I just got back from CES 2017 and everyone was talking about autonomous vehicles. Regardless of whether you were a traditional technology maker or automaker, if you attended CES, you had autonomous vehicle tech to announce. Twelve months ago at…Read more →
Voice recognition technology was the star at this year’s International Consumer Electronics Show (CES) – not as a standalone product, but as a high-tech feature in dozens of other gadgets. Integrations with Apple’s Siri, Amazon’s Alexa and Google Assistant were…Read more →
It’s that time of year again when we start getting tactical about 2017. Business strategies have been formulated and approved, and now it’s time to focus on execution. As usual, the new year starts with the world’s largest technology conference,…Read more →
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…Read more →
In mid-November, the Canadian Council of Insurance Regulators (CCIR) made an historic announcement – it would approve an electronic option for proof of automobile insurance (eSlips) across Canada in the first half of 2017. In other words, early next year…Read more →
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…Read more →
As the marketplace becomes ever more digital, it becomes increasingly easy for consumers to engage in comparison-shopping. This is true for a wide range of products and services. It is certainly true when it comes to many types of insurance.…Read more →
InsurTech (Insurance Technology) is a hot topic in the insurance community these days. But how significant is the digital trend and how urgently do we have to respond? The recent Insurance-Canada.ca Executive Forum (ICEF2016) provided insight. What do we do…Read more →
The so-called “age of the customer” we live in is driven by several factors, especially technologies such as smartphones and mobile apps that put more control and choice into customers’ hands than ever before. Forrester Research has dubbed this phenomenon…Read more →
Recently, I read a post from CB Insights suggesting that Managing General Agents (MGAs) may become significant players in the digital insurance world. After cleaning my glasses to make sure I was reading correctly, I reflected a bit, and I…Read more →
This summer, the threat of a labour stoppage at Canada Post has caused many people and institutions to reconsider just how crucial mail delivery is to their business. In the insurance industry, we have already taken great strides to minimize…Read more →
After months of uber anticipation, FSCO has approved a new fleet auto policy, from Intact, for private passenger vehicles engaged in UberX activities. The announcement comes days after Intact launched a similar product in Alberta. Background UberX is a Web-based…Read more →
This week, the Ontario amended Regulation 664 to expand the definition of a fleet to accommodate ride-sharing services like Uber. The change opens the door for insurers to offer policies to drivers of vehicles for hire using an online app.
The regulation amendment expands the fleet definition to include vehicles available for hire through a common online-enabled application or system for the pre-arrangement of transportation. The vehicle owner or lessee is to be named insured under an auto insurance contract. The regulation change will make it easier for Ontario businesses to insure a group of privately owned vehicles under one insurance policy as a “fleet” when they are available for hire using an online app.
FSCO has already approved a fleet policy proposed by Intact Insurance Company. The Intact policy provides blanket fleet coverage under a standard automobile owner’s policy (OAP 1) for private passenger automobiles used in the transportation of paying passengers who utilize Uber.
The Intact fleet policy does not provide coverage when the driver is not logged onto the Uber online app. Coverage under the personal owner’s policy for the automobile is applicable.
FSCO also approved the use of an electronic insurance card for use in connection with ride sharing. The electronic insurance card will permit ride share drivers who are covered under the Intact policy the option to provide evidence of insurance electronically using an online-enabled app (e.g., to law enforcement officials).Read more →
We often marvel at the speed of technological advancement, but every so often one development stands out. Consider that just eight years after Steve Jobs introduced the App Store, mobile apps may become much less prevalent than today. Their replacement:…Read more →