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Opinion: Brokers need the right tools for the digital age

June 7, 2021 Nick Frank and Wei Ke, Simon-Kucher & Partners

Caution and single-steps forward are not what brokers need from their insurance carrier partners as the industry accelerates into the digital age. The importance of digital distribution following the COVID-19 pandemic is undeniable. As a result, insurers need to keep

News Insurance

Latest cyberattacks on insurers ‘a wakeup call’ to shore up security

April 26, 2021 by Adam Malik

With a new cyberattack focused specifically on the insurance industry, a cyber expert is urging insurance companies need to up their security game in order to protect themselves and their customers. Otherwise, insurers could be on the hook for a

News Insurance

Why change in P&C is a difficult proposition: The innovator’s dilemma

April 14, 2021 by Adam Malik

Insurers are between a rock and a hard place when it comes to changing the way they do business, because of the risk of harming broker relationships, investment costs, and, at the end of the day, the current system works,

News Insurance

Sky’s still the limit for Canadian P&C industry consolidation: broker exec

April 6, 2021 by Adam Malik

Canadian property and casualty insurers have seen many a deal take place over the years — and it would be no surprise to see more to come, says a broker executive. During the latest edition of the Insurance Institute of

News Insurance

What Canada’s brokers have asked of insurers on behalf of Canadians in dire straits

March 25, 2020 by David Gambrill

Canada’s national broker association issued an open letter to its insurer partners this week, recommending flexible payment options and emergency coverage extensions for clients in need, as well as support for single-office brokerages disabled by an outbreak of COVID-19 requiring

Feature BrokersInsurance

Executive Outlook 2020 | Rowan Saunders, Economical

December 27, 2019 by David Gambrill

Rowan Saunders, President, CEO, Economical Insurance Insurers across Canada are exploring new ways to embrace digital and improve customer experience in the middle of a hard market. This necessary transformation is the most important issue we face. Within the context

News Mergers and Aqcuisitions

Two 100-year-old mutual insurers vote to amalgamate

July 13, 2018 by David Gambrill

Norfolk Mutual Insurance Company and Wabisa Mutual Insurance Company in Ontario have voted to amalgamate under the new name “Nova Mutual.” The two mutuals held separate special general meetings Tuesday on the proposed amalgamation, scheduled to take effect January 1,

News BrokersInsuranceTechnology

How blockchain will help brokers bypass traditional insurers

July 12, 2018 by David Gambrill

Vancouver-based Fineqia International Inc. has taken an equity allocation in Black Insurance, a Tallinn, Estonia-based digital insurance startup on the blockchain that has set its sights on creating a direct investor-to-broker relationship, bypassing the need for a traditional insurance company.

News ClaimsInsuranceTechnology

Insurer exploration of artificial intelligence accelerating: InsurTechTO speaker

November 7, 2017 by Angela Stelmakowich

It is still “early days” for most insurers in Canada when it comes to employing artificial intelligence (AI), but exploration and use of the techniques is accelerating very quickly, Greg McCutcheon suggested Monday during InsurTechTO in downtown Toronto. “I would

News CatastrophesClaimsInsuranceReinsurance

Hurricanes to date a capital event for reinsurers, 2017 could be even more costly Cat year than 2005

October 16, 2017 by Canadian Underwriter

The above-average activity for the Atlantic hurricanes season so far – a season that is not yet done – is already a capital event for p&c reinsurers and the remainder plus wildfire activity likely only contributes to nervousness, S&P Global

News AssociationsCatastrophesClaimsInsuranceReinsurance

Bermuda’s global insurers, reinsurers could fund at least US$25 billion of insured losses from hurricanes

October 11, 2017 by Canadian Underwriter

Bermuda market firms may fund at least a quarter of the estimated US$100 billion in aggregate insured losses from hurricanes Harvey, Irma and Maria, suggest preliminary aggregated loss estimates from the Association of Bermuda Insurers & Reinsurers (ABIR). “Based on

News InsuranceMarkets / CoveragesTechnology

Endeavour, Advent Claims partner to support Lloyd’s coverholders in Canada

September 7, 2017 by Canadian Underwriter

Advent Claims will provide its claims management system to Lloyd’s broker, Endeavour Insurance Services, as part of a new partnership arrangement meant to support London market coverholders operating in Canada. Advent Claims is a technology-led claims third-party administrator; Endeavour Insurance