Leveraging cloud to transform insurer operations

With hardening markets across many product lines, challenging reinsurance markets, and preparations for a once in a generation regulatory change on pricing, it could be said that the general insurance market is living through a perfect storm. Looking ahead to 2022 and the changes on the horizon, might the tide be about to turn? Or will the grave impacts of climate change, an ongoing pandemic, and the threat of many other headline-making loss events, such as a large-scale cyber-attack, mean that this is a state of play to get used to? This lively panel debate considers the overall state of the general insurance market, what routes there are to a more stable market, whether we should expect this period of instability to continue, and seeks to answer if general insurance is living through a perfect storm or not?

How to adapt to a new era in industries and take advantage of new technologies? How to take a competitive edge for a more profitable business? Virtual i Technologies take you a step forward with a click. Chief Product officer of Virtual i Technologies Ryan Mcgovern presented in the webinar about how the insurance industry can digitize and adopt technology for growing their businesses.

Electronic signature adoption is growing among Canadian insurance companies, driven in large part by consumer's expectations for convenient, personalized and efficient service. While the benefits of straight through processing are obvious, questions often still arise regarding the legal requirements and implications of bringing processes online.

Customers are looking for simple, straightforward processing of small commercial applications. Automated underwriting can help insurers get ahead in the “Race to Zero”— the point where applicants have no further questions to answer when they come to you for coverage except their business name and address. For effective automated underwriting, insurers must master the intersection of data, analytics, workflow, and technology.