Why Canadian companies need to ‘digitally upskill’ their staff
August 2, 2018 by Jason ContantWhile a majority (85%) of Canadian organizations are investing in emerging technologies, few of them are managing the risks associated with technology, such as cybersecurity threats and lack of talent, a recent PwC Canada report has found. The Full Risk…
Aviva Canada’s plan to decrease its exposure in Ontario auto
August 2, 2018 by David GambrillAviva Canada is diversifying its portfolio of business to avoid exposure to deteriorating conditions in Ontario’s auto insurance market. “When you look at Aviva’s business in Canada, there’s a heavy concentration in Ontario auto,” Aviva Canada president and CEO Colm…
Why carriers should share with their competitors
August 1, 2018 by Greg MeckbachInsurance carriers selling through brokers should share, with competitors, some of the software they make to exchange data with brokers’ computer systems, speakers suggested Wednesday at the Data Exchange (D/X) launch. “We need to communicate more quickly and efficiently with…
Controversy swirls around province’s plan for ridesharing insurance
July 24, 2018 by Jason ContantB.C.’s provincial government will introduce legislation to enable ridesharing in the province by fall of 2019, prompting the industry’s private insurers to say they can provide ridesharing insurance faster and better than the province’s public insurer. B.C.’s Ministry of Transportation…
How blockchain will help brokers bypass traditional insurers
July 12, 2018 by David GambrillVancouver-based Fineqia International Inc. has taken an equity allocation in Black Insurance, a Tallinn, Estonia-based digital insurance startup on the blockchain that has set its sights on creating a direct investor-to-broker relationship, bypassing the need for a traditional insurance company.…
M&A-lite: a new way to transform the business
July 4, 2018 by Greg MeckbachImproving distribution and exploring sophisticated technologies such as artificial intelligence are among the major reasons why insurance CEOs are looking to make deals such as mergers and acquisitions these days. But some of these objectives can be accomplished through other,…
Leading Canadian insurers ‘looking at M&A intensely’
July 3, 2018 by Greg MeckbachBrokers can expect to see a major carrier consolidation deal this year, assuming the prediction of a major mergers and acquisitions (M&A) advisory firm holds true. Of the top 10 Canadian P&C insurers, “it could be expected that a few…
Quebec insurance IT provider V-NEO acquired by German-based tech company
July 3, 2018 by David GambrillGerman-based tech provider GFT Technologies SE (GFT) has acquired V-NEO Inc. (V-NEO), a Quebec-based IT provider to the Canadian property and casualty insurance industry. Founded in 2011, V-NEO has acted as a service partner for the P&C insurance Guidewire platform.…
Building an innovative culture? Here are two pitfalls to avoid…
June 29, 2018 by David GambrillCompanies often make two common blunders when they seek to disrupt themselves. First, some talk about hiring a bunch of “intrapreneurs” – creative geniuses who break all the rules and swim against the corporate tide – and then silo them…
Your clients may be aware of voice-activated tech, but are they buying it?
June 25, 2018 by Jason ContantCanadians’ awareness of voice-controlled, connected home devices such as Google Home or Amazon Echo is growing, but consumer interest in acquiring such a device is not keeping pace, a new study shows. Canada’s Internet Factbook 2018, released on June 20…
“Hey Broker, I need a quote.” Voice technology for brokerages arrives.
June 21, 2018 by Jason ContantAlexa, ask Excalibur Insurance for a car insurance quote. That possibility is just around the corner, as Wawanesa Mutual Insurance Company announced Thursday that it had opened an Innovation Outpost lab in Kitchener, Ont. that will connect customers with brokers…
A new tool for small businesses in the fight against cybercrime
June 14, 2018 by Jason ContantThe federal government has unveiled its National Cyber Security Strategy, with which it will establish a voluntary, recognizable certification intended to enable small- and medium-sized enterprises (SMEs) to demonstrate to both businesses and consumers that they meet a baseline set…