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Risk-averse insurers need to embrace failure to find success: insurtech exec

May 14, 2021 by Adam Malik

Insurance companies, generally risk-averse, are not used to seeing failure — something they need to get used to when they work with insurtechs that are trying to create a better system for them, says one insurtech leader. Insurers come to

News BrokersMGAsTechnology

The ‘perfect way’ for insurers to put capital back into the marketplace

May 10, 2021 by Greg Meckbach

The hard market in commercial lines has caused some managing general agents to lose some products, yet more insurance is still being placed through MGAs, panelists told brokers listening to a recent webinar. “I think it’s a perfect way for

News ClaimsClaims CanadaInsuranceTechnology

The ‘low hanging fruit’ for claims innovation

April 26, 2021 by Greg Meckbach

Collecting high-resolution images, making it easy to report a loss, and integrating the service providers into the claims process are claims innovations carriers need to bring in if they are not already, InsurTech North speakers suggested last week. “Make it

News InsuranceTechnology

InsurTech North speaker: What may work for desktop may not work for mobile

April 23, 2021 by Greg Meckbach

When it comes to shopping for insurance online, the consumer experience will vary across platforms, something that isn’t always discussed when the industry talks about digitizing its customer experience. The matter came up recently during ‘Key Touchpoints in the Customer

News InsuranceLegislation / RegulationTechnology

Why insurance overseer won’t regulate MGAs or fintechs just yet

April 22, 2021 by Greg Meckbach

Ontario’s insurance regulator has no plans to regulate fintechs or managing general agents in the near term. “We sort of feel like we have enough on our plates,” said Tim Bzowey, executive vice president of auto/insurance products for the Financial

News InsuranceTechnology

Why insurance apps need to be extremely simple to learn

March 9, 2021 by Greg Meckbach

For the P&C industry, one of the biggest challenges of going digital is the relatively few times a client interacts with an insurer provider, a fintech webinar speaker suggested Tuesday. When the financial industry started offering electronic cheque deposit, “it

News InsuranceLegislation / RegulationTechnology

So you’re going digital. How much speed do you need?

November 3, 2020 by David Gambrill

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

News Technology

How you can cut down time spent searching underwriting manuals

October 5, 2020 by Greg Meckbach

Some brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting

News Insurance

Signs that an insurtech isn’t worth your consideration

September 1, 2020 by Adam Malik

A good insurtech will let its insurance partner take its product for a test drive and easily provide referrals, insurtech leaders said during a recent webinar. If an insurance carrier or broker is dealing with an insurtech company that isn’t

News Insurance

A common mistake P&C organizations make when working with insurtechs

August 28, 2020 by Adam Malik

A common blunder the insurance industry makes when working with an insurtech is mistakenly expecting the partnership to be a one-size-fits-all for every issue they’re facing, according to insurtech leaders. In fact, experts said during a recent webinar, you are

News Insurance

Insurtechs urge P&C industry to keep foot on the gas with innovation

August 17, 2020 by Adam Malik

Innovation in the insurance industry has shown to be critical over the last number of months, and insurtechs are urging brokers and carriers not to lose the momentum they’ve established. Insurtechs called for closer collaboration between the property and casualty

News Insurance

How to make tenant insurance applications more user-friendly

June 10, 2020 by Greg Meckbach

If you think it is easy for clients to apply for tenant insurance, you might want to consider how much trivia those tenants actually know about the property they occupy. “Every insurance application has questions that aren’t user-friendly and they