22 August, 2018 07:00
Photo : Freepik
If the subscription conditions are more difficult in Quebec, officers of banner the attribute primarily to a tightening of the market. Not necessarily to a loss of influence of the managers of the insurers to brokerage in Québec.
Rémy-Pierre Boisvert, president ofAssurExperts, recalls that the mergers have created large players. The insurance has thus become a game of analysis over the years, ” he said. It is more of microtarification, he said, insurers are using more and more data and actuarial science.
“It is more difficult to accommodate them in the subscription,” said Mr. Boisvert. One feels that there is less decision-making power in Quebec at this level. It is in a model that is more rigid underwriting. We see players who have taken the decision to return to Quebec. They realized that Quebec is a different model. There is no denying that there are changes. “
To Louis Wood, president of Brokers Usa, the question is first of all a restructuring of the market. “It changes. It evolves a lot. Insurers will restrict to meet this market. Not just the insurers whether domestic or foreign, the quebec insurers also. It is too sharp to say that some decision-making centres are less strong. It is the general rule. “
Mr. Wood said that there are fewer insurers having regard to the mergers. “Technology has also had a great impact on the distribution and on the subscription. The brokers have even more latitude in pricing. They can make decisions for the insurance in insurance of individuals and small businesses. The concentration of the market and advances in technology have allowed. “
Therefore, do not throw the stone only to insurers, said Mr. Wood. “The brokerage firms have also undergone transformations. The clients might say they have a less good service because we do not give more of their fonts into their own hands as before. It sends it by e-mail. The market has changed a lot. “