Executive Outlook 2021: Raymond Chun, TD Insurance

Raymond Chun, President, CEO, TD Insurance

The world around us continues to change and we’re all feeling the ongoing impact of COVID-19. Throughout the pandemic, we have demonstrated that we can adapt quickly to execute with speed and deliver for our customers — even in the face of a global health crisis.

We’re incredibly proud of the relief measures we have delivered to support our customers across Canada when they needed us the most. Payment deferrals and premium adjustments helped alleviate some of the financial burden many have felt. To keep customers, colleagues and communities safe, we adapted quickly to a new virtual environment while all 20 of our Auto Centres remained open so our frontline colleagues could continue to do the essential work needed to support our customers.

The stay-at-home economy of 2020 has also shown us that customer demand for direct online insurance purchasing is no longer a convenience but a necessity. As we move on from the initial pandemic response, TD Insurance’s long-term strategy includes our ability to adapt to an evolving and uncertain economic environment while adjusting our approach to meet shifting customer behaviour.

The insurance industry has demonstrated its adaptability and flexibility in the face of change — historically and throughout the COVID-19 pandemic. Digitizing insurance is a clear opportunity for the industry. We must keep up with customers’ digital expectations, take advantage of technological advances that drive self-serve capabilities, and bring the customer experience into the 21st century.

It’s important for us to stay ahead of the pace of change. We continue to make strategic investments in our digital self-serve capabilities, artificial intelligence, and use of advanced analytics to build creative products and new services that deliver on our customer-centric philosophy. These innovations will help us create personalized experiences and forge deeper connections that our customers have come to expect, while delivering on the unmet demand for simple and fast digital insurance services.