Operations
Broker management system (BMS) tech vendors need to move away from spending time, effort and money on developing third-party rating tools used for comparison quoting, an insurance company executive said at a recent webinar on broker-carrier connectivity. Instead, they should consider working on an industry-wide quoting solution that, through APIs (application programming interfaces), connects brokerages […]
By David Gambrill | May 22, 2020
3 min read
In a world of working remotely from home during a global pandemic, Internet bandwidth is of primary importance for brokers to be able to serve their clients. But when the P&C insurance industry started migrating their workplace out of the office to avoid the spread of the novel coronavirus, they immediately discovered that not all […]
By David Gambrill | May 20, 2020
2 min read
Do you have questions about how the novel coronavirus pandemic is affecting your business continuity planning? Canadian Underwriter has answers. We spoke recently with Steve Whitelaw, vice president of broker and industry partnerships at Applied, shortly after airing the first episode of our webinar series in mid-April, COVID-19: Business Continuity in the Digital Age. Our […]
By David Gambrill | May 19, 2020
Tech
How to keep relationships, both internal and external, strong in today’s reality
May 9, 2020
4 min read
One long-term impact of the novel coronavirus pandemic may be an uptick in the sale of commercial cyber insurance policies, industry experts predicted during a recent Canadian Underwriter webinar. In addition, the pandemic may provide an opportunity for brokers to promote the sale of standalone cyber policies. One webinar panellist noted standalone policies generally provide […]
By David Gambrill | May 8, 2020
Commercial clients are vulnerable to hidden risks when they have large numbers of people suddenly working remotely or from home in a disaster, as we are seeing in the pandemic, experts told brokers listening in to Canadian Underwriter’s latest webinar. “I think we have seen unexpected, hidden cyber risks emerge since this new way of […]
By Greg Meckbach | May 1, 2020
Brokerages looking to manage their own cyber risk and advise commercial clients about their cyber risks should look to one major golden rule when employees work from home during the COVID-19 pandemic. “Your family members should not be using your company-issued device,” said Eduard Goodman, Global Privacy Officer of CyberScout. Absolutely, agrees Philomena Comerford, president […]
By Greg Meckbach | April 29, 2020
Rural clients should be able to access the Internet at high enough speeds for brokers to offer them digital services, says one Alberta broker. “I would say there is no issue,” said Rob Barros, chief technology officer and chief communications officer for Alberta brokerage Leibel Insurance Group. “A client, provided they’ve got access to the Internet […]
By Greg Meckbach | April 24, 2020
The COVID-19 pandemic is putting renewed emphasis on digitizing of insurance processes including payments, claims, applications and signatures, a Canadian fintech venture capital executive suggests. “This is a good opportunity for fintech, because the acceleration of innovation in financial institutions is going to be even more prevalent,” said David Nault, co-founder and general partner of […]
By Greg Meckbach | April 23, 2020
COVID-19 has sharply increased the demand for telemedicine in Canada, and with it comes emerging risks and possible unexpected gaps in coverage for clients. Telemedicine – or using video, audio and other technologies to deliver preventive, diagnostic and treatment services – allows practitioners and patients to practice social distancing while at the same time ensuring […]
By Jason Contant | April 22, 2020
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