The Intersection - The Insurance-Canada.ca Blog

Smart Canadian Insurers, Smart Homes, and Insurance 2.0

Canadian insurers’ interest in smart home technology is rising. At one level, this is providing new, cool insurance programs. At a higher level, this is a prototype of Insurance 2.0. Home, Dry Home … According to CB insights, Intact Insurance in April “became the latest insurer to invest in a smart home startup – water… Read more »

Waiting for Disruption

An analyst and thought leader recently went public with a post suggesting that disruption is over-hyped and underwhelming from a practical standpoint. I respect the author and the analysis, but I think that we are in uncharted territory, and when looking at disruptive competitors, we might consider Hunter Thompson’s advice. Who is the analyst and… Read more »

If Digital Is Urgent, How Do We Play It?

InsurTech (Insurance Technology)  is a hot topic in the insurance community these days.  But how significant is this trend and how urgently do we have to respond?  We think that the recent  Insurance-Canada.ca Executive Forum (ICEF2016)  provided insight. What do we do and, when do we do it? Writing in PropertyCasualty360, PwC analysts, Jamie Yoder… Read more »

Customer Experience Focus: Worth the While?

Insurers are realizing that improving customer experience (CX) can bolster the bottom line.  The good news is that digital tools align well to support improved CX.  The bad news is that real changes are not sustainable without more fundamental transformation at the technology and business levels. On balance, is this worth your while? Consumers are… 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 »

Insurance Marketing & Communications: Today, Tomorrow, and for 2023

A number of marketers have noted that Customer Experience and Communications are shaping the battlefield of the present for insurance marketing. There is some positive news about insurers’ current initiatives. However, this battlefield is changing as we speak and will shift radically over the next decade. The Insurance 2023 forum is planning to have a… Read more »

Are Commercial Lines Buyers Ready to Go On-Line?

There is a long-held belief that commercial lines insurance, regardless of the size, require a personal agent or broker to be effectively  marketed, sold, and serviced.  A new report  (based on US data) is questioning this assumption, raising some technology, operational, and marketing issues for everyone involved in small commercial insurance.  We’d like to know… Read more »

Regulation and Consumer Satisfaction: A Tale of Two E-Commerce-in-Insurance Reports

The insurance consumer was in the spotlight of a couple of reports recently.  A discussion paper issued by the Canadian Council of Insurance Regulators (CCIR) on regulation of electronic commerce in insurance has met its goal of stimulating discussion.  Meanwhile, a report by J.D. Power on consumer satisfaction with insurance put forth some interesting data… Read more »

Insurance Telematics Reality Check: It Really is Gaining Momentum

We identified telematics – the use of integrated technologies in vehicles – as a trend for Canadian insurers in 2012.  Several recent reports are suggesting that the trend is gaining momentum, and a tipping point may have been reached. Phil Gusman recently reviewed  a Celent report, entitled “Telematics-Based Insurance: Has Its Time Finally Arrived?” in… Read more »

Portals or Real Time: What Do Brokers/Agents Prefer?

What do brokers/agents prefer when it comes to electronic linkage with carriers?  Two recent reports give what appeared to be diametrically opposing view points based on survey data, and raised the volume of the debate.  We’d like to know what you think. ACT, the technology arm of the Independent Insurance Agents and Brokers of America… Read more »