Industry
The Dominion of Canada General Insurance Company’s answer to the direct writing threat, Chieftian Insurance, is one of the future consumer-interaction options open to brokers, predicts Alan Hanks, vice president field operations of the new company. Hanks outlined the broad objectives of Chieftian, which is broker-based but employs a direct writing electronic approach to reaching […]
August 31, 1999
1 min read
Whether traditional players in the property and casualty insurance industry continue to hold the lion's share of business will depend on their willingness to embrace consumer-driven technologies and boost productivity, delegates attending the recently held Strategy Institute conference were told. In particular, the pressure of higher consumer expectations coupled with increased competition from new players to insurance will be felt mostly in the personal lines arena, the speakers warn.
By Sean van Zyl, Editor | August 31, 1999
8 min read
Given the breath-taking surroundings, subjects like e-commerce, branding and reducing work-related stress should have been far from the minds of delegates at the 76th Annual Insurance MarketingCommunications Association conference.
By Shelley Boyes | August 31, 1999
4 min read
This year, in an awards contest that often appears to be dominated by a few large companies with deep pockets, representatives of more than 30 insurance companies took home “Best of Show” and “Awards of Excellence” prizes from the IMCA’s Showcase Awards ceremony, held during the June 29 gala at the Keystone Resort in Colorado. […]
2 min read
With the conference and seminar season once again shifting into full drive, the message remains consumerism. Nothing new — the insurance industry has become almost anaesthetized by the repeated urgency to address consumer expectations. However, the latest round of discussions on the consumerism topic have shifted focus to the industry’s technology weaknesses. The emergence of […]
3 min read
Property & casualty insurance brokers are breathing a collective sigh of relief as the federal government’s discussion paper on the future of financial institutions in Canada effectively put a moratorium on the banks’ entry into the retail insurance market. Despite the Insurance Brokers Association of Canada (IBAC) lobbying efforts, which demonstrated the profession has clout […]
By Lowell Conn | August 31, 1999
6 min read
Donald Alexander, senior vice president of Guy Carpenter & Company Ltd. (Canada). My instincts tell me that the reinsurance market is under-priced. Rating models strongly indicate that market prices are below what they should be. This is not surprising, given year-after-year of price erosion and expansion of coverage. My gut feeling is that any “fat” […]
With mass consolidation converting the insurance industry into a global industry — and the increased cross-border transactions, partnerships and mergers between U.S. and Canadian insurer — it is fitting that North American insurers will meet this Fall for the first North American Insurance Conference. Co-chaired by Kingsway Financial Services Inc. president Bill Star and Serge […]
Listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. have announced their intention to merge operations with netpremium volume of $277 million. The newly formed corporation — expected to retain the Brokerlink brand name — will trade shares with existing Brokerlink stakeholders on a 2.5 to 1 basis, while existing Vector shareholders will receive […]
Dear Editor, We read the article by Lowell Conn, titled “Faith & Honour”, in your April 1999 publication and would like to comment on a couple of statements attributed to Ginny Bannerman. Ms. Bannerman is quoted as saying, in reference to Alberta’s new Insurance Act and Alberta’s educational requirements for general insurance brokers, “the requirement […]
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