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IBAO Announces 2018 Sponsors

June 21, 2018 by Insurance Brokers Association of Ontario

TORONTO, June 21, 2018 /insPRESS/ – The Insurance Brokers Association of Ontario’s (IBAO) Sponsorship Program drew robust support from across the industry for 2018. “The support of our sponsors allows us to take a strong position in the industry and lead

Photos BrokersInsurance

Inaugural IBABC Awards, Vancouver, May 31, 2018

June 20, 2018 Canadian Underwriter

In celebration of its 100th anniversary, IBABC held its annual conference gala on May 31, 2018. Nearly 1,100 people attended the event at Vancouver’s BC Place stadium. In recognition of the work done by IBABC-member insurance brokers over past decades

News BrokersTechnology

How a $3-million brokerage increased its premium volume by 2,133% in five years

June 20, 2018 by Jason Contant

Fear of technology is preventing many brokerages from reaching their strategic objectives, a digital broker said last week at Gore Mutual’s Fast Forward event in Toronto. And it’s a myth, he added, that only large companies can afford to use

News BrokersInsuranceMergers and Aqcuisitions

Western Financial moves into central Canada with brokerage acquisition

June 20, 2018 by Jason Contant

Western Financial Group Inc. has acquired its first non-western Canadian brokerage, Axion Insurance Services Inc. Completed on June 19, the deal will allow Western Financial to add 10 Ontario-based locations and approximately 60 insurance experts to its existing network. Kenny

News BrokersInsuranceTechnology

Why this broker takes exception to usage-based auto insurance app

June 19, 2018 by Greg Meckbach

Usage-based insurance has raised the profile of insurers on consumers’ electronic devices, and this could be bad news for some brokers. Several auto insurers are using UBI to offer discounts based on data gather from telematics. That technology lets insurers

insPRESS AnnouncementsBrokersClaimsInsuranceMGAsProfessional DevelopmentTechnology

The Digital Future of Insurance: Is Risk Passé?

June 19, 2018 Insurance-Canada.ca

TORONTO, June 19, 2018 /insPRESS/ – Risk is not passé just yet, but it is changing dramatically, and as it evolves in nature, insurance participants themselves are at risk. Don’t move too slowly – or too quickly! – but not

News AssociationsBrokersInsuranceMarkets / Coverages

Quebec places number on brokerage distribution agreements with insurers

June 18, 2018 by Jason Contant

The Quebec National Assembly has adopted Bill 141, which will require brokerages in the province to have at least three distribution agreements in place for personal lines with insurers “that are not in the same financial group.” Hypothetically, brokerages could

News BrokersCatastrophes

New basement flood awareness training for home insurance brokers

June 14, 2018 by Greg Meckbach

A course on basement flooding risk will likely be available to Canadian property and casualty insurance brokers within the next year, Blair Feltmate, head of the Intact Centre on Climate Adaptation, told Canadian Underwriter Monday. The Intact Centre also plans

News BrokersTechnology

Are independent brokerages in Canada adopting digital technology?

June 13, 2018 by Jason Contant

While independent brokerages in four countries (including Canada) are not fully embracing digital technology in 2018, Canadian brokerages are showing an increased adoption of cloud hosting, according to a new annual report from software vendor Applied Systems. Applied released Tuesday

News BrokersInsuranceLegal

How brokerages should handle employees’ use of social media

June 13, 2018 by Greg Meckbach

Negative public reaction to some high-profile Twitter and Instagram posts raises the question of whether insurance brokerage owners should monitor the personal social media accounts of their workers. “We don’t police our staff’s Facebook pages,” reports Calgary brokerage owner Robyn

News Brokers

The key for brokers to stand out from the competition

June 11, 2018 by Greg Meckbach

For property and casualty insurance brokers, providing “exceptional customer service” is at least as important as the insurance products themselves, suggests one underwriter. “There are a lot of people out there who sell insurance,” Jenny Hallahan, manager of underwriting for

News BrokersInsuranceTechnology

From days to minutes: New tech overhauls quote and bind process

June 10, 2018 by Jason Contant

The launch of the new broker technology Vyne will eliminate some of the “inefficient steps” that brokers have to take between quoting and binding, potentially reducing the quote and bind process from days or weeks to just minutes, the company