Operations
Considering the potentially devastating effect of a cyber attack on a small business in Canada, it’s surprising to see a recent study showing that more than a third of Canadian firms do not report carrying cyber insurance coverage. “For me, when I look at a commercial client that’s not carrying cyber insurance, that’s kind of […]
October 18, 2018
4 min read
Brokers need to prepare scripts in case their staff get a flood of phone calls from clients asking how they plan to work without mail service, the Centre for Study of Insurance Operations advises. “Mail service may be interrupted indefinitely,” CSIO stated Wednesday. The Canadian Union of Postal Workers warned Tuesday that rotating strikes could […]
By Greg Meckbach | October 17, 2018
2 min read
The federal government will probably consider legislating Canada Post employees back to work if they go on strike or are locked out, a labour lawyer told Canadian Underwriter Monday. “I think it’s likely that the Liberals will consider” back-to-work legislation, Andrew Monkhouse, managing partner of Monkhouse Law, said in an interview. Canada Post officials are […]
By Greg Meckbach | October 15, 2018
Brokers scoping out new leads for selling cyber should consider this new opportunity in the professional class: real estate agents. Real estate agents move large sums of money when houses are selling. There is also typically a time cluster when these house purchases close, such as lunch time on a Friday, said Andy Holmes, chief […]
By Jason Contant | October 15, 2018
Plamen Petkov, vice president of Ontario and business resources at the Canadian Federation of Independent Business, which represents 110,000 small businesses across Canada, provides insight to help brokers forge successful business partnerships with small business owners. DO: Establish very clearly the value you provide as a broker. “The value could be translated in different ways […]
October 14, 2018
Small business clients want to spend less time filling out insurance application forms and more time getting advice from their brokers, an insurance technology expert says. “Unlike personal insurance, where there is more propensity to go direct, small business owners still value the conversation with a broker,” Daniel Shum, partner and national insurance sector leader […]
By Greg Meckbach | October 14, 2018
3 min read
Brokers in Canada have a technology platform available that allows them to customize different insurance coverages, or offer next-day service, through a self-serve app. The app provides a base quote for a customer. The broker can then use sliders to adjust variables in coverage. For example, if the client wants to spend $3,000, the broker […]
By Jason Contant | October 14, 2018
National brokerage A.P. Reid Insurance Limited has announced its intention to acquire Wardell Insurance Limited effective Jan. 1, 2019. Following the completion of the transaction, Wardell’s Burlington, Ont. office and A.P. Reid’s office in nearby Waterdown, Ont. will merge into a new location to fit the growing team, A.P. Reid said Friday. The entire Wardell […]
HR
Brokerage owners in some regions are struggling to find staff who know commercial lines. “There are very few people (in Saskatchewan) who understand commercial insurance deeply,” said David Reidy, president and CEO of Regina-based commercial brokerage Henderson Insurance Inc. To recruit commercial brokers, Henderson “ends up pulling from different industry segments,” Reidy said in a […]
Brokers looking to set up a chatbot on their site should know the core business purpose of the chatbot and how to manage customer expectations, Mitchell & Whale Insurance Brokers said recently. “Do you want it to answer common customer questions, collect data, screen prospects or quote new business?” asked Amanda Ketelaars, operations manager at […]
By Jason Contant | October 12, 2018
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