Tech
Thinking about dabbling in blockchain or artificial intelligence (AI) at your managing general agency (MGA)? It’s probably best to focus on taking smaller steps first. “There’s a whole set of first steps that are being overlooked,” said Jeff McCann, CEO of Vancouver-based Digital MGA Marketplace Ltd., which helps brokers with automation solutions. “And that’s like, […]
By Jason Contant | November 30, 2018
2 min read
Operations
A Montreal-based commercial brokerage will soon join Aon Canada’s public sector practice. Aon reported Tuesday that Lemieux, Ryan and Associates will join the practice in Montreal as of Jan. 1, 2019. Lemieux, Ryan and Associates is a licensed general insurance brokerage specializing in servicing corporate, industrial, institutional and health science accounts based in Quebec. It […]
1 min read
HR
Looking outside the insurance industry appears to be a tried-and-true approach to recruiting talent, executives of managing general agents said Tuesday at the Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “We’ve had success actually looking for people with skills, rather than for people with insurance experience,” said David Cook, president of ENCON. “We often say we […]
By Jason Contant | November 29, 2018
Canada’s P&C industry will eventually move to using API (application programming interface) in its entirety, predicts the CEO of a technology company that helps brokers automate their workflows. “I think you’re literally looking at the monolithic system; there’s going to be one system that is going to do everything,” said Jeff McCann, CEO of Vancouver-based […]
The risk of a greater errors and omissions (E&O) exposure is a major reason why some brokers choose not to place business with a managing general agent (MGA), speakers said Tuesday at Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “We don’t want to have the issue of accountability that could come up with claims,” said Brenda […]
By Jason Contant | November 28, 2018
3 min read
Ransomware attacks are increasing, and as a result, there will likely be a shift in brokers and clients alike starting to recognize the value of the business interruption component of a cyber insurance policy, a specialist insurer said Monday. “Cybercrime and theft of funds is still largely our largest source of claims by frequency on […]
Figuring out what products your customers might buy next or what they are complaining about are two ways you could be using artificial intelligence now, the founder of a big data vendor suggests. “In the future you are going to see more technology organizations that just happen to be selling shoes or just happen to […]
By Greg Meckbach | November 28, 2018
Some insurers are looking for brokers who can help them use big data to customize products for small businesses, an insurtech founder suggests. “Big data is a loose term,” Mark Morissette, founder and CEO of Foxquilt said Tuesday in an interview. Specifically, he said insurers want to know of insurtechs: “How are you finding that […]
By Greg Meckbach | November 27, 2018
In a future characterized by “the trillion-sensor economy,” data will become the foundation of broker innovation, an insurtech innovator said Monday at the 2018 Top Broker Summit, hosted by Canadian Underwriter in Toronto. To prepare, brokers need to build strategies right now for capturing and using data in their systems, speakers at the summit urged. […]
By David Gambrill | November 27, 2018
The nation-wide mandatory data breach law that came into effect Nov. 1 is “a good way and a reminder to start the conversation with their clients,” but brokers should ultimately focus selling efforts on the crime and business interruption aspects of cyber insurance, an insurer suggested Monday. The federal Digital Privacy Act requires organizations to […]
By Jason Contant | November 26, 2018
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