Operations
Things could get interesting for brokers in Atlantic Canada if Intact takes over RSA’s Canadian operations, a Saskatchewan broker told Canadian Underwriter Friday. That being said, he felt if the proposed deal announced Thursday goes through, it would still leave plenty of choice among insurers in the Canadian property and casualty market. David Pettigrew, CEO […]
By Greg Meckbach | November 6, 2020
5 min read
Legal / Regulation
While the global COVID pandemic may have sharpened the insurance industry’s focus on providing digital solutions to customers quickly, the speed at which the industry can move remains limited by traditional barriers such as a carrier’s organizational culture, regulation, and legacy systems. Panellists at the online conference Future of Insurance Canada, organized by Reuters Events, […]
By David Gambrill | November 3, 2020
3 min read
HR
Brokers who are concerned about carriers having “too direct” of a relationship with the broker’s customers should consider what service those customers are expecting, an industry consultant suggests. “As an industry, we have a number of places where we have inserted extra steps because of people’s sensitivity or mistrust of each other,” said Bryan Falchuk, […]
By Greg Meckbach | October 27, 2020
With a week to go before Hallowe’en, Ontario brokers heard some spooky stories last week about what happens if a brokerage does not invest in keeping up to date with technology. “Technology is going to be a much more permanent feature of your investment budget, and I don’t think it has to eliminate your margins; […]
By Greg Meckbach | October 26, 2020
Government and the industry should take a close look at the structure and regulation of “middle players” in the commercial property and casualty insurance market, Ontario brokers heard last week at their annual convention. “We know there are some things happening in the market where some rules…do not apply to everyone in our market, and […]
4 min read
Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15 years ago, the multiples that buyers paid to acquire brokerages were in the 2.5 to […]
By Greg Meckbach | October 23, 2020
Tech
Top 5 reasons why commercial lines real-time quoting should be a priority
October 22, 2020
Traditional insurance policies can be hard to read on mobile devices and legalistic language can make them difficult to understand, Lloyd’s suggested in a recent report. The design and format of policy documents is important, Lloyd’s said in Building simpler insurance products to better protect customers, a report released Oct. 12. “Many traditional policy documents […]
By Greg Meckbach | October 21, 2020
2 min read
When Bob Tisdale started his insurance career in the late 1970s, his employer at the time was just starting to adopt computers. “A lot of people at the time predicted that that was going to be the end of everybody’s job,” said Tisdale, who retired this past summer as president and chief operating officer of […]
By Greg Meckbach | October 20, 2020
Insurance is a cool industry, but not enough people know it. John McNeil, program coordinator and full-time professor at Humber College’s insurance management program, explains how to change that – As told to Adam Malik We as an industry need to walk with a little bit of swagger. Insurance is an awesome industry […]
October 20, 2020
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