Canadian Underwriter

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Canadian brokerages leading the charge on digital strategy adoption

February 4, 2022 by Alyssa DiSabatino

Canadian brokers have a leg up on their counterparts in the United States and the U.K. when it comes to digital transformation, a recent survey finds. Seventy-three percent of Canadian brokerages say they have a digital strategy in place, and

News Insurance

Is the commercial insurance market starting to soften?

November 16, 2021 by Jason Contant

Premium rate changes in commercial lines in Canada have experienced a slight downturn quarter-over-quarter, indicating that the commercial hard market may be easing up a bit. “While we are still experiencing a hard market, the Q3 index shows a slight

News Insurance

Average personal auto premiums drop in Q3 2021; personal property up

October 21, 2021 Phil Porado

Personal auto premium average dropped 2.7% in 2021’s third quarter compared with the same period a year ago but rose 9.4% when compared to second quarter 2021, according to the latest Applied Rating Index, which reports Canada-wide personal auto and

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News Insurance

What is needed as more P&C brokerages move into employee benefits

September 3, 2021 by Jason Contant

With more and more property and casualty insurance brokerages moving into the employee benefits (EB) space, there is a need to have an integrated technology solution, tech vendor Applied Systems said recently. “We know our P&C customers are moving further

News Insurance

How technology is addressing ‘broken offline processes’ and broker pain points

August 25, 2021 by Jason Contant

Creating a “digital round trip” for all players in the insurance ecosystem – from broker to technology vendor to consumer – has really been catalyzed by the COVID-19 pandemic and the move to remote working, the CEO of tech vendor

News Insurance

All major commercial lines seeing average premium renewal increases, report says

August 11, 2021 by Jason Contant

Canada’s hard market in commercial P&C is showing no signs of letting up, with all major lines seeing average premium renewal rate increases in the second quarter of 2021. “Overall, the magnitude of rate increases across all segments included in

News Insurance

Brokerages accelerating digital transformation in face of COVID-19

August 4, 2021 Canadian Underwriter Staff

COVID-19 has “forced” companies in Canada and the U.S. to accelerate digital transformation efforts, and property and casualty brokerages are no exception. According to Ernst & Young (EY), this sudden accelerated digitization has been “forced” on Canadian companies “in ways

News Insurance

Personal auto renewal rates continue downward trend, but homeowners’ rates up: Applied

July 30, 2021 by Jason Contant

Average personal auto premium renewal rates in Canada continued their downward trend in the second quarter of 2021, while personal property (homeowners) renewal rates remained up over the same period, according to Applied Systems’ latest premium rate index. In Q2

News Insurance

How commercial premium renewal rates are trending in Canada

April 30, 2021 by Jason Contant

Canadian commercial line renewal rates increased at a slower pace across all major lines in Q1 2021 compared to one year ago, according to the latest commercial premium rate index from tech vendor Applied Systems. Overall, the magnitude of rate

News Insurance

COVID’s effect on Canadian auto and property rates

April 22, 2021 by Jason Contant

Endorsements to auto policies as a result of changing driving habits from COVID-19 are resulting in average premium rate renewal decreases across most of the country, according to Applied Systems’ latest rating index report. Personal property rates, on the other

News Insurance

Canadian auto and property insurance rates headed in opposite directions

February 1, 2021 by Jason Contant

Average personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both

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What adopted technology will stick around after the pandemic?

May 6, 2020 by Adam Malik

Now that many insurance professionals have been successful working from home, plenty of technologies they are using now are expected to stick around even after the COVID-19 pandemic subsides, according to a number of P&C experts. “The tools we’re using