DISTRIBUTION CHANNELS
December 1, 1999 By Lowell ConnMarketing, distribution and technology are no longer separate components of the insurance business, delegates were told at the Institute for International Research’s recently held Distribution & Marketing in Property & Casualty Insurance conference. Multi-distribution channels including call centers and the…
NOT ALL SPORT UNPROFITABLE
December 1, 1999 by Canadian UnderwriterNot all of the specialty sports lines are unprofitable it appears. General liability coverage has been good business for Canadian managing general underwriters K&K Insurance, who write $50 to $70 million in premiums annually safeguarding teams against litigation surrounding spectator…
Thinking Big From Small
December 1, 1999 Sean van Zyl, EditorMost people in the industry think he has lost his marbles, launching a new property and casualty insurance company in Canada from the ground up in what is widely seen as an overcrowded and cutthroat market. To say that Brian…
Brokerlink and Vector hit skids
December 1, 1999 by Canadian UnderwriterThe proposed merger between listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. has hit some skids, both companies confess while asserting the merger will still carry on as planned. According to Jon Ouellette, Brokerlink’s vice president of operations,…
THE LOGIC BEHIND SELLING
December 1, 1999 by Canadian UnderwriterThe majority of brokers that have sold their business, or are contemplating the prospect of doing so, have reacted for one or more of the following reasons: Rate of attrition and threats from dwindling volumes; Desire to be a part…
The future of distribution: Keeping our Options Open
December 1, 1999 Doug Davis of Davis Consulting Inc.With increasing attention being brought to bear on the cost of distribution and how to improve competitiveness, insurers and independent brokers alike are repositioning. This, however, is having a noticeable impact on the industry’s “traditional relationships,” leaving many within the industry unsure to the “what”, “where” and “how” of the future of the independent broker profession.
The quest for EFFICIENCY ENHANCEMENT
December 1, 1999 Jacinta Whyte, vice president of the personal insurance divisionThe traditional property and casualty (p&c) insurance industry is moving toward multi-channel distribution. The shift may not be as brisk as some industry observers believe is necessary to blunt the competitive challenge posed by the banks and others, even some traditional broker companies. Still, it is difficult to argue with the success that Canadian brokers are having in retaining customers in the face of an expanded range of distribution options already available.
B.C.’s collision repair industry under the Spotlight
December 1, 1999 Brian Harper, editor of Bodyshop MagazineThe recently held Insurance Corporation of British Columbia’s (ICBC) auto repair symposium drew focus on the forces of change sweeping through the industry, in particular the close relationship that exists between property and casualty insurers and shop operators. Similar to the cost-efficiency driven rationalization occurring across other provinces, B.C.’s own market should be preparing for change if the existing independent players plan on surviving into the new millennium, the speakers warn.
Cutting to the fat
December 1, 1999 Sean van Zyl, EditorFor those who felt the market conditions of 1999 were worth a good cry over a beer, the year ahead is likely to be a very sober occasion, analysts warn. Results for property and casualty insurers for the final quarter…
Scrambling for loose business
December 1, 1999 Lowell ConnSports insurance is a specialty-lines oddity. It is unprofitable business marred by rising loss payouts not accurately balanced by the premiums generated. It is a competitive market where premium prices should be two or three times their current rate, insiders…
Kingsway hosts Analysts & Investors Day
December 1, 1999 by Canadian UnderwriterPrices will firm up and standard insurers will tighten underwriting rules, Kingsway Financial Services Inc. president Bill Star says, addressing media and stakeholders at the company’s first annual Analyst & Investor Day. “The result could see more business bypassing standard…
COUNTDOWN to a new era
December 1, 1999 Lowell Conn and Sean van ZylThe 1990s will likely go down as the most momentous period in the modern history of the property and casualty insurance industry, a senior executive with experience dating back to the post WWII era recently stated. From “riches to rags,”…