The Intersection - The Insurance-Canada.ca Blog

Cyber Risk and Commerce: Communication Across Multiple Constituencies Required

We increasingly rely on digital for all matters of commerce. Whether we are buying tangible items or dealing exclusively in services, we expect risk-managed transfers of money, credit, communications, and control systems. And we rely on cyber insurance to indemnify gaps. But will we have standards & regulations in place to meet future business requirements?… Read more »

Emerging Tech in Canadian Insurance: Watch This Space

Emerging technologies seem to be taking the world by storm. The Internet of Things, drones, autonomous vehicles, wearables, and a range of other new technologies are in the news and poised to transform various industries as well as our daily lives. Canadian insurers are investigating opportunities and developing strategies for new technologies, with an eye… Read more »

Digital Then and Now: Why It Will Work This Time

In 1995, there was a lot of noise about the Internet revolutionizing insurance, which would result in savvy players becoming future winners.  While there was some impact, it looks like the real revolution was waiting for the ‘InsurTech’ phase.  What happened, what is making the difference, and how do you get more information? A brief history Insurers… Read more »

On Brokers, InsurTech Experience, and Friday Afternoons

Disruptive forces are pushing into the business of insurance in a big way. In many of the pronouncements from the usurpers and commentators, brokers are pictured as dull artifacts from a long-past time. Some brokers are emulating the digital pioneers. But is the reality of customer experience a bit more nuanced? Brokers Embracing InsurTech Jeff… Read more »

Infrastructure & Insurance, Risk & Reward

Public infrastructure and military projects played a critical role in socio-economic stability in the 20th century.  Insurers could expand that role to new requirements for monitoring, measuring, and mitigating risk for new assets in the 21st century. Infrastructure was a lifeline in the 20th century Growing up in the US in the 1950s and 1960s was… Read more »

On the US Election, Tech, and Coming Home

Since the outcome of the U.S. presidential election, the path forward has been a bit foggy. There is one straightforward result, however, which impacts Canada’s largest tech community. Why is tech different? Shortly after the U.S. declared a president-elect, Fortune’s editorial director, Adam Lashinsky, penned a short column on the new reality for the tech… Read more »

InsurTech – It’s About Time

In the last two posts, I focused on whether incumbent insurers can employ InsurTech; I suggested that insurers can, assuming that the insurer is ready to make changes. Today, I’m posing the question: How can insurers effectively bring in InsurTech? Hint: As with insurance, time is of the essence. InsurTech on a role InsurTech –… Read more »

Can Insurers Really ‘Do’ InsurTech?

Common wisdom has it that established insurers are not able to leverage InsurTech – the use of digital technology innovations designed to squeeze out savings and efficiency – with the same efficacy as start-up enterprises. We challenged two assumptions in our last post and will now address the third. In the last episode … I… Read more »

InsurTech: Threat or Salvation for Insurers?

InsurTech – defined as the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model – is threatening to cause significant disruption within the existing insurance community. How serious is this for established insurers and brokers? And what are the alternatives? Interest in InsurTech has increased dramatically over… Read more »

Following Closely: Cyberrisk and Self-Driving Cars

If you scan this blog, you will note that we have a high interest in autonomous vehicles.  Data demonstrate that there are reductions  in injuries and deaths, and improvements in transportation effectiveness. But there are new risks which need to be addressed. Is this an opportunity or just a large challenge? There are impressive benefits Autonomous… Read more »