From all of us at ILScorp & ILStv, Happy Canada Day!

From all of us at ILScorp & ILStv, Happy Canada Day!

#HappyCanadaDay, We’ll be Back on Tuesday, July 2nd!

The ILScorp offices will be closed Monday, July 1st. As we take some time to enjoy Canada Day. We’ll be back Tuesday morning, ready to take your calls, answer your questions and register you for online insurance programs. You can reach us from 8 a.m. – 5  p.m. Pacific Time.

You can also register for our insurance training programs online, anytime, at ILScorp.com

ILSTVNews Canada’s Source For Insurance Professionals is taking this coming summer off to spend time with loved ones, family and friends. For subscribers to the ILSTV Insurance Industry Newsletter, your Daily dose of Canadian Insurance News returns to your inbox on Tuesday, Sept 10th.

But not to worry we have your insurance news covered. Our Weekly Canadian Insurance Newsletter will continue through the summer so I know if you haven’t already you’ll want to sign up for our weekly Canadian Insurance News to stay up-to-date while you enjoy your summer. :). Follow this link to sign up for our Weekly Insurance Newsletter –  ilstv.com

Stay safe and have a fabulous summer everyone!

 

 

Northbridge’s Silvy Wright elected Chair of the Board of Directors for IBC

June 25, 2019 (TORONTO) – Insurance Bureau of Canada (IBC) is pleased to announce that its Board of Directors has elected Silvy Wright to serve as Chair of the Board. Ms. Wright is President and Chief Executive Officer for Northbridge Financial, a leading Canadian commercial insurer.

“The insurance industry is changing at an unprecedented pace and facing new challenges. As the voice of Canada’s property and casualty insurance industry, IBC is uniquely positioned to help address shared concerns and forge solutions to pressing issues,” said Silvy Wright, Chair, IBC Board of Directors. “These challenges span from work advancing the country’s preparedness for severe weather events, to auto insurance reforms across Canada, to new technologies and industry disruptors. Through IBC, property and casualty insurers will continue engaging governments and stakeholders across Canada to drive changes that will benefit Canadian businesses and consumers. I look forward to continuing this important work and representing the shared values of our industry.”

Ms. Wright has been President and CEO of Northbridge since 2011. Before that, she played a pivotal role in building Markel Insurance into Canada’s premier trucking insurer, including being President and CEO starting in 2006 after holding other executive positions with the company. Prior to Markel, Ms. Wright held other senior positions in the insurance and financial services industries.

“In her new role as Chair, Ms. Wright brings a wealth of experience and knowledge to IBC, and her work in commercial insurance brings a unique perspective to the role,” said Don Forgeron, President and CEO, IBC. “We look forward to working with her to reach our goals of helping consumers and keeping Canada’s insurance industry strong and robust. With Ms. Wright’s leadership, IBC will continue to advance its strategic priorities with communities, stakeholders and governments across the country.”


About Insurance Bureau of Canada

Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.

P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 126,000 Canadians, pays $9 billion in taxes and has a total premium base of $54.7 billion.

Apollo Insurance launches online marketplace for SMEs after $1m angel round

Apollo Insurance Solutions Launches Industry-First Online Monthly Subscription Service, Following Close of $1M CAD Angel Round … an e-commerce marketplace that enables brokers and their small business clients to instantly

Vancouver, BC, June 25, 2019 (GLOBE NEWSWIRE) — Apollo Insurance Solutions (“Apollo”), Canada’s largest online insurance marketplace, officially launches today, unveiling an industry-first monthly small business insurance subscription available in Canada through the groundbreaking Apollo Exchange – an ecommerce marketplace that enables brokers and their small business clients to instantly quote and purchase insurance products entirely online. The announcement follows Apollo’s angel round of funding, which, after the completion of beta testing on April 1, 2019, successfully closed at $1 million CAD with support from notable investors, including Drew Green, Matias Marquez, Kim Kaplan, and Tim Gamble. This news comes at a critical time when the existing process for insurance policies lacks efficiency and results in gaps in suitable coverage, particularly for small businesses.

“Today’s launch is a defining moment in the Apollo story, and a memorable day for the entire team,” said Jeff McCann, Co-founder and CEO of Apollo Insurance Solutions. “We wanted to make it easier for Canada’s small businesses to operate, and a major pain point with starting and growing a small business is insurance. With the small business insurance subscription, we make it fast, easy to access, and affordable, empowering insurance brokers by streamlining their workflow so that they can spend more time offering strategic advice and counsel. It seems simple considering we subscribe to almost everything else, but it has yet to exist – until today.”

Current insurance policies require long application forms and wait times for quote turnaround, manual renewal or reapproval by a broker upon expiration, and limited access given 9-5 office hours – major pain points for small businesses. Apollo offers a simple solution that streamlines the process and alleviates the labour intensive paperwork for both brokers and their small business clientele.

