The Intersection - The Insurance-Canada.ca Blog

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 »

Emerging Tech in Canadian Insurance: Watch This Space

Emerging technologies seem to be taking the world by storm. The Internet of Things, drones, autonomous vehicles, wearables, and a range of other new technologies are in the news and poised to transform various industries as well as our daily lives. Canadian insurers are investigating opportunities and developing strategies for new technologies, with an eye… 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 »

Can Insurers Really ‘Do’ InsurTech?

Common wisdom has it that established insurers are not able to leverage InsurTech – the use of digital technology innovations designed to squeeze out savings and efficiency – with the same efficacy as start-up enterprises. We challenged two assumptions in our last post and will now address the third. In the last episode … I… Read more »

Innovation, Integrity, Fintech: Pick 2?

When we hear of ‘innovation’ these days, the odds are pretty good that there is new technology behind it. The question now is whether the technology innovation can maintain integrity while scaling rapidly, especially for financial services. Technology is a critical part of daily life In a recent blog post, Mark Breading, partner in the… Read more »

The Transforming Insurer: Competing in a Post-Modern World

Insurers have spent significant time and money updating processes and modernizing core business systems. What happens if modernization is only table stakes? According to leading analysts and practitioners, competitive pressures are increasing, coming from traditional and non-traditional suppliers. Their competitive advantage?  Transforming the enterprise to meet the demands of customers. How we got modern …… Read more »

7 Essential Technologies for Engaging Insurance Customers

You got the email. “We need to improve our customer experience. Our conversion and retention numbers are down. What can you do?” In fact, you got several emails and briefings from marketing and line-of-business leaders, and you were copied on a complaint from a key producer citing frustrated policyholders. You know what it will take,… Read more »

360° Customer View: You Can Look, but Can You Touch?

Like the lives of so many celebrities and reality-show families whose relationships and daily interactions are splashed across our screens, insurers’ views of their customers present the same frustrating dilemma: sometimes they want to try to reach into the customers’ world to help influence decisions. But, just like on TV, it seems today’s insurers can… Read more »

Sponsors: Need a Plan B for Core Systems Modernization Projects?

A recent report from SMA provides an excellent outline of best practices for implementing modern core systems. As a bonus, and without explicitly saying so, the report also provides a safety net for the executive who has been appointed the project sponsor and who might find, at some point, that all is not going tickety-boo…. Read more »

Policyholders Will Love That Omnichannel Feeling

“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ―Maya Angelou “Customer intimacy” might be the latest catchphrase in customer experience, but I wonder how policyholders really feel about being more intimate with their insurance company. How close do… Read more »