Canada’s Competition Bureau has obtained a court order to advance a civil investigation into allegations of anti-competitive conduct by Applied Systems Inc. and its affiliates, including Applied Systems Canada Inc. Both the Competition Bureau and Applied Systems replied in separate…
Hard market conditions in personal lines across Canada are not slowing down in 2023 Q3, according to data from tech vendor Applied Systems. Auto and homeowner premiums are rising year-over-year in all provinces. In 2023 Q3, personal auto premiums in…
While consumers might have noticed their insurance rates are still increasing, prices are flattening out compared to last year’s single- or double-digit increases, two new reports from Applied Systems showed. Commercial lines saw an overall rate increase of 7.39% in…
The insurance landscape is in a state of rapid change. Brokers are experiencing a transformation that we can all agree is long overdue. Adopting new technology and optimizing operations can be painful and must be managed with strategy and proper…
Only 38% of insurance brokerages are using their management systems to produce data analytics solutions for their employees, clients and stakeholders, finds Applied System’s ‘Digital Agency Annual Report.’ That’s concerning, considering 99% of brokerages have a management system, which suggests…
Commercial lines premium renewal rate increases are slowing down compared to last year, but since the beginning of 2022, renewal rates are starting to uptick again, according to recent findings by Applied Systems. On average, rates across all commercial lines…
Canadian brokers have a leg up on their counterparts in the United States and the U.K. when it comes to digital transformation, a recent survey finds. Seventy-three percent of Canadian brokerages say they have a digital strategy in place, and…
Personal auto premium average dropped 2.7% in 2021’s third quarter compared with the same period a year ago but rose 9.4% when compared to second quarter 2021, according to the latest Applied Rating Index, which reports Canada-wide personal auto and…
With more and more property and casualty insurance brokerages moving into the employee benefits (EB) space, there is a need to have an integrated technology solution, tech vendor Applied Systems said recently. “We know our P&C customers are moving further…
Canada’s hard market in commercial P&C is showing no signs of letting up, with all major lines seeing average premium renewal rate increases in the second quarter of 2021. “Overall, the magnitude of rate increases across all segments included in…
Average personal auto premium renewal rates in Canada continued their downward trend in the second quarter of 2021, while personal property (homeowners) renewal rates remained up over the same period, according to Applied Systems’ latest premium rate index. In Q2…
Canadian commercial line renewal rates increased at a slower pace across all major lines in Q1 2021 compared to one year ago, according to the latest commercial premium rate index from tech vendor Applied Systems. Overall, the magnitude of rate…