Digital Insurance Pint: Recent Episodes
Digital Insurance Pint
Season 8 – Episode 8: Stephen Billyard Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode of the Digital Insurance Pint podcast, the DIPP crew is joined by Stephen Billyard, CEO of Billyard Insurance Group They discuss Stephen’s journey in the insurance industry, the challenges of rapid growth, and the integration of technology and AI in insurance operations. Stephen shares insights on building a franchise model, managing underwriting processes, and leveraging IBM Watson for innovative solutions in the insurance sector.
In this conversation, the speakers discuss the transition from outdated database systems to modern SQL databases, the integration of AI in brokerage operations, and the challenges and opportunities presented by technology adoption. They reflect on the franchise model’s successes and challenges, the importance of user experience in managing change, and the future landscape of insurance brokerage in light of AI advancements.
The conversation also touches on the potential for virtual agents to handle customer interactions and the regulatory implications of AI in the industry.
The post Season 8 – Episode 8: Stephen Billyard appeared first on Digital Insurance Pint.
Season 8 – Episode 7: Panda7 & Noel Feghali Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode of the Digital Insurance Point podcast, the DIPP crew discuss the evolution of the insurance industry, focusing on the innovative approach taken by Noel Fegali, CEO of Panda7. The conversation covers Noel’s background, the inception of Panda7, the importance of user experience in digital insurance, and the unique challenges and opportunities present in the Quebec insurance market.
The episode also explores the growth strategy of Panda7 and the legal landscape surrounding digital insurance sales in Quebec. In this conversation, Noel Feghali discusses the evolution of online insurance sales, the importance of digital marketing strategies, and the integration of AI in the insurance distribution process. He emphasizes the need for a strong tech stack and a well-rounded team to drive innovation in the industry.
Additionally, he shares insights from his experience on the CSIO board and the opportunities for change within the organization.
The post Season 8 – Episode 7: Panda7 & Noel Feghali appeared first on Digital Insurance Pint.
Season 8 – Episode 6: Gaya AI Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode of the Digital Insurance Pint podcast, host Tom Reid and co-hosts Jeff Roy and Adam Mitchell (Steve was away) welcome Carl Ziade, co-founder and CEO of Gaya. The conversation delves into Carl’s journey from Lebanon to Silicon Valley, the evolution of Gaya from a car-sharing platform to an insurance technology solution, and the challenges faced by insurance agents in the U.S. The discussion also covers the role of AI in Gaya’s operations, client feedback, and the company’s aspirations to become a major player in the insurance technology space.
In this conversation, the group discusses the transformative impact of Gaya on the insurance industry, focusing on efficiency, pricing strategies, and future innovations. They explore how Gaya significantly reduces the time agents spend on quoting, the value it brings to agencies, and its potential expansion into the Canadian market. The discussion also highlights the importance of pricing in relation to the value created for users and the future capabilities of Gaya as a smart automation tool.
The post Season 8 – Episode 6: Gaya AI appeared first on Digital Insurance Pint.
Season 8 – Episode 5: TruflaTechnology Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode of the Digital Insurance Point podcast, The DIPP crew and guests discuss the evolving landscape of insurance technology, focusing on Trufla’s innovative products designed to enhance broker efficiency and client retention. The conversation delves into the challenges brokers face with renewal processes, the role of AI in improving operations, and the importance of trust in adopting new technologies. The guests share insights on market dynamics, the integration of APIs, and the future of insurance distribution, emphasizing the need for brokers to leverage technology to remain competitive.
In this conversation, Sherif Gemayel discusses the integration of AI in brokerage operations, the competitive landscape between large and small brokers, and the role of associations in supporting brokers. He emphasizes the importance of data security and the need for brokers to adapt to the rapidly changing AI landscape. Predictions for the future of AI in the brokerage industry highlight the potential for new entrants to disrupt the market and the necessity for brokers to protect their data.
The post Season 8 – Episode 5: TruflaTechnology appeared first on Digital Insurance Pint.
Season 8 – Episode 4: Koios Intelligence Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode of the Digital Insurance Point podcast, the DIPP crew and guests discuss the evolution and application of AI in the insurance industry, focusing on Koios Intelligence. Mohamed Hanini, CEO of Koios, shares insights into the company’s journey, the unique aspects of their AI technology, and how it is transforming the brokerage experience. The conversation highlights real-world applications, the importance of customer experience, and the future of AI in insurance.
