INSURANCE NEWS
FINDING THE SWEET SPOT Despite the uptick in virtual claims amid the COVID-19 pandemic, consumers still crave human interaction in their claims interactions, according to an April 2021 report from LexisNexis Risk Solutions. “No matter how great the technology is, consumers still want human touch when they need it,” reads the company’s whitepaper. “Consumers appreciate […]
INSURANCE NEWS
THE GECKO GETS THINKIN’ According to a release, Geico is starting to use Tractable AI review photo estimating to double check estimates. Todd Combs, Geico’s CEO, says that the new solution will only heighten the customer’s experience. “GEICO customers know us for our speed of service and value,” Combs said. “Tractable’s artificial intelligence solution delivers […]
Claims Communication: Surveys finds Canadian millennials prefer texting with insurers
Toronto, Ontario — A new survey found Canadian millennials, people aged 25 to 45 prefer texting with their insurance providers for certain parts of the claims process and view texting as an asset in regards to selecting an insurance company. The study conducted by Hi Marley, found that 56 percent of Millennials and 52 percent of […]
Holy Hail: Calgary hailstorm caused $247 million in insured damage, according to estimates
Calgary, Alberta — The hail storm that hit Calgary over a month ago caused $247 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). On July 2, Calgary experienced extensive flooding of streets, underpasses, and parking lots. There were also reports of a damaged gas line, downed trees, and sewer […]
Funnel Cloud Fees: Barrie tornado losses may eclipse those of 2014 Angus tornado, expert says
Barrie, Ontario — Although it is still much too early to make a true estimate of the damages caused by the Barrie tornado, one expert predicts the losses from the July 15 event could significantly exceed those from the 2014 Angus twister. Glenn McGillivray, the managing director of the Institute for Catastrophic Loss Reduction told […]
A Different Type of Twisted: Collision repair shops deal with aftermath of Barrie, Ont. tornado
Barrie, Ontario — Last Thursday a tornado swept through Barrie, destroying homes, vehicles and virtually anything standing in its five kilometre long and up to 100 metres wide path. Since then, collision repair shops such as CSN Zenetec and Fix Auto Barrie North have been dealing with the aftermath. “The claims started coming in the day […]
CAMP comes to Calgary: IBC deploys Virtual Community Assistance Mobile Pavilion to assist residents of Southern Alberta
Calgary, Alberta — Following the hailstorm in Calgary and the surrounding area, the Insurance Bureau of Canada (IBC) has deployed its Virtual Community Assistance Mobile Pavilion (CAMP) to assist affected residents. IBC deploys CAMP to disaster sites that have significant insured damage. Canadians who are suddenly forced to cope with a damaging event – such […]
Gore Goes: Gore Mutual announces new operating model for auto insurance in Ontario
Cambridge, Ontario — Gore Mutual Insurance Company announced its new operating model for Ontario personal lines automobile and Individually Rated Commercial Auto (IRCA) insurance, on Thursday. The mutual insurer has taken the first step in its strategic transformation with the launch of its national contact centre, designed to provide customers with faster and more efficient […]
Cheque Yourself: More than half of Canadians may have missed out on auto insurance discounts amid the pandemic
Toronto, Ontario — Although many Canadians have been driving less throughout the pandemic, more than half did not reach out to their insurer to inquire about discounts or changes to their policies, according to a new survey by RateHub.ca. Only 38 percent of the 1, 300 Canadians who were surveyed said they reached out to […]
Allstate Aboard: Ryan Michel appointed Chair of Board for Insurance Bureau of Canada
Toronto, Ontario — The Insurance Bureau of Canada (IBC) recently elected Ryan Michel, president and CEO of Allstate Insurance Company of Canada as the Chair of its Board of Directors. “Through IBC, we will continue to engage governments and stakeholders to turn challenges into opportunities to benefit Canadian consumers. I look forward to continuing this […]
