The Ontario Broker - June 2019 - 9

UPDATE:

nic
electro
f
proof o
ce
insuran

In our February issue we
reported that we've been
lobbying the provincial
government to approve
electronic pink slips as a
quick win for consumers. In
April it was announced in
Ontario's 2019 Budget that
electronic proof of insurance
was approved and could be
implemented over the next few
months. The announcement
was also included in the
government's Blueprint for
Putting Drivers First initiative
to simplify insurance for
consumers. At the time of
publication, implementation
details and dates had not been
confirmed.

HOW TO PLAN FOR 2019 AND BEYOND

1

GET AHEAD OF
RENEWALS:

At RSA, we work
closely with our
commercial insurance
brokers well in advance of
renewal dates, helping to
manage client expectations.
Underwriters and brokers
can work together to build
creative pricing options and
coverage strategies that will
provide solutions tailored to
customers' needs.

WWW.IBAO.ORG

2

KNOW THE
DRIVING
FORCES:

Many clients believe
rising rates are another way for
insurers to profit. At RSA we
see the value of investing time
with our commercial brokers
to educate them on changing
trends, economic climate and
the regulatory environment,
providing resources to prepare
their clients for these changing
market conditions.

3

BE TRANSPARENT:

Hiding or glossing
over the facts when
it comes to increased
rates and reduced capacity isn't
helpful in this market. Being upfront
with customers and letting them
know when they should expect
significant premium increases
while also providing context on the
reasons for short to medium-term
increases is the ideal way to manage
the situation. It will help retain
customer trust long-term.

9

We've commissioned a
review of current platforms
available to brokers to host
electronic pink slips, and will
be sharing scorecards and
affiliated education once the
confirmation bulletin is issued.
* Applied - CSR24
* ClientDesk
* CSIO - My Proof of
Insurance
* Custom Software SoIutions
Inc. - i-Client for TBW
* Intact Client Centre
* Keal - CAP (Consumer
Access Portal)
* Trufla - truMobile
* Zycomp - Power Broker

JUNE 2019
http://WWW.IBAO.ORG
The Ontario Broker - June 2019

Table of Contents for the Digital Edition of The Ontario Broker - June 2019