Takeaways
- Mohamed Hanini has over 20 years of experience in machine learning and statistics.
- The company focuses on B2B solutions, enhancing broker-client interactions.
- AI can significantly reduce the time brokers spend on data collection.
- Koios’ virtual assistant can handle complex queries while ensuring compliance.
- The adoption of AI in insurance is not a future trend but a current necessity.
- Customers expect immediate responses and streamlined processes from their brokers.
- Koios has launched over 100 applications in the market, demonstrating its effectiveness.
- The future of insurance will heavily rely on AI and automation to meet customer demands. The post Season 8 – Episode 4: Koios Intelligence appeared first on Digital Insurance Pint.
Season 8 – Episode 3: Donna.AI Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode of the Digital Insurance Pint podcast, the DIPP crew discuss the role of artificial intelligence in the insurance industry, focusing on Donna AI, a platform designed to help insurance agencies grow their revenue and improve customer retention. The conversation covers the importance of clean data, predictive analytics, and sentiment analysis in enhancing agency performance. The guests share insights on the integration of Donna AI with existing systems, the significance of customer feedback, and the future developments planned for the platform.
The post Season 8 – Episode 3: Donna.AI appeared first on Digital Insurance Pint.
Season 8 – Episode 2: DIPP At The Crossroads Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode, the hosts discuss the recent mergers and partnerships in the insurance industry. Jeff Roy announces the merger of Excalibur with McFarland Rowlands, Steve Earle reveals a partnership with Southampton Financial, and Adam Mitchell hints at a future partnership. The decision to sell or partner with another company is driven by factors such as size and scale, access to markets and underwriters, HR resources, and technology. Each CEO chose a partner that aligned with their specific needs and goals. The teams were informed about the transactions and were reassured about the future of the business.
The conversation explores the decision-making process and the impact of partnerships and acquisitions in the insurance industry. The participants discuss the importance of transparency and communication when making these decisions and the opportunities for growth and advancement that come with them. They also touch on the concept of independence and how it can be maintained even after entering into partnerships. The conversation concludes with a discussion on feedback and the potential reactions from others in the industry.
The post Season 8 – Episode 2: DIPP At The Crossroads appeared first on Digital Insurance Pint.
Season 8 – Episode 1: AI in Insurance Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this conversation, the DIPP crew discuss the topic of AI in insurance. They explore the different levels of difficulty and technology tools available, such as agency management systems, CRM, robotic process automation, digital virtual assistants, and virtual assistants.
They also emphasize the importance of evaluating tech solutions based on their ability to improve productivity, efficiency, key customer metrics, and customer experience.
The conversation highlights the need for brokers to embrace AI and experiment with different tools to stay competitive in the evolving insurance landscape.
The conversation explores the potential of AI in the insurance industry, focusing on the use of AI in claims processing and customer service. The participants discuss the benefits of AI in automating and streamlining processes, improving customer experience, and increasing efficiency.
They also touch on the challenges and concerns surrounding AI, such as data privacy and security. The conversation concludes with a discussion on the future of AI in the insurance industry and the need for brokers to adapt and embrace AI technologies.
The post Season 8 – Episode 1: AI in Insurance appeared first on Digital Insurance Pint.
Season 7 – Episode 10: Existential Threats Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android This is take 2 on “what keeps you up at night?”. The DIPP crew discusses major industry issues including the rise of vehicle theft, OPCF 49, broker cancellation as a way to manage carrier profitability, embedded insurance, connectivity and technology progress. If that wasn’t dark enough for you, the team also discusses potential existential threats such as earthquake and banking collapse.
Takeaways
- The endorsement debate raises questions about the effectiveness and fairness of endorsing certain insurance products.
- Embedded insurance in vehicles and other products presents opportunities for convenience and cost savings, but also raises concerns about consumer awareness and bypassing traditional distribution channels.
- Progress has been made in improving connectivity and technology in the insurance industry, but enforcement of standards and proper implementation remain key challenges.
- Existential threats like earthquake and banking collapse could have significant impacts on the insurance industry and brokers need to be aware of these risks. The post Season 7 – Episode 10: Existential Threats appeared first on Digital Insurance Pint.
