What’s the most successful way of seeking new P&C talent?
November 24, 2021 by Jason ContantPersonal referrals were the most successful method for seeking new talent in the property and casualty insurance industry, speakers agreed during an Insurance Institute of Ontario webinar Tuesday. An informal poll of attendees to the webinar asked which recruitment channels…
Why change in P&C is a difficult proposition: The innovator’s dilemma
April 14, 2021 by Adam MalikInsurers are between a rock and a hard place when it comes to changing the way they do business, because of the risk of harming broker relationships, investment costs, and, at the end of the day, the current system works,…
Sky’s still the limit for Canadian P&C industry consolidation: broker exec
April 6, 2021 by Adam MalikCanadian property and casualty insurers have seen many a deal take place over the years — and it would be no surprise to see more to come, says a broker executive. During the latest edition of the Insurance Institute of…
Explain how AI leads to underwriting decisions, report urges
March 31, 2021 by Greg MeckbachInsurers who use big data and artificial intelligence to make underwriting decisions must be prepared to explain to clients and regulators exactly how they arrived at those decisions, an Insurance Institute of Canada researcher suggests. “A challenge in the application…
Fewer brokers in 10 years, insurance exec predicts
March 24, 2021 by Adam MalikBrokers may not disappear over the next 10 years but their ranks will definitely thin out, an insurance brokerage executive predicted during a recent webinar. Commoditization of the insurance industry will cut out transactional procedures that many brokers find themselves…
How to handle three made-in-COVID client situations
March 8, 2021 by Adam MalikThe COVID-19 pandemic has created a series of unique risk exposures for Canadian policyholders, and industry experts gave a crash course on how they would handle these newly common scenarios. Three made-in-COVID situations presented themselves to clients over the past…
How a shrinking office footprint can grow your company
February 26, 2021 by Adam MalikYou can grow your business by shrinking the office footprint, as long as you do it correctly, the CEO of Travelers Canada says. Several P&C insurance company executives are openly discussing how much office space they might actually need once…
The critical piece that made remote work successful for Travelers
February 12, 2021 by Adam MalikProperty and casualty insurance industry employers need to work with staff to set clear expectations when it comes to setting up a working-from-home policy, says an insurer executive. Done correctly, P&C employers can see a boost in productivity and employee…
The tough calls broker, insurers will be making this year
January 25, 2021 by Adam MalikPressure on insurers to provide sustainable results, brokers expanding their service offerings and the growing gap between big and small are just some of the trends the P&C insurance industry will face this year that will give leaders plenty to…
Why brokers may face E&O exposure due to COVID-19
January 20, 2021 by Adam MalikOne prominent industry observer is “quite concerned” that brokers may be facing errors and omissions risk exposure due to COVID-19, especially if court decisions go a certain way. For Phil Cook, chairman of Omega Insurance Holdings, the risk is that…
What underwriters can do to help brokers during a hard market
December 9, 2020 by Adam MalikThey say timing is everything, and that is particularly true of brokers working with underwriters. The earlier underwriters can tell brokers about the market challenges they are facing, what they deem to be an important part of a submission, and…
What insurers want brokers to stop doing
November 30, 2020 by Adam MalikBrokers who take a broad, scattershot approach to getting submissions approved by underwriters are only setting themselves — and their clients — up for failure and disappointment, an insurance executive warned during a recent webinar. For a better chance at…