Segment
Brokers
Applied ITV with iClarify reduced home valuation process to two minutes
September 10, 2013 by Canadian UnderwriterOpta Information Intelligence has announced that its iClarify services, providing replacement cost values, have been integrated directly into the Applied CQ Rating Services system under the Applied ITV brand. The latest version of iClarify provides replacement cost values while automatically…
Best Briefing details pros and cons of whole account broker deals
September 5, 2013 by Canadian UnderwriterA.M. Best Co. released Wednesday a briefing on whole account broker deals in Britain, suggesting such deals could present a risk of non-disclosure and lower margins but they also have the potential to reduce the cost of acquiring new business…
Aviva Canada launches new coverage for high-value possessions
September 5, 2013 by Canadian UnderwriterAviva Canada has launched new coverage designed for high-value homes, vehicles and possessions. After a successful debut in Ontario over the spring, the new Ovation program is now available in British Columbia and will come to the remaining provinces in…
LexisNexis launches smartphone app for usage-based insurance
September 4, 2013 by Canadian UnderwriterLexisNexis Risk Solutions has launched a new mobile app that would allow smartphones to capture and transmit driving data for potential usage-based auto insurance programs. The white-label LexisNexis Telematics Mobile app, available for Android and Apple smartphones, is an attempt to…
Majority of U.S. drivers open to UBI programs, especially if premiums guaranteed not to increase
September 4, 2013 by Canadian UnderwriterDrivers in the United States are open to the idea of buying usage-based auto insurance, especially if they could be guaranteed their premiums wouldn’t increase, according to a new poll from Towers Watson. Of the U.S. drivers included in the…
Economical brings B.C. personal insurance business under subsidiary
September 3, 2013 by Canadian UnderwriterEconomical Insurance is integrating the management of all its personal lines business in British Columbia under Family Insurance Solutions, its wholly-owned subsidiary, in an effort to simplify business for brokers in the province. Beginning Sept. 24, the distribution, underwriting and…
Face-to-face interaction boosts satisfaction among small business insurance customers
September 3, 2013 by Canadian UnderwriterSatisfaction among small business policyholders is significantly higher when a broker or agent provides more guidance, the latest survey from J.D. Power in the U.S. suggests. Overall customer satisfaction among small business insurance customers was 777 points on a 1,000-point…
Opportunity Knocks
September 1, 2013 Angela Stelmakowich, EditorKen Myers, president-elect of Insurance Brokers Association of Canada, sees plenty of opportunity: in technology, in perpetuation and in self-belief.
Side Deals
September 1, 2013 The CIP Society and the Insurance Institute of CanadaA broker is thinking of hiring a client in the construction business to work for him or her personally on a home renovation project. Doing business with friends and clients is not forbidden, but what are some of the ethical and business-practice considerations?
All in the Delivery
September 1, 2013 Karl Greenlaw, Founder and CEO, BrovadaAs more customers buy insurance through aggregators, price will become a key differentiator. But brokers who are good at delivering insurance will be in the best position to compete.
Moves and Views
September 1, 2013 by Canadian Underwriter1 EGI Financial Holdings Inc. announced in August it has reached an agreement to sell the company’s non-standard automobile insurance operations in the United States. It has entered into a stock purchase agreement with Michigan-based White Pine Insurance Company, in…
CAA Ontario applies to regulator for auto insurance rate reduction
August 29, 2013 by Canadian UnderwriterCAA Insurance Company (Ontario) has applied for a rate reduction with the province’s regulator, less than a week after the government announced its intention to hit an average rate reduction of 15% within two years. “CAA fully supports this new…