Segment
Brokers
Brokers ‘will be inundated with information from different insurers’ about telematics, ORBiT speaker warns
May 30, 2014 Greg Meckbach, Associate EditorThe use of telematics, to set auto insurance rates based on driving behaviour, presents both an opportunity and a risk for brokers, speakers suggested at a recent technology conference for brokers. “One of the things that you folks have that…
Commoditization of usage based insurance offerings taking place
May 30, 2014 Angela Stelmakowich, EditorThe current regulatory environment is fuelling commoditization of usage-based insurance (UBI) offerings, something that could be at odds with how open consumers are to exploring different options, Colin Wright, principal of Corner 2 Consulting, suggested during a presentation Thursday. “Because…
How Google got states to legalize driverless cars
May 30, 2014 Justin Pritchard, THE ASSOCIATED PRESSMOUNTAIN VIEW, Calif. – About four years ago, the Google team trying to develop cars driven by computers – not people – became convinced that sooner than later, the technology would be ready for the masses. There was one big…
Alberta regulator’s decision on UBI coming by end of year
May 29, 2014 Harmeet Singh, Online EditorThe Office of the Superintendent of Insurance in Alberta will make its decision on the approval of usage based auto insurance in that province by the end of this year, but is stressing that privacy must be top of mind…
Combined ratio up 3.8 points, direct written premiums up 6.6% for Desjardins
May 29, 2014 by Canadian UnderwriterDesjardins General Insurance Group Inc. released Thursday some of its financial results for the three months ending March 31, reporting a 3.8-point increase in its combined ratio and a 6% year-over-year increase in direct written premiums, when compared to the…
Telematics for teens? Look to parents who want safe drivers
May 29, 2014 Harmeet Singh, Online EditorYoung drivers might be most open to usage based insurance because of their often high premiums, but connecting with parents can be the key when marketing telematics programs. “The parents do need the premium relief too – they’re usually paying…
8 vehicles earn insurance industry’s top rating for collision warning and braking systems
May 29, 2014 Dee-Ann Durbin, THE ASSOCIATED PRESSDETROIT – The 2014 Chevrolet Impala was the only non-luxury car to earn the highest safety rating in new tests of high-tech crash prevention systems. The Insurance Institute for Highway Safety tested cars equipped with collision warning and automatic braking…
Lots of rain prolongs Manitoba’s flood season; puts pressure on waterways
May 29, 2014 THE CANADIAN PRESSWINNIPEG – An unusually large amount of rain has prolonged Manitoba’s flood season, pushing lakes and rivers around the province to record levels. Emergency Measures Minister Steve Ashton said some regions received 200 per cent more precipitation than normal in…
Awareness of UBI programs low among Canadians, but many willing to use telematics for lower premiums
May 28, 2014 by Canadian UnderwriterA majority of Canadians are optimistic about usage-based auto insurance if it could lower their rates, but awareness of telematics programs remains quite low, according to a new survey from Kanetix. “Consistent with all the other surveys so far, 18%…
Half of polled UBI program customers report becoming better drivers: Desjardins
May 28, 2014 by Canadian UnderwriterHalf of the respondents to a poll marking the one-year anniversary of Desjardins General Insurance Group’s (DGIG) launch of its usage-based insurance (UBI) programs said they are safer drivers and almost seven in 10 said they now pay more attention…
ORBiT speakers tout advantages of voice and electronic signatures
May 28, 2014 Greg Meckbach, Associate EditorUsing electronic and voice signatures instead of having customers put pen to paper have allowed some brokers to avoid errors and omissions exposures and cut out steps in their workflow, though some insurance transactions still require signed paper, speakers suggested…
CRTC warns it can’t respond to every complaint when anti spam law takes effect
May 28, 2014 Michael Oliveira - THE CANADIAN PRESSTORONTO – A new law designed to help unclog Canadians’ email inboxes takes effect July 1, but the CRTC is warning that it won’t be able to respond to every complaint it receives. The new federal anti-spam legislation requires that…