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Economical Insurance is expecting “significant growth” in its broker channel over the next five years, possibly 25% bigger than where it is today, outgoing president and CEO Karen Gavan said on Thursday during the 96th annual Insurance Brokers Association of Ontario Convention. “Our growth strategy is multi-faceted: both organic growth and growth through mergers and […]
By Jason Contant | October 21, 2016
3 min read
Insurance providers need to “rethink” how they provide advice to customers in their 20s and 30s, the president of Intact Insurance suggested Thursday to an audience of Ontario brokers. “Millennials still want advice,” Intact Insurance president Jean-Francois Blais said during the CEO Panel at the Insurance Brokers Association of Ontario annual convention. J.D. Power and […]
2 min read
Driven by growth in software and IT services revenue, worldwide IT spending is forecast to reach US$3.5 trillion in 2017, up 2.9% from 2016 estimated spending of US$3.4 trillion, according to the latest forecast by Gartner, Inc. Gartner, an information technology research and advisory company, said in a press release on Wednesday that the “bright […]
By Canadian Underwriter | October 19, 2016
Insurance brokers who compete against one another need to change their mindset and work with their competitors to address threats which could disrupt the industry, a speaker suggested Wednesday in Toronto. “If you all think each other are the competition, Brokerlink will continue to pick you off one at a time,” said Jim Harris, keynote […]
By Jason Contant | October 19, 2016
Fewer than half of Alberta small enterprises surveyed reported having a business continuity plan, ATB Financial announced Monday. In its Business Beat Survey, 300 owners and operators of small and mid-sized enterprises were asked in a phone survey whether their organizations have formal business continuity plans. One in five said they have a formal plan […]
By Canadian Underwriter | October 18, 2016
The board of directors of Peace Hills Insurance announced on Monday that Diane Brickner has agreed to serve as interim president and chief executive officer of the company, effective immediately. Brickner replaces Gene Paulsen, who has announced his retirement from the company, Peace Hills Insurance said in a press release. Brickner will serve on an […]
Most small business owners in the United States (78%) still don’t have a cyberattack response plan, even though more than half (54%) were victim to at least one type of cyberattack, according to Nationwide’s second annual Small Business Indicator. The survey, released on Thursday, found that 60% of respondents who did experience a cyberattack said […]
By Canadian Underwriter | October 13, 2016
Nearly four in five (78% of) global businesses believe that digital start-ups pose a threat to their organization, either now or in the future, and almost half (45%) surveyed fear that they may become obsolete in the next three to five years due to competition from digital start-ups, according to new research from Dell Technologies. […]
By Canadian Underwriter | October 7, 2016
Insurers in the United States could only answer 28% of queries across digital channels and 14% of companies failed to respond successfully on either email, social media or chat, according to new research from multichannel customer engagement software provider Eptica. “Despite the growth of digital channels, insurers seem to be stuck in an analog world, […]
By Canadian Underwriter | October 6, 2016
When developing perpetuation plans, brokerage principals need to consider financing for prospective successors. They also need to consider their brokerage experiences as well as soft skills, including positive attitude and the ability to enable and motivate producers.
By Brenda Rose, Vice President and Partner, FCA Insurance Brokers | October 4, 2016
7 min read
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