TD ushers in online insurance buying

The online offering adds 'confidence' to TD's brand pillars of comfort and convenience

imgWhen it comes to purchasing financial services and products online, innovation means keeping the process as simple as possible. It’s in that spirit that TD Insurance launched its national ‘buy online’ platform to offer qualifying Canadians from coast to coast the ability to purchase home and auto insurance policies from the comfort of their PC or smartphone.

According to Raymond Chun, president and CEO of TD Insurance*, savvy insurance customers want the option to research, compare and buy easily online. “Our digital approach to quotes and purchasing is clearly focused on making it easier for Canadians to be well-informed on insurance, and seamlessly enroll to get the home and auto coverage that best suits their needs.”

TD Insurance is reimagining a digital experience that is personalized and transparent, allowing customers to be in control and stay informed throughout the process. Digital self-serve capabilities, artificial intelligence and advanced analytics enables TDI to offer seamless, omni-channel, real-time transactions integrated with the platforms customers are using.

While digital transformation has been underway for a while now, it’s taken on greater urgency in the pandemic as public health measures encourage many Canadians to stay at home as much as possible. Chun explains that 2020 has shown that buying home and auto insurance direct online, without an in-home or office visit, is now a necessity for Canadians. “Ultimately, our primary purpose is to forge deeper connections with our customers through the even more personalized, connected experiences that they’ve come to expect from TD Insurance.”

As symbolized by its iconic ‘green chair’, the TD brand has long been synonymous with comfort and convenience. The trust earned by living up to that promise allowed TD to add confidence to its key attributes, so as the brand innovates to reimagine the customer experience, a guiding principle remains never compromising on that hard-won trust.

Building on that, TD Insurance has invested in a number of customer-centric innovations. When 88,000 people were forced to evacuate their homes after wildfires ripped through the town of Fort McMurray in 2016, TD Insurance was able to deploy state of the art satellite technology to assess the damage. It also introduced real-time status updates for residential claims.

For drivers, TD Insurance enabled photo-based estimating, allowing them to take pictures of their damaged vehicle after an accident, and also enhanced the back-end digital process with semi-automated emails and SMS messages for claims.

The customer convenience-driven innovation investment is also proving to be a key point of brand differentiation. One strong competitive advantage for TD Insurance is its 19 Auto Centres across Canada, providing customers with a convenient stop for claims advice, vehicle repairs and car rentals.

Investing in digital is an always-on endeavor, requiring dedicated teams constantly focused on improving the online customer experience. As the leading direct and affinity insurance group in Canada, TD Insurance is well positioned to leverage its strong brand and respond to customers’ growing digital competency by making substantial investments in digital acquisition and self-service capabilities. By doing so, it plans to leverage its number one status to become the leading digital insurer as well.

*TD Insurance refers to the following personal lines insurance companies: Security National Insurance Company, Primmum Insurance Company, TD General Insurance Company and TD Home and Auto Insurance Company, all of which are subsidiaries of the Toronto Dominion Bank.