HR
The sharing economy is not fully served by the insurance industry right now, but the opportunity is there, Paul Kovacs, founder and executive director of the Institute for Catastrophic Loss Reduction, said on Thursday at the CIP Society Symposium 2017. Kovacs, who is also a research consultant for the Insurance Institute of Canada (IIC) and […]
By Jason Contant | April 9, 2017
4 min read
Tech
If the insurance industry doesn’t start meeting unmet customer needs and responding to trends like the sharing economy, new entrants will likely continue to disrupt the industry, attendees to the CIP Society Symposium 2017 heard on Thursday. “The big risk for us is the new competitors that may come in to meet these needs really […]
By Jason Contant | April 7, 2017
3 min read
The Insurance Corporation of British Columbia (ICBC) has posted a Request for Information (RFI) on BC Bid for market research and technology aimed at reducing distracted driving. The posting of the RFI, as part of ICBC and the government of British Columbia’s continued commitment to reducing distracted driving, was announced on Wednesday. “ICBC is interested […]
By Canadian Underwriter | April 6, 2017
2 min read
Aviva Canada has announced an equity partnership with real estate marketplace and brokerage Casalova. Aviva Canada announced the partnership in a press release on Wednesday, noting that the $2.5 million investment is being made by Aviva Ventures, Aviva plc’s venture capital arm, who have committed to investing $170 million globally over the next five years […]
By Canadian Underwriter | April 5, 2017
One Alberta brokerage and two Ontario brokerages announced on Tuesday that they will join BrokerLink, one of the largest Canadian property and casualty insurance brokerages. Alberta-based Full Circle Insurance Ltd. and Ontario brokerages Fairview Insurance Brokers Inc. and Steven Kaluski Insurance Brokers Ltd. announced they would join on Tuesday, BrokerLink reported in a press release. […]
Much remains to be done to bolster awareness, availability and take-up of p&c insurance on a global scale, but there are encouraging signs in play that may be further advanced by use of technology, Moses Ojeisekhoba, chief executive officer, reinsurance for Swiss Re, suggested Tuesday. “We’re still a long way from actually getting to the […]
By Angela Stelmakowich | April 5, 2017
Analytics is the single greatest disruptor to the Canadian insurance industry today, according to 65% of executives polled for a recent survey by Insurance Nexus, a division of FC Business Intelligence. Insurance Nexus reported on Tuesday that it recently surveyed more than 100 insurance executives from across Canada to get a benchmark of “what is […]
By Canadian Underwriter | April 4, 2017
More than 80% of homeowners insurance carriers in the United States believe that smart home and Internet of Things (IoT) technology will attract new property and casualty customers and improve customer relationships, according to a new report from NTT DATA. The IoT Disruption and Opportunity in the U.S. Insurance Industry research report was released on […]
Technology was the main item on the menu at the 2nd Annual Insurance-Canada.ca Broker Forum. As quickly as things are changing for brokers and their partners - driven, in large part, by customer wants and demands - is the breadth of options available for brokers to sample.
April 1, 2017
7 min read
Major upheavals within many insurers' underlying systems are necessary to answer the changing needs of the insurance world and the changing demands of consumers. Brokerages, in turn, will need to stay current with broker management system software releases to both access new connectivity capabilities and be able to offer the full set of data required by insurers.
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