Segment
Brokers
Job opening: Lead this global Top 3 brokerage’s Canadian operation
October 14, 2021 by Greg MeckbachIf you think you have what it takes to lead Willis Towers Watson’s Canadian corporate risk and brokerage business, the job is open and it’s not too late to apply. “We’re currently interviewing,” said Ofelia Isabel, managing director, Toronto market…
How to prevent auto insurance fraud
October 12, 2021 Brooke SmithThere are honest drivers on the roads. In fact, a 2021 survey by ValuePenguin indicates that 78% of consumers say they’ve never lied to their auto insurers. However, 8% have “misinformed” their insurers about the drivers in their households, and…
Why open banking could ‘terrify’ brokers
October 8, 2021 by Greg MeckbachIf open banking comes to Canada, this could make it easier for fintechs and banks to offer embedded insurance and it will be hard to stop firms from using open banking data for underwriting purposes, a technology executive predicts. Open…
The latest acquisitions from Westland and Hub
October 7, 2021 by Jason ContantLarge brokerages Westland Insurance Group Ltd. and Hub International Limited have both announced recent mergers and acquisitions activity. On Tuesday, Surrey, B.C.-headquartered Westland said it had acquired personal and commercial lines brokerage Insurance Unlimited in Mississauga, Ont. The following day,…
How wedding insurance will adapt to a post-pandemic world
October 6, 2021 Brooke SmithWedding revenues dropped by almost 40% drop in Ontario last year, according to HelloSafe.ca, due largely to the COVID-19 pandemic. Wedding insurance, as a result, was also affected. Pre-pandemic, Front Row Insurance Brokers was receiving about 200 orders a month…
Mass personalization can enhance customer experience: PwC Canada
October 5, 2021 Canadian Underwriter StaffAccelerated digitization continues to drive strong M&A activity in P&C, with brokerages that prioritize the customer in their digitization strategies more likely to succeed. “Understanding the customer and how to change the customer experience will be the key differentiator for…
Trusted Advisor survey calls for more proactive broker contact
October 5, 2021 Jeff BucksteinBrokers need to be more proactive in reaching out to their business and consumer clients, according to the Canadian Underwriter Trusted Advisor 2021 survey. Only 36% of business respondents — and a considerably smaller proportion of consumers (26%) — said…
Collectivfide acquires Brockville, Ontario brokerage
October 4, 2021 by Greg MeckbachCollectivfide Insurance Group Inc. announced Oct. 1 it has acquired a majority stake in Brockville, Ont.-based brokerage W.C. Burgess Insurance Services Ltd. Formed in 2019, Cambridge, Ont.-based Collectivfide’s shareholders represent mutual insurance companies in Ontario and across Canada. Originally founded…
Digitization is ‘much more than going paperless,’ panel says
September 30, 2021 Canadian Underwriter StaffGoing digital doesn’t simply mean going paperless — it’s about the end-to-end customer experience, panellists participating in a Canadian Underwriter webinar advised. “When we talk about going paperless, it’s much broader and more robust than simply not mailing out paper…
Buy or build: What surveyed Canadian businesses prefer
September 29, 2021 by Jason ContantSmall- and medium-sized enterprises (SME) surveyed by KPMG Canada have identified organic growth as a top strategy, followed by digital technology investments. Of the 505 respondents to KPMG’s Business Outlook Poll, nearly three-quarters (71%) identified organic growth as a top…
Brokers must explain what’s included in homeowners’ policies
September 28, 2021 Brooke SmithHome is where the heart is. But if your clients aren’t passionate about their home insurance policies, it’s your job to help them understand their coverages. While one part of a homeowner’s policy covers the building itself and the belongings…
Strong M&A activity driven by massive push for scale, digitization: PwC Canada
September 27, 2021 Canadian Underwriter StaffThe race to achieve scale, connect digitally with customers and realize synergies are driving continued strong M&A activity in P&C insurance, a recent PricewaterhouseCoopers (PwC) Canada report suggests. Valuations remain at “historic highs” for insurance brokers and MGAs, bringing new…