Ask the Experts
Claims management is a core pillar of the insurance industry. It represents the moment when insurers deliver on their promise to be there for their customers. But today, insurers face a multitude of challenges that are placing extraordinary pressure on their claims handling processes, including an unprecedented surge in claim volumes, rising fraud, strained resources, […]
By Interac | December 2, 2024
3 min read
In today’s ever-evolving commercial automobile and long-haul trucking industries, staying ahead requires more than just reliable vehicles and experienced drivers. Telematics technology is transforming the way fleets are managed, offering a powerful tool that enhances safety, efficiency, and improvements to a company’s bottom line. Whether businesses are in the process of building their commercial fleet […]
By Echelon Insurance | November 25, 2024
Experiencing a claim can be extremely stressful, causing feelings of uncertainty and frustration as customers deal with the immediate loss and its repercussions on their personal lives or business. Insurance providers rely on brokers to help relieve some of the uncertainty by educating their customers on what to expect during the claims process and having […]
By Echelon Insurance | November 11, 2024
Canadian insurance companies are facing one of their biggest challenges yet: mitigating rising fraud and compliance risk, while also providing a seamless, trusted digital customer experience as they modernize the way they collect, verify, and secure customer data. Canadians lost almost $570 million to fraud last year, notes the Canadian Anti-Fraud Centre. Since only one […]
By Interac | November 5, 2024
4 min read
Insights
As the insurance industry is rapidly evolving, the need for brokerages to be agile and adaptable is greater than ever. Agility is not just a trend but a crucial survival skill in an era defined by shifting customer expectations and emerging technologies. To thrive, brokerages must combine an agile mindset with effective change management practices, […]
By QuickFacts | November 1, 2024
In today’s highly competitive and ever-changing business environment, businesses large and small face an unprecedented number of exposures that can disrupt business operations. Imagine a mid-sized manufacturing company that suddenly faces a catastrophic flood, crippling its operations. While direct property losses can be overwhelming enough, they often pale in comparison to the loss businesses experience […]
By Echelon Insurance | October 30, 2024
In a world where customer experience is a cornerstone of success for Canadian insurers, enhancing the customer journey means modernizing outdated processes and addressing emerging risks — especially when it comes to data verification. Manual data collection, fraud vulnerabilities, and resource constraints have traditionally hindered progress, but Interac Corp. (Interac) is stepping up to help […]
By Interac | October 24, 2024
Successful businesses evolve. If they don’t, they flatline and eventually fail. Successful insurance products evolve too. Traditionally, this has meant that once every few years, insurers would revamp existing products, retire obsolete ones and perhaps launch one or two new offerings. In-between, we’d tweak limits and introduce new exclusions and the occasional endorsement. Then the […]
By Intact | October 14, 2024
Artificial Intelligence (AI) and new so called ‘deepfake’ tools are being deployed by cyber criminals to defraud companies out of significant amounts of money. A recent example of this new phenomena in action occurred in May this year. News of an elaborate deepfake scam broke. UK engineering group, Arup, suffered a US$25m loss, when a […]
By Beazley | October 9, 2024
In today’s digital age, cyber risks are everywhere, and the damage inflicted by a cyber attack can be devastating. Protecting against these threats requires more than just a basic firewall: modern hackers are more sophisticated, and defense strategies must evolve accordingly. It is essential that businesses and individuals have the necessary tools and services to […]
By HSB Canada | October 7, 2024
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