Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Canadian Brokers understand that Contingent Profit Commissions (CPC) are a device that insurance companies use to reward good front-line underwriting, volume of premium business placed and some good claims luck. In simple terms, the better your loss experience and the…
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In a recent article, Traci Boland, chair of the Insurance Brokers Association of Ontario, commented that ‘the sophistication of technology for rating overland flood could conceivably lead to smaller insurers ending up with a disproportionate share of flood risks’. As…
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The market for property and casualty (P&C) brokerages continues to be intense. Books of business are attracting prices from 3.5x to 5.0x commissions – and even more for online business. So, are conditions right to start seeing more management buy-outs?…
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The ubiquity of the internet and the ease of access thereto has given consumers more informed buying power and instantaneous ability to satisfy their requirements for goods and services. Organizations that can meet and likely exceed consumer expectations will dominate…
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Not everyone has embraced telematics. It was reported the other day that at least one insurer has been told by its brokerage force that their customers are ‘not fans of telematics’. Carol Jardine, chief strategy office for Wawanesa, is quoted…
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The insurance industry is pouring billions of dollars into disruptive InsurTech development in the hopes of meeting rapidly changing customer expectations that have been moulded by the likes of Amazon, Apple, and Google. And, as these companies continue to change…
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When it comes to the valuation of insurance brokerages, is the going rate driven up by the presence of insurance companies as potential purchasers? Certainly this is the feeling of many within the brokerage community. Just because many people believe…
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A recent press release from a B.C. brokerage was entitled, Automated online office insurance could make brokers redundant. The press release itself dealt with the introduction of an automated system that allows owners of small businesses to buy and download…
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As technology evolves quickly, the terminology to describe it – and the ways in which we implement it – evolves even faster. Remember when the insurance industry first discussed “digital strategies,” only to be told shortly thereafter that because all…
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Whenever a new technology emerges, there is always the question as to whether it will assist or threaten existing industries. With the surge in activity from fintechs, the property and casualty insurance industry is facing this question on a number…
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“Get a horse!” people would yell in the early 1900’s as motorized vehicles were starting to gain in popularity. The majority of the population would not believe or could not understand that the trusted horse used for over 1,000 years…
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Without a crystal ball it’s hard to know whether any technological innovation will live up to the early hype. Such is the case with blockchain technology. While some insurance industry analysts see great promise in this emerging technology, others have…
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ICLR has just released its latest five-year plan, which sets out the Institute’s research and engagement strategy for the period 2017 through 2021. Over the plan period, ICLR will continue to focus on providing research that supports action by public…
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Since launching this blog in 2014, I’ve written a great deal about statistics and market research, particularly related to evolving insurance consumers, especially those of the millennial generation (those born between 1977 and 2004) and how our industry can leverage…
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