Industry
Predictive analytics to address issues such as claims fraud, underwriting and customer segmentation can help leverage business intelligence tools to create predictive models to more effectively and accurately make business decisions.
By Nicolas Michellod, Senior Analyst, Insurance, Celent | May 31, 2014
5 min read
Going paperless offers the promise of some significant efficiencies and costs savings. Combining different solutions, however, can provide brokers the biggest bang for the buck.
By Catherine Smola, President and Chief Executive Officer, Centre for Study of Insurance Operations | May 31, 2014
1 Aviva Insurance Company of Canada has announced that Sharon Ludlow [1] is the company’s new president, effective June 17. Ludlow’s last position was as president and chief executive officer of Swiss Re in Canada. In the newly created role at Aviva Canada, Ludlow will be responsible for its broker distribution operations and customer, marketing […]
May 31, 2014
4 min read
The Centre for Study of Insurance Operations (CSIO) is introducing draft versions of two pollution liability insurance application forms — one for premises owners and the other for contractors — with a working group scheduled to meet by webinar June 11. In an e-mail to members this week, Toronto-based CSIO sent PDF versions of the […]
By Canadian Underwriter | May 30, 2014
2 min read
The use of telematics, to set auto insurance rates based on driving behaviour, presents both an opportunity and a risk for brokers, speakers suggested at a recent technology conference for brokers. “One of the things that you folks have that insurance companies don’t have is a very clear picture of the customer, what their needs […]
3 min read
WASHINGTON – The economic and societal harm from motor vehicle crashes amounted to a whopping $871 billion in a single year, according to a study released Thursday by the National Highway Traffic Safety Administration. The study examined the economic toll of car and truck crashes in 2010, when 32,999 people were killed, 3.9 million injured […]
By Canadian Underwriter | May 29, 2014
Young drivers might be most open to usage based insurance because of their often high premiums, but connecting with parents can be the key when marketing telematics programs. “The parents do need the premium relief too – they’re usually paying the bills,” Paul Mlodzik, vice president of marketing and communications for The Co-operators said during […]
A majority of Canadians are optimistic about usage-based auto insurance if it could lower their rates, but awareness of telematics programs remains quite low, according to a new survey from Kanetix. “Consistent with all the other surveys so far, 18% of Canadians are familiar with UBI and specifically only 2% of that portion is very […]
By Canadian Underwriter | May 28, 2014
Half of the respondents to a poll marking the one-year anniversary of Desjardins General Insurance Group’s (DGIG) launch of its usage-based insurance (UBI) programs said they are safer drivers and almost seven in 10 said they now pay more attention to acceleration and braking. Results of the survey – based on input from 257 Ajusto […]
Using electronic and voice signatures instead of having customers put pen to paper have allowed some brokers to avoid errors and omissions exposures and cut out steps in their workflow, though some insurance transactions still require signed paper, speakers suggested Wednesday during Real Time Days. Beth Sigurdson, a partner with Efficient Broker, said her firm […]
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