The 2020 ICTA Nominees
The 2020 ICTA nominees are listed below. The executive summary of each nomination is posted – in alphabetical order – along with a link to a lengthier description. Each nomination summary was provided as part of the nomination.
Nominees published to date:
- Apollo Exchange *
- Aviva Canada *
- Aviva Canada & RBC Insurance
- The Commonwell
- Crawford & Company: Performance Hub *
- Crawford & Company: YouGoLook
- Duuo by The Co-operators *
- Export Development Canada (EDC)
- La Capitale
- Mitchell & Whale: Goliath *
- Mitchell & Whale: Quotey *
- Storm Insurance Group
- UW Insure Brokers
2020 ICTA Winner
Aviva Canada Inc. has deployed a real-time analytics service that helps claims adjusters decide rapidly and confidently at first notice of loss if damaged vehicles are likely to be repairable or total losses, without the need for an appraisal to be completed. The new service, deployed on Aviva’s data science platform, leverages data and predictive analytics via API called directly from the Guidewire ClaimCenter Claim Wizard user interface. Thanks to the new tool and a number of supporting technical innovations, the claim lifecycle, rental costs, and storage costs have decreased dramatically, and customer satisfaction has significantly improved.
2020 ICTA Runners-Up
First Runner Up
Mitchell & Whale: Quotey
Commercial insurance brokers have lived without the same technology as their personal lines counterparts for too long and those days are ending. No longer will brokers need to play endless telephone tag with clients to gather the right information to create insurer submissions. No longer will brokers need to stick their heads up and shout out in the office, “Anyone know an insurer who will write [Insert Customer Type Here]?!?” Quotey is one of a number of tools being developed with the aim of making business insurance not suck in 2020!
Second Runner Up
Apollo Exchange is a technology platform that enables brokers to instantly transact insurance online.The Exchange offers brokers three tools: Broker Portal, Launchpad, and Program Automations. The free Broker Portal allows individual brokers to browse insurance products, receive immediate quotes, transact policies, and documents are issued in real time — no contract or volume commitment required. Become a digital brokerage overnight with APOLLO’s Launchpad, a white labelled eCommerce solution that allows clients to self serve 24/7. With Program Automation, digitize an existing portfolio or binding authority using proprietary APOLLO technology.
2020 ICTA Finalists
Crawford & Company (Canada) Inc.: Performance Hub
Crawford has developed a proprietary quality management tool called Performance Hub to help its adjusters, supervisors and managers view the “health” status of all open files in real time and prioritize employee time and effort. Algorithms are used to assign a file “health” score to each file. Employees are presented with a ranked list of files requiring attention which updates itself dynamically as file activities are completed. Since implementation, Performance has helped increase file health scores by 11% and achieved the established corporate benchmark. More than one-third of Crawford’s employees have earned a perfect “healthy” score on 100% of open files and over 2/3 have earned a “healthy” score of over 95%.
Duuo by Co-operators
Created by The Co-operators in 2018, Duuo is a digital insurance brand that provides on-demand solutions to meet the needs of Canadians participating in an innovative and fast-paced digital economy.
To launch its first product, Duuo teamed up with Slice Insurance Cloud Services. Slice’s machine learning technology allows for on-demand quotes, through an easy-to-use interface. Potential customers simply have to input the location of their home, the type of property and their contents limit for an immediate quote to be given. From there, they can purchase nightly coverage in minutes. If a claim is made, the same machine learning technology can begin collecting information on the claim while also efficiently controlling for fraudulent submissions. The Duuo platform includes a chat bot as well as licensed reps to help further support customers.
Since launching, Duuo has continued to work with Slice to expand its portfolio of products.
- Technology by Slice Insurance Cloud Services.
Mitchell & Whale: Goliath
What do you do if the lead management software out in the market doesn’t quite do what you need it to do? Build your own, of course! Launched in December 2018, Goliath is Mitchell & Whale’s in-house lead management and reporting system, and to our knowledge, the best and most robust lead management system built specifically for insurance brokers.
2020 ICTA Nominees
Aviva Canada and RBC Insurance
“Buy Online” gives customers of RBC insurance in Ontario the ability to quote and bind their home insurance online, without any need to speak to an agent. We’ve halved the number of questions customers have to answer to quote and bind their policy, whether online or on the phone, by using external data and sophisticated pricing and underwriting techniques. This has cut average call times by 25%, and customers can get from start to finish online in 2½ minutes.
The Marine Simplified Renewal Process reduces underwriter and broker touchpoints on smaller premium, lower complexity renewal accounts. This simplified process allows brokers to answer a few renewal questions from their electronic devices when the responses meet the qualifying criteria, the account is then bound and issued within a week. This simplified process provides our underwriters with more time to get ahead of their more complex renewals and provides better service to our brokers on their new business submissions.
The Cognition+ Mutual Insurance Community has enabled greater insights into their entire business operations through the implementation of the Cognition+ Insurance Analytics utilizing the Insurance Template for Qlik Sense through their partnership with Cognition+ and BizXcel. This template meets the specific needs of Mutual companies who were seeking to extend their reporting and analytics through dashboards. This template includes Governance, Operations, Agent/Broker Performance and Workflow applications that allow everyone from Board of Director’s to Executives and staff to analyze and monitor the financial health of the company, analyze day to day operations, and monitor performance including planning of pending work. This template addresses data analytics from multiple perspectives and allows companies to work more efficiently in both a centralized and decentralized environment. In less than 18 months, the rollouts of these capabilities were completed by 20+ companies, which speaks to the ease of adoption and efficiency of the process.
