Operations
Disruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed as a threat,” said Rod Campbell, director and CEO of brokerage Jones Brown Inc., during […]
By Greg Meckbach | December 11, 2019
3 min read
Canada’s largest property and casualty insurer plans to be ready for companies from outside the industry who could disrupt the brokerage side of personal lines insurance. “On the distribution side of things, I think one needs to expect that players with big brands, better know-how and insight of customers and great experience might disrupt distribution,” […]
By Greg Meckbach | December 10, 2019
Tech
Technology should enhance your anti-fraud strategy, not replace it. Here’s why...
December 6, 2019
4 min read
Nearly seven in 10 customers want to be able to contact a business via text message but just 13% of small and medium businesses are actually using the medium to communicate with their customers, according to a recent study. While stats aren’t available as to how many brokers text back and forth with their client, […]
By Adam Malik | December 6, 2019
Brokers need to focus their cyber insurance selling efforts on more than just traditional privacy risks and tailor them to specific industries, a specialist insurer said Wednesday. “Cyber is about way more than just privacy and if you explain to your clients that cyber risk exists outside the realm of just privacy, there’s much more […]
By Jason Contant | December 6, 2019
Dave Partington has been named CEO of Gallagher’s Canadian retail property and casualty brokerage operations. Gallagher is a global insurance brokerage, risk management and consulting services firm. Partington will lead the strategy and culture for continued growth across Canada, according to the Rolling Meadows, Ill.-based brokerage. Partington joined Gallagher in 2012, initially leading the regional […]
By Jason Contant | December 5, 2019
1 min read
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Author: Michael Parent, Professor of Management Information Systems, Simon Fraser University Do you remember when 40 million was a large number? Forty million dollars in […]
5 min read
When change hits other industries, property and casualty insurance leaders need to be included in the process to assess the impact such changes would have on insurance, says one veteran broker. Otherwise, don’t be surprised when insurance pros are caught off guard when new trends emerge. The current challenge facing auto lines is a perfect […]
By Adam Malik | December 4, 2019
2 min read
Insurance Brokers Association of Canada (IBAC) and Canada Safety Council (CSC) have teamed up for a new social media-led campaign timed to coincide with Distracted Driving Week, which runs until Dec. 7. The campaign focuses on two key distracted driving behaviours: texting and eating. Even if a driver is lucky enough to avoid injury or […]
By Jason Contant | December 4, 2019
Concerned about whether “black box” underwriting methods based on artificial intelligence are good for your clients? So is Canada’s federal insurance regulator. “We get a lot of questions around AI and what are we to do about it,” said Neville Henderson (pictured, below right), assistant superintendent of the Office of the Superintendent of Financial Institutions. […]
By Greg Meckbach | December 4, 2019
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