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SEPTEMBER 6, 2016

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INSURANCE INDUSTRY NEWS

Half of Drivers Adopt UBI When Offered
A new LexisNexis Risk Solutions study on usage-based insurance (UBI) found that a surprising number of U.S. drivers (50 percent) report enrolling in pay-as-you-drive policies when offered, yet few are given the choice, revealing a significant market-building opportunity for auto insurers. Read more.

Telematics Must Be Engaging, Easy To Use
Having identified usage-based insurance as a disruptive concept, Nationwide Insurance has determined that consumer demand requires that the UBI experience is engaging and easy to use. Read more.

Vericlaim Canada acquires RGM Claims Services
Vericlaim Canada has acquired the assets of RGM Claims Services, Inc., a licensed, independent adjusting company based in Mississauga, specializing in municipal, automobile, product and environmental liability, as well as property, casualty and cargo losses. Read more.

Customer Engagement at the Digital Edge: SMA
Strategy Meets Action has released a research report which explores the new digital ecosystems and participants emerging to disrupt customer engagement in insurance. Read more.

‘Intelligent’ Cyber Insurance Launches in Canada
The Honourable David Peterson, Chairman of Cassels Brock & Blackwell, and Governor Tom Ridge, the first U.S. Secretary of Homeland Security, have announced the formal launch of Ridge Canada Cyber Solutions, offering best-in-class informed cybersecurity assessments and bespoke cyber insurance products. Read more.

The Co-operators Announces New CEO
The Co-operators Group has announced the appointment of Rob Wesseling as President and Chief Executive Officer, effective December 1, 2016 Read more.

Canada's Mobile Economy Is Maturing
“Mobile first” may describe the design of brand campaigns, but many have yet to master mobile marketing effectiveness, especially in display advertising formats, according to a new eMarketer report. Read more.

ICBC Files 2016 Basic Rate Application
ICBC has submitted its 2016 basic rate application with the British Columbia Utilities Commission asking for a 4.9 per cent increase to basic insurance rates – lower than last year's 5.5 per cent increase. Read more.

B.C. Tackles Distracted Driving
With tougher penalties now in effect, ICBC, police and the B.C. government are teaming up to launch a month-long campaign to continue to combat distracted driving. Read more.

Bike Thefts On The Rise, Square One Warns
The total number of bike thefts in major cities across Canada increased 31% between 2014 and 2015, according to a recent analysis by Square One. Read more.

IBC Reminds Students To Buy Tenant Insurance
As students across the country get ready for university and college, Insurance Bureau of Canada is reminding them of an important item that's often overlooked: tenant insurance. Read more.

September School Zone Safety: SGI
With classes back in session, school zone safety is the traffic safety spotlight for the month of September; police will be watching for traffic violations in and around school zones. Read more.

GoodLife Fitness joins Manulife Vitality
GoodLife Fitness is joining the Manulife Vitality program in Canada as the exclusive fitness club rewards provider. The Vitality program rewards members for making healthy choices and is scheduled to launch later this year. Read more.

What's going through the Intersection
of insurance and technology?

If Digital Is Urgent, How Do We Play It?
InsurTech (Insurance Technology) is a hot topic in the insurance community these days. But how significant is this trend and how urgently do we have to respond?
Read more.

ICEF2016: “Turning Insurance Outside-In”
Held Aug. 30 at the Toronto Sheraton Centre

Our 4th annual Executive Forum vividly illustrated the dynamic changes occurring in the Canadian insurance industry:
• Changing the culture at Aviva;
• Launching Sonnet at Economical;
• Selling with psychology at Kanetix;
• The rise of the Millennial consumer;
• Insuring in new ways at Slice;
• The digital customer experience;
• Success factors for digital engagement;
• and much more.

Thanks to the many speakers and sponsors who provided insights, and to the delegates for adding to the discussion.

What did forum attendees have to say? “I really enjoyed the event and tempo. Very good learning and networking environment. Great job all the way around.”

Join us in the spring for our annual Technology Conference and Broker Forum.

From Doug

Even as an observer of – and participant in – the insurance industry's increasingly rapid adoption of technology, little has prepared me for the veritable explosion that we are in today. Change was front and centre at last week's Executive Forum. I was amazed by the focus on culture within organizations – the leadership emphasis on getting everyone involved in creating better products and services, customer experiences, and workplaces.

Doug Grant, CIP
Partner
Insurance-Canada.ca

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