Digital brokers: Should you build your own tech, or buy someone else’s?
October 22, 2020 by David GambrillOkay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers…
How COVID accelerated broker tech by 4-5 years
October 21, 2020 by David GambrillCOVID-19 has been good for the broker channel, in the sense that it has accelerated digital growth at brokerages by at least four to five years, a digital broker told the Insurance Brokers Association of Ontario (IBAO) virtual convention Wednesday.…
40-year industry vet discusses his take on tech: Does it help or hinder?
October 20, 2020 by Greg MeckbachWhen Bob Tisdale started his insurance career in the late 1970s, his employer at the time was just starting to adopt computers. “A lot of people at the time predicted that that was going to be the end of everybody’s…
What the insurance industry wants from its tech vendors
September 30, 2020 by Jason ContantThe insurance industry wants technology vendor incumbents to become more innovative, but also limit the number of products to maintain and buy, according to the CEO of Applied Systems. “We did a lot of end-market survey work over the last…
The key demographic noticing the industry’s technological pivot
September 9, 2020 by Adam MalikThe property and casualty insurance industry’s response following the global declaration of the COVID-19 pandemic and how it adjusted quickly in numerous aspects, especially technology, has made the industry more attractive to new graduates, according to a recent report. While…
Carrier exec calls for BMS vendors to move away from developing third-party rating tools
May 22, 2020 by David GambrillBroker management system (BMS) tech vendors need to move away from spending time, effort and money on developing third-party rating tools used for comparison quoting, an insurance company executive said at a recent webinar on broker-carrier connectivity. Instead, they should…
Who do you trust?
February 1, 2020 by David GambrillAn Ontario resident approached a direct writer for an auto insurance quote in March 2005. A new customer, the man gave the insurer his name, date of birth, vehicle information and property information. Upon receiving the quote, he took his…
Customers want you to text them. So why aren’t you?
December 6, 2019 by Adam MalikNearly seven in 10 customers want to be able to contact a business via text message but just 13% of small and medium businesses are actually using the medium to communicate with their customers, according to a recent study. While…
Does your new tech actually make clients’ lives easier?
September 5, 2019 by Adam MalikSo you’ve just installed this new digital doodad to make your customer’s life easier – great. But did you inadvertently just make things more frustrating for your client? Warren Lederer, chief operating officer at Madison Advisors, which works in the…
Why the insurance industry should consider partnering with Google and Amazon
September 5, 2019 by Adam MalikDon’t scoff at the prospect of Silicon Valley tech giants getting into the insurance business – and the insurance industry should consider partnerships with them, one expert said at a recent conference. Denise Garth, Majesco’s senior vice president of strategic…
Where AI can help underwriters
August 8, 2019 by Adam MalikWhen nearly half of your time is taken up doing mundane – but essential – tasks, one expert believes it’s time to embrace a better way. Carlos Benfeito, Montreal-based head of insurance products at Element AI, noted that about 40%…
Why brokers should embrace A.I.
July 15, 2019 by Adam MalikSeveral industries may fear the impact of new technology in the workplace, but at least one Canadian broker says insurance brokers have every reason to welcome it. Artificial intelligence, for example, would allow brokers to drop the mundane tasks that…