Regulation: A threat or benefit to innovation?
February 8, 2022 by Jason ContantWhile there is a perception that regulation is a threat to innovation in the Canadian financial services space, that’s not the case, say executives from a fintech hub. “[For] any start-up here in Canada, I think there’s a bit of…
Why don’t Ontario auto insurance clients have more choice?
February 2, 2022 by Jason ContantOntario auto insurance consumers would love the option to purchase a scaled-down auto insurance policy tailored to their individual needs and budgets, a speaker said at an industry event last week hosted by the Financial Services Regulatory Authority of Ontario…
FSRA’s case for principles-based regulation
February 1, 2022 by Jason ContantPrinciples-based regulation is the right system for private sector innovation, a speaker told an industry event last week. “If you imagine trying to deal with a highly innovative sector based on a very rules-based rigid, detailed system, I think it…
When humans team up with machines, P&C innovation wins
May 4, 2021 by David GambrillDebates about whether humans or computers are at the centre of innovative insurance products are a red herring — the best way to build an insurance product is an integrated approach using the best of what humans and machines have…
IBAO’s stance on electronic termination of coverage
November 24, 2020 by Greg MeckbachInsurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto…
Where do the most innovative ideas come from? Not your CEO
August 29, 2019 by Adam MalikThe next time you’re brainstorming the next big idea, don’t extend a meeting invite to your executives. Instead, make sure as many of your frontline staff members as possible are there. The thing about great ideas, said Aly Dhalla, co-founder…
What open banking means for brokers
June 21, 2019 by Greg MeckbachBrokers should see open banking as more of an opportunity than a threat, a partner with EY Canada suggests. Open banking is a system in which consumers could consent to sharing their banking transaction data with other financial services providers,…
Paid Leverage tech and deliver seamless CX
June 20, 2019 Insurance NexusFast, simple and personalized. Those are the demands being placed on Canadian carriers as they strive to meet customer expectations in a digital experience-driven world. It’s no longer enough to set your yardstick by how well (or badly) the competition…
Where does insurance fit in the technology puzzle?
June 18, 2019 by Adam MalikThe insurance industry needs to figure out how to leverage technology and ride the waves of change that other industries are seeing. From there, issues like finding talent will become easier, a panel recently told young brokers. Problem is, insurance…
Canadians don’t think about AI – here’s why brokers should
June 14, 2019 by Adam MalikNearly six out of 10 Canadian employees believe artificial intelligence will have no impact on their jobs, according to a recent survey. Brokers would be wise to not side with the majority. As AI becomes more refined, it will be…
Aon appoints president of commercial risk and health solutions in Canada
June 4, 2019 by Jason ContantAon plc has appointed Stéphane Lespérance as president of commercial risk and health solutions in Canada. In his new role, Lespérance will be responsible for the day-to-day leadership of the commercial risk and health solution teams in Canada, Aon said…
Regulator greenlights Echelon Insurance acquisition
May 31, 2019 by Greg MeckbachA $166-million deal aimed at getting CAA Insurance some new non-standard auto customers is a done deal. CAA Club Group’s acquisition of Echelon Insurance got final regulatory approval, Echelon Financial Holdings Inc. announced Thursday. The deal officially closed on May…