Describing the Insurance Industry

Report from the Survey

The report (PDF) summarizes your responses.

This survey closed Thursday, November 8.

How would you describe the shape of the insurance industry?

As part of an exercise to consider the future of the insurance industry in Canada – looking ahead all the way to 2023 – a group is evaluating how various factors might change the shape of the industry. That raised the question of just what the “shape of the industry” means.

If you were describing the insurance industry as a whole in Canada, perhaps to someone from outside the industry, what are some of the characteristics you might refer to?

Would you talk about employment or revenues? The split of distribution amongst different channels? What about the number of claims paid in a year or the claims dollars spent? The number of outside services companies (revenues) with a significant focus on insurance? The number of people who have earned an insurance-related designation? The number of policies, insureds, claimants?

Give us your suggestions about how to describe the shape of insurance. After consolidation of the suggestions, in about ten days we will ask for your help choosing the most significant descriptors.