Season 7 – Episode 9 Shawn Antao – EY Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode, the hosts interview Sean Antao, a partner at EY and leader of the Insurance Technology Consulting arm. They discuss various topics related to Guidewire implementations and broker connectivity. The conversation covers the dominance of Guidewire in the Canadian market, factors affecting the cost of implementations, and the challenges in creating broker connectivity. They also touch on the standardization of API connections, the role of system integrators like EY, and the importance of consistency in connectivity.
Overall, the episode provides insights into the world of Guidewire and its impact on the insurance industry. In this conversation, the participants discuss various topics related to insurance technology, including the costs from the BMS, challenges for BMS vendors, the importance of consistency in APIs, implementing Guidewire Cloud, the impact of customizations, the importance of broker input, and the future of insurance technology. They also touch on AI and its potential for straight through processing and the development of AI chatbots and virtual assistants.
Takeaways
- Guidewire is the dominant admin system in the Canadian insurance market, with a market share of 85-90% of direct written premium for P&C insurers.
- The cost of Guidewire implementations varies depending on the size and scale of the organization, with larger carriers typically investing more due to the complexity and scalability of their systems.
- Creating broker connectivity in Guidewire implementations can be challenging, but standardization of APIs and integration frameworks can help streamline the process.
- The move to Guidewire Cloud and the adoption of an integration gateway allows for more efficient and standardized connectivity across carriers.
- Collaboration and sharing of APIs and integration assets can help accelerate the development of broker connectivity and improve industry-wide standards.
- Maintaining multiple versions of APIs is a challenge for BMS vendors, and achieving consistency between different carriers is crucial. The post Season 7 – Episode 9 Shawn Antao – EY appeared first on Digital Insurance Pint.
Season 7 – Episode 8 Adam Hare Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode, Adam Hare, CEO of Petley-Hare Limited, shares his journey in the insurance industry and the rebranding process his company went through. The conversation covers topics such as the impact of branding, the cancellation of carrier contracts, and the process of rebranding a brokerage. Adam emphasizes the importance of staying true to your brand and making tough decisions when necessary.
Adam discusses his journey of starting an agency, creating a meaningful brand, and the lessons he has learned as an entrepreneur. He shares his accomplishments, mistakes, and the importance of reinvesting in your business. Adam also emphasizes the need for collaboration in the industry and the desire to change the perception of the insurance industry.
Takeaways
- Branding plays a crucial role in the insurance industry, helping brokers differentiate themselves and attract the right customers.
- Rebranding can be a challenging process, but it allows brokers to align their brand with their values and target audience.
- Choosing the right carrier partners is essential for a brokerage’s success, and sometimes it’s necessary to cancel contracts with underperforming carriers.
- The rebranding process requires careful planning, understanding of the target audience, and a clear vision of the company’s values and messaging.
- Collaboration and working together can lead to better results in the insurance industry.
- Creating a meaningful brand goes beyond just a logo and involves understanding your team and what makes them tick.
- Mistakes are a part of entrepreneurship, and it’s important to learn from them and pivot.
- Reinvesting in your business is crucial for growth and success.
- The insurance industry needs to change its perception and be seen as something to be proud of The post Season 7 – Episode 8 Adam Hare appeared first on Digital Insurance Pint.
Season 7 – Episode 7: Greg Purdy Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android Greg Purdy, CEO of Rival, joins the DIPP crew to discuss his background in insurance and software, his decision to join Rival, and the company’s focus on changing the broker automation process. Rival’s unique competitive advantage lies in its active engine that uses AI to optimize workflows and provide a more intuitive user experience. The company’s RPM platform and marketplace aim to connect data exchange and offer third-party products seamlessly. Rival is also focused on making the transition to their platform easier for brokers and plans to use AI to transform broker workflows and provide more efficient processes.
Takeaways
- Rival is focused on changing the broker automation process and providing a more intuitive user experience.
- The company’s RPM platform and marketplace aim to connect data exchange and offer third-party products seamlessly.
- Rival plans to use AI to optimize workflows, provide more efficient processes, and transform broker workflows.
- The transition to Rival’s platform will be phased in over time, allowing for a smoother and less disruptive experience for brokers. The post Season 7 – Episode 7: Greg Purdy appeared first on Digital Insurance Pint.
Season 7 – Episode 6: Tracy Riley Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this conversation, the DIPP crew are joined by Tracy Riley, Chief Insurance and Technology Officer at Wawanesa Insurance. They discuss the importance of real-time connectivity, Wawanesa’s API sharing initiative, the significance of mutuality in the company, and the decision to opt out of aggregators. Tracy also shares insights into the responsible use of AI in underwriting and the disbanding of the Digital Broker Council.
