How are your clients finding you? Follow the voice…
June 10, 2018 by Jason ContantUsing voice search is a key way for brokers to remove friction from the purchase process, Andrew Lo, president and CEO of Kanetix Ltd., said last week at Insurance Canada.ca’s Technology in Action seminar in Toronto. Lo used the example…
Workers comp bars Ontario auto accident victim from suing in bizarre double-crash
June 7, 2018 by Greg MeckbachIn an auto accident claim involving back-to-back crashes, a woman who lost both her legs after being hit by a car is barred from suing the driver because the car that had carried her to the scene of the accident…
Improved traffic management cheapest way to reduce congestion: CAA
June 6, 2018 The Canadian PressTORONTO – The Canadian Automobile Association says there are a number of simple measures that could be taken to reduce congestion on roads across the country. A CAA-commissioned study released last year estimated the country’s worst bottlenecks result in 11.5…
Sharing the Road
June 6, 2018 Emily Atkins, EditorWho will be in charge as autonomous vehicles and human-driven cars operate side by side on our highways?
Patience urged of insurers who don’t see value in their early AI investments
June 5, 2018 by Jason ContantDespite all the hype about artificial intelligence (AI), and the significant investment in it, most global insurers don’t think they are getting value from their investment. In fact, 85 per cent of more than 1,000 global executives polled by McKinsey…
If politicians get rid of territorial ratings, then what?
June 3, 2018 by David GambrillOntario’s political parties have all expressed a desire at some point this year to eliminate territory as a rating factor for insurance premium, but none of the parties have been clear about how they would actually do it, an insurance…
How much ICBC expects to save by using new anti-fraud software
May 31, 2018 by Jason ContantThe Insurance Corporation of British Columbia (ICBC) expects to save $43 million this fiscal year and another $59 million the following fiscal year by using specialized anti-fraud software that the public insurer implemented in 2017. “And that’s on top of…
Devious ways your clients are trying to get better auto rates
May 30, 2018 by Greg MeckbachTerritorial ratings have prompted some Ontario motorists to lie about where they live on their applications in order to get a lower auto insurance rate, so brokers need to caution clients on the importance of telling the truth, a local…
Ugly trend in auto claims so far this year: OSFI data
May 30, 2018 by David GambrillFederally regulated Canadian property and casualty insurers have paid out $535 million more in auto claims during the first quarter of 2018 than they did during the same period last year, according to financial results posted by Canada’s solvency regulator.…
Winter tires cut auto insurance claims frequency: CAA
May 28, 2018 by Greg MeckbachWinter tires reduce the frequency of auto insurance claims, the head of the Canadian Automobile Association’s Ontario auto insurer suggested Wednesday. “Claims are reduced when people have winter tires on their cars, especially driving in climates like we have in…
How promises to eliminate territorial auto rates will divide urban and rural voters
May 24, 2018 by Greg MeckbachWhen Ontarians go to the polls June 7, they will likely vote for a party with at least some members who promise to put an end to territorial ratings in auto insurance. This poses a problem for the property and…
Here’s one way that lower auto insurance rates could increase profits
May 24, 2018 by Greg MeckbachWith new technology-driven auto insurance on the horizon, some motorists will drive less and buy insurance from carriers who target low-mileage vehicles, the founder of a comparison shopping provider suggests. Several Ontario auto insurers will probably launch products similar to…