Canadian Underwriter

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News BrokersInsuranceMergers and Aqcuisitions

How smaller brokerages can survive in a mega-merger environment

August 16, 2019 by Jason Contant

As mergers and acquisitions ramp up in the Canadian P&C space, smaller brokerages will need to go for scale or niche to survive, brokers say. “As of late, with Wawanesa buying Western Financial, NFP buying a half-dozen really big brokers,

News BrokersInsurance

What makes for a profitable brokerage in Canada?

August 16, 2019 by Jason Contant

When it comes to brokerage profitability, size matters. Common characteristics of the most profitable Canadian brokerages are laid out in a recent report from P&C advisory and consulting firm Smythe Advisory. The Property & Casualty Insurance Brokerage Report 2019 analyzes

News Brokers

Considering a career change? Look before you leap, say industry experts

August 15, 2019 by Adam Malik

The grass continues to appear greener on the other side for Canadian workers, but disgruntled employees are not always ready to make the jump, a new survey has found. Before brokers venture off towards greener pastures, they should keep a

News BrokersInsuranceTechnology

Is the entertainment tech in vehicles cancelling out the safety tech?

August 14, 2019 by Adam Malik

Brokers looking to give their customers any positive news on rates potentially coming down shouldn’t get their hopes up. That’s because industry experts believe there’s little indication that we’ll see fewer collisions on roads despite all the safety technology found

News BrokersInsuranceMergers and Aqcuisitions

What’s driving brokerage M&A in Canada?

August 13, 2019 by Jason Contant

What does the current market look like for merger and acquisition (M&A) activity in the Canadian P&C brokerage space? “The current market is primarily being driven by underwriters and private equity (PE) investors,” wrote Mike Berris, partner and practice group

News BrokersInsuranceLegislation / RegulationTechnology

Digital pink cards get green light in third province

August 13, 2019 by Adam Malik

A third Canadian province has been given the go-ahead for electronic proof of insurance for drivers. The Alberta government gave the OK for drivers to show their pink cards in a digital format through their smartphone this week, following the

News Insurance

The first step in determining whether AI could pay off

August 12, 2019 by Greg Meckbach

Thinking of investing in artificial intelligence so you can automate tasks that are wasting workers’ time? Many brokerages have processes that could be improved through machine learning, suggested Christopher Wynder, director of product marketing for capture and original equipment manufacturing

News BrokersInsuranceProfessional Development

How brokers can overcome barriers to cross-selling

August 9, 2019 by Jason Contant

What are some of the biggest barriers facing brokers looking to cross-sell? Access to market, high rates and underwriting practices (such as asking 30-40 questions on a renter’s policy) are the main culprits, said Jeff Roy, president and CEO of

News BrokersInsuranceMarkets / Coverages

Another casualty of the hardening market

August 8, 2019 by Jason Contant

As the market continues to harden, one brokerage in Ontario is seeing reduced appetite from carriers to write tenant insurance. “There’s more demand for renters insurance and a lot of our markets don’t seem to want to write renters insurance,”

News Insurance

How this brokerage plans to use AI for renewal process

August 7, 2019 by Greg Meckbach

An online-only brokerage is working on an artificial intelligence tool that would alert staff if a client whose situation has changed could now get a better deal on their insurance. Magreth, Alta.-based surex.com Ltd. recently developed a prototype of an

News InsuranceLegislation / Regulation

Which province will allow digital pink cards next?

August 6, 2019 by Adam Malik

If George Hodgson’s crystal ball is working as well as he hopes, it may not be too long until Alberta drivers will be able to use digital insurance pink cards. The chief executive officer of the Insurance Brokers Association of

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Large brokerage acquires online comparison platform

August 6, 2019 by Jason Contant

Large brokerage Lussier Dale Parizeau (LDP) is continuing its goal of becoming a “one-stop shop” for all of its clients needs with the acquisition of a brokerage that offers an online insurance comparison platform. LDP president and chairman of the