Overall, the conversation highlights Wawanesa’s commitment to improving the customer experience and supporting brokers in the insurance industry. Finally, Tracy discusses the role of APIs in connectivity and ecosystems, future technology investments, and supporting the broker channel.
Takeaways
- Real-time connectivity is crucial for improving the customer experience and reducing friction in the insurance process.
- Wawanesa’s API sharing initiative demonstrates their commitment to making the industry better and supporting brokers.
- The concept of mutuality is an important value proposition for Wawanesa, guiding their decisions and actions.
- The responsible use of AI in underwriting requires careful consideration of potential biases and transparency in decision-making.
- Wawanesa’s decision to opt out of aggregators is driven by their focus on providing value through broker advice and personalized service.
- Wawanesa is focused on streamlining processes, enhancing service levels, and implementing AI to improve customer experience.
- Wawanesa is committed to supporting the broker channel and providing them with the tools and resources they need to succeed. The post Season 7 – Episode 6: Tracy Riley appeared first on Digital Insurance Pint.
Season 7 – Episode 5: Ema Roloff Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode, Emma Roloff, co-founder of Roloff Consulting, joins the podcast to discuss digital literacy and the challenges and opportunities in the insurance industry. Emma emphasizes the importance of understanding key technologies such as AI, cloud computing, and IoT. She also highlights the need for CEOs to focus on people and process when undergoing digital transformation. Emma shares insights on selling and buying differently, with a focus on education-focused sales and the shift towards online research and self-education by buyers. Overall, Emma emphasizes the importance of a holistic approach to technology adoption and the need for vendors to prioritize customer success.
The conversation explores the impact of short-form video on search and trust and the importance of showing up where buyers are. Ultimately, the conversation emphasizes the significance of people and relationships in the insurance industry.
Takeaways
- Understanding key technologies such as AI, cloud computing, and IoT is crucial for digital literacy in the insurance industry.
- Digital transformation should start with a focus on people and process, with technology as an enabler.
- Buyers are increasingly relying on online research and self-education, so vendors need to focus on education-focused sales and building trust.
- The insurance industry needs to shift towards a holistic approach to technology adoption and prioritize customer success.
- Selling and buying differently requires a shift towards education-focused sales and providing value throughout the buyer’s journey.
- The insurance industry is inherently about people and relationships, and technology should be implemented in a way that supports these core aspects. The post Season 7 – Episode 5: Ema Roloff appeared first on Digital Insurance Pint.
Season 7 – Episode 4: Benchmarking with Carey Wallace Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode, host Tom Reid and his colleagues Steve Earle, Adam Mitchell, and Jeff Roy are joined by Carey Wallace, founder of Agency Focus. The episode focuses on key performance indicators (KPIs), metric tracking, the impact of compensation structure, and the efficiency of Canadian brokerages.
Carey shares insights from her experience as a fractional CFO and consultant for independent insurance agents, highlighting the importance of growth, profitability, and customer retention in agency performance. The conversation covers various topics related to the insurance industry, including data entry and technology, specialization, differences between personal lines and commercial lines, revenue metrics and contingencies, growth and profitability in 2023, inflation and premiums, challenges with contingencies and carrier relationships, leading and lagging indicators, and the importance of knowing your numbers.
Takeaways
- Key performance indicators (KPIs) such as growth, revenue retention, profitability, policies per customer, and revenue per employee are crucial for measuring agency performance.
- Tracking metrics and implementing them in a dashboard can be challenging, but using customer relationship management (CRM) tools and third-party tools like Donna by ARIUS Analytics can help agencies monitor and improve their performance.
- Compensation structure is an important factor in agency profitability, and agencies should aim to allocate around 47% of their total revenue to compensation.
- The size of an agency can impact its metrics, with larger agencies having more capacity for automation and technology investments.
- The insurance industry is seeing a rise in startups, facilitated by aggregator systems and alliances, but not all startups are created equal. Data entry is a significant aspect of the insurance industry, and technology, such as RPA and virtual assistants, is being utilized to minimize the manual work involved.
- There are differences in metrics and benchmarks between personal lines and commercial lines, with the complexity and size of accounts affecting the workload and efficiency.
- Specialization can drive efficiency and profitability, but it also comes with risks, such as over-reliance on specific carriers.
