Canadian Underwriter

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auto insurance

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LexisNexis Risk Solutions explores roadmap to “touchless” claims

March 22, 2017 by Canadian Underwriter

While some insurance carriers continue to favour traditional claims processes, the demand for faster cycle times, reduced expenses and improved customer satisfaction is driving increased automation and an eventual migration from virtual to “touchless claims,” according to a new report

News InsuranceLegislation / Regulation

Government of Manitoba announces legislation to reduce red tape imposed on businesses, industry and local governments

March 20, 2017 by Canadian Underwriter

The Government of Manitoba has announced proposed legislation that would reduce outdated, contradictory, complicated or ineffective regulatory requirements imposed on businesses, industry and local governments, provincial Finance Minister Cameron Friesen said last week. Friesen said in a statement that the

News InsurancePersonal LinesTechnology

U.S.-based DrivSafe launches mobile telematics app in Canada

March 7, 2017 by Canadian Underwriter

DrivSafe, a Boston, Mass.-based mobile telematics solutions company that specializes in telematics and analytics for the auto insurance industry, has announced the launch of its mobile app in Canada. The DrivSafe app helps auto insurance companies evaluate the driving habits

News InsuranceMarkets / CoveragesProfessional Development

Offers that help save money on home and auto insurance of interest to customers: broker forum speaker

March 6, 2017 Jason Contant, Online Editor

Brokers could provide added value to their customers by suggesting offers that that help save money on home and auto insurance, attendees to the Insurance-Canada.ca Broker Forum (ICBF) heard last week. “Fully 50 to 60% of your customers are saying,

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Fintech firms can ‘get to market quickly,’ ICTC speaker warns

February 28, 2017 Greg Meckbach, Associate Editor

Competitors outside the property & casualty industry are trying to “bite away” at the P&C market, while fintech is starting to “emerge in spaces where banking isn’t,” a senior executive with a major insurer told industry professionals Tuesday. “Over the

News CatastrophesConstructionInsurance

Government of Alberta advances Disaster Recovery Program funding to help with Fort McMurray uninsurable costs

February 24, 2017 by Canadian Underwriter

The government of Alberta announced on Thursday that it is advancing $20 million in Disaster Recovery Program funding to help with uninsurable costs related to the Fort McMurray wildfire. The funding is intended to help with uninsurable costs, such as

News AssociationsCommercial LinesInsuranceLegislation / RegulationPersonal LinesTechnology

Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Insurtech platform revenues to approach US$235 billion by 2021, driven by machine learning and blockchain adoption: report

December 13, 2016 by Canadian Underwriter

Fintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said

News CatastrophesCommercial LinesEarnings / RatingsInsuranceLegislation / RegulationPersonal Lines

Canadian P&C outlook stable, driven by good demand, strong underwriting discipline and solid balance sheets: Moody’s

December 13, 2016 by Canadian Underwriter

The outlook for the Canadian property and casualty (P&C) industry is stable, driven by good demand, strong underwriting discipline and solid balance sheets, Moody’s Investors Service said in a report released on Monday. However, despite the stable outlook, these trends

News InsurancePersonal LinesTechnology

Use of digital channels increasing, but technology can’t fully replace human connections during auto claims process: J.D. Power U.S. study

October 27, 2016 by Canadian Underwriter

Millenials’ customer satisfaction with the auto insurance process in the United States, while still the lowest among all generations, is improving and carrying the rest of the industry with it, according to the J.D. Power 2016 U.S. Auto Claims Satisfaction

News AssociationsInsuranceLegislation / RegulationPersonal Lines

More fairness in Ontario auto insurance needed to fix the system: IBC’s Forgeron

October 24, 2016 by Canadian Underwriter

Fairness is still lacking in Ontario’s auto insurance system and a balance needs to be struck between both lower premiums and the right level of benefits, Don Forgeron, president and chief executive officer of Insurance Bureau of Canada (IBC), said

News InsurancePersonal Lines

Auto insurance rates rise in Ontario despite Liberal pledge to cut by 15 per cent

October 19, 2016 The Canadian Press

TORONTO – Auto insurance rates are rising in Ontario, moving the Liberal government even further away from a self-imposed target of an average 15-per-cent reduction. The Liberals promised in 2013 to cut auto insurance premiums an average of 15 per