Canadian Underwriter

Topic Operations

Watering a small plant to represent growing a business
News BrokersOperations

When growing a business, is competition overrated?

January 23, 2024 by Adam Mitchell

A new teammate once asked me how to succeed in our industry. My response was simple: Ask questions, show humility, and it’s amazing how much people will help you. This is a close-knit industry. You’d be surprised at how many

Teamwork and collaboration
News BrokersCommercialHRNova ScotiaOperationsPersonal AutoPersonal Home

How smaller brokerages can level the playing field

January 23, 2024 by Jason Contant

Smaller brokerages in the Canadian P&C insurance space can benefit from sharing best practices and platforms with other brokerages while still remaining independent, said the president of a family-owned brokerage in Nova Scotia.  Earlier this month, Halifax-based Keyes Insurance became

Autumn background with falling maple leaves.
News CatastrophesCommercial AutoInsurersOperationsPersonal AutoPersonal HomeProperty

The rise and fall of the P&C industry’s financial results

January 22, 2024 by David Gambrill

As the Alan Parson Project once sang, “What goes up, must come down,” and predictions about industry profitability made two years ago are unfortunately coming true — including a marked downward trend of financial results in 2023, says one veteran

Remote workplace
News HRManagementOperations

5 steps to negotiate a hybrid work schedule

January 19, 2024 by Jason Contant

Given the uptick in return-to-office mandates since the height of the COVID-19 pandemic, it’s important for you to advocate for yourself as an employee who wants hybrid work, but also understand the needs of your employer if you face resistance,

Businessman packing a box with desk items
News BrokersHRManagementMergers and AqcuisitionsOperations

Why this national consolidator made layoffs

January 19, 2024 by Alyssa DiSabatino

Westland Insurance issued an internal email dated Jan. 15, announcing the layoff of about 30 employees, citing the inability to meet its 2023 financial targets, as well as salaries and expenses that exceeded plan. “Today, I’m sharing some very difficult

Young job candidate waiting for an interview
News BrokersEducationHRManagementOperations

What younger job candidates want from P&C insurance jobs

January 18, 2024 by Steve Whitelaw, Applied Systems Canada

Canada’s P&C insurance industry needs to adapt in three key areas to better recruit and retain prospects among Millennials and Gen Z. First, it should teach recruits tech skills specific to the P&C industry. Second, it should use digital technology

Large group of yellow rubber ducks in formal rows with one different individual duck which is standing out from the crowd being purple in color.
News Claims TechnologyInsurersOperationsTechnology

How insurtechs can stand out in a crowded P&C market

January 17, 2024 by David Gambrill

Market dynamics are making it tougher for start-up insurtechs to find willing insurance company partners, and some say digital specialization is the key for insurtechs to make their way into the squeezed P&C industry. “Focus on specific differentiation,” advises Marcus

Concept of quantum computing
News Claims TechnologyCommercialEmerging RisksOperationsTechnology

Quantum computing: How could it be regulated?

January 16, 2024 by Jason Contant

Canadian financial services regulators have the emerging technology of quantum computing on their radar, but questions remain around its potential regulation. “Regulating quantum computing, especially in the context of the insurance industry, is complex due to the technology’s novelty and

Blurred office interior
News BrokersCommercialManagementOntarioOperations

Why Mitch Insurance opened its first Ontario branch — and what’s next

January 16, 2024 by Alyssa DiSabatino

Mitch Insurance has opened a new branch in Kingston, Ontario, with a tri-fold objective to grow its footprint organically, establish a commercial focus in the province and provide entrepreneurial brokers the chance to manage a book of business. The Kingston

M&A concept
News AlbertaB.C.BrokersCommercialHRManagementMergers and AqcuisitionsMGAsNova ScotiaOperationsPersonal AutoPersonal Home

Two brokerages, one MGU involved in recent deals

January 15, 2024 by Jason Contant

Editor’s Note: This story has been corrected to clarify that Keyes Insurance was not acquired by the Canadian Broker Network but rather joined its membership. Keyes Insurance remains a fully independent brokerage solely owned by Shaun Keyes. Canadian Underwriter apologizes

Illustration of three client silhouettes atop a phone screen, surrounded by pop-up feedback icons, such as five star ratings, email, reviews, etc
News BrokersInsurersOperations

What do your insurance clients actually need? Ask them

January 15, 2024 by Alyssa DiSabatino

The first step to conducting research on customer needs is to ask, rather than assume, what your customers want, suggested Robin Shufelt, CEO at First Acre Insurance — a new farming MGA.   Yet, despite the insurance industry investing nearly

Insurance agent consulting mature, middle-aged couple signing contract documents at home
News BrokersInsurersOperations

Regulators watching how broker sales tied to compensation

January 12, 2024 by David Gambrill

Canada’s insurance regulators are paying close attention to how insurers are assessing the performance of their sales force and/or linking broker compensation to the fair treatment of consumers. In particular, they are monitoring whether brokers are being assessed using purely