New quote-to-bind insurance provider hits Ontario

Aha Insurance currently provides auto insurance but will soon provide home coverage

The Canadian auto insurance market has a new digital quote-to-bind service in the form of Aha Insurance, which is currently licensed to operate in Ontario.

The fully online insurance provider allows customers looking for auto insurance to receive a quote, purchase and fully manage their policies online without human intervention unless the customer requires assistance. The company plans to expand to providing home insurance in the near future.

Related: Insurance one of most common uses of FinTech in Canada

The company will operate in Ontario for now but there are aspirations to grow the business to other provinces, said Tanya Peretti, chief marketing officer, in a note to Canadian Insurance Top Broker.

Aha is touting its omnichannel communication tools that allow customers to move from online chat to a call centre conversation without the repetition of information and no additional forms to complete.

“Our industry has been slow to respond to evolving consumer expectations and buying habits not just in the retail world, with offerings like Amazon, but also in financial services, exemplified by the emergence of companies like [investment robo-advisor] Wealthsimple,” said Steve Livingstone, Aha Insurance CEO, in a statement.

Related: Going digital

Aha Insurance demonstrates that the customer can get what they truly expect today, in the home and auto insurance space, and we are excited to take on the opportunity and challenge,” he added.

The Waterloo-based service is backed by Ignite Insurance and Ignite Holdings, an investor in financial services start-ups.

Copyright © 2017 Transcontinental Media G.P.
Transcontinental Media G.P.