Matthew Turack
Group President, CAA Insurance | CAA Club Group
Thornhill, ON, CANADA
Matthew Turack is an executive insurance leader with over 18 years of experience
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Matthew is a dynamic, team-oriented, and innovative President who possesses excellent interpersonal, analytic, and project management skills. Over Matthew’s 18 years of insurance experience, he has successfully led teams of underwriters, actuaries, claims, and sales/service professionals in product design, rate making and the development of risk models.
Matthew has been honoured to speak at many insurance industry events about the organization’s success and experiences in implementing industry-leading technologies.
Matthew holds a Bachelor in Business Management degree; completed the Business Design Program at the Rotman School of Business, and is a Chartered Insurance Operations Professional. He is also currently completing his Certified Accountant designation. On a personal note, Matthew is a devoted husband and father of two girls, and is also an avid golfer.
Industry Expertise (3)
Insurance
Business Services
Corporate Leadership
Areas of Expertise (4)
Management
Strategic Planning
Travel Insurance
Property & Casualty Insurance
Education (1)
Rotman School of Business: Business Design, Business
Media Appearances (22)
CAA Insurance reimagines its brand identity
Strategy Online online
2023-03-21
The new identity falls under the larger CAA Club Group of Company’s updated brand platform, “Driven By Good,” and includes a new brand tagline, positioning and story that is rolling out through an integrated campaign incorporating TV, radio, OLV and social messaging. Much of the new marketing trades on the CAA’s reputation for consumer trust, and aims to “continue to build trust with Canadians,” according to Matthew Turack, group president for CAA Insurance.
CAA Insurance, CAA Club Group of Companies launch wellness app for brokers
Insurance Business Magazine online
2022-10-04
“The last few years have highlighted the importance of wellness at home and in the workplace,” said CAA Insurance president Matthew Turack. “The launch of the Jaunt Wellness App is CAA’s commitment to supporting the overall health and wellbeing of our Brokers by providing them with a holistic approach to health and wellness.”
Canadians thinking differently about their auto insurance
Insurance Business Magazine online
2021-12-01
“MyPace was perfect for the pandemic,” said Matthew Turack (pictured), president of CAA Club Group. “It has helped people save money because they are driving less. We’ve seen the average driving [range] during the pandemic at around the 3,000km mark for people enrolled in the MyPace program […] and people are saving 50-60% on their premiums. [Claim/loss] frequency for us is a lot lower [in MyPace] than any other program we have – it’s about 1.7%. So, the consumers who are enrolled in the program, the probability of them getting into a loss is very low, and therefore we can reflect that back in the rate we charge.”
What’s driving the popularity of pay-as-you-go auto insurance
Canadian Underwriter online
2021-04-16
CAA president Matthew Turack believes his company’s MyPace product, in which insurance coverage is based on distance driven, shows that customers want to go beyond standard auto policies because they all have different needs. When presented with an opportunity to buy a product that better suits their particular needs, clients will jump at the chance to take advantage. “It tells me that people have a variety of different life stages and different usages for their car,” he told Canadian Underwriter. “It tells me that you could drive one car for longer distances and the other car you drive very short distances, or it’s sitting in your garage or driveway. Some people just use their cars to go for groceries or short visits to families. Other people have more than one car and one of them is their ‘joy car’ that they take out on the weekends. The other one is what they drive more for the commute back and forth to work.”
Ontarians race to pay-as-you-drive auto insurance
CTV Toronto tv
2021-02-18
Many drivers have been frustrated with the rising cost of car insurance especially during the pandemic when many people are driving less. President of CAA Insurance, Matthew Turack spoke to CTV Toronto's consumer affairs reporter Pat Foran about CAA MyPace, Canada's first pay-as-you-go auto insurance.
Executive Outlook 2021: Matthew Turack, CAA Club Group
Canadian Underwriter online
2020-12-28
Over the course of 2020, we have seen a fundamental shift in daily habits. Many of our existing office jobs have transitioned to at-home workspaces in the short term. Having P&C products and at-home services that cater to the new reality will drive change. Matthew Turack weighs in on what is in store for P&C Insurance in 2021.
Pay-as-you-go auto insurance coming to Ontario this summer
Insurance Business Magazine online
2018-09-29
“We are now entering a new chapter at CAA Insurance. We believe that insurance should be designed based on individual lifestyles and stages of people’s lives,” said Matthew Turack, CAA president, during the press conference. “People should be able to get the insurance when they need it and at the price that works for them.”
