In today’s data-rich environment, property and casualty insurers have an unprecedented opportunity to move beyond a one-size-fits-all approach, and tailor newer, more profitable offerings based on each customer’s usage and needs. The key to future profits may lie buried in the data that insurers already have.
1 Swiss Re Canada welcomed its new president and chief executive officer, Veronica Scotti [1a], effective April 1. Scotti most recently served as Swiss Re’s client executive, based in Armonk, New York, and will now work out of Toronto, the reinsurer…
Canada witnessed record vehicle sales in 2013, only to be topped by sales in 2014. Still, concern over the availability of service bays and skilled workers is also on the rise. Canadian vehicle fleet and technological advancements that increase the life expectancy of vehicles, however, are expected to contribute to the growth of the aftermarket.
1 Brian Parsons [1], former national practice leader of mining at Marsh Canada Limited, is now chief executive officer of Willis Canada. Parsons, who has spent 22 years with Willis Canada, will report to Willis North America CEO Todd Jones,…
The Internet of Things is a bridge between the old economy of bricks, mortar and physical objects and the new economy of mobile devices, data networks and analytic engines. It is estimated that billions of “things” will be linked to the Internet within the next five years through sensors located in cars, homes and businesses. How will this connectivity and data affect insurance companies, brokers and consumers?
When it comes to auto physical damage losses, the two are not mutually exclusive.
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The risk landscape is changing, demanding that stakeholders adopt a wider view of what constitutes risk and how different risks can work together.
It looks as though driverless vehicles will be part of the not-so-distant future. That said, issues such as liability and the role of insurance companies will need to be clearly defined before these vehicles hit the road.
Canada’s automotive business landscape is undergoing transformative change. A uniquely Canadian approach to how insurance claims and vehicle repair economies work together on a day-to-day basis is critically important to support a thriving and sustainable industry.
What is the missing element in Canada’s auto insurance industry? It could be that advertising holds the key in an expanding industry where insurers are increasingly having to fight to gain market share.
A total of 377 repairers, insurers and suppliers representing the insurance claims and collision repair industries attended the Canadian Collision Industry Forum (CCIF) meeting on February 1 in Toronto. Leanne Jefferies, director of collision programs for AIA Canada, welcomed the…