Operations
It can be enticing to jump on board as soon as you hear about the latest and greatest doodad to help your business. But getting distracted by the promises of every insurtech option is something one broker tries to avoid. Instead, Joanna Mendonca prefers the wait-and-see approach. “I think we guard against what we would […]
By Adam Malik | September 30, 2019
3 min read
Legal / Regulation
Artificial intelligence may be able to help auto insurers convince regulators to relax certain prohibitions on rate restrictions, the founder of an A.I. vendor suggests. In Ontario, insurers are prohibited from using several factors – such as certain at-fault accidents, credit history or how long the client has lived in their current home. The client’s […]
By Greg Meckbach | September 27, 2019
4 min read
Brokers need to do a better job of securing cyber insurance coverage for their small and medium-sized business (SME) clients, the results of a new nationwide poll conducted by Leger show. “In the last three years, has your insurance professional spoken to you about cyber insurance for your business?” asked the Insurance Bureau of Canada-commissioned […]
By Jason Contant | September 27, 2019
As the market transforms, risk managers are looking for their brokers to keep them up to speed on market dynamics and why they are happening, a panel discussion said. Times are more challenging for everyone in the insurance industry, which means brokers need to ensure clients are not left in the dark, said Aon Canada’s […]
By Adam Malik | September 26, 2019
Eighty percent of CEOs believe they provide great customer service, according to a recent survey from IBM. However, only 8% of customers believed they receive such service. That disconnect could be killing your brokerage. “If you’re sitting here right now thinking about your level of customer service, and you’re confident that you think you could […]
By Adam Malik | September 25, 2019
HR
Debating on taking that risky project others seem to be shying away from? One insurance leader believes you should jump all over it. There was a point in her career when people told Christine Lithgow to not take on a project because they believed it was too dicey. She was moving up the ranks and […]
By Adam Malik | September 19, 2019
2 min read
Insurers should consider self-regulating machine learning practices before regulations are imposed on them, a speaker suggested last week at the Connected Insurance Canada conference in Toronto. Moderator Stephen Applebaum, principal at Insurance Solutions Group, asked panelists if regulators understand machine learning and their perspectives on using machine learning in insurance, particularly since it’s difficult to […]
By Jason Contant | September 18, 2019
As Baby Boomers retire en masse from the P&C insurance industry in Canada and Millennials step into leadership roles, the younger generation is missing out an opportunity to learn soft skills from the older generation. That was one of the messages delivered at the Connected Insurance Canada conference last week. Kiara Graham, a learning strategy […]
By Jason Contant | September 17, 2019
Tech
Financial institutions looking to adopt and develop best practices on the responsible use of artificial intelligence (AI) should focus on three areas: explainability, bias and diversity, experts say. A new TD Bank Group survey of 1,200 Canadians found that a majority of Canadians (72%) are comfortable with companies using AI if it means they’ll receive […]
Christine Lithgow had one simple response to her employer when they offered her a position that was junior in comparison to the one she left six years prior after the birth of her first child. “I had to remind them: It was a baby that dropped out of my uterus, not my brain,” the chief […]
By Adam Malik | September 16, 2019
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