If you place commercial insurance, you probably have clients who are very concerned about the risk of making large investments in information technology projects. “The failure rate of IT projects is quite high and the returns are often not what they were promised to be,” Nick Creatura, chief executive officer of commercial insurer CNA Canada, […]
By Greg Meckbach | June 17, 2019
2 min read
Are you working with enough application programming interfaces (APIs) that you need an API product manager? Mark O’Neill, VP analyst at research and advisory firm Gartner, recommends that companies create such a role within their organization. The role doesn’t necessarily have to be full-time, and larger companies may even have multiple people fulfilling the job […]
By Jason Contant | June 14, 2019
2 min read
OTTAWA – A committee of MPs who probed bus-passenger safety in Canada has decided not to call for seatbelts to be installed in Canadian school buses, urging further study instead. The House of Commons transportation committee launched an investigation into bus safety, including on school buses, following the deadly Humboldt Broncos crash in Saskatchewan last […]
By Greg Meckbach | June 13, 2019
3 min read
Want to place insurance that covers a client whose revenue suddenly plummets because of a disinformation campaign? This might be easier said than done, but one commercial insurer with a Canadian branch is hoping to change this. Right now, there is only very limited coverage for a scenario where a firm’s revenue drops significantly as […]
By Greg Meckbach | June 12, 2019
3 min read
Finding ways to save money isn’t how you make meaningful change in your business. It’s about your people and altering the way they think and work in your company. For many industries – and insurance is no exception – that type of overhaul is difficult. Instead, there are those who think they’re transforming their business […]
By Adam Malik | June 12, 2019
3 min read
Companies looking to enhance their digital strategy should follow a four-step model to deliver a multi-experience rather than an omnichannel experience, Jason Wong, VP analyst at research and advisory firm Gartner, said recently. There are various definitions for omnichannel, but one is that it’s a type of retail that integrates “on the back end” different […]
By Jason Contant | June 11, 2019
2 min read
Some brokers and carriers are spending too much time and effort dealing with incoming paper, a former auto underwriter says. While technology advancements mean more forms can be entered electronically through web and mobile apps, brokers nonetheless have data coming to them on snail mail and email attachments, suggested Jeff Hiegert, senior customer advisor for […]
By Greg Meckbach | June 10, 2019
3 min read
How far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There is also sometimes the need for insurers to address “non-traditional” cyber exposures, making standardization more […]
By Jason Contant | June 10, 2019
3 min read
One insurtech based in the United States is pre-filling data in home insurance application forms to help answer questions that customers may not be able to answer themselves. California-based home insurance company Hippo Insurance uses trusted public data sources like Zillow to pre-fill data and help minimize the 50-150 questions in the standard U.S. home […]
By Jason Contant | June 6, 2019
3 min read
To get the best out of your collaboration efforts, get outside of your comfort zone. The best companies understand the value of collaboration, said Sven Roehl, co-founder of Cookhouse Lab, an insurtech innovation firm. But they also understand they need to go beyond their inner circle of trusted friends. “What they’re now doing more than […]
By Adam Malik | May 31, 2019
3 min read