Canadians who relocated to suburban and rural areas to work during the pandemic are driving longer distances upon returning to work, and plan to use their cars for the work commute more often in the future, a new Aviva Canada report showed. For auto insurance, the upshot of the post-COVID workplace may be higher claims […]
By David Gambrill | June 30, 2022
3 min read
Expect Canada’s solvency regulator to become more active in overseeing the P&C industry’s digital risks. “Insurers have become more digital with changes in business models and service delivery,” OSFI superintendent Peter Routledge said in prepared remarks to insurers attending the regulator’s June 20 virtual 2022 OSFI Insurance Risk Management Seminar. “This has been to find […]
By David Gambrill | June 27, 2022
3 min read
James Warburton has joined Gore Mutual Insurance Company as chief information officer, effective this week. He’ll lead Gore Mutual’s technology team through the next phase of its ‘Next Horizon’ digital transformation, which aims to create “a purpose-driven, digitally led, national insurer,” the company said. Warburton has a two-decade track record of leading teams and delivering […]
By Phil | June 9, 2022
1 min read
The industry’s heavy reliance on outdated legacy systems may be holding it back from modernizing, panellists note during a Canadian Underwriter webinar — and this could be a problem for attracting IT talent. “Legacy platforms are a big challenge for our industry,” says Trevor Wall, vice president of sales and distribution of business insurance at […]
By Alyssa DiSabatino | May 6, 2022
3 min read
Millennial consumers are about twice as likely to buy insurance online, so the industry needs to make some major tech innovations to keep up with these changing expectations. More than that, communication between brokers and customers need to take a different form, says a young Sudbury, Ont., broker. “Buying policies or servicing policies online is […]
By Alyssa DiSabatino | April 12, 2022
3 min read
Recent publication of API standards for policy inquiries for personal auto, habitational, individually rated commercial automobile (IRCA) and commercial general liability (CGL) are the foundational use cases to begin improving carrier and broker connectivity communications. “These 24 policy inquiry use cases are foundational for advancing JSON data standards in the industry,” said Catherine Smola, president […]
By Phil | April 4, 2022
3 min read
Even as instances of cyberattacks grow in North America and worldwide, business leaders in charge of cybersecurity appear to be putting other priorities first, according to a recent study from cybersecurity firm Trend Micro. It found that if push came to shove, 81% of IT decision-makers in Canada said their companies would compromise on cybersecurity […]
By Phil | April 1, 2022
2 min read
Commercial insurance brokers are a step closer to having standards for policy inquiries on certain auto and general liability coverage. The Centre for Study of Insurance Operations (CSIO) said its Innovation and Emerging Technology (INNOTECH) API working groups have published Application Programming Interface (API) standards using Java Script Object Notation (JSON) for individually-rated commercial automobile […]
By Phil | March 18, 2022
2 min read
Digitization is not slowing down, and so brokers and carriers need to improve customer service and a user’s online customer experience (CX), suggests a recent white paper by Reuters. According to the authors of Next Wave Insurance: Daring to be Different, the first step is to “put the customer back at the center of everything.” When […]
By Alyssa DiSabatino | March 17, 2022
3 min read
Insurance companies seeking to make good digital investments need to reevaluate their legacy technology systems, according to survey results from digital intelligence company ABBYY. As the workplace becomes increasingly digitized, ABBYY’s 2021 Digital Transformation Survey Results finds that the biggest barriers to digital transformation in the industry are: Sixty-one per cent of 1,220 surveyed companies said […]
By Alyssa DiSabatino | March 7, 2022
2 min read