Canadian Underwriter

News


News InsuranceTechnology

How to convert the online leads you just purchased

August 30, 2019 by Greg Meckbach

If you want to pursue online leads for home and auto insurance, be prepared to adopt a business model that emphasizes speed and playing the percentages, an executive with an online comparison website says. What your sales team needs to…

News InsuranceLegislation / Regulation

What the industry can do to get out of the hard market cycle

August 30, 2019 by Adam Malik

Although regulation is one significant factor in the current hardening market conditions, that doesn’t mean the insurance industry should cry “woe is me” and wait for things to get better on their own. Instead, a pro-active approach is needed, experts…

News InsuranceTechnology

Brokers, why build tech on your own when you can partner with an insurtech?

August 30, 2019 by Greg Meckbach

Brokers looking to up their game in digital innovation should scan the market for potential technology partners, Symposium West attendees were told last week. “Who can you partner with – in an adjacent industry or a solution provider – that…

News InsuranceLegal

First conviction in Canada for driving a canoe while impaired causing death

August 30, 2019 by David Gambrill

For the first time in Canada, someone has been convicted of impaired driving charges causing death while paddling a canoe. “This is a unique case in that it is the first time [that] charges have been prosecuted respecting the operation…

News Climate ChangeInsuranceRisk

A new real-time model for predicting urban flood resilience

August 29, 2019 by Jason Contant

A newly-proposed flood model can provide a real-time prediction of urban flooding caused by heavy rainfall in a changing climate, but it may not be of particular interest to insurers. “The model can be used not only for real-time flooding…

News BrokersInsuranceMGAsTechnology

Want to do it all online? How this MGA’s portal pulls it off

August 29, 2019 by Greg Meckbach

An Ottawa-based managing general agent may be expanding its use of portal technology that lets brokers enter data from applications and bind commercial policies electronically. Encon Group Inc. pretty much did away with paper files, Encon president David Cook said…

News InsuranceProducts

How Spotify’s business model describes the future of insurance

August 29, 2019 by Jason Contant

Forget everything you know about insurance. That’s what the insurance product of the future will look like, says Tim Attia, CEO and co-founder of New York City-based Slice Labs. “Insurance will have to be like Spotify,” Attia said, referring to…

News BrokersInsuranceTechnology

Where do the most innovative ideas come from? Not your CEO

August 29, 2019 by Adam Malik

The next time you’re brainstorming the next big idea, don’t extend a meeting invite to your executives. Instead, make sure as many of your frontline staff members as possible are there. The thing about great ideas, said Aly Dhalla, co-founder…

News CatastrophesClaimsClaims CanadaInsurance

Flash flooding risk in Maritimes as Storm Erin arrives

August 29, 2019 by THE CANADIAN PRESS

HALIFAX – Heavy rain was reported Thursday in parts of the Maritimes as Erin, now a post-tropical weather system, advanced toward the region. Environment Canada issued rainfall warnings for southeastern New Brunswick, parts of western and northern Nova Scotia and…

News ClaimsInsurance

How Oklahoma opioid ruling could affect Canadian drug liability claims

August 28, 2019 by Laura Kane  THE CANADIAN PRESS

VANCOUVER – An Oklahoma court ruling that found Johnson & Johnson helped fuel the state’s opioid crisis and ordered the company to pay US$572 million could persuade drug manufacturers to settle a similar lawsuit in British Columbia, legal experts say.…

News InsuranceReinsurance

Sign of the times: Why this bank bailed out of P&C reinsurance

August 28, 2019 by David Gambrill

Buffeted by severe weather claims, the Bank of Montreal has decided to exit the property and casualty reinsurance side of the business, BMO announced during a conference call Tuesday. “In Q4 of last year, we said we were reviewing ways…

News InsuranceTechnology

Watch out for these ‘nefarious’ ways of eating brokers’ lunch

August 28, 2019 by Greg Meckbach

Brokers could be in for a nasty surprise if the concept of bundling auto insurance with vehicle lease or purchases catches on in Canada, a Symposium West speaker warned last week. An auto manufacturer is “not a traditional competitor” in…