Jeffrey Leon says ‘it’s increasingly important to draft insurance policies in a way that avoids ambiguities by using defined terms wherever possible.’
The Co-operators announced today that they have acquired Technicost, a technology company that provides credit management solutions, including Loan Origination Systems (LOS) to Credit Unions, effective December 31, 2018.
“This was a natural fit for us as our organizations share values with respect to serving credit unions in Canada,” said Rob Wesseling, president and CEO, The Co-operators. “We can now deliver a broader suite of options and capabilities in the creditor space and will continue to support our credit union partners’ choice of LOS.”
Technicost has been providing credit software solutions to Canadian credit unions for over 35 years and is a financially strong organization with room for growth.
“We’ve worked hard to successfully build Technicost and are proud of our achievements in the creditor space,” said Dominic Paquette, CEO of Technicost. “We are in a position to continue to grow our product offering and become a market leader with the support of a strong organization like The Co-operators.”
Technicost’s current management team and staff will remain in place and it will be business as usual for clients. Technicost will operate as an independent entity as part of The Co-operators group of companies.
About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $42.5 billion in assets under administration. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights’ Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca
SOURCE The Co-operators
CHICAGO, Sept. 10, 2018 /CNW/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired Clearwater Insurance Group Inc. (Clearwater Insurance). Terms of the transaction were not disclosed.
Headquartered in Toronto, Ontario, Clearwater Insurance delivers innovative insurance solutions to clients through customized programs and proactive health services. Alexander Eaton, President of Clearwater Insurance, will join Hub Ontario reporting to Curtis McCone, President, Wealth Management and Employee Benefits, Hub Ontario.
The move further demonstrates Hub’s ongoing Canadian employee benefits growth and services strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits solution.
About Hub’s M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited (Hub) is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. From offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit hubinternational.com.
Media: Marni Gordon
SOURCE Hub International Limited
OTTAWA _ Statistics Canada says the number of people collecting employment insurance in April fell to the lowest level in at least 21 years.
The federal agency says 453,100 people received the regular wage insurance payments in April, down 100,200 or 18 per cent since April 2017, and the lowest number since comparable data became available in 1997.
The reduction in beneficiaries was reflected in every province and coincides with a reduction in the national unemployment rate from 6.5 per cent to a record low of 5.8 per cent over same 12-month period.
StatsCanada also points out there was real gross domestic product growth in every province in 2017 for the first time since 2011.
The agency says the sharpest year-over-year decline in EI recipients took place in Alberta, where the 56,300 people collecting benefits was down nearly 29 per cent from a year earlier.
Other provinces with big declines included Quebec, down 24 per cent; British Columbia, 22 per cent; and Ontario and New Brunswick, each down by 16 per cent.
Changes in the number of beneficiaries are affected by the number of new claims, recipients who go back to work and the number who have exhausted their benefits.
QUEBEC CITY, June 18, 2018 /CNW Telbec/ – SSQ Insurance launched its new website last week in collaboration with digital experience company Acquia. The ssq.ca website overhaul had two key components – replacing the content management software and revamping its look-and-feel.
The in-depth analysis of several market-leading solutions led SSQ Insurance to choose Acquia to handle the digital experience of the new website. Acquia provides an all-in-one Digital Experience Platform (DXP) that enables SSQ Insurance teams to focus on content, innovation and value-added services for its clients and members. Acquia works with Drupal, the most widely used content management system (CMS) in its category, because it offers innovative functionality, is committed to security and is compatible with third-party digital optimization tools.
The multiple components of the Acquia intelligent Platform and marketing tools will enable SSQ Insurance to manage, customize and improve its online customer experience at every touchpoint. The Drupal CMS, which is both modern and efficient, offers the functionality and agility required to support the complete execution of the company’s Customer Centre and various initiatives related to honing customer services.
