Organizations that achieve faster digital transformation end up becoming more innovative in the long-term, a speaker said Wednesday at the Future of Insurance Canada 2022 conference, hosted in-person in downtown Toronto by Reuters Events. Raj Utraja, vice president of technology…
The Canadian P&C industry hasn’t done a great job of service, says one industry CEO in an executive panel discussion at RIMS Canada Conference in Halifax. What’s the good news? The industry can meet and maintain service levels through collaborative…
Insurance companies seeking to make good digital investments need to reevaluate their legacy technology systems, according to survey results from digital intelligence company ABBYY. As the workplace becomes increasingly digitized, ABBYY’s 2021 Digital Transformation Survey Results finds that the biggest barriers…
Canada’s P&C insurance industry has been undertaking digital transformation initiatives for a while now, some of which have been accelerated by the ongoing COVID-19 pandemic. But how does a brokerage or carrier know where to focus their investment, and understand…
Enlisting digital transformation enthusiasts and starting with a keystone change are key to successfully implementing a digital transformation strategy, according to a new blog from Harvard Business Review. “The first thing that every transformation must confront is resistance,” said the…
While the COVID-19 pandemic has accelerated P&C’s digitization investments, the need for human connection within digital insurance should not be overlooked, a digital identity firm says. “As the insurance industry accelerates its pace towards digitization, we must keep in mind…
COVID-19 has “forced” companies in Canada and the U.S. to accelerate digital transformation efforts, and property and casualty brokerages are no exception. According to Ernst & Young (EY), this sudden accelerated digitization has been “forced” on Canadian companies “in ways…
Expanded opportunities for digital transformation are one of the key reasons behind Westland Insurance Group Ltd.’s recent acquisition of Storm Insurance Group, Westland told Canadian Underwriter Tuesday. British Columbia-based Westland closed its acquisition of Storm Jan. 7. Storm operates under…
While the global COVID pandemic may have sharpened the insurance industry’s focus on providing digital solutions to customers quickly, the speed at which the industry can move remains limited by traditional barriers such as a carrier’s organizational culture, regulation, and…
Top 5 reasons why commercial lines real-time quoting should be a priority
What’s the secret to successful digital transformation? The key is to get buy-in from the lower levels of the organization, said Paul Chapman, chief information officer (CIO) at Box Inc., a provider of cloud content management and file-sharing service for…
So you want to change the way you do business. Great. But before you start turning things upside down, ask yourself five key questions to make sure you’re going to do it properly. Transforming business and the culture within it…