Alberta Broker - Oct/Nov 2017

THE ALBERTA

Taking the Digital Plunge

A step-by-step guide

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Meet Generation Z: The New Labour Force DUPED: Does Fraud Coverage Always Cover Fraud?

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The Alberta Broker October – November 2017

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Gerry Baert

I hope when you look back at the best summer on Everyone was really excited about the meeting, and I’m

record this year, you will have filled your time with feeling pretty positive about the long-term outcome.

family, friends and wonderful memories of sunny As I write this column, I’m currently working on another summer days. Initially, I thought with this great weather I “Let’s Talk” webinar with Bill Adams from the Insurance would find myself super busy and knocking things off my Bureau of Canada (IBC) on how we can all work together to-do list. Well, I didn’t do a heck of a lot. The upside is I on what I consider the Achilles heel of our industry: feel pretty rested for everything that starts to kick into high consumer’s lack of knowledge about insurance. Bill and the gear for me from September until May of next year.

IBC have really great information to share in this area, so As wonderful as our summer was here in Alberta, we I’m looking forward to another highly successful webinar witnessed two devastating catastrophes. The B.C. wildfires that is planned for the end of September. were uncontrollable, with the warm, dry weather allowing no Our members are launching some of the most exciting relief. Even though the losses were great, happenings. Karen Nelson-Hoflin from Hopefully, more of our insurance it could have been way worse. The same Go Insurance along with her Applied companies and BMS vendors will could not be said for the devastation in Systems support group from Alberta leave their egos at the door Texas. It numbed me just watching the have set up an open-dialogue Facebook and participate in this tragedy of such unbelievable devastation. page. The idea is to introduce our broker-friendly solution.

Like you, my thoughts and prayers go out membership to a more open and to the victims on every side of these tragedies. transparent conversation on sharing ideas, fixing problems On a sunnier note, I kick-started my summer with my first and basically making our industry stronger. Go to “Let’s Talk” webinar on consumer-facing portals (co-hosted www.facebook.com/albertaapplied users and join the

by Intact). Nearly 170 participants joined the conversation.

Applied Client Network Alberta Chapter conversation.

We did lose a few to a technical glitch, so a week later we Karen made it clear you don’t even need to be an Applied emailed the full presentation and Intact emailed the recorded Systems user to join. Just jump in! webinar. Thank you to all the members who participated.

Finally, the impossible is closer than we ever believed.

The discussion was very informative and eye opening. No Aviva, Economical, Wawanesa, Red River Mutual, Keal doubt this information flow will spill over many more Technology, Custom Software Solutions, Insurance Brokers conversations in the coming months.

Association of Canada (IBAC) and CSIO have been working Another positive result from these discussions with Intact diligently and jointly to develop a single entry connectivity was the opportunity to visit the company’s lab in Montreal. accelerator. This project isn’t just talk; it has some serious George Hodgson, Rikki McBride, Julia Marshall, Scott walk, and early testing has been wonderfully successful. In Romans (who heads up this year’s technology committee) the next stage, hopefully more of our insurance companies and I went. Our goal is to develop a grassroots, national and BMS vendors will leave their egos at the door and broker tech committee. The purpose is to provide an open, participate in this broker-friendly solution. Out of the ashes, transparent dialogue on future implementation of digital this group of innovators is fulfilling a long-lost dream. strategies and their involvement with brokers. Intact is very Fantastic work to all of you. receptive to our first efforts toward this objective. That’s a Maybe it was a busier summer than I thought. Starting pretty great start. this fall, it’s full on “go brokers go” for me, and I couldn’t I arranged a meeting in early September with Joanne Abram be more pumped. Thanks to everyone who has emailed, and Anthonet Maramieri from the Alberta Insurance Council phoned, texted or tripped me over the last few months with (AIC) along with Rikki, George and me. The idea was to your thoughts and ideas. We’re just warming up. bring forward a few discussion points from both sides and As always, feel free to contact me directly at 403.770.4960 work towards strengthening our working relationship while or at gerry@gobluecircle.com. respecting the difference of our roles within the industry.

Let’s talk, Gerry 4 The Alberta Broker October – November 2017

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Meet Generation Z:

Canada’s Newest Labour Force

By Andrew Beuglet, MA

I WANNA BE CONNECTED TO A PURPOSE!

I WANT VARIETY AND SECURITY!

Until recently, the HR focus has been on millennials entering the workforce and how to help them make the transition into their careers. But now that millennials are the largest cohort working today, and many of them have moved into management positions, a new crowd of

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fresh recruits is making its first tentative steps into employment. Who are these young people? What do they want? How do you manage them? And how can your company make sure that it positions itself as an employer of choice for these up-and-comers?

Let’s start by looking at what we should call this new wave of jobseekers, and who they are. “Generation Z” will likely be replaced by a more specific name as the generation becomes more familiar; in the meantime, “digital natives,” “post-millennials,” and “the iGeneration” are competing with other terms to be the name of choice when describing the cohort. This new generation represents people born after 1996, mostly the children of generation X, and the oldest among them are in their first jobs or just starting to look.

While industries like retail and food service, which have historically offered many young people their first jobs, will be most affected by this first wave of generation Z, organizations in all industries should expect to see more generation Z resumes crossing their desks soon.

Predicting a generation’s future is a tricky proposition: as people age, their priorities change, and a generation comprises millions of diverse and unique individuals, so that broad generalizations inevitably miss a lot of the nuances. That said, as technological, cultural, environmental and political contexts change over time, so too do the people living through them, and while young people of any generation share some common traits, each successive cohort also brings something new in response to the changed world they grew up in. The present crop of working novices is thus the same as and different from those who came before, and it’s both those

similarities and differences that employers of all stripes need to understand. So what is your plan to respond to the needs and preferences of generation Z? ACTION PLAN Consider their health and safety Because young workers are at a higher risk for workplace injuries due to their inexperience, consider implementing young-worker health and safety training.

You should also have a young workers safety policy in place to ensure that all parties, including management, human resources and more experienced staff, are

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employment, avoiding traditional jobs and career paths. On the other hand, studies have also suggested that generation Zers, having grown up watching their parents struggle through the Great Recession, are deeply concerned about their own financial prospects and crave stability and longevity in their careers.

