How to go direct-to-consumers without ticking off your brokers
December 14, 2018 by David GambrillAre you an insurance company looking to build up your direct-to-consumer capabilities without alienating the broker channel, on whom you rely for your core business? Here are three tips for you, as outlined by bloggers Ned Calder, Shahriar Parvarandeh and…
How this ‘gap’ in privacy law affects tow-truck operators
December 13, 2018 by Greg MeckbachIf your client’s vehicle is towed in Manitoba, the auto insurer will not normally tell the towing company who owns the vehicle. “There is a gap in the [Manitoba privacy] legislation or, at a minimum, the administrative practices of the…
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 small business owners think of private auto insurance in B.C.
December 11, 2018 by Jason ContantAs debate rages on in British Columbia over public versus private ridesharing insurance options, the Canadian Federation of Independent Business (CFIB) has released new survey results that show nearly three of four small business owners support private auto insurance. CFIB…
What is Canada’s most stolen vehicle?
December 11, 2018 by Jason ContantFord F-Series trucks once again topped the list of Canada’s most frequently stolen vehicles, according to the Insurance Bureau of Canada (IBC). IBC released Tuesday its annual list of most stolen vehicles in Canada, compiled using data from members across…
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,”…
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 A.M. Best gave the global reinsurance segment a ‘stable’ outlook
December 6, 2018 by David GambrillCORRECTION: An earlier version of this story incorrectly stated that A.M. Best had changed its outlook for the global reinsurance sector from ‘Stable’ to ‘Negative.’ In fact, the outlook changed to ‘Stable’ from ‘Negative.’ Canadian Underwriter apologizes for the error.…
How many Canadians actually understand water damage coverage?
December 6, 2018 by Jason ContantOnly about half of Canadians polled by Canada’s third largest insurer understand what kind of water damage is covered by their insurance policy, providing an opportunity for brokers to educate clients on the coverage. “For insurance brokers and agents, understanding…
B.C. opposition bill looks to private insurers to fast-track ride-sharing
December 5, 2018 by Jason ContantThe Opposition BC Liberals have introduced a bill they say would bring ride-sharing to the province within three months and allow for private insurance coverage, re-igniting debate over public versus private coverage in British Columbia. The minority NDP government introduced…
What is the best way to address mobility issues for independent adjusters?
December 4, 2018 by Jason ContantThere needs to be a hybrid system of self-regulation in concert with regulatory discipline to handle interprovincial mobility issues for independent adjusters, says the president and CEO of an independent adjusting firm. “We need a hybrid system of self-regulation in…
An insurer’s take on the multi-solution era of data exchange
December 3, 2018 by David GambrillAn old adage states that a broker must be able to communicate with clients in the way in which the clients wish to communicate – be it through online portals, telephone, email, Facebook, LinkedIn, etc. Similarly, in a multi-solution era…