Tech
With the end of the pandemic now a distinct possibility, Canadians are expecting the property and casualty insurance industry to up its game in customer service, industry execs observed in a recent webinar. “The move to digital [in March 2020] was so immediate and so abrupt that…it wasn’t done flawlessly,” Nathan LaFayette, chief insurance officer […]
By David Gambrill | May 19, 2021
3 min read
Operations
Digital has made it easier for Canada’s property and casualty insurance industry to serve customers who wish to purchase a fairly straightforward insurance product, but more emphasis needs to be placed on converting customers who are kicking the tires on more complex insurance purchases, says a P&C industry exec. Specifically, the industry needs to be […]
By David Gambrill | May 18, 2021
By aiming for a customer experience that consumers expect and receive from non-insurance companies, Mitchell and Whale is planning to become a Top 20 national broker by 2030. “We are not targeting an experience that we know exists inside of insurance,” Adam Mitchell, president of Whitby, Ont.-based Mitchell & Whale, told Canadian Underwriter in an […]
By Greg Meckbach | May 13, 2021
2 min read
As business leaders await an easing of pandemic lockdown restrictions, Aon Plc executives suggest that, going forward, they plan to apply the lessons they’ve learned during COVID-19 regarding collaboration. “We are going to be smart about how we do [travel and entertainment] in the future, as business opens up to in-person meetings,” Aon president Eric […]
By Greg Meckbach | May 11, 2021
The hard market in commercial lines has caused some managing general agents to lose some products, yet more insurance is still being placed through MGAs, panelists told brokers listening to a recent webinar. “I think it’s a perfect way for insurance companies to put back capital into the marketplace … without having to invest in […]
By Greg Meckbach | May 10, 2021
Open banking rules could help create a level playing field between technology companies and the insurance industry, speakers suggested at a recent virtual conference. Bringing in “consumer-directed finance” will help consumers benefit from a broader range of financial products and services, the federal government-appointed Advisory Committee on Open Banking recommended in January 2020. The idea […]
By Greg Meckbach | May 8, 2021
Debates about whether humans or computers are at the centre of innovative insurance products are a red herring — the best way to build an insurance product is an integrated approach using the best of what humans and machines have to offer. “The lesson is to outsource [to computers] the part of human expertise most […]
By David Gambrill | May 4, 2021
By acquiring managing general agents, Intact Financial Corp. gets a new stream of revenue and an opportunity to grow its commercial specialty business, says the leader of Intact’s MGA operations. When Intact acquired The Guarantee Company of North America from Princeton Holdings in 2019, Princeton also sold MGA Frank Cowan Company to Intact. This past […]
By Greg Meckbach | April 30, 2021
Intact Financial Corp. is changing the brand name of Frank Cowan Company, the managing general agent it acquired in 2019 from Princeton Holdings. The MGA will be known as Intact Public Entities Inc. “The MGA distribution channel presents a strategic opportunity for Intact to deliver on its promise to build a leading North American specialty […]
By Greg Meckbach | April 28, 2021
When it comes to shopping for insurance online, the consumer experience will vary across platforms, something that isn’t always discussed when the industry talks about digitizing its customer experience. The matter came up recently during ‘Key Touchpoints in the Customer Journey,’ a panel discussion held Friday at InsurTech North, a conference produced by MSA Research. […]
By Greg Meckbach | April 23, 2021
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