The Chronicle: Issue 2016-19, May 10, 2016

What's Going Through The Intersection of Insurance and Technology?

Kanetix and ClientDesk to Offer New Insurance App Solution
by Monique Huston, Kanetix Ltd.
With technology continually revolutionizing the way people communicate, the relationship between company and consumer is also changing at a rapid rate. The insurance industry is not immune to the evolving expectations of consumers, and the recent partnership between Kanetix Ltd. and ClientDesk Inc. will help insurance providers to connect with their clients in ways they've come to expect from leading service providers.

Insuring the Digital Economy (Part 2): A Slice of On-Demand Insurance
I recently suggested that the the digital economy offered opportunities for new revenue – but this would require insurers to look at new models. Let's look at a different model which meets specific features of the new economy and promises real disruption. Slice Labs Inc. is an insurtech startup which has developed what it claims is “the world's first on-demand insurance platform to support the on-demand economy.” Slice's first product is an on-demand offering for ride-sharing drivers.

The Intersection: Blog
The Intersection

an Blog

Business of Insurance

J.D. Power study: Canadians' auto insurance satisfaction improves for the first time in five years
Customer satisfaction with auto insurance in Canada increases for the first time in five years, according to the newly released J.D. Power 2016 Canadian Auto Insurance Satisfaction Study. The increase in overall satisfaction comes at a time when there is a significant amount of consolidation in the market. The study, now in its ninth year, measures customer satisfaction with primary auto insurers across five factors: non-claim interaction; price; policy offerings; billing and payment; and claims.

Economical drives insurance industry innovation
Economical Insurance activates multichannel distribution with the launch of its direct business, Sonnet Insurance Company. Sonnet brings an innovative new insurance experience to Canadians who prefer to purchase insurance directly online.


Insurance Institute report: Preparing for driverless cars
Semi-automated and driverless vehicles will soon be driving our roads, and Canada's insurance industry can help drivers, regulators and other stakeholders prepare for the change, according to a new Insurance Institute research report.


Bain Capital and Vista Equity Partners acquire Vertafore from TPG
Vertafore has announced that funds affiliated with Bain Capital Private Equity and Vista Equity Partners have entered into a definitive agreement to jointly acquire the company from TPG Capital.

Willis Towers Watson: Grenville Mutual has expanded BrovadaOne platform service offering
Willis Towers Watson, a leading global advisory, broking and solutions company, has announced that Grenville Mutual Insurance has expanded its BrovadaOne solution services to now include commercial lines automation, with quoting and new business uploads.

Applied Systems releases Applied Epic to the French Canadian Marketplace
Applied Systems has announced the release of Applied Epic to the French Canadian market. Purpose-built for insurance brokerages, Applied Epic provides users a single view into their entire book of business, enabling them to automate business operations and effectively service their insured in the user and consumers language of choice.

Policy Management

FIRST Insurance Funding of Canada announces partnership with CNA
FIRST Insurance Funding of Canada and CNA have announced a new partnership in which FIRST Insurance Funding will provide innovative payment solutions for CNA's Canadian customers.

Lawyers Mutual of North Carolina selects ISI Enterprise
Insurance Systems Inc., a leading provider of enterprise solutions for the property and casualty insurance industry, is pleased to announce that Lawyers Mutual of North Carolina has selected ISI Enterprise for its core system transformation. LML's selection of ISI's fully integrated policy administration solution demonstrates a commitment to automating their daily processes in order to better serve the lawyers of North Carolina.

Creechurch Underwriters in production with Oceanwide's Cyber Risk Assessment Tool
Oceanwide has announced that Creechurch Underwriters is now in production with Oceanwide's Cyber Risk Assessment Tool for assessing cyber risks for the company's brokers and insureds. With the Oceanwide solution, Creechurch will offer the assessment to consumers through their broker. Due to the ease of use offered with the tool, there is no need for additional training and no complicated registration.


J.D. Power study: Auto insurance shoppers' channels of choice are digital
Insurers that lead in digital shopping channels also lead in premium growth, according to the newly release J.D. Power 2016 U.S. Insurance Shopping Study. Now in its 10th year, the study measures auto insurance shopping, purchase behavior and purchase experience satisfaction among customers who recently purchased insurance.

Consumer Information

Aviva Canada develops insurance solution for ride-sharing in Quebec
Responding to the growing trend of ride-sharing services and the need to protect both passengers and drivers, Aviva Canada one of the country's leading providers of home, automobile, leisure/lifestyle and business insurance – is pleased to have developed an affordable and convenient insurance product that would bridge the insurance gap in Quebec, if the government decides to allow ride-sharing programs. Unlike carpooling, ride-sharing drivers and passengers are not covered by their personal automobile insurance policy in case of a claim.

Manulife to increase testing limits to $1M for insurance policies
Manulife has announced it will underwrite term life insurance policies without the need to meet with a paramedical to gather blood, urine and other biometric data for policies up to CAD$ 1 million for eligible applicants between the ages of 18 and 40 in most cases.

IBC shares top 10 tips for Emergency Preparedness Week
As Emergency Preparedness Week begins across Canada, Insurance Bureau of Canada wants everyone to be aware and be prepared. Whether it's a tornado, torrential rains or an earthquake, IBC stresses that every household needs an emergency plan, which can make all the difference. In fact, it's not when the roof blows off or the earth shakes that you need to think about it.

SGI and police focus on impaired driving in May
Impaired driving is the traffic safety spotlight for the month of May. Throughout the month, police will be watching for drivers under the influence of alcohol or drugs. Impaired driving remains the number one contributing factor in fatal collisions in Saskatchewan.

The Co-operators: Community projects funded to mark National Wildfire Community Preparedness Day
Hundreds of millions are spent annually on suppressing wildfires, and changing climates and development trends are making the problem worse. Thirty projects, including one in the area currently affected by fire, received funding for local mitigation efforts to protect homes and communities.

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