Is 2019 the year of hyper-personalized, omnichannel insurance in Canada?
December 12, 2018 by Jason ContantMeeting consumers where they already are by moving towards an omnichannel strategy is one of the trends that will reshape the Canadian insurance industry in 2019, a market intelligence agency predicts. The application programming interface (API) mindset and integrated omnichannel…
What could stop insurers from being ‘uberized’
December 7, 2018 by Greg MeckbachAmazon and Google may disrupt the insurance industry some day, but don’t expect either of these firms to start underwriting, suggests the head of one of Canada’s largest property and casualty insurers. “The Googles and Amazons of this world might…
Why smaller is better for MGAs looking to innovate
December 3, 2018 by Jason ContantSometimes even simple technological changes can help managing general agencies (MGAs) become more innovative, a software provider said last week at Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “What everybody should be thinking about critically is where is my company today…
How future technology will help brokers, not replace them
November 27, 2018 by David GambrillIn a future characterized by “the trillion-sensor economy,” data will become the foundation of broker innovation, an insurtech innovator said Monday at the 2018 Top Broker Summit, hosted by Canadian Underwriter in Toronto. To prepare, brokers need to build strategies…
Ontario government promises auto rate review
November 18, 2018 by Greg MeckbachThe Ontario government announced Thursday it plans to “review how auto insurance rates are regulated” and confirmed the government will still run the Motor Vehicle Accident Claims Fund. A review of rate regulation will be done “jointly with the Financial…
CAA Insurance parent agrees to buy Echelon Insurance
November 9, 2018 by Greg MeckbachCAA Club Group has agreed to buy non-standard auto insurer Echelon Insurance for $175 million, the companies said Friday. The deal will allow CAA Insurance to reach new markets and customers, CAA Club Group president Jay Woo wrote in an…
Insurance without the carrier coming soon
November 7, 2018 by Greg MeckbachA blockchain-based business insurance model that could see non-regulated investors as the capital providers is coming sooner that you think, although it may not necessarily arrive in Canada in the short term, predicts an executive who has led two major…
Two-day hackathon seeks tech solutions to distracted driving, pedestrian safety
November 2, 2018 by Jason ContantDeveloping technology-based solutions to tackle distracted driving, pedestrian safety and house-to-house communication are the goals of an upcoming hackathon hosted by Canada’s second largest insurer and a technology start-up accelerator. Aviva Canada and OneEleven will host the Safer Neighbourhoods Hackathon…
Why this insurer is ‘shrinking’ its D&O liability business
October 26, 2018 by Greg MeckbachLawsuits arising from corporate mergers and acquisitions and “creative theories of liability” are reducing Chubb Limited’s appetite to insure directors’ and officers’ liability. Since 2016, there has been an increase in the frequency of lawsuits against directors and officers, said…
Intact-backed insurtech cracks the Fintech100 list
October 23, 2018 by Greg MeckbachA French robo-broker and an auto insurer backed by Canada’s largest property and casualty carrier are among the insurtechs “driving disruption” in financial services, a report released Tuesday suggests. KPMG announced Tuesday the fifth annual Fintech100, a report that highlights…
Canadian Broker Network appoints next chairman
October 11, 2018 David GambrillCanadian Broker Network, Canada’s leading network of independent insurance brokers, is pleased to announce the appointment of Andrew Kemp, co-president of CapriCMW Insurance Services Ltd., as the next CBN chairman. “We welcome Andrew Kemp as chairman whose industry experience and…
Five pillars of brokerage digital transformation
October 9, 2018 by Jason ContantMore Canadian brokerages are moving towards a fully digital experience as consumer expectations are driving demand for faster, more efficient service, a broker management system (BMS) provider said Monday. “More brokers are moving to a completely connected experience from internal…