Topic Operations
Insurers pledge small business help as pressure mounts to address rising rates
October 29, 2020 by The Canadian PressA group representing Canadian insurance companies say it is launching a team that will help small businesses find affordable coverage as rates rise because of the pandemic. The Insurance Bureau of Canada, an association that represents the industry, says the…
How COVID made it easier to win the ‘war for talent’
October 28, 2020 by Jason ContantIf there’s a silver lining to the COVID-19 pandemic, it’s that the pandemic might actually aid in talent acquisition – even if that talent comes from outside Canada. It’s no secret there’s an ongoing “war for talent” in Canada’s property…
How ‘extra steps’ can make for a bad customer experience
October 27, 2020 by Greg MeckbachBrokers who are concerned about carriers having “too direct” of a relationship with the broker’s customers should consider what service those customers are expecting, an industry consultant suggests. “As an industry, we have a number of places where we have…
What carriers are telling brokers who don’t invest in technology
October 26, 2020 by Greg MeckbachWith a week to go before Hallowe’en, Ontario brokers heard some spooky stories last week about what happens if a brokerage does not invest in keeping up to date with technology. “Technology is going to be a much more permanent…
NBS 2020 What brokers REALLY think about their jobs and their bosses
October 26, 2020 by David GambrillBrokers are more satisfied with their jobs now than they have been over the past three years, Canadian Underwriter’s 2020 National Broker Survey reveals. What’s more, they like their bosses better than their bosses think they do (at least, this…
How solvency risk has changed since the days of the eight-track tape
October 23, 2020 by Greg MeckbachWhen Bob Tisdale started his career about 40 years ago, insurers were more likely to get into financial trouble. “When I first started in this industry in the early days, I was doing commercial underwriting and there were a lot…
The downside of selling for 4 times multiple during COVID
October 23, 2020 by Greg MeckbachDespite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15…
Digital brokers: Should you build your own tech, or buy someone else’s?
October 22, 2020 by David GambrillOkay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers…
How COVID accelerated broker tech by 4-5 years
October 21, 2020 by David GambrillCOVID-19 has been good for the broker channel, in the sense that it has accelerated digital growth at brokerages by at least four to five years, a digital broker told the Insurance Brokers Association of Ontario (IBAO) virtual convention Wednesday.…
Finding that swagger
October 20, 2020 by Adam Malik, Managing EditorInsurance is a cool industry, but not enough people know it. John McNeil, program coordinator and full-time professor at Humber College’s insurance management program, explains how to change that – As told to Adam Malik We as an…
How to survive a pandemic
October 20, 2020 by Rob Vosseler, Executive Vice President, Principal Broker, Union Power Insurance Brokers Inc.A broker principal shares his story about how his fledgling brokerage managed to navigate its way through the various business disruptions caused by COVID-19
How a smart phone can drive efficiency in the claims process
October 19, 2020 by Greg MeckbachUsing a smart phone to take pictures of property damage as soon as it happens could speed up the claims process and reduce fraud risk, the head of a Canadian claims technology vendor suggests. “The best way to drive efficiency…