Cutting the Red Tape: IBC’s submission for Ontario’s Red Tape Challenge

IBC recently conducted a review of Ontario legislation and regulations and found that there exist a number of provisions that prevent consumers from realizing the benefits of new technology and that limit insurers’ ability to innovate. Among the most notable examples is a prohibition on electronic proof of auto insurance. While 47 U.S. jurisdictions now permit drivers to present their proof of auto insurance cards to police officers electronically on their smartphones, no Canadian jurisdiction yet allows this practice. Similarly, Ontario has many rules in place that prevent electronic communication between insurers and their customers.

Ontario has an opportunity to be a Canadian leader in creating a consumer-friendly insurance regime. Consumers are embracing technology and incorporating it into their everyday activities. They expect their institutions to do the same.

To read the full submission, click here.