Canadian Industrial Outlook: Insurance—Winter 2017
The Conference Board of Canada, 12 pages
March 3, 2017
This report examines the short-and medium-term economic and profitability outlook for Canada’s Insurance Industry.
- Insurtech—This is the movement toward more tech-savvy products within the insurance industry. It is forcing incumbent firms to modify their business model, while opening a door for start-ups to disrupt the industry.
- Emerging Markets—The growing middle class in emerging markets represents a major growth opportunity, as many markets remain underserved. While some of these markets may prove difficult to enter, some foreign firms have been successful at tapping these opportunities in recent years.
- Fort McMurray—The Alberta wildfires resulted in a spike in property and casualty insurance claims. Overall claims rose to more than $14 billion during the second quarter of 2016, a 27 per cent increase from the same period in 2015.