Another finding is that generation Zers seek variety in their work. As a generation inundated with information and surrounded by constant diversion, they tend to look for novelty and change in their daily lives, and are daunted by the prospect of doing the exact same thing, all day and every day. They like to teach and to learn, and are hungry for new experiences and new challenges in all aspects of their lives.

Consider polling your young workforce with a survey to figure out what they really want from your organization.

As a generation inundated with information and surrounded by constant diversion, they tend to look for novelty and change in their daily lives. aware of their roles and responsibilities in keeping young workers safe.

The policy can be supported by a young-and new-workers orientation checklist to be used when onboarding young workers in order to guarantee your recruits are provided with the information and guidance they need to work safely.

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Learn what they want Like their predecessors, generation Z can seem like a bundle of contradictions.

Studies suggest that many of them plan to start their own business someday or already engage in some form of self-

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Demonstrate a connected purpose Appealing to generation Zers is tricky. Research suggests they’re more distrustful of brands and establishments than millennials and that they feel less dependent upon a job or career to define themselves. Companies should adjust their recruitment to focus on authenticity: instead of a slick, polished campaign, show generation Z real employees talking about their everyday working experience. Demonstrate an honest and strong commitment to your

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larger community. Every organization, no matter the size and industry, is part of something more: an industry, a neighbourhood, a place. More connected than ever before, generation Zers want to know how the work they do fits into the larger world. Use a corporate social responsibility policy to not only make your commitments explicit but also to demonstrate to prospective employees that you recognize the role you play in your community. Further, you can enable employees to take approved time off to perform volunteer work by implementing a volunteer policy.

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Speak their language Generation Zers want you to talk to them in the ways they like best.

Thankfully, this doesn’t mean keeping up with the latest online slang. Simply communicating through multiple channels can be effective. Though one

might expect that generation Zers, with their ever-present smartphones, would always prefer electronic, textbased communication, studies reveal otherwise. Generation Z recognizes that some information is best conveyed by voice or in person, and is not only comfortable with non-digital communication but, in fact, desires it more in certain contexts.

Brief or routine information is still ideally suited to email, text or messaging services, but difficult conversations and complex instruction may be better suited to in-person conversation. If you are uncomfortable with this type of interaction, consider taking training on handling difficult employee conversations.

Reach out to your youngest employees in a variety of media and let them collaborate with you to find what works best and when.

Final Thought Generation Zs have already begun to enter the workforce, and millions more

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are coming. While there are sure to be differences and challenges managing them compared to older colleagues, generation Zers want many of the same things as everybody else: stability, integrity and opportunity. Be honest with and loyal to them, and you’ll see the same qualities mirrored back to you.

Andrew Beuglet, MA, is a researcher/ writer with HR Downloads, an IBAA partner providing brokers with discounted access to HR information.

Check the IBAA website for more information.

Who? What? Where? Tracy Fata

Northern BROKER NEWS Roberts-McClure Insurance welcomes new commercial broker Robin Parker.

Chris Miller, previously of Intact, moved to the broker side and is now at Lloyd Sadd Insurance Brokers Ltd. Pratt Lambert and Brown Insurance has crossed the border and acquired brokerages in California. Jeff Brown has a list of pros and cons to this type of venture, but the best one I can see is beating the cold Canadian winter in the California sun. Congratulations to Greg Hilderman of Armour Insurance Lloydminster who is celebrating forty years in the insurance industry this year.

COMPANY NEWS Northbridge Insurance moved its offices to the MNP building in downtown Calgary.

Fawn Mah took on the marketing rep role at SMI, replacing Sharon CroninRussell. Sharon moved to Saskatoon as the marketing supervisor for SMI. Albert Pol returned to Intact at the Edmonton office as vice president.

Alistair Lebo left Edmonton Intact to take over the reins at the Intact Victoria office.

New personal lines underwriters at Wawanesa are Kathleen Unterschutz, Jessica Johnson and Stacey Leask. Ken DeDecker is now the director of specialty lines for Wawanesa in Calgary.

Earlier this year, Aviva welcomed Shirley Hall as assistant vice president.

INDUSTRY PARTNERS/ CHARITIES/PROFESSIONAL ORGANIZATIONS MacEwan University Insurance and Risk Management held its annual fall mixer on September 14, 2017. Students in the program got the opportunity to

meet and mingle with a variety of insurance professionals. The Blue Goose Spring Gala, held in May 2017, raised $12,500 for Meals on Wheels.

Mike Sherban, PMLG (centre), presents the donation to Meals on Wheels’ Caitlin Fleming (l) and Ashley Pardy (r).

On July 1, 2017, leading eastern and western forensic engineering providers CEP Forensic Inc. and Sintra Engineering Inc. announced that the two companies have merged to create Canada’s largest forensic engineering firm. The new entity, CEP-Sintra will have close to one hundred employees from coast to coast in eight offices and will operate in both official languages.

SUCCESSION PLANNING Effective August 1, Stalco Insurance (Excel Insurance Group) purchased Leighton Insurance out of Provost.

Leighton Ringrose will remain on for a couple of years to help with the transition.

10 The Alberta Broker October – November 2017

RETIREMENTS After 42 years in the insurance industry, Bill Sinclair (claims manager with Optimum West in Edmonton) is retiring on December 29, 2017. Bill’s career started in February 1975, as road adjuster with the Canadian Surety Company. Over the next 24 years, Bill saw service in Calgary, Ottawa, Edmonton, Mississauga, Toronto and again in Edmonton.

After the sale of Canadian Surety to Allianz in 1999, he tried his hand in the independent field but returned to the company ranks in 2000 with Optimum West. Bill says it has been a fulfilling career with numerous changes in both wordings and in court interpretations of those wordings. Not a day goes by without a new twist being brought forward. He will miss the people that have made this adventure what it has been.

We wish Bill all the best in his upcoming retirement.

BIRTHS Congratulations to Jolene Oman, Excel Insurance Group Lloydminster, on the birth of her son, Bohdi Oman, August 18.

TRACY FATA Regional Manager of Branch Operations, Portage Mutual Insurance Company tfata@portagemutual.com

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The Alberta Broker October – November 2017 11 2017-08-23 9:57 AM

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We’ve all heard it: Broker, go digital or die! We get it. Offering customers an online experience is vital for a brokerage to survive. If only it were that easy. Why haven’t the majority of brokerages made the leap? I think there is a lack of understanding about what the overused phrase “going digital” means, coupled with a lack of time, expertise and resources to sort through all the tech offerings to figure out which path to follow.

