The passing of the Fighting Fraud and Reducing Automobile Insurance Rates Act, 2014 has fuelled plans by the Ontario Trucking Association to investigate if roadside towing charges by heavy-duty recovery firms reflect the rates officially advertised on their websites. OTA…
KTX Insurance Brokers Ltd. is looking to respond to consumer demand to interact online with the launch of a new mobile app that allows policyholders to access both advice from licensed brokers and self-serve their insurance policies online. Through the…
Equipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of…
Seven in 10 consumers around the world would welcome robo-advisory services – computer-generated advice and services that are independent of a human advisor – for their insurance, banking and retirement planning, according to a new report by Accenture. The 2017…
Mobile adoption is high among U.S. Millennials when it comes to retail banking, but so too is the likelihood of visiting a teller or calling a contact centre, reveals new research released Thursday by New York-based Bain & Company Inc.…
The Registered Insurance Brokers of Ontario (RIBO) has embarked on a major overhaul of its spot check program with the twin goals of promoting better consumer protection and improved broker risk management, says Norma Hitchlock, RIBO’s outgoing president. While the…
The factors influencing customer loyalty are changing, demanding that insurers rethink and realign how their businesses meet customer expectations, notes a new thought leadership report released Thursday by Majesco. A significant gap exists between consumer needs and expectations and what…
Lower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini…
There is an apparent gap between polled U.S. drivers who are open to taking part in usage-based insurance (UBI) and those who are provided the opportunity to do so, suggest survey results released today by LexisNexis Risk Solutions. That disconnect…