Looking ahead: The future of E&O
In an interview with Canadian Underwriter, Trisura’s vice-president of specialty insurance solutions, Marilyn vanGansewinkel, highlighted what the future of errors and omissions insurance might look like. She believes, because “society [has] become more service-oriented,” we will see the following three new areas of growth for E&O:
Technology:
As IT continues to develop, and we rely more on artificial intelligence and insurtechs, vanGansewinkel explains, “you are going to see a lot of professionals who are required to do the programming behind the scenes, and fix things when they don’t work out well.” Within this area, she also anticipates there will be more emphasis placed on system database management.
Health care:
“I think we are going to have a lot of opportunity in the aging population’s health care,” vanGansewinkel explained. Due to the significantly large number of seniors (in 2016, Statistics Canada reported there were 5.9 million Canadians older than 65 years of age and 5.8 million Canadians aged 14 and under), vanGansewinkel expects to see an enhancement in health care service offerings in specialized care facilities and home care.
Environment:
The growing concerns around the effects of climate change and other environmental events are stressing a need for E&O to focus on the environment. As we look to experts to advise us on key factors, such as recycling and water shortages, the underwriter’s role will be to analyze an environmental professional’s credentials.
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Katrina Myhal was promoted to senior analyst of e-commerce solutions last year. In this role, Myhal’s focus is to improve Trisura’s user experience. She completed a user experience design course and is putting her new skills to use in an effort to redesign the online portal user experiences and interface. Myhal is able to contribute to the brand’s long-term digital strategy through her involvement with Trisura’s digital steering committee.
Jonathan Hope is a senior surety underwriter. He has been in the surety industry for 10 years, the past eight of which have been with Trisura. In his current role, Hope is responsible for growth and management of Alberta, Manitoba and Northwestern Ontario surety clients. He also works on strategic planning concerning brokers and client risk assessment, as well as Trisura’s 2019 commercial surety plan. Hope boasts several designations including Associate in Canadian Surety Bonding, the Association of Surety Bond Producers’ Advanced Surety School Level III designation and the Commercial Surety designation.