The Intersection - The Insurance-Canada.ca Blog

Social Media: Marriage of Marketing and Customer Service

There is a lot of talk about the power of social media in selling insurance.  But, as was the case with the emergence of the Internet in the mid 1990s, the real power (for good or ill) may be in marketing through customer service. The holy grail of marketing is getting the customer to recommend… Read more »

Win-Win: Commercial Fleet Underwiting with Telematics

We blogged recently on competitive uses of predictive analytics,and noted that ‘Telematics,’ the use of location technology to automatically track automobile usage, was gaining some favour for some auto underwriting.  There is now evidence that this will extend beyond obvious uses in personal lines to more sophisticated applications in commercial  fleet insurance. The neat spin… Read more »

BI/Analytics: More Complex, More Mobile, More Important

For the  folks who have been able to dismiss the significance of business intelligence/predictive analytics, and relegate its use to actuaries and computer geeks,  there is growing evidence that this is a bad idea which is only going to get worse. Bob Evans Editorial Director, InformationWeek puts out an annual ‘Top 10’ list for CIOs. … Read more »

Business Driven Modern Technology – Removing the Fog from Cloud Computing

It has become fashionable in some insurance circles to relegate Cloud Computing to a technology in search of a solution.  This might be premature dismissal of an approach which could offer significant business benefits. In a recent blog post, Celent’s Ben Moreland says that people who focus solely on the technology miss the point.  While… Read more »

Insurer On-line Marketing Opportunities High, Use Low – Accenture

In an interview with eMarketer, Michael Costonis, Executive Director, Insurance North America for Accenture said that the state of insurance with respect on-line marketing “is probably slightly behind banking, which is really behind the rest of the world in terms of online sophistication of marketing.” According to Costonis, this is in spite of consumer trends… Read more »

Math lesson: Is there ROI for Core Systems Replacement?

A sharp IT professional recently argued with his colleagues that there is no cost-based return on investment argument that favours replacement for core insurance administration systems.  His contention was that there are lots of good reasons, but none that are cheaper than maintaining the old beast. This sounded just contrarian enough that it might be… Read more »

Tablets are coming. Oh, Wait … they’re here

No matter what measure is used, it is clear that tablets are capturing the imagination of business professionals, including insurance professionals, in ways previously unthinkable. Although tablets are best known as consumer devices, most analysts concur that tablets are moving rapidly into business, especially for mobile professionals.  InfoTech Research, in a recent blog post, says: … Read more »

Social Media & Insurance Best Practices – New ACT Report

A new report from the  Independent Insurance Agents and Brokers of America, IIABA, provides practical insight on effectively using Social Media for insurance sales and Service. ACT  is a subgroup of IIABA set up to bring independent agents/brokers together with insurance carriers and vendors to explore areas of common interest.  Thanks to dedicated staff and… Read more »

IT Budget Trends ‘Cloudy’: New Opportunities; New Challenges

IT managers generally, and Insurance IT managers specifically, are being given additional resources to do more, according to analysts, but these come with serious business alignment requirements.   This is increasing interest in Cloud Computing and Software as a Service (Saas) solutions. Jonathan Feldman, writing in Information Week on December 18, 2010, notes that a November… Read more »

Competitiveness Drives Use of Operational Data Analytics

There is increasing evidence that insurers are looking to better utilize data analytics in an operational environment to improve competitiveness in current market conditions. Insurance & Technology recently reported on a conversation with Piyush Singh, CIO of Cincinnati-based Great American Insurance Company, who believes there will be an ‘industry-wide shakeup that will be driven by… Read more »