Keyword
fintech
Meet the new Canadian Association of Mutual Insurance Companies president
October 22, 2020 by Greg MeckbachWith the COVID-19 pandemic drastically reducing the frequency of in-person meetings, the new president of the Canadian Association of Mutual Insurance Companies (CAMIC) plans to meet online with each member to hear their concerns. “I am mapping out a plan…
One broker’s bold prediction about contactless payment options
September 21, 2020 by Greg MeckbachConcerns over the risk of COVID-19 transmission could accelerate the changes that technology has been bringing to financial transactions, including contactless payment options, a commercial broker suggests. “Financial services are changing very quickly,” said Mark Morency, senior vice president and…
Four opportunities COVID provides for fintechs
April 23, 2020 by Greg MeckbachThe COVID-19 pandemic is putting renewed emphasis on digitizing of insurance processes including payments, claims, applications and signatures, a Canadian fintech venture capital executive suggests. “This is a good opportunity for fintech, because the acceleration of innovation in financial institutions…
Three reasons fintech is driving brokerage acquisitions
December 11, 2019 by Greg MeckbachDisruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed…
Brokers await regulations on bank fintech changes
May 17, 2019 by Jason ContantAs the federal government drafts regulations related to recent Bank Act amendments, the Insurance Brokers Association of Canada (IBAC) is confident that the fundamental aspects of their position have been upheld. Bill C-74, which received royal assent in June 2018,…
Intact-backed insurtech cracks the Fintech100 list
October 23, 2018 by Greg MeckbachA French robo-broker and an auto insurer backed by Canada’s largest property and casualty carrier are among the insurtechs “driving disruption” in financial services, a report released Tuesday suggests. KPMG announced Tuesday the fifth annual Fintech100, a report that highlights…
Brokers, mutuals split on tactics after ministry’s controversial phone call
May 22, 2018 by David GambrillThe Canadian Association of Mutual Insurance Companies (CAMIC) and the Insurance Brokers Association of Canada (IBAC) are split on tactics regarding a federal government bill that would allow banks to share customer data with fintechs. Which path better protects consumers…
Why mutuals are concerned about banks sharing data with fintechs
May 2, 2018 by David GambrillThe Canadian Association of Mutual Insurance Companies (CAMIC) Wednesday called on Parliament to withdraw two sections from proposed Bill 74 that would allow chartered banks to share their customers’ banking data with fintechs. CAMIC and its 76 member companies are…
Keep banking and insurance separate: IBAC
April 20, 2018 by Jason ContantThe Insurance Brokers Association of Canada (IBAC) is welcoming explicit restrictions on banks’ business powers related to insurance contained in Bill C-74, but wants to make sure the historical separation between banks and insurance continues. The federal government’s recently introduced…
Digital Access
December 1, 2017 Ron Stokes, FinTech Leader; and Morgan Richardson, Manager, Financial Services Transactions, EY CanadaAs fintechs and insurtechs take hold, more than just the tech is changing. Incumbents are joining fintech firms in realizing a digital approach — anchored by strong and agile core systems — is necessary to put customers first. And cultivating that approach from the time customers are young offers promise of customers for life.
Canada’s fintech adoption rate doubles in last 18 months: EY report
July 25, 2017 by Angela StelmakowichCustomer wants, needs and demands are guiding players in Canada’s fintech space toward developing simpler, more transparent and customer-centric financial services products, with insurance expected to see a big increase in uptake in future, suggests new research released Tuesday by…
Embracing the Bogeyman
July 14, 2017 Angela Stelmakowich, EditorSo much technology; so many possibilities. Increasingly for the property and casualty insurance industry, however, it feels as though a greater ease is developing around technology and technological advances. No longer is technology seen in p&c insurance as the stereotypical…