Operations
Broker-insurer connectivity took a step forward this week, when the Insurance Brokers Association of Canada (IBAC)’s data exchange working group announced it had completed a first notice of loss (FNOL) transaction in real-time. The working group developed the first FNOL transaction as a reusable data service (RDS) and placed it in a library hosted at […]
By Jason Contant | September 12, 2019
3 min read
HR
Despite research showing that Millennials now make up the largest generational cohort in Canada’s property and casualty insurance industry, the industry still has some work to do to keep Millennials engaged once they’ve made the jump into the profession, according to Jeff McCann, co-founder and CEO of Apollo Exchange. “So many job postings are for […]
The Internet of Things (IoT), the “connected economy,” and other phenomena driven by convergence will cause insurance premiums to go down, one industry analyst predicted last week at the Insurance-Canada.ca Executive Forum. “The rate at which this is going to happen, and is happening, is a whole discussion by itself, but it is happening,” Donald […]
By Jason Contant | September 9, 2019
Intact subsidiary BrokerLink is continuing its acquisition spree, announcing last week that it has bought two family-owned brokerages in Ontario. BrokerLink, one of the largest property and casualty insurance brokerages in Canada, said Sept. 4 it acquired Bradley’s Commercial Insurance Limited and Phil Leon Insurance Brokers Inc., effective Sept. 1. Terms of the transactions were […]
2 min read
Hub International’s latest acquisition in Ontario is a bit of a break from its recent transactions in the country, which were focused on western Canada. Chicago-based Hub announced Thursday that it had acquired Mississauga, Ont.-based independent employee benefits consulting firm GMS Insurance Inc. Last year, it acquired the affiliated Kitchener, Ont. operations of GMS. Before […]
By Jason Contant | September 6, 2019
Tech
The rise of the gig and sharing economies stands to kill a traditional insurance selling feature: bundled policies. That means it’s time to change the way the industry approaches its selling strategy, one insurance expert believes. The growth of gig work – in which people jump from temporary job to temporary job, mostly through contract […]
By Adam Malik | September 6, 2019
So you’ve just installed this new digital doodad to make your customer’s life easier – great. But did you inadvertently just make things more frustrating for your client? Warren Lederer, chief operating officer at Madison Advisors, which works in the customer communications management space, told attendees of the Insurance-Canada.ca Executive Forum in Toronto recently that […]
By Adam Malik | September 5, 2019
Will the likes of Google, Amazon, Lyft and Uber move into the insurance space? One expert offers insights on what to expect.
Ontario has become the fourth province in Canada to approve the use of electronic proof of auto insurance (EPAI) for drivers, effective immediately. The approval, announced Thursday morning by Ontario’s Minister of Finance, Rod Phillips, follows the lead of Alberta, Newfoundland and Labrador and Nova Scotia. Nova Scotia was the first province to approve electronic […]
By Jason Contant | September 5, 2019
4 min read
VANCOUVER – A coalition of nine taxi companies in Metro Vancouver has asked the B.C. Supreme Court to quash ride-hailing rules it says were illegally created for companies such as Uber and Lyft. The companies say in their petition that the Passenger Transportation Board had no authority to set binding policy guidelines for ride-hailing services […]
1 min read
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