Why insurance overseer won’t regulate MGAs or fintechs just yet
April 22, 2021 by Greg MeckbachOntario’s insurance regulator has no plans to regulate fintechs or managing general agents in the near term. “We sort of feel like we have enough on our plates,” said Tim Bzowey, executive vice president of auto/insurance products for the Financial…
Why insurance apps need to be extremely simple to learn
March 9, 2021 by Greg MeckbachFor the P&C industry, one of the biggest challenges of going digital is the relatively few times a client interacts with an insurer provider, a fintech webinar speaker suggested Tuesday. When the financial industry started offering electronic cheque deposit, “it…
So you’re going digital. How much speed do you need?
November 3, 2020 by David GambrillWhile the global COVID pandemic may have sharpened the insurance industry’s focus on providing digital solutions to customers quickly, the speed at which the industry can move remains limited by traditional barriers such as a carrier’s organizational culture, regulation, and…
How you can cut down time spent searching underwriting manuals
October 5, 2020 by Greg MeckbachSome brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting…
Signs that an insurtech isn’t worth your consideration
September 1, 2020 by Adam MalikA good insurtech will let its insurance partner take its product for a test drive and easily provide referrals, insurtech leaders said during a recent webinar. If an insurance carrier or broker is dealing with an insurtech company that isn’t…
A common mistake P&C organizations make when working with insurtechs
August 28, 2020 by Adam MalikA common blunder the insurance industry makes when working with an insurtech is mistakenly expecting the partnership to be a one-size-fits-all for every issue they’re facing, according to insurtech leaders. In fact, experts said during a recent webinar, you are…
Insurtechs urge P&C industry to keep foot on the gas with innovation
August 17, 2020 by Adam MalikInnovation in the insurance industry has shown to be critical over the last number of months, and insurtechs are urging brokers and carriers not to lose the momentum they’ve established. Insurtechs called for closer collaboration between the property and casualty…
How to make tenant insurance applications more user-friendly
June 10, 2020 by Greg MeckbachIf you think it is easy for clients to apply for tenant insurance, you might want to consider how much trivia those tenants actually know about the property they occupy. “Every insurance application has questions that aren’t user-friendly and they…
How this insurtech is encouraging innovation during COVID-19
March 30, 2020 by Greg MeckbachSlice Labs Inc., an insurtech with locations in Toronto and Ottawa, is adapting to the pandemic by helping insurers develop new products from people’s homes. “We are actively engaged in getting new products into the market – going full speed…
What are Canadian insurtechs doing with their new venture capital funding?
March 3, 2020 by Greg MeckbachA sharp rise in venture capital funding to Canadian fintechs has spawned investments in technology intended to improve property and casualty claims management, the insurance leader with PwC Canada suggests. “There has been a broad-stroke move to have significantly more…
What brokers should consider when looking at insurtech offerings
January 22, 2020 by Greg MeckbachBrokers looking for a relatively cheap way of upping their game online should check some of the hundreds of insurtechs on the market, but it’s important to know what those insurtechs do and do not provide. If you are a…
An MGA can land in “big trouble” if it fails to do this
January 17, 2020 by Greg MeckbachTechnology could make it easier to start up new managing general agents – which is good news for some and bad news for others, panelists suggested during a recent webinar. “If you [as an MGA] are sitting there thinking, ‘Oh…