Segment
Brokers
IBAC announces Elite Force-Best Practices Producer Academy will be offered in September
June 18, 2012 by Canadian UnderwriterInsurance Brokers Association of Canada (IBAC) and its member associations have announced that the Elite Force-Best Practices Producer Academy will be offered in Toronto starting this September. Now in its fourth year, the sales training program for producers is an…
Global brokerages benefit from favourable conditions: Moody’s
June 15, 2012 by Canadian UnderwriterRising insurance premiums and a focus on specialty risk advisory services will spur growth for the world’s largest insurance brokerages, according to a recent analysis by Moody’s Investors Services. The outlook for the global insurance brokerage sector “is stable, reflecting…
Economical launches new brand name at AGM, re-iterates it does not prefer one form of demutualization over another
June 15, 2012 by Canadian UnderwriterEconomical Insurance launched a refreshed brand at its annual general meeting on June 15, featuring an uncomplicated, cleaner, three-dot logo and a new tagline — “good to know.” “We’re good to know for an individual, family or business seeking financial…
Aviva Canada introduces portfolio transfer solution
June 14, 2012 by Canadian UnderwriterBrokers transferring business to Aviva Canada can now use a software platform from iter8 designed to reduce time and effort. The communic8 service will allow a broker management system to identify policies for upload, which are then transported to Aviva…
Insurance Council of B.C. suspends agents
June 13, 2012 by Canadian UnderwriterThe Insurance Council of B.C. recently released disciplinary findings against a broker who used insurance premiums from clients to pay business and personal expenses and another agent who accessed confidential files at the Insurance Corporation of British Columbia (ICBC) to…
Applied Systems announces Epic 7 broker management system will come to Canada in 2013 Q1
June 12, 2012 by Canadian UnderwriterInsurance software company Applied Systems has announced it will release Epic 7, the upcoming version of the insurance industry’s agency and brokerage management system, in 2013 Q1. “The release of Epic 7 marks the first time the Epic system will…
Economical launches Straight Through Processing
June 7, 2012 by Canadian UnderwriterThe Economical Insurance Group has announced its “Straight Through Processing,” allowing brokers to begin and issue new business or make policy changes in real-time using Power Broker, Applied Systems TAM and and SigXP broker management systems. “These enhancements bring us…
Consumers indicate fast claims processing is most valued when dealing with insurers
June 6, 2012 by Canadian UnderwriterCanadian consumers identified fast claims processing as the most-valued feature when dealing with insurance companies, note new findings from InsurEye Inc. To get a fix on what consumers value most in their insurance providers, the study analyzes 600-plus consumer reviews…
Desjardins to focus on Ontario, Montreal following positive 2012 Q1 results
June 5, 2012 by Canadian UnderwriterDesjardins General Insurance Group’s loss ratio of 63.6% in 2012 Q1 was 2.3% lower than the first three months of 2011, largely the result of oft-cited favourable weather conditions and continued improvement in Ontario’s auto insurance market. “With the Ontario…
Applied Systems acquires Compu-Quote
June 5, 2012 by Canadian UnderwriterBroker management software provider Applied Systems Inc. has acquired Compu-Quote Inc., a Canadian provider of comparative insurance rating solutions. Applied Systems announced the sale on June 5 after closing the deal on June 1. Terms of the agreement were not…
Economical would prefer to demutualize through an IPO, if forthcoming regulations allow it
June 4, 2012 by Canadian UnderwriterEconomical has voiced its preference for an initial public offering (IPO) as part of its intention to demutualize, but no final decision will be made absent clear regulations. Currently, Canada does not have regulations allowing property and casualty mutual insurers…
All for One, One for All
June 2, 2012 Ken Metcalfe, Director, I.T., Portage Mutual InsuranceSingle Sign On promises to eliminate the need for staff to remember multiple passwords and ID names to access multiple applications and network resources.