Data is a tricky balancing act: You need it to make sound decisions, but if the numbers become the be-all and end-all, it can lead to some pretty questionable corporate behaviours and leadership decisions. “Data is dangerous without context,” Bryant…
There will come a time when data-enabled learning, as featured in artificial intelligence, will become a “table stakes” component of P&C insurance products — but collecting mass amounts of consumer data won’t always give your company a competitive advantage. Who…
Witness to three hard markets, Greg McCutcheon, president of Opta Information Intelligence, tells how advanced analytics can predict the winners and losers in today’s hard market
Brokerages that want to get ahead don’t need to look any further than one important tool: Data. And to ignore it means not only falling behind but falling off the map entirely, one expert warns. To not just provide a…
Insurers who go beyond just mere compliance with IFRS 17 into data optimization are reaping the benefits, including expanded capabilities with advanced analytics, machine learning and artificial intelligence, speakers said Wednesday at an industry event. The rich dataset collected from…
Carriers have made significant strides in ridding their systems of nefarious Z-codes. Here’s an update on their mop-up operations….
If your client suffers a ransomware attack, should they pay the ransom to get their systems up and running again? And if they do pay, does that guarantee the cyber criminals who locked down the systems in the first place…
One question often on the minds of brokers is how do they better digitize their processes and minimize the amount of data they have to enter into various systems. “Our position is that data should be created in a digital…
Artificial intelligence (AI) should be used to “connect the dots” between different data silos and decisions made within an insurance company, Charles Dugas, head of insurance at Element AI, said last week. The goal is to develop a system that…
Brokers need to take ownership of the data they collect to personalize and improve the customer experience, a speaker suggested Tuesday at the CIP Symposium in downtown Toronto. “For the brokers in the room, how does your client feel if…
Technology and data will change the underwriter’s job but will not eliminate it, suggests Russell Johnston, chief executive officer for North America of QBE Insurance Group Limited. “At the end of the day, people still make the decisions,” Johnston said…
Canadian P&C insurance companies have entered a transitional technology phase that will see data from their legacy systems get transferred online. “We are in a hybrid-cloud paradigm,” Frank Attaie, vice president of cloud and software at IBM Canada, told Canadian…