Auto insurance in Ontario just stepped into the digital age. Drivers can now carry electronic proof of their auto insurance on their smartphones or other devices. This is a huge deal not only in terms of convenience, but also for security and the environment.
As technology continues to change, so do the ways in which we do things. Where at one time you had to stand in line at the bank, now with a few taps you can do all your banking on your phone. The same goes with retail and the service industry. You can place your Starbucks order ahead of time, or pay for your groceries with ApplePay, all with your phone. The world is already digital and the insurance industry is catching up.
Why the Change?
The big reason for all of this of course is convenience. Instead of rummaging through your glove box for your pink card (if you remembered to put it in there), you can simply pull up your insurance card on your phone. Also, when it comes time for renewal, your card will automatically update. No more misplaced pieces of paper. No more inconveniences. Your card is now tethered to your phone or device.
The switch to digital also benefits insurance companies. By switching to digital, there is actually a potential to cut down on fraud. While modern technology that the police use does a great job at catching fraudulent insurance, there is still a fair amount of fraud happening. Increasingly, there are drivers signing up for a year’s insurance, only to default on payments. However, they still continue to carry their pink cards and will present them when they’re pulled over. With a digital insurance card, however, insurance companies will have the ability to cancel and remove that card should a policy be cancelled.
There is also, of course, an environmental benefit. By using less paper, companies can greatly reduce their environmental footprint. There will be a year’s grace period where insurance companies will still hand out paper cards along with digital, but after that paper will be phased out. However, if you prefer a paper card, you can still request one.
Forward Thinking
The good news for our clients is that Regal Insurance already provides digital pink cards. You’re good to go, we always strive to stay ahead of the curve. If you’re not sure how to access it, or if you have any other questions, don’t hesitate to contact us.