- Understanding leading and lagging indicators is crucial for managing a business effectively, as lagging indicators, such as financial statements, provide historical information, while leading indicators, such as new business metrics, help predict future performance.
- Knowing and analyzing key numbers and metrics is essential for making informed decisions and improving the performance of an insurance agency. The post Season 7 – Episode 4: Benchmarking with Carey Wallace appeared first on Digital Insurance Pint.
Season 7 – Episode 3: Benchmarking with Brett Boadway Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode, the DIPP crew discuss benchmarking in the insurance industry with IBAO COO Brett Boadway. They cover topics such as metrics for sales, measuring efficiency, customer sentiment, and colleague satisfaction. The conversation explores various metrics used in the insurance industry and how they are measured. Key criteria include employee satisfaction, carrier relationships, transaction costs, tools and systems for measurement, lagging vs leading metrics, and understanding good metrics. The conversation explores the importance of benchmarking and increasing participation in benchmarking programs. It discusses the challenges in getting brokers to participate and the current participation numbers.
The potential for expanding benchmarking nationwide is also considered. The benefits of benchmarking and collaboration are highlighted, emphasizing the value of comparing data and staying ahead of industry trends. The conversation concludes with a call to action for brokers and insurance company personnel to participate in benchmarking programs.
Takeaways
- Customer retention rate and new business growth are important metrics for sales.
- Efficiency can be measured by the number of policies managed per staff member and sales cycle time.
- Net Promoter Score (NPS) is a common metric for measuring customer sentiment.
- Employee Net Promoter Score (ENPS) and surveys from Great Place to Work can be used to measure colleague satisfaction. Benchmarking is crucial for brokers to compare their performance and identify areas for improvement.
- Increasing participation in benchmarking programs is essential to ensure the validity and reliability of the data.
- Challenges in getting brokers to participate include the time it takes for new initiatives to gain traction and the need for brokers to pay to access benchmarking data.
- Expanding benchmarking programs nationwide would provide a more comprehensive view of the industry and enable better comparisons. The post Season 7 – Episode 3: Benchmarking with Brett Boadway appeared first on Digital Insurance Pint.
Season 7 – Episode 2: CPC – What Do Brokers Want? Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android The DIPP crew explore the evolution of contingent profit sharing commissions (CPCs) in the insurance industry, as well as the factors that affect CPCs, such as loss ratio and retention, and the challenges brokers face in managing CPCs. They also explore the role of brokers in fraud prevention and the importance of data accuracy. The conversation highlights the impact of external factors, such as weather patterns and regulations, on CPCs. The participants discuss the need to reevaluate CPCs for the future and find ways to incentivize desired behaviors. They also touch on the changing landscape of insurance and the challenges brokers face in navigating the current environment. The conversation explores various challenges and considerations in the insurance industry, particularly related to property insurance rates, moving portfolios, penalties for insurers, contingent profit commissions (CPCs), challenges for smaller brokers, the trade-off between CPCs and efficiency, causes of insurer profitability issues and the need for continued adaptation and collaboration.
The post Season 7 – Episode 2: CPC – What Do Brokers Want? appeared first on Digital Insurance Pint.
Season 7 – Episode 1: Louis Gagnon Audio * Video * Audio * Video * SUBSCRIBE:* * iTunes * Google * Spotify * Android In this episode of the Digital Insurance Pint Podcast, host Tom Reid and his colleagues interview Louis Gagnon, CEO of Intact Financial Corp. They discuss various topics, including Louis Gagnon’s journey to becoming CEO, improving service in facility insurance, Intact’s strategy for CSIO standards-based APIs, balancing connectivity and aggregators, and the system switch and platform development at Intact. The conversation covers various themes related to the insurance industry, technology, customer experience, and challenges for the future. The complexity of technology and the need for constant improvement and security are highlighted. The benefits and usage of Client Center, as well as the evolving role of brokers, are discussed.
The comparison with other industries and the importance of service and connectivity are explored. The challenges of cyber security, social issues, and climate change are also addressed. In this conversation, Louis Gagnon discusses the need for brokers to adapt to the changes in theP & C industry and stay close to their market and people. He emphasizes the importance of investing in technology and creating a positive work environment to keep employees happy. The conversation concludes with a lighthearted discussion about having fun in the industry.
The post Season 7 – Episode 1: Louis Gagnon appeared first on Digital Insurance Pint.
