Insurers 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…
The 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…
Brokers 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,…
Fast, 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…
The 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…
Nearly 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 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…
A $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…
To get the best out of your collaboration efforts, get outside of your comfort zone. The best companies understand the value of collaboration, said Sven Roehl, co-founder of Cookhouse Lab, an insurtech innovation firm. But they also understand they need…
If you ain’t first, you’re last. That’s the mantra Ricky Bobby lives by in the movie Talladega Nights as a race car driver. But when it comes to innovation, if you ain’t first, you’re probably better off. It can be…
Expect to write less auto coverage with the rise of autonomous vehicles in 10 years’ time, and more coverage related to climate change, property lines, and emerging risks. Thanks to the progress expected of autonomous vehicles, auto insurance will plateau,…
Consumers are experiencing innovation when it comes to buying cars, clothes, music and more. So when it comes to insurance, they’re expecting the same types of experiences. But they’re not entirely getting it. Ontario consumers can buy car insurance online.…