Globe & Mail Fall 2019 Insurance Trends Report

Globe & Mail Insurance Trends Report: November 2019

Toronto, ON (Nov. 29, 2019) – Welcome to the era of ultra-personalized insurance. New types of products and services are available to Canadians through a growing number of channels and consumers are increasingly purchasing insurance tailor-made to suit their individual needs. While traditional policy categories and annual commitments still exist, insurers are launching innovative forms of insurance that break the historic mould, such as insurance that you activate and deactivate as needed, or premiums which are calculated, or discounted, based on your behaviour – demonstrated by data – instead of your demographic risk profile.

Digital monitoring technologies and connectivity are fuelling much of the transformation.

“All the sensors and connected devices in our homes, vehicles and fitness devices are generating tremendous amounts of data, and data is the new gold,” says Doug Grant, partner at Insurance-Canada.ca Inc., an organization that provides independent information about technology and the business of insurance.

Read more:

• Globe & Mail Fall 2019 Insurance Trends Report (PDF)

With comments and examples from:

• Doug Grant, Partner, Insurance-Canada.ca
• Matthew Turack, President, CAA Insurance;
• Peter Primdahl, VP of Emerging Business Models, The Co-operators;
• Camille Stewart, VP Strategy and Digital Experience, Manulife (Canadian division);
• Pieter Louter, CEO, Onlia.

About the Globe and Mail

The Globe and Mail, founded in 1844, is Canada’s foremost news media company and a part of Canada’s fabric. We cover events that have changed our nation as well as the day-to-day happenings that continue to shape us as a country.

Each day, The Globe leads the national discussion by engaging Canadians through its award-winning coverage of news, politics, business, investing and lifestyle topics, across multiple platforms. The Globe and Mail print and digital formats reach over 6 million readers every week, with Report on Business magazine reaching over 1.5 million readers every issue in print and digital. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.

SOURCE: The Globe and Mail