Savings Grace
May 1, 2014 Greg Meckbach, Associate EditorSeveral insurers in Ontario have opted to use telematics to provide auto policyholders in the province with discounts. But some insurance professionals contend that only by also adding surcharges for risky behaviour will drivers be on their best behaviour and carriers be able to take full advantage of the technology.
Coincidental Run-in
May 1, 2014 The CIP Society of the Insurance Institute of CanadaWhat if a broker accidentally overhears a personal conversation on the street that is directly related to a client’s decision to cancel a policy? What possible responses are available to the broker, should he or she decide to employ a rules-based, people-based or situation-based approach?
Power Play
April 1, 2014 Angela Stelmakowich, EditorMergers and acquisitions activity involving brokerages shows few signs of letting up, looking like it will remain hot to warm over the next year or two before cooling off. Transactions may take the form of insurer to insurer, insurer to broker or broker to broker. But how will this coming together play out in terms of broker independence, distribution, breadth of choice for customers and opportunities for brokers?
Use What You Have
February 1, 2014 Patrick J. Durepos, President, Keal technologyA recent ad-hoc survey found that fewer than 1% of brokers work in real time with their insurers and none of them support access to their insureds on a 24-7 basis. Brokers can now operate in real time with their insurer suppliers, but the dedication to take full advantage of the technology is lacking.
So Far, So Close
October 1, 2013 by Canadian UnderwriterWhat is the deal with small business insurance and the direct channel? While personal lines insurance has served as the face of the changing distribution landscape to date, opportunities exist for innovative commercial carriers to leverage the online channel to their competitive advantage.
Getting Tech-Ready
June 1, 2013 Patrick DureposBrokers would be well-advised to pay close attention to a number of industry trends if they hope to thwart market share being lost to direct writers. It is essential to adopt technology solutions that allow brokers to capitalize on their biggest asset: being regarded as trusted advisors.
Moves and Views
June 1, 2013 by Canadian Underwriter1 Economical Insurance announced in May that two vice-presidents, Dianna Fioravanti and Scott Campbell, have left the company to “pursue other endeavours.” Fioravanti was vice president of sales, distribution and underwriting operations, while Campbell was vice president for Ontario. Robert…
Plus ca Change
May 1, 2013 Alister CampbellIn a world of rapid change, it can be tough to keep pace. All industries are learning this – and insurance is no exception. But amidst all this change, are there constants that the insurance industry can seize, leverage and capitalize on?
Skill set
May 1, 2013 Greg Meckbach, Associate EditorThe Ontario College of Trades will soon start enforcing provincial rules requiring certificates of qualification for dozens of skilled occupations, including auto body professionals. One auto carrier suggests the move will help raise the standard of technicians’ skills, but critics contend existing licensing, professional standards and inspection regimes are sufficient and the new enforcement layer will spur higher claims cost.
Get Connected
April 1, 2013 Greg Meckbach, Associate EditorComputers are supposed to save time and effort, but too many brokers still spend too much time re-entering data from their own records into insurance carrier systems. Combine that wasted time with what some analysts see as an industry that lags other sectors in capitalizing on readily available technology to maintain existing – and attract new – business, and resources may be diverted away from what brokers see as fundamental: face-to-face contact.
Snuffed Out
March 1, 2013 Greg Meckbach, Associate EditorThe Ontario government has proposed changing provincial building and fire codes to mandate the installation of fire suppression sprinklers in retirement homes and other institutions housing vulnerable individuals. At least one insurer has voiced its strong support of the draft changes.
Game Changer
January 1, 2013 Angela Stelmakowich, EditorWill recommendations contained in the Ontario Automobile Insurance Anti-Fraud Task Force report be a game changer, addressing what has become an increasingly organized and expensive problem? Or could implementation and timing issues threaten to alter the carefully plotted road map for improving the system?