The Ontario Broker - Volume 22, Issue 5 - 20

INDUSTRY & MARKETS
ASK AN EXPERT:
WHAT A.I. CAN TELL BROKERS
ABOUT THEIR CLIENTS
Erin Kelly, President & CEO, Advanced Symbolics Inc.
compared with insurance
received through brokers, with
consumers voting the latter to
be significantly superior when
crisis hit.
Three pivotal events in
2022 served to impress upon
policyholders the value of having
a broker who is a knowledgeable
expert in her field.
R
20
ecent innovations in market research and
engagement make it easier for businesses in
every industry to measure customer sentiment
in real-time and even test market messages
before publishing them. These capabilities have
been enabled by the ability to do statistical
modelling on social media populations, a feat
that wasn't possible until very recently. Now, with the ability to
construct representative samples, select A.I. research companies
can accurately assess customer opinion. With added data from
customers-combined with these social samples-we can
accurately forecast sales and other outcomes as well.
What our A.I. Polly™ discovered when she turned her digital
gaze to conversations on insurance should be welcome news to
every insurance broker-a number of conversations focused on
the expertise of insurance brokers. Many of the consumers were
speaking about insurance packages they received from banks
The first conversation was
spurred by the invocation of
the Emergencies Act after the
Freedom Convoy occupation of
Parliament Hill in January and
February 2022. On February
14th, the federal government
invoked the Emergencies Act,
which sowed confusion among
truckers as to whether their
vehicle insurance was still valid.
While only affecting a minority of
commercial vehicle owners, this
was a loud cohort who shared
their lives on social media. Insurance representatives who were
responsive and knowledgeable quickly stood out from providers
that were not. And while no one had all the facts early on, being
responsive and working hard to provide alternatives for clients
really stood out and got airplay. Consumers, even those who were
not affected by this legislation, were taking note.
The next two events in 2022 that pushed up the conversation
regarding insurance policies were the derecho that hit in May
and the disastrous travel experiences that hit Canadians through
the summer of 2022. The derecho for obvious reasons-so many
homes and cars were damaged that insurance companies were
overwhelmed. To add insult to injury, supply chain problems meant
that loaner cars were hard to come by and skilled trades were in
short supply. People with great insurance programs got better
support: longer car leases when their car took longer in the shop
and longer stays at secondary accommodations while they waited
THE ONTARIO BROKER
The Ontario Broker - Volume 22, Issue 5

Table of Contents for the Digital Edition of The Ontario Broker - Volume 22, Issue 5