I don’t believe in reinventing the wheel, so I’m sharing my thoughts for those who have the will and are searching for the way to go digital.

Truly, we already have some of the tools and just need to make better use of them. The rest of the tools are out there, so let’s figure out how to choose what’s best for you.

Begin with the end in mind. Nothing should be done until you’ve defined your ideal customer journey—this dictates everything and has to drive what you do. As onerous as this analysis is, it’s absolutely critical. The end result?

A roadmap of what you have in place that can be capitalized upon and what you need—both in process and technology.

Resources are at a premium in every brokerage, so you need to create capacity. Look critically at what you do, how you do it and how effectively you’re using the technology you already have. Next, get metrics and appropriate measurement in place and then you can move on to your marketing objectives.

Sound overwhelming? Then let’s unwrap it one step at a time.

Your customer journey— on purpose!

Yikes! What a challenging but absolutely pivotal endeavour.

Map it out. For every single step of the way, define the experience you want your customers to have, in every mode of communication they may want.

Time to tackle!

1 Identify every client interaction such as getting a quote, changing banking info, even cancelling a policy or sending them newsletters and timely advisories such as when there is a

natural disaster.

2 Document each step from beginning to end and then: a. identify all of the ways a client would want to interact with you b. rate the customer experience you deliver today (design a scale ranging from agony to delight) c. highlight areas that need immediate attention and those that can wait d. pinpoint the step(s) that is a moment of truth (a critical decision moment where if it is a great experience they will refer others or if not, they may leave) 3 Analyse your results. What is missing from the journey? What would make each moment of truth a great experience? Thinking of technology, which interactions would clients expect to access by a mobile device or just online; which processes need to be more automated to eliminate the fat? Where are the opportunities?

Watch for ways to use your technology better and what new tools need to be added. This will become crystal clear as you move through the interactions.

You are creating your requirements against which to measure the various technology offerings and find the right product.

Your roadmap is underway. Trust me, the first couple of processes/interactions are difficult, but once you get the flow you will love this process! What often gets lost is the journey for your customer —be relentless and continually challenge yourself to remain focussed on the customer’s journey as it has the power to transform how you do business and wow your customers!

Get your house in order You cannot build your dream home on a matchstick foundation, so delivering your ideal customer journey requires a solid foundation. The byproduct is additional capacity within your existing staff.

Two projects accomplish this: 1 maximize existing technology/ software 2 take the fat out of workflows/ procedures The unexpected benefit is that your staff become inured to change. Even better, these small changes create extra capacity in their workday for your new initiatives, all while building a culture of change.

How do you exhaust the possibilities in your technology? Talk to your vendors about new and existing functionality and then take a hard look at how you are using it (and I mean actually using it). With customer self-service in mind, BMS (broker management system) functionality like eDocs for personal/commercial lines, automatic invoicing and automated emailing of eDocs to clients should be in place.

It is difficult to take a critical look at ourselves, so consider bringing in an expert to evaluate your current workflows and use of technology to provide objective recommendations.

The expenditure will pay for itself.

We’ve heard it a million times … but truly, are you paperless or do you just have less paper? Make sure your BMS houses every client document and interaction.

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The Alberta Broker October – November 2017

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continued from page 13 No digital solutions will work if your main system of record is missing information! Take advantage of temporary help to clean up your data by updating email addresses and mobile phone numbers and possibly contacting clients to fill in the missing pieces. You could use that as an opportunity to deliver an extra client touch by asking them how they would like to do business with you or if they would like receive a newsletter.

Give producers the tools to do their job more effectively — this can be as simple as a web-enabled tablet to use wherever they are.

Train, train, train! Help your staff become experts in all of your software.

There are a myriad of tips and tricks that save seconds at multiple touch points, adding up to minutes a day and hours per week. Take these new-found hours and reallocate them to proactive touches to get and keep customers.

Who isn’t excited to find a faster, easier way to do things? Continuing to build a culture of change? You betcha!

Software Dating Now that you’re a lean, mean brokerage machine, let’s look at opportunities to explore new technologies for your tool belt.

How do you identify which problems are best addressed by software solutions?

Leaving AI aside, refer to your road map requirements; they identify the self-service clients want to do. Look internally to determine if you have the expertise or need to consider a consultant to help with the evaluation of the tools.

This is a one-time cost that can save you in the long run.

Sometimes our default behaviour is to buy technology and then retro-fit our process to it. This is simply asking for trouble! Match the requirements from your roadmap to the solutions.

The one that has the most matches (including future plans) goes to the top of the list. None of the solutions fit your need? Consider building your own. Some brokerages in Canada have achieved good success this way.

What technologies should a broker be embracing?

These are a few ideas that I think brokers should be jumping all over: 4 Website—the starting point here is a current, mobile-friendly and intuitive website. You need to consider automation for a client to pick up things and automation to let clients do things. Keep in mind a stat from CSIO that “sixty-one per cent of consumers on a mobile device will abandon a non-mobile website instantly.” Cost is depending upon the functionality you want. The key is to match it the functionality to the requirements from 4 eSignature—this affordable software enhances the client experience by eliminating barriers to scanning, printing and coming into the office.

It reduces document chasing and is a good first choice! The CSIO website offers a good comparison of software providers.

4 Call recording—while more expensive, it provides a huge return by

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eliminating the back and forth with a client of signed apps and documents.

Bonus: a great auditing tool that also provides E&O protection as conversations are indisputable. As an added benefit; it’s a sales tool with scripting and monitoring/tracking.

4 Mobile apps—there are a few to choose from, but choose wisely. Your roadmap is the guide here. What do your clients want to do? Get help at the time of a claim? Get a pink card?

Change their banking? What do they want to do on the fly?

4 Chat—look at your roadmap to identify the times you can use chat and AI to respond immediately, giving customers what they want and freeing up staff for higher value tasks. In addition, these tools can reinforce the advice offered by the broker channel as well as perhaps reduce consumer errors in the online quote forms.

Important note: the last step is to test the customer journey you’ve identified and the technology you’ve adopted to create that journey— before you go live! Consider setting up a small customer focus group to walk this path with you, ideally comprised of both current and prospective clients.

