9 March 2018 10:45
Johanne Lamanque, Michel Laurin and Lyne Duhaime
The insurers make a common front : the project of act 141 will protect better the public with the framework proposed, they say.
The insurance Bureau of Canada (IBC), thecanadian Association of insurance companies of persons (CLHIA) and the Corporation of the insurers direct de dommages du Québec (CADD) were all three asked to meet with the of the insurance Journal to share their point of view in the debate on bill 141. The three organizations have been encountered individually. They admitted that they had talked about without talking to each other as to their position.
Insurers are reacting now because they believe that there is a drift in some of the pronouncements set out in the last few weeks. The insurers had chosen to discuss only a parliamentary committee, but in the face of some slip-ups, they decided they could not intervene.
Believe in the strength of repeat falsehoods
Lyne Duhaime, president of the CLHIA Quebec, feared that force to hear the wrong things to be repeated, people will eventually believe it. Johanne Lamanque, vice-president, Quebec, for the TRAY, points out that some organizations give the impression that the framing system will be fully evacuated in the event of the adoption of the sale of insurance via the Internet.
“This concept seems to scare some. However, not only the current frame will remain, but it will be increased. It is unthinkable to believe that thefinancial markets Authority will think of a framework that is more flexible, ” she said. This is a vision shared by Lyne Duhaime. “I do not believe that the Authority will be less active. On the contrary, it is the regulator the most active in Canada ! “
View device information to the Authority
Ms. Lamanque added that the Authority has a certain degree of experience to ensure the protection of the consumer. Have a regulator built-in, following the transfer of the activities of the Chambers, will be an advantage, ” she said. “The Authority will have a peripheral view of what’s happening in the industry, which is not currently the case. “
Lyne Duhaime reiterated that the functions of the Rooms will remain. It will be part of the act of surveillance, for example, which will be integrated to the Authority. It is true that the two houses will be destroyed, recognizes it.
The consumer decides
Denis Côté, director general of the CADD, defends so ardently for increased protection of consumers in the future management framework. He recalled that, in 2015, in the presentation of the results of its consultation on sale on the Internet, the Authority had identified 11 guidelines to regulate the sale and protect the consumer. “These directions were binding and the insurers were in agreement. “He adds that it is far from the situation of the “Wild West” as portrayed by some on the public square.
Michel Laurin, president of the board of directors of the CADD, rises up against those who oppose the sale on the Internet. “It’s not the insurers who want to impose new ways to distribute insurance, it is the consumers who decide ! “Denis Côté adds :” It is the consumer who asks for it. We must adapt. The consumer does in other industries. Why not in ours ? “
Internet as a tool of communication
According to Mr. Laurin, portrayed sale on the Internet as being something catastrophic, in front of which the client will end up completely destitute. “It has risks, but it does not emphasise that this is exactly what the consumer wants now. “Even more, he adds :” oppose the sale on the Internet, it is not be centered on the needs of the client. “
Mr. Laurin admits that it is important to ask if the sales on the Internet will respond really to the customer’s needs. “It is true that in the insurance of persons, the issues are more complex. For example, the education of children and the analysis of financial needs and require a reflection. But the Internet is also a communication tool to raise awareness of these issues. If it prevents this interaction, we lack something. “
“The industry must demonstrate that it is modern ! ”
The industry must, however, show that it can be modern, said Mr. Laurin. “Why force the client to undergo a repetition verbal that he has already entered in a Web site ? We have customers who are outraged to see that we are not able to see what information they have entered on our own website. It is also necessary to consider the added value that it brings, ” he says.
According to him, many will continue to deal with a broker, but this will not be all the world. “It falls into the same debate that the broker face-to-agent direct. There will always be room for both. “
Go at his pace, thanks to the Web
Ms. Lamanque also said to believe that the transmission of information will be better thanks to the Web. “We should not under-estimate the artificial intelligence will make in this regard. The insured will have more information at hand. It is also a fashionable alternative. “In addition, he will be able to go at his pace, said the vice-president of the BAC-Quebec. He will be able to shop on the Saturday morning, and then return to it later. We must, however, ensure that the info they need is there, recognizes it.
For Lyne Duhaime, the sale of insurance by the Internet is inevitable. The industry can’t get around the current process, ” she explains. “There has been no such review of laws in insurance for 40 years. It is necessary to include the Internet. We cannot wait another 40 years to do it ! “