How your brokerage might benefit from partnering with an innovation hub
February 11, 2019 by Jason ContantA brokerage in Nova Scotia has partnered with an innovation hub in Atlantic Canada to “up its game” in the digital space. AA Munro Insurance, which has more than 20 locations in Nova Scotia, has partnered with Volta Labs. This…
Common misconceptions about business interruption insurance
February 8, 2019 by Jason ContantOne strong challenge to the broker channel, according to brokers, is consumer self-education about their insurance needs and options. Nowhere is this more evident than in the field of business interruption (BI) insurance, a very specialized coverage that is rife…
Executive challenges brokers regarding earthquake take-up rates in Quebec
February 8, 2019 by Jason ContantSparks flew during a recent conference discussion about mortgage impairment and earthquake loss, when a senior reinsurance company executive drew a link between the practices of Quebec brokers and the low take-up rates of earthquake insurance in the province. Philipp…
Why brokers hail the D/X Initiative as “the start of the revolution”
February 7, 2019 by David GambrillA “watershed moment” of industry cooperation could lead in April to what brokers are heralding as the most significant technology breakthrough in broker-carrier connectivity in decades. Representatives of every broker association across the country met in Toronto on Jan. 29,…
Aviva rolls out automated claim notification at collision reporting centres
February 5, 2019 by Greg MeckbachMotorists insured by Aviva Canada will no longer have to make their own first notice of loss (FNOL) to the carrier if they report the accident to a collision reporting centre. This is because Aviva Canada is rolling out an…
Broker lands in hot water after BI coverage miscue
February 5, 2019 by David GambrillA Manitoba broker landed in hot water after filling in for a vacationing colleague whose commercial client wound up without business interruption coverage. Broker John C. McDonald was fined $250 for his role in the coverage mix-up. When McDonald’s work…
Why being a broker is the best job ever
January 31, 2019 by Jason ContantThe feeling that their opinions are heard and often implemented is just one of the reasons brokers report being satisfied with their choice of career. “I truly believe that I am a valued professional advisor,” Ryan McKenna, commercial and personal…
Customer retention advice for brokers from Wawanesa
January 30, 2019 by Greg MeckbachEvery time a client submits a claim to their carrier, you as the broker need to follow up with a phone call, suggests Carol Jardine, president of the Canadian property and casualty operations of Wawanesa Mutual Insurance Company. “I would…
How you can scale your expertise through social media
January 25, 2019 by Jason ContantBrokers may not want to invest heavily in social media, but a lot of opportunity exists at little to no cost. “It’s always a question of how do you scale your expertise; by using social media, you can just reach…
Trial required to confirm insured’s cash payment to broker, court finds
January 23, 2019 by David GambrillA dispute between an auto insurance claimant and a carrier over whether or not the claimant paid her broker in cash to update an auto policy is a genuine matter for trial, an Ontario court has ruled. Marie-Therese Dakane brought…
Would you buy insurance from your own website?
January 22, 2019 by Jason ContantBefore jumping right into buying a piece of technology, brokers should first think about mapping out the customer journey, suggests the CEO of a company that helps brokers with automation. “Diving right into the software isn’t always the best because…
How much of a cost decrease will get your clients to switch carriers?
January 18, 2019 by Jason ContantMore than half (56%) of polled Canadians would switch insurance providers for a savings of $150 or more, according to a new survey from Kanetix.ca, an online comparison site for insurance rates. Almost the same percentage (57%) of the 812…