Let the marketing begin!

Now you’re ready to turn up the volume and drive more business into the brokerage.

The sky is the limit for marketing.

All of the major BMSs export email lists for prospecting and integrate with different marketing software tools. To attract new customers, plot out your

points of contact and you’ve got a plan.

Some brokerages use Salesforce or MS Dynamics to manage their sales funnel with great success. Integration into your BMS is an option for some.

Look at your plan to see how viable it is.

Why stop there? With up-to-date data in your system, run reports to identify upsell opportunities or alert clients to missing standard coverage.

Send targeted emails to clients based on their specific needs and exposures to add value to the relationship. How about pushing a message to clients with a pool about increased liability limits, pool safety and fences when it’s time for pool parties? You get the idea. There are endless possibilities.

deployment plan? Is the experience what you intended? How much traffic are you getting to your website? Use tools to determine when visitors bail and the pain points on your website.

Have you asked customers how they like what you’re doing? Whether you create your own survey or engage Navicom for assistance, the only way to get the answer is to ask!

Sometimes our solutions don’t work the way we hoped. It’s just as important to know when to call it quits, rather

than limping along indefinitely. Pay close attention and adjust when needed.

The last word: Get your journey in check, make a plan and then work the plan, including getting the technology that fits you! So broker, go digital and thrive!

Wendy Watson is managing partner of EfficientBroker, a consulting firm that assists Canadian brokerages with operational and systems efficiencies and training to enhance their customer experience.

Drastic times call for drastic measuring!

The customer journey drives your workflows and processes. Goals drive the results you need and activities drive the results you get, so you’ve got to track what is being done—including your sales funnel, which happens to be the most expensive task in a brokerage.

How many quotes turn into a sale? How many touches on the rest before you stop the contact? Are proactive client touches happening ... when should they?

Who completes renewal reviews and what is the retention impact? Each step needs to be measured so you can keep your well-oiled machine, well-oiled.

The results will tell you if you are doing the right things, and if the right people are doing those things!

Measure how your customers are using the technology you’re giving them. What changes are needed to your

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WICC Report

Donna Brown

Fanning the Flame As I write this report, the eclipse has just happened, the mornings are dark again and the evenings are cool. By the time you read this, we’ll all be enjoying (or recovering from) Thanksgiving celebrations. Soon after, our thoughts will turn to Christmas and the New Year, and I hazard to guess what our weather could be.

What won’t change during that time is our desire to do some good and raise more funds for WICC Alberta.

Funding Life-Changing Research The excitement over our chosen project with Doctors Mahone and Jenne continues to be our topic of discussion. We are all convinced the research will change how we treat cancer. Imagine, if you will, a cancer treatment that does not involve radiation or chemotherapy? The devastating side effects of both, gone! To be a part of this possibility is truly what our efforts are all about.

It’s win-win! If you are interested in becoming a champion for WICC Alberta, please email: katherine.campbell@aon.ca.

Industry Support Where would we be without the support of our industry golf tournaments?

It is wonderful to continue to receive the support year after year from The Sinclair, The Silvercrest and bits and pieces from many other tournaments.

The IPC steps up with hole support and IBAA always sends us a cheque from its convention tournament. Our service providers are always there for us.

The great folks at FirstOnSite hosted a bra pong (see photo) for us. They always bring the fun.

Calling All Champions We have been quite successful in hearing from many of you who want to become a “Champion for WICC Alberta” in your office. This would see you encouraging participation in our Gold Flame Awards Lunch, organizing a fundraiser in your office and getting involved in Hooray Hooray the 1st of May. Chubb got on board last year and hosted a beer pong tournament for its staff. So, you see, being a champion can be about more than raising funds for WICC Alberta, i.e., providing fun and “engaging” events for your staff.

16 The Alberta Broker October – November 2017

Upcoming Events Our Edmonton team, led by Tony Thibaudeau, is again hosting a breakfast to run in conjunction with the Canadian Finals Rodeo at the fabulous Chateau Lacombe on November 8th. Reach out to Tony for tickets or sponsorship opportunities— tthibaudeau@sintraengineering.com.

The annual Gold Flame Awards Lunch is January 25, 2018, at the BMO Centre at Stampede Park.

If you are interested in sponsorship, tickets or any information, please email jennifer.e.davis@marsh.com.

Until next time …

DONNA BROWN Director, Intact Insurance donna.brown@intact.net

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The Advocate

George Hodgson

The Stakes Are High

Bet on Digital Sometimes many of us in the insurance broker channel feel that our system is under siege.

The direct-writer channel is consistently chipping away at our market share. Currently, some of our insurer partners are setting up direct arms with the same name as their broker channel company names, while others are using different names.

Many are using various methods to reach out to the brokers’ customers directly.

Brokers worry about these trends.

How long will it be before companies and clients conclude that perhaps they can retail or obtain insurance more efficiently without the use of a broker?

Will companies eventually reduce commissions paid by arguing that the broker is doing less work? Will those companies that have a direct arm encourage clients to move to the direct division? To be fair to the companies, none of these trends appear to be current; however, some in the broker channel may be concerned that these are long-term end strategies.

Rather than speculating on end strategies, we need first to define the

problem.

Is the problem that the companies want to do away with the broker channel?

Or is it that the broker channel is woefully behind the direct competitors from a digital or technological perspective? I think the latter problem is much more likely, particularly since the broker channel portion of most companies’ bottom line is more profitable than the direct counterpart.

Further, the broker channel is (with a very few exceptions) significantly behind from a digital perspective. The not-so-old statistic that 11% of brokers in Canada do not even have a website is nothing short of astounding, but it is also indicative of how far behind we really are.

Many believe that insurance is too complex and the ramifications of getting the wrong or inadequate policy are too severe for most people to want to purchase the product online. While this hesitance may hold true for the time being, think about other transactions that we now make online.

18 The Alberta Broker October – November 2017

Not many years ago, most of us would have done our banking personally at our bank branch. We would have gone to a bank or a bank machine to deposit our paycheques and to pay our bills, particularly those we didn’t pay by mail or a year’s worth of post-dated cheques. Today, most of us go into a bank once a year if at all and will occasionally go to a bank machine for cash. Folks under thirty hardly know how to write a cheque as almost all of our banking is done online and most of our bills are paid that way. Most of us complete our income tax forms online and pay the tax owing or receive the refund through Internet banking.

