Insurers, Car Makers Collaborate at AIM Conference

Insurance and automotive professionals from across Canada assembled Wednesday in Toronto to attend Insurance Bureau of Canada’s sixth annual Automotive Insurers and Manufacturers Forum (AIM). AIM brings together players in the insurance industry, auto manufacturers and collision repair facilities in order to share valuable 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,” said Henning Norup, vice-president, Information Research and Analysis, Insurance Bureau of Canada (IBC), which sponsored the conference. “Many of the challenges common to both industries are most effectively handled by working closely together.”

Featuring a wide variety of speakers and topics, AIM 2003 highlights included:
·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.

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 percent of the 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.

“Success in any business demands the ability to think in terms of integration,” said Norup. “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.”