Tech
With strategic investment in digital initiatives and omnichannel, insurers can become more customer-centric, achieve growth and lower costs, Ernst & Young (EY) said recently. Digital and omnichannel is one of five key issues and trends that should be on the radar for insurance company leaders, EY said last week. The other key trends that could […]
By Jason Contant | December 19, 2018
2 min read
Your client should never have to negotiate with a cyber criminal even if that client has suffered a ransomware attack, cyber security experts advise. Ransomware is a type of computer malware that prevents clients from either using their computers or accessing their files unless they pay a “ransom,” notes Bermuda specialty insurer Axis Capital Holdings […]
By Greg Meckbach | December 19, 2018
Brokers placing cyber coverage for healthcare clients may want to take note of a new survey that found for many Canadian businesses, ransomware isn’t a one-time occurrence. Of those polled that said they knew of a ransomware attack in their organization, one-third (33%) said it had happened more than once. Eighty-five per cent of respondents […]
By Jason Contant | December 18, 2018
The flying cars depicted in science fiction classics such as “Blade Runner” and “The Fifth Element” have long been seen as flights of fancy, but their arrival is closer than you think. At least a dozen companies are prototyping or testing flying cars or passenger drones, according to a Deloitte report from January. Air taxis […]
By Greg Meckbach | December 17, 2018
4 min read
Some former school board employees can still look at children’s records – including address and date of birth – over the Internet because their access to this system has not been revoked, the Auditor General of Ontario suggested in a recent report. Each school child gets an Ontario Education Number. A computer system administered by […]
By Greg Meckbach | December 14, 2018
How you deal with the always-connected consumer will determine whether an insurtech will eat your lunch, speakers suggested at KPMG Canada’s annual insurance conference. “Digital is oxygen these days. If you are not digitizing your products and your service, you are not going to win in the future because that is how consumers want to […]
By Greg Meckbach | December 13, 2018
3 min read
Operations
Brokerages going through a major transformation such as a merger should consider a lead management system, recommends the CEO of a brokerage that underwent a merger in 2015. “Really focus on a lead management system because otherwise you’ll have no idea if your marketing or anything you try is successful or not,” suggested Ed Meiering, […]
By Jason Contant | December 12, 2018
Meeting consumers where they already are by moving towards an omnichannel strategy is one of the trends that will reshape the Canadian insurance industry in 2019, a market intelligence agency predicts. The application programming interface (API) mindset and integrated omnichannel marketing strategies will become drivers to better distribution as products become fast, seamless and embedded […]
Legal / Regulation
Concerns from insurers about boiler explosions has prompted an Ontario safety watchdog to recommend more regulatory oversight of pressure vessels and boilers used in wineries and other agricultural operations, the auditor general noted in a recent report. “Ontario is the only province in Canada where boilers and pressure vessels used in agricultural operations such as greenhouses, […]
By Greg Meckbach | December 12, 2018
Using artificial intelligence, brokers can gain valuable insights from data, but making decisions based on those insights might be easier said than done. “There is an issue that all companies struggle with. It’s one thing to gain insights out of data. It’s much harder to apply those insights into whatever your operational systems are your […]
By Greg Meckbach | December 11, 2018
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