Insurance Claims and Servicing - Canada - January 2017

Insurance Claims and Servicing - Canada - January 2017

  • Mintel
  • January 2017
  • Banking
  • 0 pages

Report Description


Increasing the adoption of usage-based insurance will mean convincing customers to trade in their privacy to obtain benefits such as better rates and a smoother driving experience.

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Table of Content

Regional classifications

Executive Summary
The issues
Four in five Canadians have auto and around three in five have home insurance
Figure 1: Ownership of insurance products, November 2016
About one in four are willing to use driving tracking devices
Figure 2: General attitudes about auto insurance, November 2016
Satisfaction with auto claims is high but there is some dissatisfaction about real-time status checks
Figure 3: Satisfaction with auto insurance claim, November 2016
Satisfaction with home claims is high but there is some concern about impact of claim on renewal price
Figure 4: Satisfaction with homeowners insurance claim experience, November 2016
The opportunities
Increasing ownership among younger consumers
Smart homes and home insurance
Increasing adoption rates of usage-based insurance
Practical measures to enhance the auto claims experience
What it means

Market Factors
The evolving world of telematics
Robo-insurance advisors
Smart homes and insurance
Sharing economy and insurance

Key Players – What You Need to Know
Economical insurance activates multi-channel distribution with launch of direct channel
Desjardins insurance engages key cultural communities
Belairdirect launches simplified home insurance quote tool
Facebook says no to insurance quoting effort
Insurer launches UK’s ‘first driverless car policy’
Apps facilitate mobile claims reporting
Slice offers on-demand insurance for home sharing

Success Stories

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