Canadian Commercial Lines Exchange
Insurance
Toronto, Ontario 1,299 followers
Consolidation without consolidating
About us
WHY? Canadian Commercial Lines insurers are struggling to find enough data to properly price and underwrite their business. Historically, statistical plans were available to pool data together, but through the years, this data has been eliminated or become very limited. The acquisition of additional third-party data for commercial properties and businesses in Canada can also be challenging due to limited availability and high costs. MISSION: “Provide Canadian commercial lines insurers a platform to share and access data about commercial risks that will help them improve their competitive position in the market.” APPROACH: Using a comprehensive data management approach (REAL), build the CCLX Ecosystem (COBRA roadmap) and “Brick by Brick”* Risk Profiles (COMPLETE Scouting Reports) for all Canadian commercial properties and businesses. * “Brick by Brick” approach consists of continuously adding time-stamped information as it becomes available.
- Website
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http://cclx.ca
External link for Canadian Commercial Lines Exchange
- Industry
- Insurance
- Company size
- 2-10 employees
- Headquarters
- Toronto, Ontario
- Type
- Privately Held
- Founded
- 2020
Locations
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Primary
Get directions
Toronto, Ontario, CA
Employees at Canadian Commercial Lines Exchange
Updates
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What's the story? The story in this graph for Commercial Auto shows how the two most popular Collision Deductibles - $500 and $1000 have been trending (as a percentage of all Collision Deductibles) from 2018 to 2022 for both the Industry and a sample company. Also included are the industry Loss Ratios for those same Coverage/Deductibles. What you see is that the Loss Ratios for $500 Deductible are getting closer to the $1000 Deductible Loss Ratios. Are you adapting to this change by changing your marketing strategy to create a shift in the Deductible selection by your customers. This is a simple analysis that can be done with the data you currently have free access to. Your can take advantage of Indatech's new QuickView service (IQV) to get quick results. Your data acquisition costs: zero Your data preparation effort: zero Your resource requirements: zero To find out more, contact Roch Lacroix, Indatech and CCLX Managing Principal, at rlacroix@indatech.ca or (416) 720-1498.
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The 3rd annual CCLX market survey is now underway. The purpose of the survey is to provide industry participants with estimates of what has been identified so far in 2023 regarding Commercial Lines changes in Claims Frequency and Loss Ratio and what they expect to see in 2024 regarding Rate Changes. Results are tabulated by Major Industry Class, such as Manufacturing, Retail, etc., as well as by Province/Territory. As reference, attached is a copy of the survey that was recently sent out to Canadian Commercial Lines insurers. Feel free to reach out if you would like to know more.