Topic
Products
This regulator’s new approach to innovation
October 11, 2019 by Jason ContantOntario’s new financial regulator wants to encourage innovation by allowing new product or distribution ideas on a trial basis. “Because if you don’t allow people to iterate… then it’s easier for them not to come in,” Mark White, CEO of…
Washing away Z-codes
October 10, 2019 Monica Hanna, Business Solutions Delivery Lead, CSIOCarriers have made significant strides in ridding their systems of nefarious Z-codes. Here’s an update on their mop-up operations….
This auto rating factor could give brokers a headache
September 26, 2019 by Greg MeckbachBritish Columbia’s auto insurer has one rating factor that makes sense from an underwriting point of view, but could be onerous for brokers, an insurance defence lawyer suggests. The Insurance Corporation of British Columbia requires motorists in the province to…
Does product innovation require a change in coverage?
September 13, 2019 by Jason ContantRemarkable product innovation can occur without really ever changing the core coverage of the product, Marc Lipman, chief operating officer at AIG Insurance Company of Canada, said Tuesday at the Connected Insurance Canada conference. He used the example of travel…
Ontario approves electronic proof of auto insurance
September 5, 2019 by Jason ContantOntario has become the fourth province in Canada to approve the use of electronic proof of auto insurance (EPAI) for drivers, effective immediately. The approval, announced Thursday morning by Ontario’s Minister of Finance, Rod Phillips, follows the lead of Alberta,…
How Spotify’s business model describes the future of insurance
August 29, 2019 by Jason ContantForget everything you know about insurance. That’s what the insurance product of the future will look like, says Tim Attia, CEO and co-founder of New York City-based Slice Labs. “Insurance will have to be like Spotify,” Attia said, referring to…
Where to find travel coverage for thrill-seekers and pre-existing conditions
July 19, 2019 by Jason ContantCAA Travel Insurance has introduced two new endorsements for thrill-seekers and travellers with pre-existing conditions. The products, an Adventurous Air Activities Rider and a Seven-Day Pre-Existing Condition Rider, include coverage that is not typically available in standard travel insurance policies,…
One way to minimize double entry of data
June 19, 2019 by Jason ContantOne question often on the minds of brokers is how do they better digitize their processes and minimize the amount of data they have to enter into various systems. “Our position is that data should be created in a digital…
Do you need an API product manager?
June 14, 2019 by Jason ContantAre you working with enough application programming interfaces (APIs) that you need an API product manager? Mark O’Neill, VP analyst at research and advisory firm Gartner, recommends that companies create such a role within their organization. The role doesn’t necessarily…
Should cyber insurance products become more standardized?
June 10, 2019 by Jason ContantHow far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There…
New cyber insurance platform offers quotes using single piece of data
May 23, 2019 by Jason ContantWhile online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote…
Allstate Canada debuts telematics app
May 16, 2019 by Jason ContantAllstate Insurance Company of Canada has joined the ranks of insurers providing telematics apps. Allstate Canada said Monday it has debuted a “personalized app for the modern driver” as National Road Safety Week (May 14-20) kicks off in Canada. Several other…