Topic Claims Technology
Why Intact is paying out less on total auto losses
November 10, 2021 by Greg MeckbachIntact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher…
What consumers want from the claims experience
October 6, 2021 by Jason ContantConsumers are looking for a hybrid claims processing model — an intermixing of virtual and self-service with human adjuster interaction, according to the Future of Claims 2021 Report from LexisNexis Risk Solutions. “No matter how great the technology is, consumers…
IBC investigative services to be transferred to Équité Association
September 28, 2021 by Greg MeckbachThe Insurance Bureau of Canada’s Investigative Services division is being transferred to a new organization, Équité Association, effective Oct. 1. That transfer has been approved by IBC’s board, IBC announced Monday. Équité Association integrates IBC’s investigative services division with the…
How insurtech is making ‘significant inroads’
September 20, 2021 by Greg MeckbachCanada has hundreds of new insurtech startups and some of them can help you give consumers the experience they have come to expect from other industries, speakers suggested during the 2021 A.M. Best Canada Insurance Market Briefing. “I think our…
Flying high: Drone use in insurance
September 16, 2021 by Brooke SmithBy 2022, 2.85 million small drones will be flying the friendly skies, according to projections by the Federal Aviation Administration. Our numbers are nowhere near as high. According to Transport Canada, as of Aug. 31, 63,200 drones were registered in…
Post-pandemic mindshift needed in claims leadership: Desjardins execs
August 27, 2021 by Canadian Underwriter StaffClaims leaders will need to evolve their mindsets if property & casualty insurers are to succeed in meeting customer demands post-COVID, senior Desjardins Insurance Group execs suggest. “Before the pandemic, we thought we were doing a good job, but we…
Why you need to offer a ‘Choose Your Own Adventure’ claims experience
August 27, 2021 by Jason ContantInsurers need to offer customers a claims experience that can shift and adapt depending on the policyholder’s personal circumstances and what they want on any given day, speakers said Thursday during Reuters Events’ Connected Claims Canada 2021 virtual conference. “I…
How this year’s B.C. wildfire season compares to previous years
August 10, 2021 by Jason ContantIt looks like this year’s wildfire season in British Columbia could be one for the record books. Between Apr. 1 and Aug. 9 of this year, the province saw 1,456 wildfires and nearly 650,000 hectares of area burned. This compares…
Look for AI to “hyper-personalize” customer experience in 3-5 years: Aviva exec
July 20, 2021 by David GambrillHyper-personalization of customer experience in three to five years’ time is a big reason why the property and casualty insurance industry is ramping up the use of artificial intelligence and machine learning now, an Aviva Canada tech executive suggests. “I…
New industry anti-fraud group gets its first CEO
July 19, 2021 by Greg MeckbachTerri O’Brien, a former vice president at TD Bank, is now CEO of Équité Association, the anti-fraud organization announced Monday. Équité Association is a new organization that integrates Canadian National Insurance Crime Services (CANATICS) and the IBC’s investigative services division.…
Insurers come out of COVID looking at AI-based claims tech
July 7, 2021 by Adam MalikNow that the global pandemic has expedited the use of artificial intelligence in auto insurance claims processing, carriers are left with a simple choice, according to one industry AI expert — invest or be left behind. The promise of processing…
How a return to work changed the approach of this Top 5 insurer
June 25, 2021 by Jason ContantAviva Canada is taking a deliberate and measured approach to change initiatives in the second half of the year, with the understanding the next few months and the looming return to the office will be a stressful time for employees.…