Ontarians Feel They Are Paying Too Much for Insurance

 In a recent survey of Ontarians conducted by Leger, 60 percent of respondents indicated that they feel they are paying too much for insurance. Foxquilt, a growing insurance technology company leveraging big data and machine learning to transform consumer buying power, today introduced an innovative group insurance model to shift this mindset. Foxquilt provides consumers and small businesses with the ability to join social groups with similar needs to access group insurance buying power. Foxquilt customers achieve savings upfront on premiums, reduced deductibles and are rewarded with further savings at renewal.

Two-thirds (67 percent) of Ontarians indicated that they would switch their insurance mid-term if group savings were greater than the cancellation fee.  Interestingly, 59 percent of survey respondents indicated that they would join an online community to increase their buying power and coverage while decreasing their costs, if they had the opportunity to do so.  That’s where Foxquilt is ready to help Ontarians share together and save together.

“Consumers identify, communicate and trade within smaller, personalized communities,” said Mark Morissette, CEO and Founder, Foxquilt. “Similar to other online retailers, we’ve developed technology that connects unique communities while creating new value opportunities for our groups to save on their insurance. Ontario consumers want to join groups to save on their home and business insurance. But they also want to be relieved from the daunting and painful exercise of getting insured. Our technology leverages data to automate the experience by connecting our group members with their preferred product in minutes. It alleviates the pain.”

Customers in Ontario can visit www.foxquilt.com on any device and simply participate in an online, interactive conversation to get a quote for their home or business insurance, or call the company directly. Insurance agents are also available through the company website and social media channels, or customers can use an online booking tool to book a phone call at a convenient time.

Interactions and processes have been engineered to be an easy to understand and simple conversation that gathers critical data points quickly and efficiently, in order to connect users with their groups for group savings, and provide relevant coverage and price options.

Some of the additional survey findings included:

  • Those who believe they are paying ‘too much’ for insurance are significantly more likely to say that their address/postal code affects the cost of insurance as are respondents from the GTA and Hamilton/Niagara versus other regions of the province.
  • Nearly nine in ten (89 percent) of Ontarians surveyed have some type of insurance with auto insurance being the most common followed by home insurance.
  • Almost one-quarter (24 percent) of Ontarians who have insurance say the top thing they do when renewing or changing their insurance is to review their coverage summary.
  • Ontarians who feel they are paying ‘too much’ for insurance are significantly more likely to review their coverage summary (51 percent) and shop around online (38 percent).

Foxquilt works with a number of insurance carriers including Aviva Canada, Economical Insurance, Chubb Canada, Gore Mutual Insurance Company, Premier Group of Companies, Trinity Underwriting, Burns & Wilcox Canada.

About Foxquilt Inc.
Foxquilt is a Canadian financial technology company focused on using big data and machine learning to empower social groups to save on Home and Small Business insurance. We create new value opportunities for customers by bringing people and communities together online with a smart and modern approach to insurance. Leveraging innovative technology and creating unique products, we make it easy for customers to buy insurance online from leading carriers and access group purchasing power. Foxquilt customers achieve savings upfront on premiums, reduced deductibles and are rewarded with further savings at renewal.

For more information, please visit www.foxquilt.com or join our Foxquilt community at www.facebook.com/foxquiltden.

About Leger Quantitative Research Methodology
An online survey of 1007 Ontarians was completed between October 26 and 29, 2018 using Leger’s online panel.  The margin of error for this study was +/-3.1 percent, 19 times out of 20.

SOURCE Foxquilt Inc.

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Empire Life adds Best Doctors services to group plans

KINGSTON, Ontario, Nov. 27, 2018 (GLOBE NEWSWIRE) — The Empire Life Insurance Company (“Empire Life”) (TSX: EML.PR.A) will automatically include the Best DoctorsⓇ suite of expert medical and care navigation services in its group benefit plans, starting December 1, 2018. Best Doctors services bring together top physicians worldwide—selected through ongoing peer-to-peer polling—to help employees navigate our complex health care system and improve health outcomes. Best Doctors is a service of Teladoc Health, a global leader in virtual care.

Small and medium-sized businesses with extended health benefits provided by Empire Life will be eligible for five Best Doctors services:

A leading expert will perform an in-depth analysis of an employee’s medical data, including diagnostic imaging, test results and pathology samples when appropriate. Then they provide recommendations in a detailed, confidential report. Employees are invited to share the findings with their own doctor, should they choose.

Employees can get help searching for the right specialist. The FindBestDoc team researches options and provides employees with a comprehensive report to share with the treating physician, who can then make a referral.

