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 →
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. […]
The post Another Sneak Peek at Cyberrisk and -insurance appeared first on Insurance Industry.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 →