In retail purchases, travel agents almost are non-existent and those that are still in business do little more than book all-inclusive vacations and cruises.

With Amazon, eBay and other online shopping, more packages arrive at a household’s doorstep than in the heyday of the Eaton’s and Sears’ mail order shopping of half a century or more ago.

A relatively few years ago, most of us would have not felt comfortable purchasing these items or doing most of our day-to-day business online. Now, we give little thought to performing online transactions, except to express annoyance when we can’t. With our busy lives, we look for ways to do all the necessary business from our living rooms and outside of business hours.

The main thing that stops us from doing more online is comfort level.

That lack of comfort is in large part what keeps many from conducting more of their insurance business online, but, as with banking and shopping, the perspective is changing over time. A key prompt in this change is the increasingly userfriendly customer interface that the insurance markets, particularly the direct-writer channel, are developing and using for both the purchase and claims processes. The broker channel is lagging the most in these areas.

Getting up to speed will require significant investment on the part of the industry; however, certain death awaits if that investment is not made.

Fortunately, IBAA’s Sage Business Boosters and the Centre for Study of Insurance Operations (CSIO) have solutions that will get you started on the road to digitalization.

Here are some Sage Business Boosters that will help: Brokercore is a broker management system complete with CRM tracking from prospects to final sale. It is Alberta based, easy to use, cloud based and with a drag and drop feature for storing documents from MS mail. It was developed just for brokers and beta tested by both IBAA and other Alberta brokers.

AKA Broker website design will build you a website with a quoting mechanism and is refreshed every

three years for a discounted flat fee that is available only to IBAA brokers.

The Sharp Mobile App for clients is customized with broker branding and is available 24/7. Clients have access to their policy details, with request for changes routed to the broker. It also features collision reporting with GPS accident location positioning, photos, scene diagram and more. Claim details upload to the broker and the insurer.

BlueButler increases staff productivity by recording calls and integrating with most BMSs with no need to change phone hardware. It prompts staff to upsell and cross sell and uses checklists to ensure relevant questions are covered to prevent E&O issues.

Easy Claims gives brokers the ability to book appraisals, body shop appointments, property estimates and emergency clean up. All vendors are insurer approved.

Pirbright Professions provides access to prompt online quoting for specialty risks through Lloyd’s of London underwriters.

NIRIX is a wholly Canadian cloud provider with 13 server locations in Canada featuring no cross-border transmission of data. With the affordable equipment rental and

upgrades for popular software, there’s no need to purchase new hardware, servers or software licensing.

CSIO has numerous products to improve digital efficiency such as eSignatures, eDelivery, eSlips and eDocs, as well as information on digital marketing and cyber security (see www.csio.com). CSIO membership

is free for IBAA members. Make sure to check out your technology score card to see where you stand from a tech perspective.

Many other Sage Business Boosters that deliver digital solutions are available.

Contact Janis Losie at jlosie@ibaa.ca.

Remember, these items are only a start. Some quip that the technical advances we predict will happen in two years take ten, while those that we predict will happen in ten are here in two. Still, as an industry, we must place our bet on the two-year time frame.

Make that start now because the survival of many brokerages and perhaps the industry as a whole is at stake.

GEORGE HODGSON CEO, IB AA ghodgson@ibaa.ca

Summer landscaper & winter snow remover?

If your customer has two seasonal businesses, check that both are stated on their SGI CANADA policy. That helps ensure they have the right coverage in place for their operation.

Contact your SGI CANADA Business Development Account Manager for details.

sgicanada.ca

The Alberta Broker October – November 2017 19

Legal-Ease

Sara Hart and Adam Ollenberger

DUPED

Does Fraud Coverage Always Cover Fraud?

We live in an increasingly technologically advanced society that is heavily reliant on computerized systems and programs. Cybersecurity has become one of the largest threats to corporations and individuals across Canada and around the world. While businesses seek to protect themselves from fraud by internal training and checks and balances, insurers are underwriting and creating insurance crime coverage models as a further line of protection to businesses in an effort to mitigate fraud risk.

In a recent Canadian decision relating to cybersecurity, social engineering fraud and insurance coverage, the Court of Queen’s Bench of Alberta held in The Brick Warehouse LP (“the Brick”) v. Chubb Insurance Company of Canada (“Chubb”) , that the Brick was not covered by their crime coverag policy for funds transferred by a Brick employee to a bank account based on information relayed in a fraudulent email. As the transfer instructions were issued by a Brick employee and were not a fraud perpetrated by a third party on the Brick, there was no coverage under the fund transfer fraud portion of their insurance policy.

In The Brick, an individual phoned a Brick employee in the accounts payable department and advised that he was a new Toshiba employee. He asked for

some missing payment details, which were forwarded. A few days later, a different Brick employee in the accounts payable department received an email from an individual claiming to be the controller of Toshiba Canada, indicating Toshiba had changed its banking to the Royal Bank of Canada and asked that all payments should be made to the new account using new transfer information.

A few days later, a further call was made to verify the new banking information. After the phone call, the

Brick employee changed the Toshiba Canada banking information in The Brick’s system. The transfer was reviewed by another Brick employee. No one from the Brick contacted Toshiba or the Royal Bank to verify the information and change in bank accounts.

As a result of the change in banking information, payments from the Brick which were to go to Toshiba Canada went to the new Royal Bank account.

A total of ten Toshiba invoices were paid to the new bank account totaling $338,322.22.

The fraud was not discovered until the same individual called the Brick,

20 The Alberta Broker October – November 2017

this time purporting to be from Sealy Canada. He told the same story about Sealy Canada changing its banking information and gave the same Royal Bank of Canada information as associated with the Toshiba Canada accounts. A Brick employee called an individual in the Toshiba Canada emails and was advised that Sealy Canada and Toshiba Canada had merged but could not provide further details until later.

Not long thereafter, a representative from Toshiba Canada called to inquire why it had not been paid for its recent invoices. It was at that point that the fraud was discovered, investigated and some of the fraudulently transferred funds were recovered. The Brick made a claim under its crime coverage policy to Chubb for payment of the balance owing. Chubb denied coverage and a lawsuit was commenced.

