The 2020 ICTA Nominees
The 2020 ICTA nominees are being published over the course of January. The executive summary of each nomination is posted below – in alphabetical order – along with a link to a lengthier description. Each nomination summary was provided as part of the nomination.
Check back in late January for the launch of the People's Choice Award!
2020 ICTA Nominees
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.
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.
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 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 an binding and issuance of policy fulfillment within 24 hours.
Crawford & Company (Canada) Inc.
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%.
Crawford & Company (Canada) Inc.
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.
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.
Mitchell & Whale
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.
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 is no longer a simple question of asking what a company could buy and plug in tomorrow. It takes the entire corporation and the willingness to uproot the entire culture and way of doing business people are comfortable with.
Over the course of more than a decade as insurance brokers, we have witnessed seismic changes in the world of insurance – and expect more to come. The question is, are we ready? Google and Amazon are making forays into the insurance sphere; widespread use of artificial intelligence has become the norm; learning from and adapting to consumer behavior is more crucial than ever. UW Insure Brokers shares our journey to innovation, centred on Enterprise Resource Planning implementation and state-of-the-art technology.