How insurers and adjusters can capitalize on data insight and partnerships in collision repair
Severe weather – be it wind, rain or hail – will again be a focus in 2014. Will related claims make for a wild ride, leaving adjusters and insurers bruised, but not out, like during a tumultuous 2013? Or will calmer conditions prevail, allowing insurance partners to hang tight and get themselves prepared for the next rough year?
Canadian financial institutions are struggling with innovation, new research by PwC shows. How can these institutions, including insurance companies, change to focus on opportunities, rather than barriers, and ensure that they are not outrun by more innovative players in the years to come?
Fundamentally, water damage is not a peril ideally suited to be insured. That said, with the cost of water damage high and rising, the creation of a sustainable insurance coverage model requires the co-operation of insurers, personal property owners, reinsurers, regulators and governments.
1 Aviva plc has announced Maurice Tulloch [1], current chief executive officer of Aviva Canada, is the new CEO of Aviva U.K. & Ireland General Insurance, subject to regulatory approval. Tulloch joined Aviva in 1992 and was appointed CEO of…
The first notice of loss call a customer makes to their insurance provider after a collision or having vehicle damage “sets the tone” for their overall claims experience, notes a new satisfaction survey from J.D. Power. That first phone call…
Brokers would be well-advised to pay close attention to a number of industry trends if they hope to thwart market share being lost to direct writers. It is essential to adopt technology solutions that allow brokers to capitalize on their biggest asset: being regarded as trusted advisors.
Getting an auto repair estimate right the first time is critically important. Being able to access information to determine if a vehicle is a total loss will save the insurer money in terms of cycle time and rental days, and help get a settlement cheque into the hands of the customer more quickly.
What is the impact of channel selection on customer experience? Although customer use of self-service and emerging channels is on the rise, brokers, agents and customer call centre representatives continue to be primary points of contact for many questions and tasks.
Technology offers potential solutions for property and casualty insurers looking for ways to build profitable growth. But technology also presents challenges, making it critically important that companies pursue the right investments in claims systems and organizations.
Brampton, Ontario’s Dara Banga caught the entrepreneurial bug and launched his own adjusting firm, DSB Claims Solutions, just over a year ago. His main weapon? A singular focus on quality and customer satisfaction.
The latest demographic analysis from the Insurance Institute of Canada offers, by turns, good news and not-so-good news. However, lower-than-anticipated retirements mean recruitment and retention will need to increase substantially in future.