Operations
Applied Systems announced Wednesday it has entered into a definitive agreement to acquire Indio Technologies, a software company that digitizes the insurance application and renewal process. The announcement comes less than two months after Applied acquired Policy Works, a major platform for commercial lines business in Canada. “We wanted to bring a team that had […]
By Jason Contant | December 4, 2019
3 min read
Hard market conditions will likely stay the same in 2020, but brokers will not. Here’s how you can expect brokers to change over the next year...
December 3, 2019
5 min read
Finding it harder to recruit young people? Try explaining what insurance brokerage employees actually do, panelists advised brokers at a recent conference. “People who don’t work in the insurance industry have a distorted view of what it’s like to be in insurance sales,” said Peter Morris, president of Robertson Morris Consulting. “They think that in […]
By Greg Meckbach | December 3, 2019
Legal / Regulation
VICTORIA – Premier John Horgan says ride-hailing is on its way to British Columbia and if the service isn’t available by Christmas it shouldn’t be seen as a government failure. The premier says the approval process to bring ride-hailing services to B.C. is well underway but it has been time consuming and taken longer than […]
By Jason Contant | December 3, 2019
2 min read
When private equity players are looking to buy firms they think are “recession proof” and brokerage owners reach retirement age, it’s a recipe for more mergers and acquisitions, insurance professionals heard last week at KPMG Canada’s 28th annual insurance conference. Canada saw 47 merger and acquisition transactions in insurance distribution during the third quarter of […]
By Greg Meckbach | December 2, 2019
If you manage a brokerage that has merged, don’t forget to tell every employee why the transaction took place and what the end goal is, brokerage leaders who have been through the process said Thursday. “I don’t think, in any situation, in any acquisition in which I have dealt, that somebody complained that they were […]
By Greg Meckbach | November 29, 2019
HR
Commercial brokerages are looking at non-traditional approaches, particularly around technology, to attract and build producer talent, speakers said Thursday at Insurance Bureau of Canada’s inaugural Commercial Insurance Symposium in Toronto. “We’re seeing some commercial brokerages put increasing emphasis on [non-traditional approaches] and getting more digital-savvy and plugging into different ecosystems than they traditionally would to […]
By Jason Contant | November 29, 2019
4 min read
Tech
Most home insurance clients don’t know they could be covered for identity theft, Top Broker Summit attendees heard Monday. “On the personal lines side, there have been a number of companies in Canada that have offered identity theft coverage for 10, 12 or 13 years. I think most Canadians don’t know it’s available,” said Paul […]
By Greg Meckbach | November 27, 2019
Forget about attracting talent, keeping up with rapid change, or complying with a myriad of regulations – what’s really keeping insurance executives up at night is scaling artificial intelligence (AI) for their business. According to a recent report from Accenture, based on a global survey of 1,500 C-level executives across 16 industries (including 113 executives […]
By Jason Contant | November 27, 2019
How do you insure intangible assets like intellectual property or data on the cloud? If you are not thinking about this now, you could be in a few years, insurance company executives told brokers attending Canadian Underwriter‘s Top Broker Summit meeting in Toronto Monday. For many of the world’s largest companies, most of their assets […]
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