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What these ‘non-traditional’ insurance products will look like

November 19, 2019 by Greg Meckbach

As an increasing number of your clients come from cohorts younger than Generation X, the availability of non-traditional insurance products is going to increase, an insurtech industry watcher suggests. “I think we are increasingly going to see the development of

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How much investors have sunk into insurtech

October 25, 2019 by Greg Meckbach

Insurtechs like one Canadian startup in particular are letting brokers provide better service, but the sector as a whole contains some money pits for investors, Willis Towers Watson suggested in a report released Wednesday. “Unquestionably a good number of InsurTechs

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Managing insurtech temptation

September 30, 2019 by Adam Malik

It can be enticing to jump on board as soon as you hear about the latest and greatest doodad to help your business. But getting distracted by the promises of every insurtech option is something one broker tries to avoid.

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Insurtechs ‘hitting this wall called regulation’

September 16, 2019 by Greg Meckbach

Despite the hoopla over insurtech, the Amazon model of commerce is not about to replace the broker any time soon, analysts with A.M. Best Company Inc. told Canadian insurance professionals. “A lot of what these insurtech companies are getting to

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Will the gig and sharing economy kill bundled policies?

September 6, 2019 by Adam Malik

The rise of the gig and sharing economies stands to kill a traditional insurance selling feature: bundled policies. That means it’s time to change the way the industry approaches its selling strategy, one insurance expert believes. The growth of gig

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A practical strategy for switching to customer-centric tech

September 3, 2019 by Adam Malik

What do Facebook, Google and Amazon do so well that remains a struggle for insurance? They make the customer the centre of everything they do, according to Denise Garth, senior vice president of strategic marketing at Majesco, an insurance software

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Brokers, why build tech on your own when you can partner with an insurtech?

August 30, 2019 by Greg Meckbach

Brokers looking to up their game in digital innovation should scan the market for potential technology partners, Symposium West attendees were told last week. “Who can you partner with – in an adjacent industry or a solution provider – that

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Where do the most innovative ideas come from? Not your CEO

August 29, 2019 by Adam Malik

The next time you’re brainstorming the next big idea, don’t extend a meeting invite to your executives. Instead, make sure as many of your frontline staff members as possible are there. The thing about great ideas, said Aly Dhalla, co-founder

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Watch out for these ‘nefarious’ ways of eating brokers’ lunch

August 28, 2019 by Greg Meckbach

Brokers could be in for a nasty surprise if the concept of bundling auto insurance with vehicle lease or purchases catches on in Canada, a Symposium West speaker warned last week. An auto manufacturer is “not a traditional competitor” in

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Two problems insurtech could solve for existing players

July 9, 2019 by Greg Meckbach

Attracting talent and putting legacy data to good use are two of the ways insurtech can help the industry, a claims professional says. Chris Hampshire, vice president of carrier practice at claims services provider Gallagher Bassett Services Inc., was asked

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What you will be insuring in 10 years (hint: not so much auto)

May 27, 2019 by Adam Malik

Expect to write less auto coverage with the rise of autonomous vehicles in 10 years’ time, and more coverage related to climate change, property lines, and emerging risks. Thanks to the progress expected of autonomous vehicles, auto insurance will plateau,

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What insurtechs can learn from hackathons

March 13, 2019 by Greg Meckbach

Editor’s Note: This article has been updated. A previous version incorrectly stated that duuo was launched at Slice Labs’ launch studio in Toronto. CU apologizes for the error. If you want to develop a new digital insurance product, it shouldn’t