The Brick case was decided by summary trial. The question that was decided was whether the crime coverage policy purchased by The Brick covered the type of loss it suffered.

In determining the applicability of The Brick’s insurance policy with Chubb, the Justice Fraser considered the two-step interpretation procedure in relation to insurance policies set forth by the Supreme Court of Canada in Consolidated-Bathurst Export Ltd. v.

Mutual Boiler and Machinery Insurance Co. While the Brick purchased the policy to insure itself against loss caused by criminal activity, the policy placed restrictions on what sort of criminal actions were covered.

The Brick claimed that the loss should be covered as it fell under the funds transfer fraud coverage, which was defined in the policy to cover: Funds transfer fraud means the fraudulent written, electronic, telegraphic, cable, teletype or telephone instructions issued to a financial institution directing such institution to transfer, pay or deliver money or securities from any account maintained by an insured at such institution without an insured’s knowledge or consent.

For the Brick to have coverage, it would have to show that the bank transferred funds out of the Brick’s account under instructions from a third party impersonating a Brick employee.

There is no coverage if the funds are transferred by a Brick employee, even if he did so without knowledge that the emails he acted upon to cause the transfer were fraudulent.

Of importance, the judge noted that a number of decisions in the United States of America have also ruled on this issue, including a recent decision from the United States District Court for the Central Division of California, Taylor and Lieberman v. Federal Insurance Company. In Taylor and Lieberman, fraudulent emails were sent to a corporate employee who acted on them, transferring money out of the company’s bank account. Although the emails were fraudulent, the insurer was held not liable to cover the loss caused by the fraud because the employee requested and knew about the transfers.

The definition of funds transfer fraud includes specific reference to transfers without an “insured’s knowledge or consent.” Unfortunately for The Brick, unless the transfer was due to fraud caused by a third party without knowledge or consent by The Brick, there was no coverage for employees duped by a fraudster when an employee

acted independently on those fraudulent instructions.

In an era with ever increasing cybersecurity risks, The Brick decision highlights the importance for businesses and their insurance brokers to regularly

review their insurance policies to ensure appropriate coverage and that any losses caused as a result of fraudulent activity will be covered.

SARA E. HART and ADAM L. OLLENBERGER are lawyers with Dentons Canada LLP and practice in the professional liability insurance area. adam.ollenberger@dentons.com sara.hart@dentons.com

The Alberta Broker October – November 2017 21

PYIB Perspective Brodie Heidinger

Are Brokerages Positioned to Accelerate in the Technology-Driven World?

Reading Michael Spiar’s article “The Insurance Consumer Is Changing—Are Brokers?” in the last issue of The Alberta Broker left me thinking. Are brokers simply the next giant to fall to technology or are they nimble enough to succeed? What happens when artificial intelligence takes over the roads and the days of collisions are a distant memory?

These scenarios may never come to fruition or, at the very least, be realized years into the future, but they still have me pondering. Are brokers doing enough in general to change and adapt?

22 The Alberta Broker October – November 2017

Several months back, I was reading the history of Netflix. The cofounders—Reed Hastings and Marc Randolph—approached Blockbuster in 2000 to propose the acquisition of Netflix for $50 million for video streaming.

Blockbuster, of course, refused the offer. Fast forward 10 years, and Blockbuster is filing for Chapter 11 bankruptcy protection after a failed attempt to offer video streaming and a DVD mailing service. If you haven’t had a chance to read about the history of Netflix and its direct relationship to the fall of Blockbuster, it’s certainly worth your time.

It reminds me a lot of what we are seeing in our industry, with several insurance companies spending large sums of money to build a direct arm through the Internet.

Will we see a day when personallines insurance is predominately purchased online, similar to the way no one now thinks twice about streaming movies and TV shows? I sincerely hope not, but the industry seems headed that way. As Mr. Spiar mentioned in his article, brokerages will need to improve the flow and the ease of doing business. We will need to make sure our websites are mobile compatible and be sure our quoting engines are asking specific information for clients’ needs and wants. We must develop a userfriendly product that allows a point of sale/purchase on our websites.

On the darker side of technology, what happens when a brokerage loses 50–70 per cent of its auto commissions simply due to the reduced or eliminated premium? This change won’t happen for years, but humour me for a second. New articles appear everyday on use and testing of AI technology for automobiles. On the whole, they address almost every major car brand in the world.

What will happen when we remove the collision and accident factors from our daily lives? Will we still need auto insurance as we know it today? One could argue that we will always need comprehensive coverage, but what about liability, collision or all perils—the types of coverage that generate huge dollars for a brokerage?

Simply relying on the old ways will not guarantee success in the future. The brokerage channel and the insurance industry as a whole has never been a leader in the world of technology.

However, I think that’s changing. I believe this is a great time for brokers to take a moment, really reflect on where they would like their brokerages to be in 5, 10 or 20 years’ time and start by embracing and adapting to our ever-changing world!

Are brokers simply the next giant to fall to technology or are they nimble enough to succeed?

BRODIE HEIDINGER, Director-at-Large, PYIB bheidinger@tsginsurance.com

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Contact your underwriter to learn more about the perks of Member PROTECT™.

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Embracing Change to PROTECT You

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8/24/17 1:45 PM 23 The Alberta Broker October – November 2017

GRATITUDE The Simple Way to Motivate and Inspire Your Employees

By Brad Deutser Many traits are associated with strong leaders. They’re confident, they’re passionate and they’re decisive. But one critical leadership characteristic that doesn’t always get the attention it deserves is “gratitude”—letting employees know that their hard work is appreciated.

In other words, the best leaders know how to say, “Thank you.” They also realize that, to truly show gratitude to others, they need to take time to be grateful for themselves and for where they are today. From there, the gratitude emanates out to the others around them, making the entire organization stronger in the process.

The power of any organization is the collective energy of the people. Strong leaders recognize that it’s their people who form the soul of the company and who are directly responsible for the success of the organization, and often the leader.

When employees feel that they’re working for a leader who is engaged and is thankful for their efforts, it creates a better environment and instills loyalty. And, it drives performance inside and outside the company.

If you don’t take the time to thank people and appreciate people, I think

you’re missing the greatest opportunity to connect with them. People respond to it and it makes the work that much more meaningful to them and that much more impactful to you. It’s one of the best motivators and it just plain makes them happy.

