Innovation in Insurance—Canada—July 2019: Keeping Abreast with the Eco-friendly Protocols, Providers

Published: Sat Aug 24 2019

With the advent of smart technologies, consumers are showing staunch inclination toward integrating IoT into daily-use applications such as, homes, automobiles, among others. Within a few clicks and taps, they are able to control their personal belongings and ensure their security via mobile apps. The IoT technology including, sensors, are making inroads into the vehicular department, enabling the rise of driver-less cars. With the millennium turning to smart homes, insurance providers are vying to cater consumer-centric solutions that can be used in remediation and claims. These insights are according to the intelligence report, titled, "Innovations in Insurance - Canada - July 2019," which has been of late added to Market Research Hub’s (MRH) overarching armamentarium.

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Companies for instance, Onlia, are providing coverage for vehicles online. The company has launched a mobile app to facilitate passengers with safe driving and offers roadside assistance which includes tow facility, tire alter, refueling, locked out, and jump start. Furthermore, RBC Insurance builds new digital solutions to provide coverage and advice for almost every domain— life, retirement investment, health, and others.

Upsurge in the incidents of road fatalities due to human error and anthropocentric weather-related issues have been the matter of concern among the Canadian demographic. As a consequence, insurance companies in Canada have gained significant prominence. The Financial Services Regulatory Authority (FSRA) Ontario is reforming auto insurance to enhance access and affordability for drivers, and improve customer security without bringing in unnecessary legal hurdle.

Purchasing car insurance has become commonplace in Ontario as pay-as-you-drive insurance introduced last year aims at renewing customers’ insurances online, thereby avoiding the need to visit the insurance company. Some insurance providers are offering lower premiums to establishments leveraging eco-friendly protocols or to consumers driving cars equipped with GPS system. In addition, the insurers are serving discounts on premium or making smart home equipment accessible at lower rate.

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Innovation In Insurance—Canada—July 2019: Report Content

Quantitative and qualitative assessment exhort intelligence and overarching report on the innovation in insurance—Canada—July 2019 market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the advancements of the insurance—Canada—July 2019 market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elaborates segregation of the market that provides an exhaustive analysis on innovation in insurance—Canada—July 2019.

An insightful and deep-dive assessment of the competitive assessment of the innovation in insurance—Canada—July 2019 market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the innovation in insurance—Canada—July 2019 market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

Innovation In Insurance—Canada—July 2019: Research Methodology

Primary sources and secondary sources propel intelligence report on innovation in insurance—Canada—July 2019 market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on innovation in insurance—Canada—July 2019 market further acknowledges secondary sources—namely—Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.

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