Changing ssq.ca’s CMS to Acquia’s digital experience platform led SSQ Insurance to fully integrate its new brand identity into and update the look-and-feel of its website. The site’s architecture and navigation setup were entirely redesigned in order to enhance user experience on every type of device. The most popular user tasks are front and centre. The site is now even more relevant, from coast to coast, because it uses geolocation to provide specific information depending on province of residence.
“We want to make navigating the site as user-friendly as possible on all devices, especially smartphones. This is a priority because 30% of visitors use their smartphones or tablets to visit our website. Just like the attributes of SSQ Insurance’s brand identity, the new ssq.ca is positive, modern and supportive,” said SSQ Insurance’s Marketing and E-Business Vice-President Annie Lafond.
“With this launch, SSQ Insurance is making a strong digital shift and refocusing its efforts on customer experience optimization. With Acquia, SSQ Insurance now has the agility, flexibility and openness on which to build its positioning and continue to offer value-added services to its policyholders and customers,” said Acquia Vice-President Mathieu Weber.
About SSQ Insurance
Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. With assets under management of $12 billion, SSQ Insurance is one of the largest companies in the industry. Working for a community of over three million customers, SSQ Insurance employs over 2,000 people. Leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector. For more information, visit ssq.ca.
Acquia provides a cloud platform and data-driven journey technology to build, manage and activate digital experiences at scale. Thousands of organizations rely on Acquia’s digital factory to power customer experiences at every channel and touchpoint. Acquia liberates its customers by giving them the freedom to build tomorrow on their terms. To learn more, visit acquia.com.
SOURCE SSQ Insurance
Insurance brokers and their clients will enjoy accurate real-time quotes and faster, more efficient new business submission and policy issuance with a software integration project from Economical Insurance and Custom Software Solutions Inc. (CSSI). The real-time data exchange project will integrate Economical’s Vyne™ offering with CSSI’s vendor rating software IntelliQuote (IQ) and broker management system The Broker’s Workstation (TBW).
“We share Economical’s commitment to improving the broker channel through technological innovation,” said Scott Andrew, CEO of CSSI. “This new real-time connectivity, which adheres to CSIO standards, enables our CSSI brokers to provide a better quoting experience and faster new business policy turnaround for their customers.”
“Incorporating CSSI software into our Vyne offering has allowed Economical to deliver an enhanced experience to our broker partners,” said Alice Keung, SVP and Chief Transformation Officer, Economical Insurance. “This real-time data exchange provides a streamlined workflow that allows both Economical and brokers to deliver faster and better service for our customers.”
Shifting customer expectations means brokers increasingly need new tools. Economical and CSSI recognize the opportunity to improve the quoting and policy issuance process by implementing new technology. The integration project will enhance broker quoting capabilities for new business in personal auto, personal property, and individually rated commercial auto (IRCA). Immediate benefits to the broker are improved rating accuracy, real-time rate updates, and rate maintenance efficiencies. A quote can quickly be turned into a new business submission in one customer interaction. If no underwriter intervention is required, a policy will be issued in real-time and an eDoc download will be available within minutes.
IntelliQuote and TBW integrated rating and new business issuance with Vyne will roll out regionally beginning June 2018.
About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with more than $2.2 billion in annualized premium volume and more than $5.4 billion in assets as at March 31, 2018. Headquartered in Waterloo, ON, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Petsecure, Economical Financial, and Family Insurance Solutions.
About Custom Software Solutions
Custom Software Solutions Inc. (CSSI) was founded in 1991 and is a leader in the development and delivery of real-time digital solutions and business process automation systems for Insurance Brokers, Companies and MGAs in Canada. Our proven Broker products, The Broker’s Workstation, IntelliQuote, The Underwriter’s Workstation and I-Client, and Insurance Company Products, I-Company, I-Broker, and I-Biz, are today providing significant efficiency gains leading to increased productivity and decreased operating expenses for both Broker and Company users. CSSI boasts a team of highly experienced programmers, insurance industry professionals, and certified computer technologists. CSSI services its growing clientele of Brokers and Insurance Companies from its offices in Virden, MB. For more information, visit our website at www.cssionline.com.