Operations
A question posed at a recent event asked how many of the approximately 30 people in the room had ever been part of an acquisition or merger. Almost every hand went up. It seems just about every broker has been part of an acquisition or knows someone who went through it. It can be a […]
By Adam Malik | May 23, 2019
3 min read
While online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote tailored to their client’s unique risk profile, as well as coverage variations most commonly requested […]
By Jason Contant | May 23, 2019
Finding a business is much simpler these days. Rather the fishing around for the yellow pages, dropping it with a loud thud on a desk and flipping through the pages, people opt for a much simpler approach – Google. Anyone in the market for a broker is likely opening the world’s biggest search engine and […]
By Adam Malik | May 22, 2019
2 min read
As the federal government drafts regulations related to recent Bank Act amendments, the Insurance Brokers Association of Canada (IBAC) is confident that the fundamental aspects of their position have been upheld. Bill C-74, which received royal assent in June 2018, proposed amendments to the Bank Act to give banks additional powers regarding the ability to […]
By Jason Contant | May 17, 2019
Large commercial brokerage BFL Canada announced Tuesday the acquisition of British Columbia-based Summit Insurance Brokers Inc. Summit, based in Prince George, was founded in the late 1990s and brings expertise in industrial, commercial and farm risks to BFL Canada. Summit places a variety of property and casualty insurance for clients in central and northern B.C., […]
By Jason Contant | May 15, 2019
When it comes to summer perks, Canadian employees want their bosses to give them a more flexible schedule. Almost half (49%) of the 400 respondents to a survey from staffing firm Accountemps said they wanted more opportunities to work from home and have condensed days. So-called “Summer Fridays” that allow employees to leave early before […]
By Adam Malik | May 14, 2019
It’s a common misperception that large direct insurance companies have lots of money to invest in the best, most innovative technology, creating a divide between them and smaller, “have not” brokerages. But digital transformation is actually levelling the playing field between small brokerages and large direct insurers, says Andrew Au, co-founder of Intercept Group, a […]
By David Gambrill | May 14, 2019
“Google Home, Amazon Echo, buy me auto insurance for my new, black 2019 Hyundai Sontata.” If you are a broker, would you be able to handle this voice request for an auto insurance quote? If not, you’d better start strategizing for it, because many are predicting that voice-activated smart speakers will be the next generation […]
By David Gambrill | May 10, 2019
Customers in the digital age expect to hear back from brokers immediately, so if brokers don’t start investing in Customer Relationship Management (CRM) systems soon, well — good luck, says Dave Vass, vice president of innovation at Trufla Technology. Vass urged brokers attending the Insurance Brokers Association of Alberta (IBAA) 2019 Conference in Banff, Alta. […]
By David Gambrill | May 9, 2019
Legal / Regulation
A day many British Columbia policyholders have been calling for finally appears to be on the horizon. But it may force some brokers to change how they do business. While hosting an AMA (ask me anything) session on popular social media platform Reddit, B.C. Attorney General and Minister for the Insurance Corporation of British Columbia […]
By Adam Malik | May 8, 2019
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