Property and casualty insurance group Aviva Canada staged their inaugural 24-hour Broker Hackathon in Toronto last week, with their President’s Club and Digital Brokers, pitting four competing ideas against each other to help facilitate interactions between customers, brokers, and insurance companies, with an emphasis on delivering an improved user experience.
The four finalists were whittled down from more than 60 proposed ideas.
As implied by the competition’s name, teams had 24 hours to turn ideas into a working prototype.
The four competing ideas presented at the Broker Hackathon included:
People’s Choice and Winner: Commercial Catalyst (Excalibur Insurance)
Simple, quick and easy way for brokers and customers to quote and bind small commercial business; a responsive web-based platform that allows brokers integration with Aviva’s rates.
Digital/Mobile Pink Slips (RDA Insurance)
Provide flexibility to allow customers to download pink slips to their smartphone’s passbook/wallet as proof of insurance coverage.
Aviva Intelligence (Excalibur Insurance)
Aviva artificial intelligence chat bot to improve broker and client experience using guided statements and machine learning.
Pop-up Note Templates (Aviva Canada)
Create a common space in the broker portal to capture information that can be shared across the business and assist brokers, underwriters and claims adjusters alike.
“Congratulations to our People’s Choice and Winner, Commercial Catalyst by Excalibur Insurance for their winning idea,” said Jason Storah, Executive Vice President, Broker Distribution. “We’re awestruck and inspired to see all four amazing ideas come to life in just 24 hours. Aviva Canada is committed to backing these prototypes so we can innovate the way we deliver our services to brokers and customers digitally.”
In May, the Canadian Council of Insurance Regulators’ Electronic Commerce Committee issued a discussion paper regarding the digitization of physical proof-of-insurance vehicle papers.
As things stand now in most jurisdictions, Canadian drivers are required to produce these physical documents on demand when asked by law enforcement, or to share information at accident sites, or to present when renewing their vehicle’s registration.
This is another area of daily life that is facing pressure to digitize, with Idaho becoming the first U.S. state, in 2012, to approve digital proof of automobile insurance.
Since then, 43 other U.S. States have adopted similar legislation to allow for some form of Electronic Proof of Automobile Insurance (EPAI).
“The Broker Hackathon idea for Digital/Mobile Pink Slips comes at the most opportune time in light of the recent announcement from Canadian Council of Insurance Regulators (CCIR) approving a plan to introduce an electronic option for proof of auto insurance,” said Karin Ots, Senior Vice President, Regulatory and Government Relations. “This is a good example of how consumers and technology are driving our business forward and the need for agile, nimble regulatory response. We look forward to offering Digital/Mobile Pink Slips to our customers and brokers in the very near future.”
The CCIR approved a plan, following consultations held over the summer, to introduce an electronic option for proof of automobile insurance for Canada, targeting implementation of the electronic option across all provinces and territories during the first half of 2017.
Aviva Canada is a wholly-owned subsidiary of UK-based Aviva plc, which has more than 4,000 employees and on November 12 celebrated its 320th anniversary.