The Intersection - The Insurance-Canada.ca Blog

Getting Started with Social Media: Be a good Listener

Social Media can be intimidating.  The language is unfamiliar, and the variations and options seem endless.  And  it seems there is a steep, and  time-consuming learning curve.  A recent article from Matt Marko, Marketing Process Manager for Progressive Insurance offers some clear (and time-saving) tips. For example, here’s  Matt ‘s suggested starting point for time… Read more »

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Cloud Computing – Real Opportunities, Real Risks, Real Insurance

There is little doubt that Cloud Computing presents real opportunities.  But there are also real risks, and real risk mitigation strategies, which can include insurance. As we’ve noted recently in this space, organizations of all sizes and shapes (including insurers),  are moving to cloud computing to reduce fixed costs, and allow greater flexibility.  And there… Read more »

Social Media and Claims Investigations

Claims professionals may have much to gain from using social media, but must take care with the tactics used. Two years ago, at an insurance association session on social media, the presenter asked if anyone was using social media for business.  A  half dozen people (out of 50 or so) raised their hands.  One was… Read more »

Insurer-Broker Technology Collaboration Beyond Transactions – New Canadian Research Study

Brokers and insurers collaborate in varying degrees to acquire, serve, and retain Canadian property & casualty customers. While the industry continues to improve broker-insurer transaction efficiencies, a potential new area of collaboration is the sharing of information and insights gained through customer analytics. Based on a new SMA research study in Canada, “Analytics to Enhance… Read more »

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 »