Operations
By acquiring managing general agents, Intact Financial Corp. gets a new stream of revenue and an opportunity to grow its commercial specialty business, says the leader of Intact’s MGA operations. When Intact acquired The Guarantee Company of North America from Princeton Holdings in 2019, Princeton also sold MGA Frank Cowan Company to Intact. This past […]
By Greg Meckbach | April 30, 2021
2 min read
Intact Financial Corp. is changing the brand name of Frank Cowan Company, the managing general agent it acquired in 2019 from Princeton Holdings. The MGA will be known as Intact Public Entities Inc. “The MGA distribution channel presents a strategic opportunity for Intact to deliver on its promise to build a leading North American specialty […]
By Greg Meckbach | April 28, 2021
Tech
When it comes to shopping for insurance online, the consumer experience will vary across platforms, something that isn’t always discussed when the industry talks about digitizing its customer experience. The matter came up recently during ‘Key Touchpoints in the Customer Journey,’ a panel discussion held Friday at InsurTech North, a conference produced by MSA Research. […]
By Greg Meckbach | April 23, 2021
This year’s federal budget could keep the restrictions, on banks selling home and auto insurance, for at least another four years. “There was an unexpected positive development in the budget for us,” Peter Braid, CEO of the Insurance Brokers Association of Canada, told Canadian Underwriter Wednesday. “The federal government has signaled in the budget that […]
3 min read
Legal / Regulation
Ontario’s insurance regulator has no plans to regulate fintechs or managing general agents in the near term. “We sort of feel like we have enough on our plates,” said Tim Bzowey, executive vice president of auto/insurance products for the Financial Services Regulatory Authority of Ontario. “It’s not that we’re not paying attention. But I think […]
By Greg Meckbach | April 22, 2021
Lemonade, Root and Metromile have a few things in common, and it’s not just their leading-edge technology. “Their performance has been consistently worse than those of their more traditional [insurance company] peers,” writes Joel Baker, CEO of MSA Research Inc. All three insurtechs have achieved unicorn status, meaning they each have a market capitalization of […]
By Greg Meckbach | April 19, 2021
Failure to install patch updates, relying too much on passwords, and failure to train employees are three sources of cyber security losses all too common among small business clients, a technology vendor suggests. One of the most common cyber security errors among small businesses is failing to install patch updates that are available from an […]
By Greg Meckbach | April 16, 2021
Duuo Insurance is working on a subscription model of buying insurance that gets away from the traditional way of buying annual policies that normally stay pretty much the same until renewal. The vision is an insurance product with different blocks of coverage that the client can pick and choose, and change as needed, without having […]
By Greg Meckbach | April 15, 2021
Search engine optimization (SEO), electronic transactions, and contracts with carriers insuring small to mid-sized enterprises (SMEs) are among the capabilities that made the Breckles Group of Companies attractive to Highcourt Partners. The merger of those two Canadian brokerages, resulting in the formation of the Highcourt Breckles Group, was announced this past Tuesday. The combined firm […]
Auto insurance has introduced pay-as-you-go options for personal clients, but in the era of business shutdowns to prevent the spread of COVID-19, it seems as though commercial lines could use a similar option as well. Brokers in a LinkedIn thread recently discussed the conundrum facing their business clients when they purchase insurance for a year […]
By David Gambrill | April 14, 2021
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