Topic Trusted Advisor
How to use your brokerage’s data to gain and retain clients
March 4, 2024 by Alyssa DiSabatinoFinding ways to harness your brokerage’s data can improve customers’ expectations and overall satisfaction rates, two brokerage heads shared at the Insurance Canada Technology Forum in Toronto. For example, brokerages tracking and taking action on their internal metrics will…
2024 Executive Outlook |Matthew Turack, CAA Insurance, Echelon Insurance, Orion Travel Insurance
December 28, 2023 by Canadian Underwriter StaffMatthew Turack, Group President, CAA Insurance, Echelon Insurance, Orion Travel Insurance Collaboration will be key for the insurance industry in 2024. We are seeing complex issues take hold that cannot be solved by one organization, industry or sector. The rising rate…
How insurers can manage losses as NatCat events ramp up
December 18, 2023 by Philip PoradoWhatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
How COVID-19’s wane could change commercial real estate coverage
December 13, 2023 by Philip PoradoReal estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that…
Where you can ease customer buying pain points
November 23, 2023 by Alyssa DiSabatinoP&C firms must simplify their customers’ user experience and reduce overall customer touch points, panellists at Reuters’ Future of Insurance Conference in Toronto shared. Inefficient processes can have customers bouncing from one app to another, significantly slowing down their insurance…
How Canadian P&C firms are developing diversity
November 16, 2023 by Alyssa Di SabatinoRegardless of where Canadian brokerages are in their efforts to build diverse workplaces, they generally agree on three good ways to get there. When asked what actions brokerages could take to increase diversity, survey respondents advocated promoting diverse talent to…
Why there’s no such thing as ‘bad risk’
November 14, 2023 by Adam MitchellNew leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The…
What it’s like to be a public sector risk manager
October 26, 2023 by Alyssa Di SabatinoNo two days are alike for public sector risk managers. One day, their jobs might require predicting risk for a transit facility; the next day, a long-term care home. That’s why it’s crucial for public risk managers to break out…
How the hard market impacts public risk managers
October 25, 2023 by Alyssa Di SabatinoBudgeting is where risk managers of publicly owned organizations feel the hard market the most. Public risk managers must often buy insurance for their entire region or branch while predicting what future losses may be. Like all risk managers, they…
Insurance Institute names new board leader
October 24, 2023 by Canadian Underwriter StaffValérie Lavoie is now head of the Insurance Institute of Canada (IIC)’s board of governors. The Insurance Institute is the educational arm of the property and casualty (P&C) insurance industry. IIC is charged with setting professional standards for the industry…
How higher interest rates and inflation affect brokerage M&A
October 19, 2023 by Jason ContantFinancial institutions, more often than not, have surplus capital. “To satisfy their shareholders, either they need to invest that capital or buy into businesses so they can have a return,” notes Suzanne Pountney, president of Insurance Brokers Association of Ontario…
Why RIBO is updating its entry level broker exam
October 6, 2023 by Alyssa DiSabatinoRegistered Insurance Brokers of Ontario (RIBO) is enhancing the standards for becoming a licensed insurance broker in Ontario by making changes to its entry-level exam. The move is part of the regulator’s ongoing efforts to ensure new brokers better understand…