Topic
Technology
How are your clients finding you? Follow the voice…
June 10, 2018 by Jason ContantUsing voice search is a key way for brokers to remove friction from the purchase process, Andrew Lo, president and CEO of Kanetix Ltd., said last week at Insurance Canada.ca’s Technology in Action seminar in Toronto. Lo used the example…
From days to minutes: New tech overhauls quote and bind process
June 10, 2018 by Jason ContantThe 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…
How telematics affected this insurer’s loss ratio
June 10, 2018 by Greg MeckbachCould Canadian insurers cut auto claims costs by 15% by using telematics? Perhaps, if they could somehow import the experience of European insurers. An unnamed European insurer compared its auto insurance customers who were using telematics with its customers who…
Privacy Commissioner gives brokers more ammunition to sell cyber policies
June 6, 2018 by Jason ContantCanada’s privacy commissioner is looking to add some bite to the country’s federal privacy laws. And if you need another reason to keep cyber insurance top of mind for your clients, look no further than a recent survey from the…
Why Canadians don’t want to buy insurance from Amazon, Facebook or Google
June 5, 2018 by Jason ContantCanadians are less likely than others around the world to buy insurance products from “BigTech” companies such as Amazon, Facebook and Google. Not that other consumers from around the world are in a big rush to buy their insurance from…
Patience urged of insurers who don’t see value in their early AI investments
June 5, 2018 by Jason ContantDespite all the hype about artificial intelligence (AI), and the significant investment in it, most global insurers don’t think they are getting value from their investment. In fact, 85 per cent of more than 1,000 global executives polled by McKinsey…
Economical rolls out Vyne for brokers in select areas
June 4, 2018 by Jason ContantEconomical Insurance launched its new broker technology, Vyne, in New Brunswick and Prince Edward Island Monday. For use in personal lines and individually rated commercial auto (IRCA), Vyne is a Guidewire-based computer system aimed at streamlining workflows for brokers. The…
Ontario Election 2018: Trailing Liberals promise auto insurance discounts
June 4, 2018 by Greg MeckbachPolls show the Ontario Liberals will not likely govern the province after the election this Thursday but, for what it’s worth, a vote for Liberal candidates is a vote for insurance discounts for motorists who use apps intended to discourage…
How home insurers could be on the hook for cyber bullying
June 4, 2018 by Greg MeckbachCyber bullying, which can result in liability claims under home insurance policies, will soon be grounds for lawsuits in Nova Scotia. The Nova Scotia government is now “on the verge” of bringing Bill 27 into force, law student Brayden McDonald…
Here’s a way small brokerages can afford AI
June 4, 2018 by Jason ContantBudget may not be a big concern for larger companies looking to incorporate artificial intelligence (AI) into their operations, but is AI cost-prohibitive for small, local brokerages? “I don’t think you need a massive budget to do some of this…
How much ICBC expects to save by using new anti-fraud software
May 31, 2018 by Jason ContantThe Insurance Corporation of British Columbia (ICBC) expects to save $43 million this fiscal year and another $59 million the following fiscal year by using specialized anti-fraud software that the public insurer implemented in 2017. “And that’s on top of…
How AI can help you find the hot sales leads
May 30, 2018 by Jason ContantLooking for a hot lead? Why not let a machine do that for you? Brokers and insurance companies can use artificial intelligence (AI) to cull prospects who are showing a keen interest in buying insurance products, Andrew Lo, president and…