Tech

Underwriting long term care: Transforming liability into opportunity

With property and casualty insurance carriers reportedly exiting the long-term care (LTC) class of business following a spate of class-action lawsuits related to COVID-19 deaths in nursing homes, insurance underwriters may be interested to know about a new technology in Canada that can monitor compliance with health and safety protocols. The location technology, introduced into […]

By David Gambrill | December 4, 2020

4 min read

IBAO’s stance on electronic termination of coverage

Insurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto insurance changes is to “focus” on several reforms. One of those proposed reforms is “increasing […]

By Greg Meckbach | November 24, 2020

2 min read

So you’re going digital. How much speed do you need?

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

How ‘extra steps’ can make for a bad customer experience

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

3 min read