We are living in a digital-first world. From social media to online banking to shopping, we use our mobile devices for the majority of our social and commercial activities.

Customers want easy, transparent and quick online experiences. Insurers understand this, but unfortunately don’t have the ability to innovate their products and share information electronically. This needs to change – customers’ needs and expectations must come first.

The pace of policy and regulatory changes has failed to match the speed of technological changes. Insurers need the Ontario government’s commitment to modernize insurance laws so that they can put customers’ needs first and meet their ever-evolving online habits.

Putting customers first

Customers want a better and more efficient experience when dealing with their insurer. We conducted a poll and the results speak for themselves:

  • 74% of Ontarians want the option of receiving their insurance documents (proof of insurance card, insurance renewals) electronically.
  • 79% of Ontarians agree that electronic insurance information is as safe as paper-based communication.
  • 78% of Ontarians feel that receiving their insurance documents electronically would be convenient.
  • 90% of Ontarians find the ability to access their bills and financial information online to be convenient.

To view the full report, click here: An Innovation Agenda for Ontario’s Insurance Industry

The industry is listening to what Ontarians want. We’re proposing a few changes to insurance regulations that will put the needs of customers first. Have a look at the 4 changes – and if you agree, take a moment to sign the change.org petition at the top of this page or send a Tweet via the share button on this page.

SOURCE Insurance Bureau of Canada

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