IBC’s AIM Conference Brings Together Insurers and Car Makers

May 15, 2003

The opening in Toronto of the Insurance Bureau of Canada’s sixth annual Automotive Insurers and Manufacturers Forum gave insurance and automotive professionals from across Canada a valuable opportunity to share information and ideas on issues of common concern.

“AIM helps us look at the big picture and see that the insurance industry does affect vehicle manufacturers – and vice versa,” stated Henning Norup, the IBC’s VP for Information Research and Analysis. “Many of the challenges common to both industries are most effectively handled by working closely together.”

Highlights of this year’s AIM conference included discussions on:
– emerging trends in managing risk
– consumer perception and industry image
– vehicle safety – an overview of issues and future directions
– trends in vehicle technology
– developments and future trends in insurance crime

The keynote address was delivered by Jim Miller, Vice-President, Corporate Affairs, Honda Canada Inc. The luncheon address was delivered by Stan Griffin, President and CEO of IBC, who discussed vehicle safety and how, through a direct partnership between insurers and auto manufacturers, safety devices have led to huge benefits to consumers by reducing injuries and deaths on our roads.

The IBC’s bulletin noted that, “Canada’s general insurance industry employs more than 100,000 people and writes over $30 billion. The industry protects cars, homes and businesses across the country, with assets of more than $73 billion and has long played an active role in promoting road safety and finding intelligent and effective ways to reduce losses.

“The automotive sector in Canada accounts for about 12% of this country’s manufacturing Gross Domestic Product, making it the single biggest contributor to Canada’s national GDP. Roughly one in seven Canadians is employed directly or indirectly in the automotive industry. Canada is the sixth largest vehicle producer in the world.”

Norup commented that, “Success in any business demands the ability to think in terms of integration. Today’s climate of constant change and fierce competition means leaders must constantly make choices that involve many interrelated elements and consequences. Our objective in holding AIM each year is to spark far-reaching discussions that help lead to improvements in the prevention of insurance crime, in vehicle and road safety and in emerging insurance trends.”

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