Insurance Technology

Modernizing Insurance Data to Drive Intelligent Decisions

June 16, 2022

Modern_izing_Insurance
Data has always been an important asset in the insurance industry, which is largely built on algorithms and financial models. Today, that is truer than ever before. Data can be analyzed to provide insurers with deeper business insights and the ability to target the right customers through the right channels with the right offerings in the right sequence. It also has opened the door to a growing group of digital natives and insurtechs that bring innovative ideas and solutions to help accelerate and improve the customer journey. Today, the advent of artificial intelligence (AI) is increasing the importance of data across the industry. AI is widely recognized for its potential to bring greater efficiency and innovation to the entire insurance value chain, from customer acquisition to claims processing, and for all stakeholders, including customers, agents and employees. However, effective AI depends on current, accurate and relevant data. AI is key to competitiveness, and data is key to AI.

Spotlight

Westland Insurance Group Ltd

Award winning Westland Insurance Group is one of the largest and fastest-growing independent property and casualty insurance brokers in Canada. With a national network of 195 locations and over 2,100 employees, the company continues to expand coast to coast. Learn more about why you should partner with us at www.westlandinsurance.ca/partner-with-us/ Personal Insurance Westland's brokers provide expert advice to home, business, and auto insurance clients. Since its founding in 1980, Westland has remained a family-owned company that is committed to supporting its local communities. www.westlandinsurance.ca/why-choose-us/ Commercial Insurance As a leading insurance brokerage in Canada, our scale and pace of growth allow us to continually invest in our platform and to deliver on our promise to be your most trusted commercial advisor. Our Commercial team has developed unique partnerships with national and international insurers and reinsurers, with whom we have established pre-comm

OTHER WHITEPAPERS
news image

Reinsurance management: The biggest risk in insurance?

whitePaper | June 14, 2023

Reinsurance is a vital function, empowering insurers to offer more coverage to more customers at a more competitive price. But at a time when every insight, innovation and advantage is needed to help insurers take ownership of their reinsurance program, their antiquated reinsurance management systems and methods may be the biggest factor limiting their reinsurance program success and business performance.

Read More
news image

The future of motor risk: Driver today, passenger next

whitePaper | September 26, 2022

There are several developments that continue to impact the automotive industry to a significant extent. Among these factors are the push by governments towards vehicles powered by new energies, the COVID-19 pandemic with its subsequent economic fallout – such as chip and raw material shortages – war, socio-demographic changes, and technological advancements.

Read More
news image

Unlock the potential of embedded insurance

whitePaper | December 5, 2022

The convenience of embedded insurance is making it one of the most desirable forms of insurance distribution for all parties involved. On the demand side, consumers’ appetite for convenience — and their willingness to conduct transactions online — are both higher than ever. The technologies involved in embedding insurance coverage into other products and services have been perfected. As a result, insurers are uniquely positioned to benefit from the rise of embedded insurance.

Read More
news image

Legal expenses insurance: A force for social good

whitePaper | July 18, 2023

Legal expenses insurance (LEI) has been available in the UK for almost 50 years. While adoption was initially slow, its popularity has grown enormously over that time. Today, tens of millions of people and hundreds of thousands of businesses are insured against the potentially crippling costs of asserting even basic legal rights. Every week, LEI claims enable the pursuit and defence of thousands of cases that might otherwise have been abandoned as unaffordable.

Read More
news image

How are Insurers transforming with AI?

whitePaper | July 19, 2022

ML, a branch of artificial intelligence (AI), operates under the hood in many digital services we use today – including search engines, social media, e-commerce, and voice assistants. Automated, ML-powered systems have virtually unlimited computing power, resources, and memory in comparison to human counterparts and can be taught to “connect the dots” during data analysis.

Read More
news image

A digital divide?

whitePaper | February 24, 2020

Commercial property insurance providers find themselves operating in unpredictable conditions, with political and economic uncertainty having negative impacts on business activity in almost every industry. The retail sector is under particular pressure, but there are also significant problems in the o-ice buildings market, as businesses postpone expansion or investment plans, and some consider relocating facilities outside the UK once (or if) the Brexit process is completed.

Read More

Spotlight

Westland Insurance Group Ltd

Award winning Westland Insurance Group is one of the largest and fastest-growing independent property and casualty insurance brokers in Canada. With a national network of 195 locations and over 2,100 employees, the company continues to expand coast to coast. Learn more about why you should partner with us at www.westlandinsurance.ca/partner-with-us/ Personal Insurance Westland's brokers provide expert advice to home, business, and auto insurance clients. Since its founding in 1980, Westland has remained a family-owned company that is committed to supporting its local communities. www.westlandinsurance.ca/why-choose-us/ Commercial Insurance As a leading insurance brokerage in Canada, our scale and pace of growth allow us to continually invest in our platform and to deliver on our promise to be your most trusted commercial advisor. Our Commercial team has developed unique partnerships with national and international insurers and reinsurers, with whom we have established pre-comm

Events