‘We’re in it for the long run’
IN Partnership with
Intact reveals how it’s balancing growth, pricing pressure, and underwriting discipline as Canada’s commercial market softens
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THE P&C market is big business in Canada. Data from InsurEconomy 2026 report puts the P&C insurance industry’s 2025 contribution to Canada’s GDP at nearly $32 billion – accounting for a total economic impact of over $53 billion.
Within that sector sits commercial lines, a highly competitive market that’s undergoing immense upheaval – from changing customer expectations to the influx of innovative technology. Speaking to Insurance Business, Raj Mohindra, vice president, commercial lines, Ontario, at Intact, explained that the current softening market means success here isn’t purely about growth – it’s about maintaining performance.
“Growth remains important, but at Intact we’re focused on growing sustainably,” he said. “Commercial lines is intensely competitive. Brokers have more options, customers are more price-sensitive, and businesses are being taken to market more often. This pushes insurers to think more creatively, be more solution-oriented, and broaden their appetite as they compete for new and existing business.”
Intact Insurance is Canada’s largest home, auto, and business insurance company, the choice of more than four million consumers. Its coast-to-coast presence and strong relationship with insurance brokers mean the company can provide the outstanding service, comfort, and continuity customers deserve. Intact Insurance is a member company of Intact Financial Corporation (TSX: IFC), the largest provider of property and casualty insurance in Canada and a leading provider of specialty insurance in North America.
AI, a beneficial tool
of underwriting executives feel more enthusiastic about the industry’s future, thanks to AI
“Commercial lines is intensely competitive. Brokers have more options, customers are more price-sensitive, and businesses are being taken to market more often”
Raj Mohindra,
Intact
Building a book that holds up for the long term The cyclical nature of the market means it never rests too long in one state. As the Canadian market begins to soften, there are challenges and opportunities on the horizon – and for Mohindra, there’s real market share to gain in the months ahead.
“Our scale gives us options,” said Mohindra. “A risk that doesn’t fit one segment may find a solution elsewhere across our commercial or specialty divisions. The market will eventually go through different cycles. Underlining our decisions is a focus on long-term outperformance.”
This long-term view shapes where Mohindra sees room to grow.
“Opportunities exist across the market,” he told IB. “Growth isn’t concentrated in one segment or class; it comes from understanding where we can responsibly deploy more capacity. We work closely with our actuarial and underwriting teams to identify areas where the risk and market conditions support further growth. The strongest insurers will be those that can recognize those opportunities and respond with discipline.”
For Mohindra, the need for discipline plays out well beyond Intact’s own book.
“Everyone is feeling the pressure of the soft market, including brokers whose commission revenue is also under strain,” said Mohindra. “At Intact, we’re using our integrated capabilities to ensure our pricing reflects the risk, to retain quality business, navigate the current cycle, and, ultimately, build a book that holds up for the long term.”
‘Brokers want to choose the path of least resistance’ For Intact, helping customers goes way beyond just offering them a good deal – it’s the aid, support, and expertise the company can offer when the worst occurs. And, as Mohindra told IB, success in the coming months means working with its broker partners to continue to deliver value-added solutions and navigate the complex market with sustainable growth strategies.
“It all comes back to ease of doing business,” he explained. “Brokers want to choose the path of least resistance – they want a market that’s easy to work with. Crucially, that doesn’t mean a market that says yes to everything; it’s a market that’s responsive.
“At Intact, ease of business isn’t just a slogan. It means speed,
Published November 2, 2026
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“Ultimately, insurance is an ecosystem of partnerships, and as we navigate different market cycles, what remains consistent is our focus on supporting our broker partners so we can continue to win and grow together”
Raj Mohindra,
Intact
99%
say that the technology has led to stronger underwriting decisions
92%
agree that AI helped teams to process a greater volume of submissions
85%
Source: Sixfold
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Fast, experienced support with Intact
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AI as an enabler, not a replacement Technology has supercharged the underwriting world, taking it from a mere profitability tool to a verified growth engine for insurers. Data from Sixfold found that 99 percent of underwriting executives feel more enthusiastic about the industry’s future, thanks to AI, while 92 percent added that the technology has led to stronger underwriting decisions, and 85 percent said AI helped teams to process a greater volume of submissions.
Mohindra agreed, explaining that this technology is making routine transactions faster while simultaneously helping experts make better decisions. However, he warned, it should never be used as a replacement for human judgement in commercial insurance.
“Technology is already changing the small commercial experience … self-service quoting, quote-to-bind capabilities, policy changes, improved rating tools, and removing administrative work. In these simpler, more standardized segments, brokers now expect to be able to complete transactions quickly and diligently.
“However, technology does not replace the fundamentals that brokers and customers rely on – underwriting expertise, judgement, accountability, and the building of real relationships. Technology enables us to move faster and work more effectively, but it’s the trust, loyalty, and relationships we build with our broker partners that will carry us forward and drive growth.”
And the sector concurs. Research from ISG found that while 83 percent of insurers support using AI for the execution of routine tasks, just six percent said they’d trust a general-purpose AI model alone for high-consequence underwriting and claims decisions.
Partnerships over price Intact understands that customers expect more than just the lowest price out there; they expect a human-led approach that hinges on real partnerships and relationships – a key value of the company. As Mohindra told IB, the current soft market means customers have more choice – and they’re selecting their partners on more than just price.
“The value of insurance is often only realized when something goes wrong,” he told IB. “The concept of insurance can be seen as strange sometimes – you pay for something that you don’t expect to, or want to, use. As a
market, I think we’re fixated on the premium, but we must remember that our customers are buying protection, expertise, and the ability to recover.
“The lowest quote doesn’t necessarily mean the best value. Customers need to understand the coverage being provided, the service behind it, and the insurer’s ability to respond when there is a loss. With so many options, customers are also shopping for brokers. This means it’s not only the insurers that are on the back foot but brokers as well. To stay ahead, it’s critical for brokers to build and maintain strong relationships with carriers who can help them deliver value to their customers.
“The real test of an insurer is what happens after the policy is purchased, when the customer has a claim and experiences disruption, damage, or uncertainty. That’s the purpose of our business and the reason why we’re here. And this is where we like to think Intact shines: in situations where we can help indemnify people and get them back up to speed.”
clear ownership, practical processes, and solving brokers’ problems. Winning, for us, is being solution-oriented for our broker partners. We understand that brokers are under intense time pressure – they’re managing more submissions, more customer demands, more expectations for immediate answers.
“In this environment, service is not just about responsiveness – it’s not creating unnecessary work by adding unnecessary questions. Service means being attentive to the signals and conscious of the broker’s perspective and ensuring that we’re asking pertinent questions.
“For larger customers and larger accounts, ease of doing business means giving the broker a clear point of contact, setting expectations, understanding the risk, and staying engaged throughout the entirety of the process.
“Ultimately, insurance is an ecosystem of partnerships, and as we navigate different market cycles, what remains consistent is our focus on supporting our broker partners so we can continue to win and grow together.”
2,000 broker relationships across Canada
