Most Canadians don't know their stuff
TORONTO, March 5 /CNW/ - It's official: Canadians don't know their stuff
when it comes to home, car and business insurance. So Insurance Bureau of
Canada (IBC) is launching an entertaining campaign to give Canadians the
information they need to properly protect themselves and their possessions. At
the same time, IBC is providing free, downloadable software to help homeowners
and tenants create a home inventory for insurance purposes.
The innovative, web-based campaign is based on the findings of a
comprehensive survey by POLLARA that discovered what consumers know and don't
know about insurance.
Mark Yakabuski, President & CEO, IBC, said: "We have known for some time
that consumers have a tendency to overestimate what they know about insurance,
and the survey shows that Canadians have a long way to go in preparing
themselves adequately against the loss of major possessions. We have,
therefore, developed a targeted campaign to give consumers easy access to
information to help them determine their home, car and business insurance
Mary Lou O'Reilly, Vice-President, Public Affairs & Marketing, IBC, said:
"Part of the challenge was to make consumers want to know more about
insurance. So this campaign takes an entertaining approach and is designed to
give Canadians the information they want, when they want it, through a new
section of the IBC website. We really want to engage consumers in an
interactive way, so we will not be relying on less engaging information
vehicles, such as brochures."
The poll also revealed that many Canadians don't know how much they have
to lose when it comes to their possessions. It found that 95% of Canadians
think it is important to create a personal inventory of possessions for
insurance purposes, but only 35% report that they actually have such an
In response to these findings, IBC is helping Canadians get a handle on
their possessions with free, downloadable home-inventory software called,
"Know Your Stuff." It is now available to consumers at no charge on IBC's
"The fact that so few Canadians have an inventory tells us that most
people don't have a clear idea of how much it would cost to replace everything
they own," said Yakabuski. "We want to help Canadians understand how many
possessions they actually have so they can take steps to protect them. In the
end, this kind of inventory will speed up the claims process and ensure that
policyholders do not shortchange themselves by relying on memory during an
emotional and stressful time."
The home inventory is just one part of the major national campaign IBC
launched at a media conference today. The theme of the web-based campaign is
"If you want to know, here's where to go. ibc.ca." The campaign includes
entertaining TV and radio ads designed to pique consumer curiosity and direct
them to the website where, through an interactive game, they can find out what
they want to know about insurance.
Insurance Bureau of Canada is the national industry association
representing Canada's private home, car and business insurers. Its member
companies represent nearly 95% of the property and casualty (P&C) insurance
market in Canada. The P&C insurance industry employs over 104,000 Canadians,
pays more than $6 billion in taxes to the federal and provincial governments,
and has a total premium base of $35 billion.
To view news releases and information, visit the media section of IBC's
website at www.ibc.ca.
For further information:
For further information: Ellen Woodger, (416) 483-2358 or James
Geuzebroek, (416) 362-2031 ext. 4364