The Ontario Broker - Volume 23, Issue 3 - 21

Éric Manseau, Directeur Général
Regroupement des Cabinets de Courtage D'Assurance du Québec (RCCAQ)
Unique Challenges
The Quebéc market remains highly competitive. Direct insurers
Provincial Roundup
are very present and hold a very large market share, particularly
in personal lines, around 65%. The challenge for brokerages and
their insurer partners is to win back market share in this segment.
To boost their competitiveness, a number of brokerages have
embarked on digital transformations and are adopting various
business solutions. RCCAQ received a $3.7 million grant from
the Government of Quebéc to support brokerages during this
technological transition, which is key to winning back market share.
RCCAQ has also put in place a platform for brokerages aimed
at generating business opportunities for personal lines clients
(demano.ca). By answering a short questionnaire, consumers can
obtain a quote quickly and efficiently. They are then automatically
referred to a participating brokerage firm, which ensures that the
products meet their needs.
Fun Fact: The Château Frontenac in Quebéc City is
considered the world's most photographed hotel.
Pending Regulatory Changes
Since June, the law amending Quebéc's Charter of the French
Language (Bill 96) has raised concerns. As part of the changes,
all contracts must be initially sent to consumers in French. If
requested, an English version can be provided. Thanks to lobbying
by the RCCAQ and other stakeholders, a number of exceptions
were written into the new legislation. As a result, consumers can be
provided with an insurance policy exclusively in English, especially
if it has no equivalent in French in Quebéc, is issued outside
Quebéc or isn't widely distributed in Quebéc. The RCCAQ continues
to lobby the provincial government for additional clarifications to
these exceptions.
Underrated Landmark: Magdalen Islands-forming an
archipelago in the middle of the Gulf of St. Lawrence, the
Magdalen Islands are known for their breath-taking scenery
and super-friendly residents.
Licensing
As mentioned previously, direct insurers have a highly visible
presence in Quebéc. Expect to see these competitors everywhere
you look-TV, billboards, radio and online. Since Quebéc has a nofault
insurance regime in place since 1978, newcomers can expect
to see much lower auto insurance premiums in Quebéc, compared
to other Canadian provinces.
You can find information on getting licensed in Quebéc on the
Autorité des marchés financiers (AMF) site.
Pop Culture: You simply have to try poutine topped with
duck or foie gras!
Volume 23 | Issue 3
21
http://www.demano.ca
The Ontario Broker - Volume 23, Issue 3

Table of Contents for the Digital Edition of The Ontario Broker - Volume 23, Issue 3
