The Intersection - The Insurance-Canada.ca Blog

Autonomous Vehicles – The Disruption Never Ends

As recently as 4 years ago, if you mentioned ‘autonomous vehicles’ as a serious alternative to traditional private passenger automobiles, there were good odds that you would be laughed at or threatened.  That has changed, and the impact could be more disrupted than first imagined, It seemed straightforward at the time…. At the first Insurance-Canada… 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 »

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 »

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 »

The Future of Disruption: Will Telematics Uberize UBI?

We are hearing a lot about disruption that will hit the insurance industry as the result of InsureTech and digital transformation. However, widespread enterprise-wide implementations are some ways out, so we won’t see the impact of all of the moving pieces. But there is one exception: Telematics / UBI. Telematics is proven and poised for… Read more »

Marketing Disruption – The Future of the Insurance Promise

Disruption is challenging the construct of the insurance product, which leads to a crucial question: How do we convince consumers that existing insurance organizations are still needed? A new commercial is starting down this road. And reviewing some alternative ads might be in order. We’d like your thoughts. The End of Automobile Insurance Back in… Read more »

Do We Go Outside to Bring InsurTech In?

A recent report documents the geometric increase in organizations and funding dedicated to innovation and disruption in insurance. While the result is a vibrant and robust ecosystem for insurers to navigate, the authors add an important caveat about the actual reach of the efforts, and suggest a trip outside might be in order. “InsurTech” is… Read more »

InsurTech: Going Hard or Hardly Going?

To avoid being ‘disrupted,’ and – potentially – to improve the balance sheet, some insurers are driving experimentation of Insurance Technology (InsurTech). However, some initiatives are geography-specific and, from a global industry perspective, the commitment is underfunded. Is this just the nature of today’s innovation paradigm, or are we treating InsurTech as a lower priority?… Read more »

Insuring the Digital Economy (Part 2): A Slice of On-Demand Insurance

Recently, I suggested that the the digital economy offered opportunities for new revenue – but this would require insurers to look at new models.  The example was the introduction of coverage that bridged a gap. Let’s look at a different model which meets specific features of the new economy and promises real disruption. When you… Read more »

Celent Innovation and Insight Day: Pride and Optimistic Uncertainty

Last week, I attended Celent’s Innovation and Insight Day. I found my (Canadian) nationalistic pride reinforced, my questions about the evolution and impact of FinTech and InsTech addressed, and even a boost for my (American) nationalistic pride. Don’t Forget the Alamo Celent CEO Craig Weber opened the day by describing what he believes is the… Read more »