It seems like every Canadian P & C carrier has recently completed or is in the process of moving their UW & claims functions to Guidewire. Why is that?
The post Season 6 – Special Episode – Guidewire appeared first on Digital Insurance Pint.
EDI (Electronic Data Exchange) has been a standard way of transmitting data in many industries since the early days of business automation. It's also a back bone of the insurance industry, with millions of policy transactions downloaded from carrier to broker each week.
The post Season 6 – Episode 10: EDI & eDocs appeared first on Digital Insurance Pint.
The DIPP crew has the express pleasure of welcoming Dario Battista - one of the OG "modern brokers" to the show.
The post Season 6 – Episode 9: Dario Battista appeared first on Digital Insurance Pint.
How can RPA - Robotic Process Automation cure the ills of the insurance industry? Listen to find out!
The post Season 6 – Episode 8: Quandri appeared first on Digital Insurance Pint.
What does independence mean for succession, client advocacy, staff attraction / retention, carrier relationships, business perpetuation and financial returns?
The post Season 6 – Episode 7: Broker Independence – So what? appeared first on Digital Insurance Pint.
It's an epic slugfest as we host Pete Tessier & Curt Wyatt from the Insurance Podcast on the show.
The post Season 6 – Episode 6: Battle of the Bands appeared first on Digital Insurance Pint.
The DIPP crew welcome Matthew Turack from CAA to the podcast in an effort to get to know this new (ish) market & to understand their growth philosophy.
The post Season 6 – Episode 5: Matthew Turack appeared first on Digital Insurance Pint.
Let's talk about the aggregators. The DIPP crew starts at the beginning - what are they? Why do they exist? How did they become important in the P & C landscape? Who are the major players?
The post Season 6 – Episode 4: Aggregators appeared first on Digital Insurance Pint.
Sherif tells us about an exciting government incentive program called CDAP that is available to brokers to help modernize their businesses and what Trufla is doing to help brokers take advantage of it.
The post Season 6 – Episode 3: Sherif Gemayel appeared first on Digital Insurance Pint.
Carol told us about her career journey through the insurance industry, including her best & worst memories. We discussed some of the major hurdles facing the industry, including Wawanesa's leading implementation of broker connectivity.
The post Season 6 – Episode 2: Carol Jardine appeared first on Digital Insurance Pint.
In this episode, the guys talk to CJ Nolan, President of Munn Insurance - Canadian broker of the year.
The post Season 6 – Episode 1: CJ Nolan appeared first on Digital Insurance Pint.
Season 5 – 2023 PredictionsWhat will 2023 bring to the Canadian P & C industry?
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Android We asked a panel of leading experts what they thought, rejected everything they said & came up with our own thoughts, including discussions on:
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The impact of high interest rates & a potential recession
- The pace of broker M & A
- The future of carrier portals
- The potential impact of the Alberta provincial election
- Mutual consolidation
- The Maple Leafs playoff chances
What do you think 2023 will bring? Leave us a comment and get your voice heard
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Season 5 – 2022 Year In ReviewTime to look back on the year that was 2022
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Android The guys tackle the impact of some of the most interesting (to them) events in the past year, including:
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The great return to the office
- Broker M & A
- Carrier implementations of Guidewire
- The hard market
- Facility Association
- The impact of inflation on the broker channel
Join Tom, Adam, Jeff & Steve for their (censored) take on the last 12 months.
Happy holidays from the DIPP crew to our followers & their families !
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In this episode, you'll hear the answers straight from Gregory Belton, Executive Chairman of HUB Ontario - and recipient of the Order of Canada (!!)
The post Season 5 – Episode 11 : Mergers & Aquisitions – (PART 7) appeared first on Digital Insurance Pint.
In this episode we interview Joe D'Annunzio, President of Brokerlink
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In this episode we interview Jamie Reid from Westland
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In this episode we interview Dave Partington from AJ Gallagher
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In this episode we interview Bruce Rabik, Rogers Insurance / CBN
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Selling the insurance brokerage in which you’ve put a lifetime of effort is no small step.
How do you know that you’ve got the right partner? The right price? The right place for your clients & staff?
The post Season 5 – Episode 6 : Mergers & Aquisitions – (PART 2) appeared first on Digital Insurance Pint.
Selling the insurance brokerage in which you’ve put a lifetime of effort is no small step. How do you know that you’ve got the right partner? The right price? The right place for your clients & staff?
