Insurtech seeks to bring the ‘Uber-Netflix-Spotify-Amazon’ experience to commercial clients
March 11, 2019 by Greg MeckbachAn insurtech with offices in Ontario is looking for commercial and personal lines carriers who want to sell insurance the way Spotify sells music. “We are talking to several Canadian insurers who have an interest in launching new products” Philippe…
How to sell commercial coverage to small businesses
March 8, 2019 by Jason ContantBrokers looking to sell commercial coverage to small businesses need to keep it simple, fast and client-specific, industry professionals told Canadian Underwriter Thursday. Sometimes when buzzwords like artificial intelligence, blockchain and chatbots dominate the conversation, the cart comes before the…
Burns & Wilcox Canada acquires specialty MGA
March 7, 2019 by Jason ContantH.W. Kaufman Group and Burns & Wilcox Canada announced Thursday they have acquired Toronto-based TRU Transportation Risk Underwriters Ltd., a managing general agency with unique transportation expertise. TRU will become part of B&W Canada, a flagship organization of Kaufman and…
How Aviva Canada’s profitability fared in 2018
March 7, 2019 by David GambrillEditor’s Note: This version of the article includes a correction showing that operating profit was flat at £46 million (approximately Cdn$82 million in 2018, and Cdn$78 million in 2017). A previous version incorrectly showed the operating profit of 46 million…
The insurance implications of digital healthcare
March 5, 2019 by Jason ContantAs the digital healthcare market continues to evolve, the insurance industry in Canada should consider gaps or exclusions in current policies and the need for a bespoke option. Digital healthcare will include a focus on two areas: Telemedicine – remote…
Why less is better for digital transformation
March 1, 2019 by Jason ContantCompanies looking to undergo a digital transformation should follow the expression “more is not always better” when it comes to selecting system integrators and vendors, a speaker said Wednesday at the Insurance-Canada.ca Technology Conference in Toronto. During the transformation process,…
This technology can help attract talent
February 28, 2019 by Greg MeckbachUsing technology like artificial intelligence can help insurers attract the right people and keep them engaged, suggests the head of a major Canadian insurer. “It’s a tough talent market right now across the leading insurance markets in the world. Canada…
How modernization of payment systems in Canada could increase cyber claims
February 26, 2019 by Jason ContantWhile theft of funds remains a relatively minor source of Canadian cyber claims for one specialist insurer, it is expected to grow as further modernization of payment systems takes place in the country. CFC Underwriting released Friday its 2018 cyber…
The latest way cyber-criminals are attacking your clients
February 25, 2019 by Jason ContantCyber criminals are adapting their methods by using ransomware in targeted extortions, often with more severe and costly results than indiscriminate attacks. Targeted extortion is when cyber criminals set their sights on a particular, vulnerable organization and look to extort…
Next step for $2-billion building collapse lawsuit against Loblaws
February 21, 2019 by Greg MeckbachA $2-billion class-action lawsuit against Canada’s largest food retailer could reach the Supreme Court of Canada. The bodily injury lawsuit against Loblaw Companies Limited was filed in 2015 in Ontario by victims of a 2013 commercial building collapse in Bangladesh.…
What it will take for another interest rate hike
February 21, 2019 Andy Blatchford THE CANADIAN PRESSOTTAWA – The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor…
How branding affected these insurers’ consumer scores
February 19, 2019 by Greg MeckbachAn insurer’s popularity among consumers can differ by brand alone, a recent J.D. Power survey indicates. “There are differences when it comes to products, when it comes to distribution, when it comes to your marketing messaging,” Tom Super, director of…