A huge divide exists between consumer expectations of their digital service experience and what is being delivered, with three-quarters of recently polled consumers in Australia reporting they will stop trying a digital app or service within a minute if it…
As consumer expectations change, insurance carriers are moving towards fully digitizing more processes, including payment gateway technology, research and advisory firm Novarica said recently. In a new executive brief titled Payment Gateways in Insurance, Boston, Mass.-based Novarica provided an overview…
WestJet reported on Friday that it has “become aware that some WestJet Rewards member profile data has been disclosed online by an unauthorized third party.” None of the data contained credit card or banking information, Calgary-based WestJet noted in a…
The lack of policy coverage understanding by consumers represents a major threat to home insurers’ reputations. Educating consumers now, in advance of damaging perils like flooding, could
encourage policyholder understanding and discourage dissatisfaction with insurers should such an event occur.
Seasonal businesses need the same risk coverage as year-round operations and busy small business owners should ensure they are appropriately protected as the summer season kicks into high gear, advises TruShield Insurance. Pointing out that small business owners are starved…
U.S.-based TechCanary has enhanced its insurance platform for the Canadian market to allow brokers and insurers access to additional Canada-specific capabilities around p&c lines of business meant to help them to deliver more responsive and predictive offerings to customers. TechCanary…
The premiums charged by British Columbia’s government-run monopoly provider of basic auto insurance are “not high enough” to cover claims, the system is not sustainable and the cost of the average minor bodily injury claim has risen well beyond the…
More than six in 10 Canadians (62%) oppose or somewhat oppose banning ridesharing services such as Uber, according to recent polling conducted by Nanos Research. When asked their level of support for banning services like Uber, slightly more than three…
Customer wants, needs and demands are guiding players in Canada’s fintech space toward developing simpler, more transparent and customer-centric financial services products, with insurance expected to see a big increase in uptake in future, suggests new research released Tuesday by…
Willis Towers Watson (WTW) has launched a new cyber work diagnostic tool designed to help bolster organizational readiness by focusing on talent management, emerging skills and roles, and defining the requirements of cyber work. The idea is to combat an…
Implementing blockchain technology could produce hefty cost savings in the billions of dollars annually for the financial services market, suggests a new report released Friday by Minnesota-based BIS Research. Characterizing blockchain as a revolutionary development, its application “could lead to…
A severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.…