How online policy administration could put brokers at risk
October 18, 2019 by Greg MeckbachWhen clients want to make policy changes online, brokers have a vested interest in being in the loop, suggests a consultant who advises insurance companies. More customers these days are expecting their insurance providers to give them the same kind…
Why risk managers need to go beyond heat maps
August 15, 2019 by Greg MeckbachRisk managers using colour-coded heat maps may be pressed by their bosses for more specific information on their exposures, a new risk management expert at KPMG Canada suggests. Heat maps are a way for risk managers to report risks to…
What buyers look for in a brokerage
January 16, 2019 by Greg MeckbachInformation technology is one driving force behind mergers and acquisitions involving property and casualty insurance brokerages. Acquiring new products, talent and technology are among the reasons behind M&A activity in P&C insurance, said Georges Pigeon, a Montreal-based partner with KPMG’s…
How not to deal with a ransomware attack
December 19, 2018 by Greg MeckbachYour client should never have to negotiate with a cyber criminal even if that client has suffered a ransomware attack, cyber security experts advise. Ransomware is a type of computer malware that prevents clients from either using their computers or…
How ‘exponential era technologies’ bedevil insurers
December 13, 2018 by Greg MeckbachHow you deal with the always-connected consumer will determine whether an insurtech will eat your lunch, speakers suggested at KPMG Canada’s annual insurance conference. “Digital is oxygen these days. If you are not digitizing your products and your service, you…
What could drive reinsurers away from some markets
December 10, 2018 by Greg MeckbachReinsurance is extremely important but could get too expensive in certain areas, industry leaders said at a recent event. Some insurance companies today are “dialing up their reinsurance protection – property and cat risk in particular in the United States,”…
Why Ozzy Osbourne is a factor for actuaries to consider
December 10, 2018 by Greg MeckbachProperly segmenting data within an “ocean” of information can make the difference between champ and chump, speakers suggested at KPMG’s recent insurance conference. “I think the biggest change that most people are grappling with is the amount of data that…
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…
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…
The industry that’s shopping for cyber insurance
October 11, 2018 by Greg MeckbachBrokers looking for new large cyber accounts might want to knock on doors of companies who look after other people’s money. More than half (55%) of Canadian asset managers surveyed said they intend to purchase insurance to protect themselves against…
More commercial brokerage consolidation could follow Marsh-JLT combo
September 19, 2018 by Greg MeckbachA US$6-billion merger between Marsh & McLennan Companies Inc. and Jardine Lloyd Thompson Group Plc could form the world’s largest commercial brokerage, and more mergers and acquisitions among commercial brokerages will likely to follow, a Canadian M&A expert suggests. Marsh…
Former KPMG Canada insurance leader Parkinson elected to mortgage insurer board
June 12, 2018 by Greg MeckbachNeil Parkinson, former national leader of KPMG Canada’s insurance industry practice, has been elected to the board of directors of Genworth MI Canada Inc., Genworth announced last Wednesday. Investors holding 99.61% of Genworth’s shares voted for Parkinson, Genworth reported in…