If an employee needs to see a specialist outside of Canada, the FindBestCare team will search their global database of over 50,000 physicians in more than 450 specialties and subspecialties.

Best Doctors 3600 Ⓡ A Member Advocate can help employees get the information they need on a variety of health topics, offering peace of mind that they’re making well-informed decisions about their health care.

Medical Records eSummaryTM
Up to three years of an employee’s medical history can be collected and delivered in a convenient, secure digital file. A medical expert reviews the records and provides a health alert summary, bringing any potential health concerns to the employee’s attention.

“We’re delighted to bring this outstanding service to our customers,” said Michael Perry, Vice President, Group Product and Marketing.“ Empire Life is on a mission to make group benefits simple, fast and easy for Canadians. By automatically including Best Doctors services in our group plans, we’re adding convenience and helping people get the right diagnosis, the right treatment and the peace of mind they deserve.”

“We’re honoured to partner with Empire Life,” said Robin Cooper, vice president, strategic relationships, Teladoc Health. “As forward-thinking Canadian employers and plan sponsors work to help their members navigate the health care system and get the medical answers they need, this suite of Best Doctors services will help connect members seamlessly to leading experts and the peace of mind that comes with the right guidance.”

About Empire Life

Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products to Canadians. The company’s mission is to make it simple, fast and easy for Canadians to get the investment, insurance and group benefits coverage they need to build wealth, generate income, and achieve financial security. As of September 30, 2018 Empire Life had total assets under management of $17.2 billion. Follow Empire Life on Twitter @EmpireLife or visit www.empire.ca for more information.

Contact: Shelly Potter
613 548-1890, ext. 4348 or shelly.potter@empire.ca

About Teladoc Health
Best Doctors is part of Teladoc Health, Inc., a mission-driven organization successfully transforming how people access and experience healthcare, with a focus on high quality, lower costs, and improved outcomes around the world. The company’s award-winning, integrated clinical solutions are inclusive of telehealth, expert medical services, AI and analytics, and licensable platform services. With more than 2,000 employees, the organization delivers care in 125 countries and in more than 20 languages, partnering with employers, hospitals and health systems, and insurers to transform care delivery. For more information, please visit www.teladochealth.com or follow @TeleadocHealth on Twitter.

Contact: Justin Joseph

B.C.’s insurance corporation cuts ad budget in favour of traffic enforcement

VICTORIA _ The Insurance Corporation of British Columbia is slashing its advertising budget in half and redirecting the funds toward police traffic enforcement.

Attorney General David Eby says high risk drivers are ignoring the corporation’s road safety messages.

He says channelling advertising funds directly to enforcement will offer the chance to deliver the message directly to risky drivers.

Starting in the next fiscal year, the insurance corporation will add $2.4 million to enhanced traffic enforcement.

The Ministry of the Attorney General says that will boost the public insurer’s investment in direct safety traffic programs to $24.8 million.

Corporation president Nicolas Jimenez says ICBC’s cost pressures can be traced directly to the 350,000 crashes, about 960 a day, that were recorded across British Columbia last year.

“With crashes at an all-time high in our province, we’re committed to doing what we can to reduce claims costs and relieve the pressure on insurance rates,” Jimenez says in a news release.

The corporation says the $2.4 million remaining in its advertising budget will be spent educating drivers about upcoming changes to the provincial auto insurance system.

Lemieux, Ryan and Associates joins Aon

MONTREAL (November 27, 2018) – Aon, the leading global professional services firm providing a broad range of risk, retirement and health solutions, today announced that the team of Lemieux, Ryan and Associates will join the Aon Public Sector Practice in Montreal as of Jan. 1, 2019.

Paul Lemieux has accepted the role of Senior Vice President and Account Executive for Eastern Canada. He will be responsible for contributing to the strategic direction of the Public Sector Practice in Quebec and the Eastern Region, and for delivering best-in-class customer experiences to Aon clients.

This year, the Study found that overall employee engagement among Canada’s Best Employers was largely unchanged from last year and, as in previous years, it shows that organizations with high levels of employee engagement create a strong and compelling employment brand, excel at fostering a high-performance culture and have engaging leaders.

“Paul has owned and skillfully operated Lemieux, Ryan and Associates, a boutique public sector brokerage, for 28 years,” said David Edgar, Senior Vice President and National Public Sector Leader, Aon in Canada. “His team is highly regarded for its expertise in this segment, and we’re looking forward to working with them towards further success in the future.”

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