The post Season 5 – Episode 5 : Mergers & Aquisitions – (PART 1) appeared first on Digital Insurance Pint.
Taylor outlines his two major challenges - culture shift & technology transformation. He tells us that Applied is working on becoming more humble and spending time listening to their customers. His leadership team is mostly new & now has a (Canadian !) Chief Customer Officer.
The post Season 5 – Episode 4: Applied appeared first on Digital Insurance Pint.
It’s been a little over a year since we last talked with Theo and he brings us up to speed on what’s happened since. We talk about connectivity, CSIO standards, and what learnings they’ve uncovered.
The post Season 5 – Episode 3: Acturis appeared first on Digital Insurance Pint.
In this episode, we talk with Don Forgeron (CEO) & James Fordham (CIO) from the Insurance Bureau of Canada (IBC).
The post Season 5 – Episode 2: IBC & DASH appeared first on Digital Insurance Pint.
In this episode, we are joined by Josh Reznick of Foxquilt. Josh is a former carrier exec who has made the leap into the insuretech world.
The post Season 5 – Episode 1: Foxquilt appeared first on Digital Insurance Pint.
How many insurance markets is the right number to have for a broker? The DIPP crew dig into this question to see where the balance lies & who should those markets be.
The post Season 4 – Episode 7: Power to the People (John Lennon) appeared first on Digital Insurance Pint.
In this episode, we talk about Jai's past, sports, mount everest and where IFS fits into the broker channel.
The post Season 4 – Episode 6: IFS Premium finance appeared first on Digital Insurance Pint.
One definition of an accelerant is: "A substance used to accelerate a process". In this episode, Jeff Radke, CEO of Accelerant discusses their foray into Canada and how they plan to accelerate that process.
The post Season 4 – Episode 5: Accelerant CEO Jeff Radke appeared first on Digital Insurance Pint.
In this episode, we dig into the unintended consequences of technology implementations.
Was the broker thrown out with the bathwater when insurance companies got rid of their legacy systems and went with Guidewire?
The post Season 4 – Episode 4: Blinded Me With Science (Thomas Dolby) appeared first on Digital Insurance Pint.
In this episode, the guys get into what the associations do and don't do, how it works and how it could work better.
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With multiples at an all time high and a raft of recent broker sales, the DIPP guys take a deep dive in broker M & A.
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The IBAO has been hard at work for the last year & a bit on a major strategic initiative for the broker channel - going paperless.
The post Season 4 – Episode 1: Going Paperless appeared first on Digital Insurance Pint.
Early on in our final episode of season three, Jeff calls Nigel Walsh “a legend in the industry.” He wasn’t kidding. Nigel is one of the top InsurTech influencers in the world and Google’s Managing Director of Insurance. Prior to that, he was a partner at Deloitte and involved in digital, InsurTech and technology transformation. He’s also co-host of the Insurtech Insider Podcast.
The post Season 3 – Episode 9: Google’s Nigel Walsh appeared first on Digital Insurance Pint.
Justin Thouin sits down with Tom, Jeff, Steve and Adam to enjoy a Garrison Pucker Up! sour and to discuss LowestRates.ca.
The post Season 3 – Episode 8: LowestRates.ca Co-Founder and CEO, Justin Thouin appeared first on Digital Insurance Pint.
Guess who's back, back again. Charlene's back, tell a friend! Sorry for the Eminem lyrics.
The post Season 3 – Episode 7: Charlene Ramdeo from Aviva appeared first on Digital Insurance Pint.
Season 3 – Episode 6: Sam “the BMS” ManSam Jazayeri is Producer Team Lead at PrimeService Insurance.
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Yep, we know that calling him Sam “the BMS” Man is corny (you can blame Jeff for that one), but it definitely fits. Sam is taking what he’s learned from PrimeService’s journey and using it to help other brokers through webinars and chats with folks like Tom, Jeff, Steve and Adam. Brokers helping brokers is something we can definitely get behind!
Changing BMSes is a lot of work and expensive. Tom calls it a traumatic experience … and he’s not wrong! Sam discusses some of his learnings along with the challenges and benefits PrimeService has seen. He shares advice for any other brokerages considering going down this path and stresses the importance of defining what you want to achieve. Knowing what you’re chasing and what you’re trying to fix are vital.
Pour yourself a pint, hit play and listen to what Sam “the BMS” Man has to say.
