Segment
Brokers
Insurance fraud costs Canadian insurers more than $540 million annually
February 7, 2011 by Canadian UnderwriterOrganized insurance crime costs insurers and policyholders more than $540 million a year in Canada, according to a Lloyds report. “Insurance companies around the world are reporting a higher number of bogus claims from cash-strapped motorists, homeowners and other con…
A.M. Best assigns Everest a ‘superior’ financial strength rating
February 1, 2011 by Canadian UnderwriterA.M. Best Co. has assigned a financial strength rating of A+ (Superior) to Everest Insurance Company of Canada (EvCan). The outlook is stable, according to A.M. Best. Everest is licensed to write property, automobile, surety, liability and other classes of…
MarketPlace (February 01, 2011)
February 1, 2011 by Canadian UnderwriterCanadian Market Canadian catastrophes in 1998, 2005, 2009 and 2010 cost industry $3.8 billion Canadian catastrophes in 1998, 2005, 2009 and 2010 affected 850,000 insured properties and collectively cost the industry $3.8 billion, according to data from PCS-Canada. These figures…
The Reality of ‘Real Time’
February 1, 2011 Brenda Rose, Firstbrook Cassie and Anderson, and Sheldon Wasylenko, Rayner AgenciesThe insurance industry often uses the phrase “real time” in discussions about technology, but the term has a different connotation for brokers, who must communicate with multiple carrier systems.
Mobility’s Legacy
February 1, 2011 Peter Symons, OARBIC Inc.Can legacy systems accommodate the rush to develop and provide applications – or ‘Apps’ – that run on iPhone, iPad, Blackberry and/or Android devices? Yes they can.
Special e-Delivery
February 1, 2011 Martin Ouellet, Applied Systems Canada Inc.Services are now available providing legally admissible proof that your email has been received and your clients’ information is protected.
Transparent Billing
February 1, 2011 Ingrid Himmelman, FirstOnSite RestorationNew, proprietary technology has enabled transparent billing for work undertaken on large, complex commercial losses.
The Future of Gateways
February 1, 2011 Craig HarrisPortal technology has come a long way since its introduction in the early 21st Century. But while portals may now be faster and more user-friendly, the proliferation of them is causing headaches for brokers: it’s disruptive to deal with various portals as part of their workflow. Will there ever be a better gateway between brokers and carriers? And will this happen before consumer interaction is added into the mix?
Data Migration
February 1, 2011 Debbie Olsen, vice president, iter8 Inc.A risk management approach to data conversion can provide useful insights into both planning and resourcing conversion tasks.
Full-Serve, Self-Serve
February 1, 2011 Scott Andrew, president, CEO, Custom Software Solutions Inc.Over the past few years, people have been talking about the need for brokers to embrace the “new” social media. Facebook, Twitter and LinkedIn are rapidly growing services, and we will find a need for them in our industry. But…
Putting the ‘Flow’ Back Into Workflow
February 1, 2011 Pat Durepos, president, Keal Technology, and Peter Silk, senior vice president, business processes,The unique complexities of commercial insurance can make daily workflows incredibly challenging, highlighting the importance of broker management system (BMS) and insurance company integrations.
Should I Stay or Should I Go Now?
February 1, 2011 Shannon Major, marketing and communications manager, Keal TechnologyA BMS touches all departments of the brokerage. Thus, if a change to another system is being contemplated, many questions should be considered.