Legal / Regulation
B.C.’s provincial government will introduce legislation to enable ridesharing in the province by fall of 2019, prompting the industry’s private insurers to say they can provide ridesharing insurance faster and better than the province’s public insurer. B.C.’s Ministry of Transportation and Infrastructure said in a press release last week that the government expects applications from […]
By Jason Contant | July 24, 2018
3 min read
Tech
The use of telematics in pricing auto insurance is going to become more “prevalent,” and a major property and casualty insurer is trying to use the technology to get a better idea of driver risk, speakers said during a recent webinar. Intact Insurance is trying to get beyond the use of proxies for determining risk […]
By Greg Meckbach | July 24, 2018
2 min read
Canadian P&C insurance companies have entered a transitional technology phase that will see data from their legacy systems get transferred online. “We are in a hybrid-cloud paradigm,” Frank Attaie, vice president of cloud and software at IBM Canada, told Canadian Underwriter Monday. One part of the hybrid model refers to core computer or “legacy” systems, […]
By David Gambrill | July 24, 2018
Operations
Want to improve your sales? Stop focusing on your technique as a salesperson and start relying on scientific studies of what the buyer is thinking, Steven MacDonald advises in a blog written for SuperOffice. “Science-based selling uses scientific research to understand what is happening inside the buyers’ brain, and how their brain can be influenced,” […]
Specialized travel insurance provider TuGo has launched an Affiliate Program, a secondary distribution channel to reach travellers who aren’t currently buying products through traditional channels such as brokers. TuGo’s CEO, Patrick Robinson, told Canadian Underwriter Monday that TuGo’s Affiliate Program (TAP) is designed for Canadian individuals and organizations who are unlicensed to sell travel insurance, […]
By Jason Contant | July 23, 2018
HR
A new breed of vulnerable and humble leader is bucking the traditional stereotype of the uber-confident, omniscient and fully prepared CEO.
By David Gambrill | July 23, 2018
The public policy division of Travelers is recommending that a “clear risk transfer mechanism” be in place to adapt auto insurance for autonomous vehicles. “While there has not been widespread attention paid to how liability and compensation will be addressed as AVs [automated vehicles] multiply, product liability has been raised as the inevitable default option,” says a […]
By Jason Contant | July 22, 2018
When Intact started giving discounts on auto insurance to people with winter tires, the result appeared to be counter-intuitive. Motorists insured by Intact who reported having winter tires installed “were having worse loss ratios” than those driving in the winter without winter tires, Jean-François Larochelle director of Intact’s data lab, suggested Wednesday during a webinar, […]
By Greg Meckbach | July 22, 2018
The Co-operators and insurtech Slice Labs announced Wednesday a partnership to allow the insurer to launch a new digital insurance brand in Canada. The first product – underwritten by The Co-operators – will be a pay-per-use homeshare offering under the brand name duuo. That product will be for hosts using homesharing platforms such as Airbnb, HomeAway […]
By Jason Contant | July 18, 2018
Canadian insurance brokerages have already made inquiries to an Estonian-based insurance company that is working on a revolutionary blockchain distribution model. Black Insurance is setting its sights on cutting out the “intermediaries” in the insurance sales process – the insurance companies. “Usually when people are speaking about intermediaries in insurance, automatically they think of brokers […]
By David Gambrill | July 17, 2018
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