The Intersection - The Insurance-Canada.ca Blog

2015 Trends: A Year of Living Data-ly

It’s time for us to take our annual stab at trends and directions that are going to influence insurance technology for the next 12 months.  Last year, we saw interconnectedness as an overaching theme.  This year, we see that theme contributing to a larger construct:  The need to effectively cultivate, utilize and protect our most… Read more »

2014 Hits and Misses

As has been our wont since this blog began, we take a stab at predicting trends and directions for insurance and technology in Canada at the beginning of each year.  We also commit to give an honest appraisal at year-end, and ask for your comment. It’s time for the reckoning. For 2014, we highlighted specific areas… Read more »

Need Core Systems Replacement Success? Think Small!

To mitigate risk with large technology projects, experts suggest careful planning and on-going control of scope.  There’s an old adage that advises:  “Start small and be prepared to scope down.”  Now, some data from the US and anecdotes from Canada suggest there may be one more piece of advice for success:  “Be small, and be… Read more »

Insurance, Technology, and Innovation: Cruising to Success or a Fast Ride to Nowhere?

Innovation is certainly the rallying cry for the current era. We wonder if, by trying too hard to innovate without looking at a bigger picture, we are pushing ourselves into uncharted and unprofitable territory.  We’d like your thoughts. To boldly go where we might not want to be…. Insurance & Technology’s Nathan Golia alludes to… Read more »

The Internet of Things & Impact on Insurance: A Matter of Give and Take

The Internet of Things (IoT) has entered the mainstream and will impact many parts of our lives.  Insurance will be subject to disruption at levels never seen before.  The IoT will eliminate certain risks (good for insureds, not so good for insurers) but will also introduce new risks and new methods of underwriting existing risks,… Read more »

Is IT’s Elevation of Role Raising Risk Levels?

The profile and influence of  IT are expanding — rapidly. Business leaders speak about the integral role of IT in modern commerce.  We see lots of articles saying that IT is one of the growing professions.  Even the NASDAQ is supporting pretty aggressive multiples on technology stocks with little talk of a bubble.  It’s a… Read more »

Cloud, Agility, Innovation: Is This the New Holy Triangle?

IT professionals are familiar with the sacred triangle of projects: Scope, Resources, Time. The idea is that, as in a right triangle, the scope of a project will drive the requirements for resources assigned and the time allocated for the activities. It seems that there is another triangle forming in the sky, suggesting that the… Read more »

Core Modernization: Standard vs Bespoke Implementations

A large proportion of insurers are either planning or executing replacement projects for core business systems. The majority of these center around the soon-to-be “new” policy administration system (PAS), targeting the needs of internal users. After all, underwriting and policy issuance are really the core activities of insurance companies, aren’t they?  And internal efficiencies are… Read more »

It’s a Big (Data) World Out There

Most of the buzz around big data focuses on marketing, for good reason. However, there are myriad additional applications for Big Data; separately, they are significant, and together, they can transform insurers’ external and internal activities. Big Data and analytics will be important topics at the 2014 Insurance-Canada.ca Technology Conference next month. In advance, we’d… Read more »

2014 in the Headlights

It’s time for our annual attempt to read tea leaves for the coming year. We’ve picked a few of the major developing areas. We also see a larger trend which may begin to manifest itself in 2014. We’d like your thoughts on our prognostications and we welcome your forward-looking thoughts.  Have a read and let… Read more »