“Incidents of complex new risks such as cyber breaches, natural disasters, massive supply chain inefficiencies, and a lengthy application process, are having a negative impact on Canada’s small businesses,” added McCann. “As it stands, it currently takes roughly six weeks to process an insurance application through to policy issuance and payment settlement. By leveraging innovation and technology, Apollo is able to expedite the entire process to just five minutes.”

Apollo helps insurance brokers close deals faster, accelerate revenues, and reduce costs. By simplifying the insurance application, quoting, and buying process through digitization – all of which is currently done on paper or PDF – brokers can access multiple insurance products, covering over 500 classes of business (from studios, to retail stores, to accountants, and hair salons) on one central platform, freeing up to 45 per cent of brokers’ time from administrative tasks. Since launching Beta testing, over 300 registered individual broker users have signed up on the Apollo Exchange marketplace, transacted 800 small business policies, and processed over 3,600 digital insurance applications.

The company is led by Insurance Broker Magazine’s Top 10 Under 40 recipient and former broker, Co-Founder and CEO, Jeff McCann. The Apollo leadership team is made up of award-winning journalist, Co-Founder and Editor in Chief, David Dyck; Co-Founder and CTO, Justin Hamade; and 2018 Young Gun of the Year, Head of Broker Engagement, Margo Lyons. Supported by some of Canada’s top entrepreneurial talent, Apollo’s Board of Directors includes Drew Green, CEO of Indochino; Tim Gamble, Founding Partner at Thunderbird Entertainment; and Steve Albiani of Stratum Advisory Group.

About Apollo Insurance Solutions

Headquartered in Vancouver’s Gastown neighbourhood, Apollo Insurance Solutions is Canada’s largest online insurance marketplace. Co-founded by Jeff McCann, David Dyck, Justin Hamade, and Drew Green, Apollo was created to empower brokers to better serve small businesses by giving them 24/7 access to digital insurance.

Apollo Exchange offers Canada’s brokers access to multiple insurance providers, with over 500 classes of insurance. Unlike the traditionally lengthy insurance policy and application process – which can take up to six weeks – Apollo users can quote, pay, and have their policy documents issued online in just under five minutes, allowing them to focus on the important stuff: building trusted relationships and offering strategic, thoughtful counsel.

Following the completion of its Beta testing in April 2019, Apollo has successfully closed its angel round of funding, raising $1 million CAD with the support of notable investors, including Drew Green, Matias Marquez, Kim Kaplan, and Caliber Ventures. Acting members of Apollo’s Board of Directors are leading industry and entrepreneurial figures Drew Green, Steve Albiani, Tim Gamble, and Jeff McCann. In June 2019, the company launched a first of its kind, digital, monthly subscription service. For more information, visit: http://story.apollocover.com/

Quebec-based credit union federation learned of data breach from police

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Westland Insurance acquires Farrell Agencies Ltd.

Westland Insurance Group Ltd. is pleased to announce the acquisition of Farrell Agencies Ltd., effective June 1st, 2019.

Farrell Agencies Ltd. is a full-service brokerage founded in 1974 with locations throughout South Eastern Saskatchewan.  The acquisition of Farrell Agencies Ltd. is the first for Westland Insurance Group in the province of Saskatchewan.

“We are delighted to enter the province of Saskatchewan and to add Farrell Agencies to the Westland family.  Jason Farrell and his team have built an outstanding operation with an unwavering commitment to the clients and communities they serve.  This is an exciting day for Westland as we continue our strategic expansion in Canada.”  – Jason Wubs, President & Co-CEO, Westland Insurance Group Ltd.

Jason Farrell will be staying on with Westland to help lead and grow the operation in Saskatchewan.

“Joining Westland strengthens our position in the market, and will ultimately allow us to better serve our clients with a broader range of expertise and products.  Westland’s core values are very much aligned with the culture we have built at Farrell Agencies over the past 45 years.  We are excited to become part of such a well-respected independent Canadian-owned insurance brokerage.” – Jason Farrell, President, Farrell Agencies Ltd.

The agency will continue to operate under the Farrell name to ensure a smooth transition.

About Westland Insurance Group Ltd.

Westland Insurance Group was established in 1980 in Ladner, B.C. and is one of Canada’s largest independent Property & Casualty insurance brokerages.  The Company has over 90 offices throughout British Columbia, Alberta and Saskatchewan and is considered a leader in Home, Business, Auto and Farm insurance.

About Farrell Insurance Agencies Ltd.

Since 1974 Farrell Agencies has strategically evolved and expanded to consistently provide unmatched products and services to their customers.  Putting our customer’s needs first has resulted in a growing customer base which requires more employees to service our expanding trading area.

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