The post Season 3 – Episode 6: Sam “the BMS” Man appeared first on Digital Insurance Pint.
Facility Fiasco – Special EpisodeFacility is known as the "last resort" for customers who don't fit into a regular carrier's appetite.
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Android Facility is known as the “last resort” for customers who don’t fit into a regular carrier’s appetite. It’s also becoming a significant source of frustration and unnecessary expense for brokers. In this episode, the guys don their hip waders and dive into the murky waters of FA. This special episode covers a number of FA-related topics including:
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Are payments of 10% of GWP for processing, 12% of GEP for claims and a 6% service charge enough compensation for a decent client experience?
- Why is Intact taking the experience back in time by requiring paper and snail mail?
- Why can brokers no longer order UW reports at the point of sale? This makes it close to impossible to quote accurately.
- The extended (and unmet) service standards will cause more client billing difficulties and further exacerbate broker processing costs
Luckily, this episode isn’t just a “whine” and cheese affair, the guys also get down to targeted solutions and what can/should be done to turn the situation around.
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Season 3 – Episode 5: IBAO CEO, Colin SimpsonIBAO CEO, Colin Simpson – Come Together
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As CEO of the Insurance Brokers Association of Ontario (IBAO), Colin knows a thing or two about the importance of bringing people together to create alignment, drive change and build a better future for everyone.
In episode five of season three, Colin chats with Tom, Jeff, Steve and Adam about about the importance of brokers working together to create a collective voice and figure out where we to need to go as an industry. With more than 38,000 brokers across Canada, this is not an easy task, but Colin says he’s definitely up for the challenge of trying to figure out how to make it happen.
He also discusses technology, different IBAO initiatives including the Going Paperless project and a whole bunch more. Check out the podcast to hear everything he has to say!
The post Season 3 – Episode 5: IBAO CEO, Colin Simpson appeared first on Digital Insurance Pint.
Season 3 – Episode 4: IVANS CEO, Reid Holzworth IVANS CEO, Reid Holzworth – Creating opportunities to make a real difference
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A self-described serial entrepreneur and a highly regarded figure in the InsurTech space with significant experience in both broker and insurer distribution environments, Reid was the founder and CEO of TechCanary and is currently the CEO at IVANS Insurance. He talks about the work being done at IVANS and the opportunities we as an industry have to change the way insurance is transacted and insurance technology is connecting in general. He thinks that once we fix the connectivity issue it’s going to really open things up and allow people “to build some really cool shit.”
As an added bonus, Reid gives the DIPP crew a breakdown of all toys filling his massive garage. For any car enthusiasts out there, we strongly recommend keeping a cloth nearby to wipe up all the drool!
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Season 3 – Episode 3: Surex CEO, Lance Miller Surex CEO, Lance Miller – Quit letting old insurance thinking dominate the future
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After defending his love of Nickelback – yep, we know that’s hard to do – Lance talks about online aggregators and how Surex leverages them, digital marketing, relationships with carriers and why online quoting is a continual evolution. He also shares some valuable (but expensive) lessons that the brokerage has learned over the past several years.
It should come as no surprise to anyone that our industry is ripe for disruption, Lance thinks it’s time we all work together to get ahead of this and quit letting old insurance thinking dominate the future. Want to learn more? Watch the episode!
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Season 3 – Episode 2: Aviva’s Charlene RamdeoAviva's Charlene Ramdeo – Let's get digital, digital
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She surprises Jeff, Adam and Steve with some mystery shopping results for Excalibur Insurance, Mitchell & Whale and Cheep Insurance to see how long it takes each brokerage to get back to potential customers looking for quotes. She also weighs in on the speed of each company’s mobile site. Who do you think came out on top? Place your bets now!
The post Season 3 – Episode 2: Aviva’s Charlene Ramdeo appeared first on Digital Insurance Pint.
Season 3 – Episode 1: Quotey CEO Nick KiddCommercial insurance made more accessible, no kidding around!
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Nick discusses how commercial insurance “is an awful beast to work in” and why that led to him creating Quotey – a platform built by brokers for brokers. With Quotey, Nick says that brokers can complete client applications in as little as 10 minutes. They’ll then receive multiple insurer quotes in seconds. Yes, we said seconds.
Grab yourself a pint and learn all about Quotey, Steve’s “say no to portals” movement and a whole bunch more in our first episode of season three.
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