And when employees are happier, that can lead to even greater productivity.

Shawn Achor, acclaimed Harvard researcher and author of The Happiness Advantage, has demonstrated through his research that when people work with a positive mindset they perform better in the face of a challenge and every business outcome improves.

A few things worth knowing about gratitude and its effect on an organization’s culture include: Authenticity is essential. People aren’t easily fooled by insincerity. Gratitude is something leaders need to really feel, not just be feigning because they’ve been told it’s important. If your gratitude doesn’t come across as real or if it’s not founded in something you truly are grateful for, then the inauthenticity shows through.

Gratitude is a big perspective shifter.

When the boss routinely expresses gratitude, employees are inspired to take challenging situations and reframe them in a way that reminds them something positive and good comes

24 The Alberta Broker October – November 2017

from them. It’s about creating positive energy. It’s about creating a positive workforce. And, it’s about understanding the direct correlation between positivity and performance.

Your willingness to show gratitude can rub off on others. Gratitude is very contagious. When people in an organization see their leader doing it, then you’ll find that they will follow along and that makes your organization’s culture even more positive.

We live in a world where we’re bombarded with negativity. When you inject gratitude—being grateful for what is good, for what is pure, for what is true, for what is real, for what is right—you’re able to change the environment.

At the end of the day, the more appreciated people feel the more willing they are to do a great job the next time.

I don’t care who you are, you like being told you’ve done well and that you’re appreciated. That goes for the leader, too.

Brad Deutser is president of Deutser LLC (www.deutser. com), a consulting firm that advises leaders and organizations about achieving clarity, especially in times of transition, growth or crisis.

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The Alberta Broker October – November 2017 25

Viewpoint

Scott Treasure

+ I am honoured to be taking over the helm as president of the Insurance Brokers Association of Canada (IBAC).

I would like to thank out-going president Robert Harrison for his tremendous leadership and service. I look forward to working with Robert as chair, along with Chris Floyd as president-elect, and Kent Rowe and Robyn Young as our two vice-presidents.

2018 is going to be an exciting year!

This is a pivotal time for our profession, as technological advances create both threats and opportunities for insurance brokers. As an association, IBAC has an important role to play in providing a national direction by which we can minimize the threats and maximize the opportunities while safeguarding the interests of brokers.

IBAC’s position is that technology can enhance broker operations, but not replace them.

Technology can speed things up, reduce costs and, you have to admit, it’s pretty cool. But one thing that no amount of technology can replicate is the human touch. Personal relationships that provide exceptional customer service are at the core of the broker value proposition.

The value of the broker is, simply put, choice at the point of purchase, advocacy at the time of claim and advice throughout the life of the policy. These three elements—choice, advocacy, and advice—depend on personal interaction and a trust relationship. And they can only be

= assured through independent brokers who work for clients, not for insurance companies. That is what differentiates the broker channel from our competitors.

As technology infiltrates our industry, IBAC’s membership and insurer partners have highlighted the need to restate the importance of the broker distribution channel. I couldn’t agree more, and as president of IBAC, this will be a key priority for me. I believe that by strengthening and promoting the broker value proposition, we can make technology work for us.

IBAC’s position is that technology can enhance broker operations, but not replace them.

Technology and the direct sales channel have some bright and shiny incentives, but consumers need to take a closer look. Sure, you can get an online quote and buy a policy in 20 minutes—but is it the right policy at the best price? You can make a claim, but will you get personalized service from someone who will advocate for your rights and get you the best settlement? And you can renew your policy, but how will you know if it needs to be reviewed or updated? Only an independent broker can provide the choice, advocacy and advice that consumers deserve.

However, consumers are also demanding online services,

26 The Alberta Broker October – November 2017

documentation and communication.

Instead of seeing these demands as a threat, brokers have an opportunity to demonstrate the true value of the broker-client relationship by responding to consumer demands and providing their traditional service and customer care in new ways.

As we transition to a more technologyfocused environment, I envision IBAC as a leading voice in promoting the value that brokers bring to the insurance marketplace and, in helping brokers incorporate technology solutions that enable them to serve their clients better.

I look forward to the year ahead, working with IBAC’s leadership team, membership and insurer partners to ensure that the broker value proposition remains front and centre.

SCOTT TREASURE IB AC President scott.treasure@ treasureinsurance.com

STAND OUT

with Alberta’s brokers by advertising in

Call Michele Schuldaus at: T: 780.910.2601 E: AlbertaBroker@LinkPR.ca

Did You Know...

PYIB will be holding events in 5 cities in December? Come out and join PYIB for some Christmas cheer and some insurance industry-related fun. This will be a great opportunity to renew friendships and contacts and learn a little more about what’s going on in our industry. Details will be posted on the IBAA website, ibaa.ca.

Convention 2018 registration will be opening in October? Next year’s convention is looking better than ever. We recommend registering early to take advantage of early bird prices, more economical hotel accommodations and peace of mind. Get your spot reserved so that you don’t have to worry about a thing later on.

We will be offering 15 hours of continuing education this year at convention!

Two thirds of the people on earth have never seen snow? I don’t know about you, but I feel like I have seen enough snow to last me a lifetime! On the positive side, shovelling snow burns around 8–10 calories per minute. This winter let’s think about shovelling time as workout time and maybe it won’t seem so daunting.

The forest fires in British Columbia have burned over a million hectares this summer? Natural Resources Canada predicts that fire-prone conditions will increase across the country. Over the last ten years, fire suppression costs average about $750 million per year. These costs could be reduced by a reduction in the frequency and severity of forest fires. Let’s all do our best to promote fire safety and fire smarts in our communities.

CAIB

CPIB

“Did You Know” is compiled

by IBAA’s Rikki McBride using information sources from IBAA, all-that-is-interesting.com and Natural Resources Canada.

CCIB

The Trilogy of Excellence for Insurance Brokers

The Alberta Broker October – November 2017 27

Are you deducting enough expenses as an employee?

