Keyword
innovation
Regulation: A threat or benefit to innovation?
February 8, 2022 by Jason ContantWhile there is a perception that regulation is a threat to innovation in the Canadian financial services space, that’s not the case, say executives from a fintech hub. “[For] any start-up here in Canada, I think there’s a bit of…
Why don’t Ontario auto insurance clients have more choice?
February 2, 2022 by Jason ContantOntario auto insurance consumers would love the option to purchase a scaled-down auto insurance policy tailored to their individual needs and budgets, a speaker said at an industry event last week hosted by the Financial Services Regulatory Authority of Ontario…
FSRA’s case for principles-based regulation
February 1, 2022 by Jason ContantPrinciples-based regulation is the right system for private sector innovation, a speaker told an industry event last week. “If you imagine trying to deal with a highly innovative sector based on a very rules-based rigid, detailed system, I think it…
When humans team up with machines, P&C innovation wins
May 4, 2021 by David GambrillDebates about whether humans or computers are at the centre of innovative insurance products are a red herring — the best way to build an insurance product is an integrated approach using the best of what humans and machines have…
The future of carbon removal insurance: As big as oil and gas?
April 1, 2021 by David GambrillCarbon removal is poised to become a booming industry over the next 30 years, providing an opportunity for innovative P&C insurers to pioneer in carbon removal insurance products, Swiss Re’s chief risk officer predicts. “By 2050, the industry of carbon…
Opinion: This is where insurance companies need to look to be ready for tomorrow’s customers
March 18, 2021 Anthony Grosso, EISThe acceleration of digital transformation in the pandemic era means insurance companies need to evolve, and that starts with reimagining your core technology systems. Over the insurance industry’s long history, a key hallmark has been its promise of peace-of-mind, trust…
IBAO’s stance on electronic termination of coverage
November 24, 2020 by Greg MeckbachInsurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto…
Insurtechs urge P&C industry to keep foot on the gas with innovation
August 17, 2020 by Adam MalikInnovation in the insurance industry has shown to be critical over the last number of months, and insurtechs are urging brokers and carriers not to lose the momentum they’ve established. Insurtechs called for closer collaboration between the property and casualty…
The latest in P&C professional development training: How to be innovative
February 3, 2020 by Jason ContantCanadian insurance professionals want to learn how to be innovative, and they are enlisting the help of a Canadian-based open innovation centre to explore the new frontier of design thinking. “Design thinking revolves around a deep interest in developing an…
You’re insuring the cars. Why not sell or lease them, too?
January 29, 2020 by Jason ContantHere’s a crazy thought: What if customers bought or leased vehicles directly from an insurer instead of going to an auto dealership? Insurers are exploring such a scenario right now, Sven Roehl, co-founder of Cookhouse Labs in Toronto, told Canadian…
This regulator’s new approach to innovation
October 11, 2019 by Jason ContantOntario’s new financial regulator wants to encourage innovation by allowing new product or distribution ideas on a trial basis. “Because if you don’t allow people to iterate… then it’s easier for them not to come in,” Mark White, CEO of…
Does product innovation require a change in coverage?
September 13, 2019 by Jason ContantRemarkable product innovation can occur without really ever changing the core coverage of the product, Marc Lipman, chief operating officer at AIG Insurance Company of Canada, said Tuesday at the Connected Insurance Canada conference. He used the example of travel…