editor’s note: The Intersection blog focuses primarily on the property & casualty insurance business in Canada.  However, we occasionally take stock of interesting insights relating to other parts of the insurance community and other parts of the world, as we did here. Big Data has become a big buzzword, particularly in the insurance industry. It… Read more »

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2017 – Dance with the Hippo or Sharpen Solomon’s Tool

A few days of rich food,  Big Bang Theory bingeing,  naps at all hours, and random acts of work can produce some interesting perspectives, one of which is that 2017 is likely going to shape the next generation of insurance processes, distribution, and product. And size will matter, but in a new way. Dancing with … Read more »

2016 – Digital Directions and Distractions

In the late days of 2015, we projected that 2016 would have one overarching driver for insurers and brokers: digital transformation. All things being equal, I think we hit a chord that resonated. However, there was a parallel trend that made the acoustics a little strange. Digital First In 2015, there were early indications of… Read more »