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Why opening up B.C. auto to competition could help even if it doesn’t lower prices
October 8, 2020 by Greg MeckbachBritish Columbia motorists would probably benefit from more choice in auto insurance if it means they can start doing more things by phone and online, suggests the co-founder of an online price comparison site. With the provincial election scheduled Oct.…
The good news and bad news about Ontario auto
September 24, 2020 by Greg MeckbachOntario auto insurance rates were 3.7% lower in the second quarter of 2020, than in the same period in 2019, but were still higher than in the three months ending March 30, 2020, data released Tuesday by LowestRates.ca suggests. “COVID…
What happens in Alberta when auto insurers are not comfortable with their profitability
September 23, 2020 by Greg MeckbachThe Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday…
How you could save an aging Ontario auto client $14,000
July 10, 2020 by Greg MeckbachIf you are not consistently shopping around for a better deal for your Generation X and Boomer-generation auto clients, they could be paying thousands extra after reaching middle age – unless they happen to find a lower rate from from…
How auto dealership closures affected the industry
June 23, 2020 by Greg MeckbachCanada’s property and casualty insurance industry saw a steep drop this past April in the number of auto clients seeking policies for new vehicles, and it’s not clear how long a more recent rebound will last, the head of LowestRates.ca…
How telematics impacts auto insurer’s risk
May 29, 2020 by Greg MeckbachAuto clients who think they are paying too much should consider telematics, the co-founder of LowestRates.ca suggests. With telematics, or usage-based insurance, the client normally installs an app on their smart phone or hardware into their vehicle diagnostic port, the…
This ‘cardinal sin’ will increase your client’s auto insurance bill
May 26, 2020 by Greg MeckbachYoung male motorists can expect to pay more than women for auto coverage but the decisions your clients make have an even greater bearing on their insurance bill, the co-founder of LowestRates.ca suggests. “The cardinal sin is cancellation for non-payment,”…
Aggregators: friends of brokers or foes?
November 26, 2019 by Greg MeckbachA comparison site wants to partner with brokers in Canada who are looking to generate leads, but the idea sparked a debate at a panel discussion at Canadian Underwriter‘s Top Broker Summit conference Monday. LowestRates.ca CEO Justin Thouin was making…
Key questions that homeowners can’t answer on their insurance application forms
October 2, 2019 by Jason ContantA recent home insurance survey found that most Canadians don’t know key details about their properties, highlighting the importance of pre-fill data for Canadian home insurance application forms. While a dozen data fields in home application forms can typically be…
Where private auto insurance rates are rising the fastest in Canada
July 31, 2018 by Jason ContantOntario’s premium rates are rising the fastest among Canada’s private passenger auto insurance regimes, according to the Q2 2018 Auto Insurance Price Index from LowestRates.ca. A measure of only private passenger auto insurance regimes in Canada, the index from the…
Here’s one way that lower auto insurance rates could increase profits
May 24, 2018 by Greg MeckbachWith new technology-driven auto insurance on the horizon, some motorists will drive less and buy insurance from carriers who target low-mileage vehicles, the founder of a comparison shopping provider suggests. Several Ontario auto insurers will probably launch products similar to…
Brokers succeeding with chatbots, refund portals, text messaging: InsurTechTO panel
November 8, 2017 Greg Meckbach, Associate EditorBrokerages looking to expand should be prepared to invest in technology and think differently, but innovation does not necessarily require a huge investment, speakers suggested Monday during InsurTechTO. “Know what you want to be and how you want to get…