Segment
Brokers
The key for brokers to stand out from the competition
June 11, 2018 by Greg MeckbachFor property and casualty insurance brokers, providing “exceptional customer service” is at least as important as the insurance products themselves, suggests one underwriter. “There are a lot of people out there who sell insurance,” Jenny Hallahan, manager of underwriting for…
From days to minutes: New tech overhauls quote and bind process
June 10, 2018 by Jason ContantThe launch of the new broker technology Vyne will eliminate some of the “inefficient steps” that brokers have to take between quoting and binding, potentially reducing the quote and bind process from days or weeks to just minutes, the company…
Broker fined after backdated coverage confusion
June 7, 2018 by Jason ContantA veteran Manitoba broker who had no binding authority was fined $2,500 by the provincial regulator for confirming a client’s coverage before he had even sent an application to the insurer, apparently on the assumption that the insurer would backdate…
Economical rolls out Vyne for brokers in select areas
June 4, 2018 by Jason ContantEconomical Insurance launched its new broker technology, Vyne, in New Brunswick and Prince Edward Island Monday. For use in personal lines and individually rated commercial auto (IRCA), Vyne is a Guidewire-based computer system aimed at streamlining workflows for brokers. The…
Here’s a way small brokerages can afford AI
June 4, 2018 by Jason ContantBudget may not be a big concern for larger companies looking to incorporate artificial intelligence (AI) into their operations, but is AI cost-prohibitive for small, local brokerages? “I don’t think you need a massive budget to do some of this…
Bespoke Insurance
June 1, 2018 David Gambrill, Editor-in-ChiefCustomized commercial policies are vital for increasing your standing as a trusted advisor. Here are the hottest areas for going tailor-made.
Major agreement toward resolving broker-carrier data exchange issues
May 29, 2018 by Jason ContantKey players in Canada’s P&C industry have reached an agreement to pursue an application programming interface (API) hub solution, called the BrokerFlow solution, to solve the current data connectivity gap between insurers and brokers. The “solution phase” is set to…
How demand in Canada factored into merger of two Lloyd’s brokers
May 29, 2018 by Jason ContantAn increased demand from Canadian brokers for more “problem-solving” insurance solutions, such as specialist cyber coverage, is a factor behind the recent merger between Endeavour Insurance Services and SSL Insurance Group. Lloyd’s broker and delegated authority specialist Endeavour recently announced…
Paid Part 3 of DGA study reveals how to achieve your ideal insurance career
May 29, 2018 DGA CareersWhat direction do you see your insurance career taking over the next five years? Are you on a path to the C-suite or other leadership role? Alternatively, do you have a more entrepreneurial vision for either starting a company or…
Ontario brokers asked to educate election candidates
May 28, 2018 by Greg MeckbachTo prepare for the June 7 Ontario election, brokers should be prepared to explain very basic concepts about the property and casualty insurance industry to political candidates, a former head of the provincial brokers’ association suggests. Many election candidates “don’t…
New Ontario auto insurance product targets infrequent drivers
May 23, 2018 by Greg MeckbachOntario brokers will have a new auto insurance option for their auto customers this July with MyPace, a product intended for vehicles driven fewer than 9,000 kilometres per year, Canadian Automobile Association (CAA) officials said Wednesday. MyPace, which measures distance…
Broker training underway for new distance-based auto insurance
May 23, 2018 by Greg MeckbachBrokers selling auto insurance written by the CAA Insurance are now getting trained on a new product targeting low-mileage drivers. All 41 of CAA Insurance’s broker partners “are being trained on all aspects” of MyPace, CAA Insurance president Matthew Turack…