Industry
The power of the broker lobby force has been evident in the ongoing bid to keep banks from selling insurance through their branches. Now, in a trying Ontario auto market where capacity is scarce and prices hardening, brokers are again being asked to make their voices heard. Incoming Insurance Brokers Association of Ontario (IBAO) president Jim Hawryluk will be among those leading the charge as brokers join insurers in encouraging legislative reform of the Ontario auto product.
By Vikki Spencer | September 30, 2002
5 min read
Home
You don’t have to be a mystic to predict that the next five years are going to be a time of change for Canada’s insurance industry, particularly the broker-based property & casualty sector. This should not come as a surprise, but trying to get 30,000 or so brokers to sign on to a sophisticated solution […]
By Ivor Kaye, Grantech Technologies | September 30, 2002
4 min read
Risk
For direct response insurers, the issue in today's "hard market" of escalating personal insurance premium hikes is not getting the phone to ring. It is more about how to handle the influx of calls from price shoppers, and at the same time achieve profitability, companies say.
By Craig Harris | September 30, 2002
6 min read
I have been asked a couple of times to publicly provide a "brokers perspective" on the current market situation as it relates to Atlantic Canada. While I certainly would not consider myself qualified to speak for all of the approximately 2,900 brokers in the region "which handle about $2 billion in annual premium" I have had the opportunity to speak with many brokers who have identified a number of common concerns and issues.
By Mike Brien, president of Macdonald Chisholm Insurance | September 30, 2002
While British Columbia escaped much of the auto underwriting hardships experienced by many of the other provinces, impact of the "hard market" has definitely been felt - which has kept brokers busy. The province's brokers also await the outcome of the B.C. government's decision regarding deregulation of the basic auto product.
By Don Ungaro, president of IBABC | September 30, 2002
With the birth of the Centre for Study of Insurance Operations' (CSIO) Internet portal, brokers and insurers can now "vamp up" their rating/ underwriting processes through "rules engine" technology which could produce significant savings in money, time and customer retention.
By Terry Neilson, president of Insurance Systems Inc. | September 30, 2002
The theme from panelists at a recent insurance conference in Toronto was clear - it's all about execution in today's tough marketplace. It was a message that even keynote speaker Rob Sampson warmed up to.
At the recently held Insurance Brokers Association of Canada (IBAC) AGM, newly elected president Brian Gilbert used a humorous analogy between the geography of his home province, Manitoba, in outlining the association’s long-term political cause to protect the legislative rights of the independent brokerage community: “As brokers, we have made it clear to politicians for […]
By Sean van Zyl, Editor | September 30, 2002
3 min read
Do you build detailed plans for your brokerage? Do you plan a budget? Do you forecast the changes that are coming in the industry and for your staff? Of course you do. Looking ahead and planning for the future are key activities that keep us prepared for what will come, or what may come. But how often do you consider what changes will happen to your technology? Do you take time to look at how well you are using your systems to create competitive advantage?
By Chris Venn, vice president of sales & marketing at Keal Technolo | September 30, 2002
Insurers in Louisiana will be paying out US$100 million in the wake of Tropical Storm Isidore, according to the state’s insurance regulator. Acting insurance commissioner Robert Wooley says the storm, which hit largely in the south part of the state, caused US$50 million in auto insurance losses alone. Homeowners losses total US$25 million, according to […]
September 30, 2002
1 min read
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