Tech
Buying technology before thinking through the process that the new technology is supposed to enable is one reason why some projects are not well-executed, an insurance digital transformation leader suggested Wednesday. “When you start to think about digitizing things, you actually need to know how the process is supposed to work,” said Anna Foat, director […]
By Greg Meckbach | December 17, 2020
3 min read
Legal / Regulation
As the pandemic continues to plunge Canada’s property and casualty insurance industry deeper into the digital space, regulators are issuing ongoing reminders — and warnings — about how brokers are sharing and storing their clients’ personal data. Most recently, Peter Blodgett, president of the Registered Insurance Brokers of Ontario (RIBO), the province’s broker regulator, issued […]
By David Gambrill | December 15, 2020
2 min read
Operations
Compensation models based on performance continue to rise in popularity. A look at what some brokerages are doing and why…
By Jason Contant, Online Editor | December 12, 2020
The onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks retreated [from financing corporate deals], and one would expect they would,” said Steven Frye, a […]
By Greg Meckbach | December 10, 2020
Many brokers turned working from home into a success. What lessons can we take with us when we return to the office?
By Nick Novinger, Regional Manager (Quebec), Canadian Insurance Brokers Inc. | December 6, 2020
4 min read
Meet Clint Smith, chief operating officer of Manitoba-based Andrew Agencies Ltd., which recently acquired several brokerages in Saskatchewan. Smith gave us his take on the challenges brokers face in Western Canada, the response to the COVID-19 pandemic, and the inside scoop on his brokerage’s digital strategy. cu | How is the integration of recently-acquired brokerages […]
By Greg Meckbach, Associate Editor | December 5, 2020
6 min read
With property and casualty insurance carriers reportedly exiting the long-term care (LTC) class of business following a spate of class-action lawsuits related to COVID-19 deaths in nursing homes, insurance underwriters may be interested to know about a new technology in Canada that can monitor compliance with health and safety protocols. The location technology, introduced into […]
By David Gambrill | December 4, 2020
Asked what “value-added” services they are providing to clients, brokers say they are increasingly wearing a risk manager’s hat. That means giving their clients more holistic advice on claims, loss control, and risk mitigation.
By David Gambrill, Editor-in-Chief | December 4, 2020
5 min read
Insurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto insurance changes is to “focus” on several reforms. One of those proposed reforms is “increasing […]
By Greg Meckbach | November 24, 2020
Ontario’s broker association is keeping a close eye on a provincial government proposal to relax restrictions on credit unions selling insurance in branches. “We believe there is a public consultation that is going to take place in 2021, so we will wait and see what the details are,” Colin Simpson, CEO of the Insurance Brokers […]
By Greg Meckbach | November 19, 2020
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