- Technology by BizXcel Inc.
The Commonwell Mutual Insurance Group
With the launch of Commonwell Connect, The Commonwell Mutual Insurance Group has empowered brokerages with technology to support once and done quote and bind processes for new business automobile and property lines of business. The approach supports long standing feedback from brokers regarding single sign-on and single entry and delivers an ease of use design with the broker in mind.
New members (policyholders) of The Commonwell will experience a much more engaging onboarding process through accuracy of policy quotation and binding and issuance of policy fulfillment within 24 hours.
Crawford & Company (Canada) Inc.: YouGoLook
In 2019 Crawford launched the YouGoLook self-service app that makes it easy for customers, employees, and anyone else to submit their own photographs, videos and notes related to their insurance claim. Crawford’s Vehicle Services team leveraged the technology to accelerate the industry shift from field-based appraisals of damaged automobiles to desk-based appraisals. When a new appraisal request is received the team at Crawford Vehicle Services will deploy the self-service app to the policyholder to help document the damages to the vehicle. From there, a desk appraiser prepares an estimate of the damages for further handling by the adjuster. This technology has eliminated travel time, reduced time to complete an appraisal by 60% and lowered costs by as much as $275 per loss.
Export Development Canada
Recognizing the evolution of international trade and the needs of customers, EDC, a traditional insurance and financing provider, established a third product line, Knowledge Services, to solve for the persistent market gaps and challenges its customers faced. EDC’s product team embarked on a customer-centric innovation journey to innovate, test, design and develop a suite of digital products that would scale to address the needs of many more companies than EDC had traditionally served. Established as an independent digital product team within the organization, it is also connected strategically to the existing financial lines of business to offer a more holistic exporter experience, expand EDCs value proposition to more companies and transition “Knowledge” clients into new “Financial” clients over time.
- Technology by Deloitte and Microsoft.
Consumers' buying habits have changed dramatically – modern consumers demand modern experiences! And although they still want to meet with advisors face-to-face, especially when applying for complex insurance products, they want the process to be seamless and digital. Savvy insurers like La Capitale Insurance Financial Services have understood this and they want to provide their advisors with the tools they need in order to provide a customer-centric experience. By using the Breathe Life Enterprise Commerce Platform, a white-labeled carrier solution, La Capitale sets itself as an innovative player and advisors are responding by selling more products.
- Technology by Breathe Life.
The LowestRates.ca home insurance quoter was designed to eliminate notorious pain points in the quoting process for consumers. To get an accurate home insurance quote consumers are typically required to look up detailed information about their home that they do not have immediate access to, such as the replacement cost (something many confused with the purchase price of the property). If these are not provided accurately, which is all too common, then their quote can be wildly inaccurate. Our quoter doesn’t just give you a quote – it also compares the market for you, allowing you to quickly and easily find the lowest rate from Canada’s top home insurance providers.
Onlia Sense is a free mobile app that reinforces safe driving behaviors while highlighting the benefits of mindful driving awareness. Drivers have the option to sign-up for a connected insurance program, on-demand insurance and other value-added services. Through Onlia Sense, Onlia (the parent organization) has entered Canada with an innovative, 100% pure digital insurance strategy that introduces a unique rewards system to drive engagement alongside an insurance cash-back approach – differentiating itself from more common UBI discount approaches.
Onlia Sense is powered by IMS’ SDK – providing the background telematics technology and data collection capabilities, enabling Onlia to focus on a rich, engaging customer UX experience.
Onlia Sense is proven to help make roads safer for Canadians. Statistical data accrued by IMS indicated that incidents of distracted driving—one of the most frequent causes of accidents—were reduced by 29 percent overall during the span of a recent program study when Onlia Sense is in use!
- Technology by IMS.
Storm Insurance Group
As insurance broker and consumer demands grow for digital application issuing systems, and the need to be able to conduct business 24/7, Storm Insurance knows the importance of adapting to the ever-changing world of e-commerce.
In 2019, the Storm Insurance Group (a national multi-distribution insurance solutions company) set out to accelerate its digital insurance business strategy with help from its own, in-house Innovation Hub.
Throughout the past year, the Storm Insurance Group’s in-house Innovation Hub has created and implemented products and services that have changed the way we do business, such as its recently launched www.myinsurancerenewal.ca. This Innovation Hub designed platform took a week-long, manual application entry process and reduced it to only a few hours work. Additionally, the ability to conduct business online through our Online Underwriter Portal and ZipSure Light will have great impact on the overall insurance industry and the future of the customer buying experience.
UW Insure Brokers
Digital Transformation has gone beyond seeking what a company could buy and plugin the next day. A true disrupter will turn the entire corporation around, uprooting existing ways of doing business and changing the status quo into something new. This takes a lot of courage and convincing.
In the last decade, brokers have seen huge shifts in the world of insurance, and without a doubt, more changes are underway. What we need to do is to ensure that we are as ready as possible for these changes. Several big tech companies, including Google and Amazon, are stepping into the world of insurance, and the use of Artificial Intelligence (AI) is gaining traction among insurance brokers. More than ever, it is important to adapt to consumer behavior. We share how we disrupted our processes using Enterprise Resource Planning and cutting-edge technology.