Winning in a changing world
Software and data are transforming the way we live. Canada is one of the top five most connected countries in the world. Seven in 10 Canadians have a smartphone. Ninety per cent of our population uses the Internet. These changes are having a profound impact on how people interact, share and live. We need to continue to challenge the status quo and innovate to stay ahead of our customers’ expectations.
We are using technology to design relevant products and provide options for customers to connect with us. Our Intact Service CentresTM offer Intact Insurance and belairdirect customers a simpler and more convenient process when they have an auto claim. Our quick quote and home quick quote tools provide customers quotes in minutes. In parallel, Intact Insurance’s Buy Online strategy continues to grow and generate new business for brokers.
We are centralizing our experts and data, and adding talent, to help us improve our margin, grow our book of business and improve the customer experience. The Intact Data Lab explores new sources of data and uses it to expand our competencies in artificial intelligence.
We have had good success from our telematics product. The data is 30% more powerful than what had previously been our most predictive variable. More than 350,000 drivers have participated in the program so far.
To strengthen our systems, we invest more than $100 million annually in software development. At the same time, we are investing in and developing relationships with research institutions and universities to stay on the cutting edge of advancements in technology.
At Intact, we are accelerating our learning by working with disruptors. Through Intact Ventures Inc., we partner with companies that have the potential to redefine the P&C insurance landscape with innovative business models and new technology. Our plan is to invest about $300 million over the next few years. In Brazil, for example, we have invested in one of the country’s leading digital insurance brokerages. In the U.S., we are invested in Metromile – a pay-per-mile insurance company that is changing the way people insure themselves.
Our strategic partnerships, combined with the investments we are making in data and software, will help us improve how we serve customers and deliver a second-to-none experience.
We remain committed to addressing climate change, one of the most significant issues facing Canadians in the coming decade. We have expanded our offer to help Canadians protect themselves from natural disasters and are seeing solid growth as a result. Our investment in the Intact Centre on Climate AdaptationTM continues to foster innovative solutions to help reduce the physical, financial and social impacts of extreme weather on Canadian communities.