How quantum computing creates new risks, regulatory issues for insurers
March 14, 2024 Jason ContantQuantum computing stands at the forefront of data processing technology and, although it remains an open question how it will be regulated, some form of guidelines will be needed. Quantum computers go well beyond a standard binary form of processing…
Why brokers say APIs must reach critical mass
March 27, 2023 David GambrillFor the long-sought application programming interface (API) tech solution to truly benefit the P&C insurance process, brokers stress, it’s important to reach critical mass. Without that, APIs wind up being just one more of many solutions brokers must incorporate into…
How to digitize traditional brokerages without breaking the bank
February 28, 2023 Alyssa DiSabatinoMany brokerages adopted technology sooner than planned because of the pandemic. And now acceptance of remote work is pushing brokerages to accelerate — or in some cases, start implementing — digital strategies. It’s easy to make a case for digitizing…
Canadian insurtech announces layoffs
November 16, 2022 by David GambrillVancouver-based insurtech Apollo Insurance has laid off approximately 25% of its workforce of about 125 people across Canada, according to one source familiar with the matter. Employees were told during a 9 a.m. meeting, Pacific Time, according to the source,…
Insurtech BOXX Canada names former Beazley chairman as president
February 24, 2022 by David GambrillFormer Beazley Canada board chairman Phil Baker is now president of global cyber insurtech BOXX Canada. Baker also will be responsible for delivering BOXX’s insurance strategy globally as its global head of insurance. The Toronto-based and privately-held company helps businesses,…
Mass personalization can enhance customer experience: PwC Canada
October 5, 2021 Canadian Underwriter StaffAccelerated digitization continues to drive strong M&A activity in P&C, with brokerages that prioritize the customer in their digitization strategies more likely to succeed. “Understanding the customer and how to change the customer experience will be the key differentiator for…
How insurtech is making ‘significant inroads’
September 20, 2021 by Greg MeckbachCanada has hundreds of new insurtech startups and some of them can help you give consumers the experience they have come to expect from other industries, speakers suggested during the 2021 A.M. Best Canada Insurance Market Briefing. “I think our…
Insurtechs: Disruptors or partners?
September 2, 2021 by Jason ContantInsurtechs are playing a game of collaboration and not combativeness within the insurance industry, the chief executive officer of an online commercial insurance brokerage said recently. “If you look at every insurtech, we pretty much always have to partner with…
Risk-averse insurers need to embrace failure to find success: insurtech exec
May 14, 2021 by Adam MalikInsurance 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…
The ‘perfect way’ for insurers to put capital back into the marketplace
May 10, 2021 by Greg MeckbachThe 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…
The ‘low hanging fruit’ for claims innovation
April 26, 2021 by Greg MeckbachCollecting 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…
InsurTech North speaker: What may work for desktop may not work for mobile
April 23, 2021 by Greg MeckbachWhen 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…