Segment
MGAs
How some brokerages and MGAs attract talent
December 13, 2018 by Jason ContantWhat’s the best way of attracting qualified talent to your brokerage? Some brokerages and managing general agencies (MGAs) have cited looking outside the insurance industry or recruiting from local community colleges. McConville Omni Insurance Brokers, a personal and commercial lines…
Why smaller is better for MGAs looking to innovate
December 3, 2018 by Jason ContantSometimes even simple technological changes can help managing general agencies (MGAs) become more innovative, a software provider said last week at Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “What everybody should be thinking about critically is where is my company today…
An insurer’s take on the multi-solution era of data exchange
December 3, 2018 by David GambrillAn old adage states that a broker must be able to communicate with clients in the way in which the clients wish to communicate – be it through online portals, telephone, email, Facebook, LinkedIn, etc. Similarly, in a multi-solution era…
Forget about blockchain and AI. Get your website up first.
November 30, 2018 by Jason ContantThinking about dabbling in blockchain or artificial intelligence (AI) at your managing general agency (MGA)? It’s probably best to focus on taking smaller steps first. “There’s a whole set of first steps that are being overlooked,” said Jeff McCann, CEO…
How important is non-insurance talent for MGAs?
November 29, 2018 by Jason ContantLooking outside the insurance industry appears to be a tried-and-true approach to recruiting talent, executives of managing general agents said Tuesday at the Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “We’ve had success actually looking for people with skills, rather than…
Will the entire insurance industry soon move to APIs?
November 29, 2018 by Jason ContantCanada’s P&C industry will eventually move to using API (application programming interface) in its entirety, predicts the CEO of a technology company that helps brokers automate their workflows. “I think you’re literally looking at the monolithic system; there’s going to…
Why some brokers may shy away from using an MGA
November 28, 2018 by Jason ContantThe risk of a greater errors and omissions (E&O) exposure is a major reason why some brokers choose not to place business with a managing general agent (MGA), speakers said Tuesday at Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “We don’t…
How consolidation can “regenerate” MGAs
November 27, 2018 by David GambrillConsolidation could potentially wind up regenerating Canada’s broker channel generally and managing general agents (MGA) specifically, a senior executive told delegates attending the 2018 MGA Symposium in Toronto on Tuesday. Organized by insurance-canada.ca, the event featured a panel of MGA…
Exclusive partnership will extend MGA’s cyber offerings
November 21, 2018 by Jason ContantManaging general agent Burns & Wilcox has announced an exclusive partnership with a cybersecurity company to pair its specialty insurance products with data breach monitoring and notification services. The partnership with London, UK-based BreachAware, which specializes in data breach research…
Paid IFRS 17: Filling the Gaps in Data & Technology Systems
November 21, 2018 BDOIFRS 17 is an accounting standard that will result in a complete overhaul of an insurer’s financial statements, though finance alone cannot work through this complex change in isolation. Considering the significance of the impact across the organization, IFRS 17…
Managing general agent launches three training programs
October 31, 2018 by Jason ContantManaging general agent APRIL Canada has launched APRIL University with three training programs and two more in the development stage. Essentials of pleasure craft insurance (1.5 RIBO hours), Ontario rentals & Airbnb market (1 RIBO hour) and insurance for general…
Covering Small Business Cyber Exposure
October 18, 2018 David GambrillConsidering the potentially devastating effect of a cyber attack on a small business in Canada, it’s surprising to see a recent study showing that more than a third of Canadian firms do not report carrying cyber insurance coverage. “For me,…