Canada’s commercial market is changing rapidly. Fresh, leaner business models are becoming more common, and companies have more agility to expand into subsidiary industries faster than ever before.
Commercial insurance distributors are under pressure to adapt their suite of products and services in order to best support companies in this time of exciting evolution.
Intact Insurance has responded by launching EDGE Complete – a new comprehensive extension package, which offers a national insurance solution for businesses of all sizes and across all industries. EDGE Complete is an “easy-to-manage” policy that allows business to adjust limits as needed, reducing the time required to maintain or update their insurance policy as their business evolves.
“The commercial lines market in Canada is changing very rapidly. At Intact, we know we need to evolve to meet our customers’ needs,” said Debbie Coull-Cicchini, executive vice president at Intact Insurance. “In designing the EDGE Complete extension, we knew it was important to not only re-evaluate the coverage we offered, but also the available limits and the structure of the product.”
EDGE Complete is a comprehensive commercial insurance package that features more than 60 different coverages. During research and development, Intact Insurance conversed with broker focus groups so the insurer could tailor the solution to their specific needs, Coull-Cicchini explained. It was launched across Canada in February.
“In designing the EDGE Complete extension package, we established a few key priorities very early on. Firstly, we wanted to offer the broadest coverage we possibly could. Secondly, we wanted to develop a solution that could easily respond to customers’ evolving coverage needs – so they can easily scale their coverage up or down as their businesses change,” she said.
“Our key priority was to make EDGE Complete really simply for consumers and businesses to understand what they’re covered for, so they can easily decide for themselves whether they need to consider changing their insurance coverage.”
The timing of the EDGE Complete launch “couldn’t be better,” Coull-Cicchini added, as both personal and commercial lines brokers are under more pressure than ever to demonstrate value in Canada’s evolving insurance landscape.
“We’ve been working on the EDGE Complete extension for a while, but obviously the timing couldn’t be better,” Coull-Cicchini told Insurance Business. “We’re really pleased to offer such a simplified commercial insurance product for brokers, who seem to be receiving it extraordinarily well so far.”
