December 28, 2020 by David Gambrill
Jason Storah, CEO, Aviva Canada
For Aviva Canada, 2021 will be the year to redesign the way we do business, translate challenges into new opportunities, and create better experiences for our customers. If there is just one overarching hope that I have for 2021, it’s that we move away from being reactionary and instead focus on proactively helping people and businesses move forward after the massive detrimental impact that so many have faced in 2020.
COVID-19 will continue to accelerate changes in many facets of society and our industry, with digital transformation being at the forefront. We’ve known for a long time that consumers want to interact easily with their insurers and brokers digitally. We are digitizing our sales and service journey, but we are equally focused in the short-term on the more fundamental need to provide affordable coverage.
Pre-COVID-19, the commercial marketplace was already grappling with inadequate pricing and capacity issues. These challenges have been exacerbated thanks to continued market hardening, an increase in some insurers exiting certain segments, and an increasingly restrictive and hardening reinsurance market. All of this means technical rates will continue to face upward pressure while many consumers will be expecting reductions.
We are acutely aware that people and businesses are having a hard time and we are doing what we can to support all of our customers. Brokers and insurers have to work together now more than ever.
Collectively, we must find ways to get better at explaining the risks, educating customers on coverage, and protecting Canadians.
Scientific data can help protect us from massive climate-related devastation and we have a role to play in helping communities prepare for the inevitable changes that are ahead.
We have an awful lot to do, but working together, I’m confident we’ll be able to build a better tomorrow for Canadians.