ICBC to introduce online insurance renewal option

ICBC to introduce online insurance renewal option | Insurance Business Canada

ICBC to introduce online insurance renewal option

The Insurance Corporation of British Columbia (ICBC) will soon be offering customers the option to renew their personal insurance policies online.

Eligible customers with policies expiring on or after May 01, 2022 will have the option to renew online on any device. ICBC explained in a release that while May 01 is the official launch of the online renewal option, customers can start renewing online up to 44 days earlier (March 17, 2022) ahead of the expiry of their policies.

“The online insurance renewal initiative offers British Columbians a more convenient way to renew their ICBC auto insurance,” said Minister of Public Safety and Solicitor General Mike Farnworth.

“We know online insurance renewals are something our customers have been waiting for, and we’re pleased to announce that we’re on track to have this option go live next month,” added ICBC president and CEO Nicolas Jimenez. “Online insurance renewals add to the growing number of digital options available to customers, providing greater convenience, choice and flexibility for British Columbians.”

ICBC first notified customers of the online renewal option in 2020.

Read more: ICBC enables online auto insurance renewals

Apart from enabling personal auto insurance renewals, ICBC’s new online insurance service will allow customers to change their address information, apply for discounts, update the drivers listed on their policy, and modify how they use their vehicle. The online service will be supported by ICBC’s broker network.

ICBC said in an official government release that it expects to add more online features in the future.

The launch of ICBC’s online service coincides with the insurer’s announcement that May 01 will be the last day that BC drivers will be required to display a licence plate validation decal as proof that they have valid insurance. ICBC has invested as much as $1 million to enhance and expand the Automated Licence Plate Recognition program, which not only saves drivers from needing a decal for proof but also helps law enforcement detect unlicensed and uninsured drivers.