The Intersection - The Insurance-Canada.ca Blog

Is the Telematics Plateau Coming Early?

We’ve followed Telematics/Usage-Based Insurance (UBI) for some time now.  There has been significant progress, and there is an assumption that it will have a 25% market share over time. Of late, however, some folks are suggesting that UBI could plateau early just as other forces start to shape the next generation of automobile insurance. Usage-Based… Read more »

Pragmatic Telematics: Reality Trumps Theory in Chicago

I detected a noticeable change in tone at the Insurance Telematics USA conference held in Chicago last week. In prior years, much of the discussion was prognosis and guesstimation.  This year, the majority of presentations and conversations dealt with real-world issues relating to development, implementation, promotion, and utilization of telematics-based usage-based insurance (UBI). I think… Read more »

Changing Driver Behaviour – Can UBI Deliver?

Clearly audible amid the buzz surrounding UBI in Canada is the expectation that it will be effective in changing driver behaviour, i.e., it will help drivers improve their skills. This is exciting because a corollary of improved skill is reduced loss costs making changing driver behaviour an important selling point for insurers contemplating a push… Read more »

Telematics: Thinking Beyond Discounts

Telematics insurance announcements continue for Canada.  Up to this point, the enticement for drivers has been price.  However, there are indicators that price efficiency is only a start for customer engagement with Usage-Based Insurance (UBI) programs. The Insurance-Canada.ca Technology Conference will provide a forum for examining alternative approaches.  In a run up to that, we… Read more »

Brokers Could be ‘Crucial’ in the Evolution of Usage Based Insurance

At the  Insurance Telematics USA conference in Chicago last week, several themes were prominent.  Taken together, these themes suggest that independent distributors will be a key element in the success of Usage Based Insurance (UBI) in North America.  This will be explored next at the Insurance 2023 Forum in Toronto. Major Themes It’s ‘How’ not… Read more »

Telematics and Usage-Based Insurance: Usage to Innovation to Disruption

While the use of Telematics is just getting traction (pun intended) with insurance in Canada, it seems that some organizations elsewhere have already started releasing innovative product and marketing twists to engage, and retain, customers.  Insurance-Canada.ca is currently conducting a survey and is looking for your opinions and questions to pose to an expert panel… Read more »

Insurance Digital Marketing: Data Primacy, Channel Challenges

There is conflicting evidence about the current value/importance of digital or data-driven marketing for insurance. However, there seems to be consensus on a few elements: Data comprise the currency, and Channel assumptions will be challenged. Our questions: How well prepared is the insurance industry for changes that are coming in data driven marketing? How well… Read more »

Micro-Segmentation For The Micro-Organization

In the new world of data, big data, and analytics, some concepts and approaches can seem overwhelming, especially for small to mid-size enterprises (SMEs) that don’t have substantial resources.  However, there are common sense approaches to implement techniques which may not be as elegant as more formal approaches, but are nevertheless effective in providing real… Read more »

Telematics Uptick – Where Will Insurers Take Usage Based Insurance?

The recent  Insurance Telematics USA 2012 Conference demonstrated that it is possible to measure,and possibly predict,  virtually everything about the use of a vehicle and the behaviour of a driver, and there is lots of activity.  An open question:  where will the scheme take hold first. No Shortage of Enthusiasm One thing is certain:  There… Read more »

Can Telematics Be a Marketing Tool? Will Prospects Heed Flo’s Rally Cry?

Progressive Insurance has taken the use of Telematics further forward in the marketing cycle.  We’re interested in your opinion on whether this strategy can  attract qualified leads. In a recent Progressive Insurance TV ad – called Rally Cry,  Flo (Progressive’s ever ebullient spokeswoman) takes over the airwaves  to say, “Attention, well, Everyone ….” and goes… Read more »