Technology and Automation

TECHNOLOGY AND AUTOMATION
Carrier performance 6.71

FIVE-STAR CARRIERS

• Portage Mutual Insurance
• SGI Canada
• Sovereign General Insurance Company
• Trisura Guarantee Insurance Company
• Wynward Insurance Group

What brokers want

“It would be helpful to have online access to wordings”

“Continue to develop automation and invest in technology”

Although carriers are making strides in their technology offerings, overall performance in technology and automation has declined since 2017 – falling from an average score of 7.14 to 6.71 – suggesting that brokers are still not 100% pleased with carriers’ tech advancements. In fact, just five carriers garnered a five-star rating for their technology offerings, the least out of all categories, and a slight drop from the seven carriers that earned the accolade last year.

With the exception of one broker who said his insurer still insists on delivering policies on paper, most brokers are generally pleased with the technological capabilities offered by their carriers – a couple described their carriers’ offerings as “progressive and innovative” and “very modernized and easy to use.” And many brokers reported that while their carriers’ tech capabilities are still lagging, they’re at least making strides toward improvement. “Despite the new system slowing things down, I think they are going in the right direction,” said one broker, whose sentiment was echoed by others who reported that their carriers are “working hard to catch up.” However, it’s clear that there’s still more carriers can do in this area – particularly when it comes to e-document capabilities. A few brokers mentioned the need for downloadable documents, instead of documents that can only be accessed online, as well as the ability to make online policy revisions.