CAA unveils 'pay as you go' insurance
CTV Northern Ontario online
2018-09-24
The Canadian Automobile Association is launching a new policy that allows you to pay for insurance based on mileage.
New Telematics Product For Infrequent Drivers
Canadian Underwriter print
2018-07-31
Clients who select MyPace "will start with a base rate and be charged in 1,000 kilometre increments", CAA Insurance president Matthew Turack said during a press conference.
CAA MyPace Now Available In Ontario
Canadian Auto World online
2018-07-12
“CAA MyPace has been generating a great deal of interest in the market, and we’re excited to offer this new program to Ontario drivers,” said Matthew Turack, president, CAA Insurance Company.
Pay-as-you-go Auto Insurance
CI Top Broker online
2018-06-01
Matthew Turack explains how CAA Insurance’s new product for low-mileage drivers works.
CAA considers launching pay-as-you-go auto insurance in PEI
Insurance Business Magazine online
2018-06-01
“We’re going to work with each one of them individually taking the experiences we have gotten from Ontario… and really look at what is the right fit for each individual province,” Turack said.
Pay-as-you-go car insurance could be possible for P.E.I. drivers
CBC PEI online
2018-05-31
"We're going to work with each one of them individually taking the experiences we have gotten from Ontario … and really look at what is the right fit for each individual province," he said.
Winter tires cut auto insurance claims frequency: CAA
Canadian Underwriter online
2018-05-28
“Claims are reduced when people have winter tires on their cars, especially driving in climates like we have in Ontario,” CAA Insurance president Matthew Turak said Wednesday during a press conference at Toronto Union Station.
CAA introduces pay-per-mile insurance for Ontario drivers
CI Top Broker online
2018-05-23
“People should be able to access the insurance they need, when they need it at a price and payment schedule that works for them,” CAA Insurance president Matthew Turack said in a news release. “CAA MyPace brings Ontario motorists one step closer to that reality.”
Broker training underway for new distance-based auto insurance
Canadian Underwriter online
2018-05-23
“FSCO mandates that we do not reflect the cost related to the device or the billing of the program back to the consumers,” Turak said Wednesday during the launch of MyPace. “None of our costs that the consumer would pay includes any aspect of that it is completely absorbed by us.”
'Pay as you go' auto insurance rolls out in Ontario
The Toronto Star
2018-05-23
“We believe that insurance options should be designed based on individual lifestyles and the various stages of people’s lives,” CAA Insurance president Matthew Turack said Wednesday at Toronto’s Union Station. “People should be able to access the insurance they need, when they need it, at a price and payment schedule that works for them.”
Willis Towers Watson announces CAA Insurance now offering real-time upload of auto and property insurance through BrovadaOne platform
Willis Towers Watson
2016-11-23
"Brovada One streamlines the insurance buying process and allows us to deliver on our promise of service excellence," said Matthew Turack, Division President, CAA Insurance. “We wanted to provide our broker channel with a platform that made it easy to do business with us and demonstrate our commitment to support positive growth through brokers.”
CAA Insurance expands strategic relationships in broker market with appointment of 17 brokerages
Canadian Underwriter
2016-06-16
CAA Insurance Company announced on Thursday that it has appointed 17 “well-known and experienced brokerage firms across Ontario” to provide its customers with more choice. Strive for progress not perfection“The decision to enter the broker market was a simple one,” said Matthew Turack, president of CAA Insurance Company said in a press release. “What distinguishes our unique approach from other insurers is our ability to offer one rate whether customers buy direct or through a broker.”
CAA Insurance Enhances Digital Customer Experience with Guidewire Systems
Insurance Innovation Reporter
2015-09-21
“Our positive experiences with the innovation and quality of InsuranceSuite were important factors in our selection of Quote and Buy Portal and Account Management Portal for Policyholders,” says Matthew Turack, division president, Insurance, CAA South Central Ontario. “We are excited about the added functionality we will be able to offer to our policyholders, which builds on the brand and reputation we’ve established in the Canadian P&C industry.”
CAA to offer coverage for high net worth Canadians
Insurance Business Magazine online
2015-04-02
The Canadian Automobile Association, representing more than six million members across Canada, has announced that it will now offer a tailored insurance solution for high net worth clients called CAA Distinct.
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