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 →
In two weeks, I will be at the IASA Annual Conference in San Antonio, Texas. I’ll be on Panel 674, talking about “True Customer Centricity” (and our 2015 study, “Capturing hearts, minds and market share“), but of course will also be discussing our new study, “Cyber and beyond”, which will be published during the conference. […]Read more →
“Conversation about the weather is the last refuge of the unimaginative.” – Oscar Wilde Clearly, Mr. Wilde – expert as he was at crafting witticisms – never spent any time in an insurance office. Our industry has a longstanding history…Read more →
At Amplify 2016, I attended several insurance-focused sessions, including hosting an industry dinner. I came away from the conference with three key observations: Insurers are eager to use mobile to initiate and sustain industry-leading digital customer engagement. The trick for insurers is seamlessly merging a customer‘s various digital and physical interactions into one unified and […]
The post How to Create Industry-Leading Digital Customer Engagement appeared first on Insurance Industry.Read more →
Your professional development has never been more cutting-edge. Consider the fascinating research of Qui Trieu, manager of personal insurance at Perth Insurance, a wholly owned subsidiary of Economical Insurance. Qui (pronounced as ‘key’) is currently a candidate in the Insurance…Read more →
Economical Insurance has now launched its direct digital brand, Sonnet. I was privileged to attend a meeting with the senior executive team at Economical to preview Sonnet’s product offering. Based on what I was shown, this new product offering could…Read more →
The release of our upcoming study on the risks of digital interconnectedness, a.k.a. cyberrisks, is just 5 weeks away; time to give our readers a first peek at some of the data and/or conclusions. For the study, we surveyed 800 insurers and 1,000 non-insurance companies, Continue readingRead more →
Just how much has the sharing, or gig economy changed our world? A cursory Google search on the topic will usually turn up this common description: The world’s largest taxi firm, Uber, owns no cars. The world’s most valuable retailer,…Read more →
Three years ago, I wrote an article about the status of electronic insurance cards. Despite the fact that smartphones, tablets and other technological gadgets are now part of everyday life, providing proof of auto insurance coverage is like a nos…Read more →
For our Random Thoughts post today, I thought I’d summarize interesting reads my colleagues at IBV published over the last year (and some of mine, too ). Let’s start cross-industry: About a year ago, Carolyn Baird showed the “Myths, exaggerations and uncomfortable truths” about millennials Continue readingRead more →
For those who are not sure what a blockchain is: simply put, it is a distributed electronic ledger based on cryptographic principles. While is was developed as the ledger for the cryptocurrency Bitcoin, it is really separate from any currency – for example, it can Continue readingRead more →