By Colin Brecht, Partner BDO Canada LLP

U

nder Canadian tax rules, employees can only deduct expenses that are specifically allowed, such as pension contributions (RRSP, RSP), union dues and professional dues. The exception is if you and your employer agree that you are required to pay your own expenses as a condition of employment, and your employer signs form T2200 “Declaration of Conditions of Employment” certifying that this requirement exists. This form is not filed with the Canada Revenue Agency (CRA), but it should be kept by you in case of an audit by the CRA. It doesn’t make sense to agree to pay for all these expenses if it means incurring costs that your employer is already paying. There may be a benefit to deducting these expenses when you are already paying them. Some examples of such expenses would be: • paying long distance telephone charges on a personal phone • cellular phone airtime related to your earning employment income • travel expenses including automobile expenses, if you don’t already receive a tax-free travel allowance. Tax-free travel allowances

are calculated by reference to the kilometres you drive for work and typically paid on a per kilometre basis.

• home office expenses if your home is your principal place of employment, meaning you work more than 50% of the time from your home office.

• meals and entertainment—for commissioned salespeople only.

Let’s explore a few of the more complex expenses above in further detail.

Travel and automobile expenses • Most employers are willing to pay a reasonable amount per kilometre if you are required to use your car for employment purposes. CRA generally won’t challenge a per-kilometre allowance of 48 to 54 cents.

• Compare the amount you receive as an allowance to the amount of deductible automobile expenses you have. If the allowance is higher, don’t include it in your income and don’t deduct automobile expenses. If the allowance is lower, include it in your income and deduct automobile expenses.

Home office expenses • If you own a house or condo in which you have a home office that you

28 The Alberta Broker October – November 2017

use for employment purposes, you can deduct a portion of your utilities and maintenance costs that relate to the business use of your home as supplies consumed in your employment.

• Costs such as property taxes, insurance and mortgage interest are not considered supplies consumed in your employment duties and, therefore, are not deductible.

• If you rent your home, you will be able to deduct a portion of your rent as a cost of renting an office.

• However, if you are a commissioned salesperson you are allowed to deduct a portion of property taxes and insurance that relates to your home office.

Meals and entertainment • Ordinary employees can’t deduct anything as an employment expense and hopefully your employer reimburses you for these costs.

• Commissioned salespeople, however, have more flexibility and as such are able to deduct meals and entertainment expenses; however, only 50% is deductible.

So what do you need to do to become a commissioned salesperson?

• Consider renegotiating your salary package so that at least some of your income is based on the revenue you produce. Make sure your employer reports your commission income separately as a commission on your T4.

Otherwise CRA will question your expense deductions as a commissioned salesperson.

• You will have to assess whether this makes sense for you and if you are willing to accept the risk that a part of your remuneration package is based on the sales you produce.

• You’ll also have to consider the amount of expenses you currently have to pay that would become deductible if you become a commissioned salesperson.

• If you can rearrange your affairs, you’ll be eligible to deduct expenses as a commissioned salesperson.

This material is for educational purposes only. As it deals with technical matters which have broad applications, it is not practical to include all possible situations.

For this reason a particular fact situation should be reviewed by a qualified professional.

Although every effort has been taken to prepare this material, no organization or person involved with this material accepts any legal responsibility for its contents or any consequences from its use.

3rd Annual PYIBonspiel Extravaganza 3rd Annual PYIBonspiel Extravaganza

What documentation do I need to keep for expenses?

• Keep track of your expenses in an organized fashion.

• Keep your receipts and document why the expense was incurred.

For example, if you take someone for lunch, write who you took and why on the receipt.

• Keep a logbook of the number of kilometres you drive for business purposes.

Are there any other benefits to consider?

• You may be eligible for a GST rebate when you file your personal tax return.

Nov. 3, 2017 Granite Curling Club Nov. 3, 2017 Edmonton, AB

Granite Curling Club Registration Now Open!

Edmonton, AB Register Your Team Now

Registration Now Open! www.ibaa.ca/events

Don’t put those brooms away after Halloween, you’re going to need ‘em!

Register Your Team Now www.ibaa.ca/events Don’t put those brooms away after Halloween, you’re going to need ‘em!

The Alberta Broker October – November 2017 29

Who? What? Where? Michelle Hammel

BROKER NEWS Congratulations to Sherif Gemayel who was named as an Ernst & Young “EY Entrepreneur of the Year” regional finalist in the business-to-consumer products and services category.

Ed Sikorski, Chris Sikorski and Brian Jardine, formerly of Arthur J Gallagher, have opened Magna Insurance Corp.

Pinks and Plates based in Chestermere has closed its Calgary locations.

Rod Fox, former account executive for Western Financial Group, has moved to Lakeview Insurance Brokers.

GIVING BACK

COMPANY NEWS Economical Insurance announced that board chair John Bowey will replace David Wilson as chair of the special committee on demutualization.

Mr. Wilson will be retiring September 1 and will be replaced on the board by Jay Forbes.

Jenn Plumb of Aviva Canada was recently promoted from casualty specialist to commercial manager.

Brent Buchan of Intact Insurance accepted a new role as director of corporate commercial lines.

Ken DeDecker, formerly of Intact Insurance, joined Wawanesa Insurance as its director of specialty lines.

A founding member, Darren advised me that the sport was experiencing a resurgence and that three to four new games were created each year versus one every three-five years in the past.

How do you disconnect from our interesting, but sometimes demanding, industry?

CONDOLENCES We are saddened by the loss of Denise Lang after a courageous battle with cancer. Denise most recently worked for AXA, Intact and WFG. She had a positive impact on many people throughout her career and will be missed.

INDUSTRY PARTNERS Congratulations to Paul Davis Red Deer for winning the central Alberta Canadian Home Builders Association 2017 service professional of the year award.

MICHELLE HAMMEL Regional Operations Director Intact Insurance Company

I want to recognize Tom Sims of Sims and Associates for his work with the Gord Bamford Foundation. The foundation recently achieved a milestone of over $3 million raised for youth programs. A believer in supporting the community where he works, Tom encourages all his staff to get involved in local charities and events. “It is important to support the community to ensure that it thrives and to make it a better place,” says Tom.

michelle.hammel@intact.net

WORK-LIFE BALANCE Recently I was speaking with Darren Krywolt of Krywolt Insurance Brokers about how he spent his weekend.

He advised me that he and his team recently won the AB Cup Challenge, a pinball competition between Edmonton and Calgary leagues.

Who knew there was a league of Calgary pinball enthusiasts?

30 The Alberta Broker October – November 2017

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