"Chronicle" weekly newsletter - Where insurance and technology meet

JUNE 13, 2017

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Consumers Embracing UBI, Connected Cars
More than half of all drivers say they are likely to buy a new or pre-owned vehicle equipped with new technology features in the next two years, according to Willis Towers Watson's U.S. consumer usage-based auto insurance (UBI) survey. Read more.

CSIO Announces eSlip Digital Delivery Solution
The Centre for Study of Insurance Operations is pleased to announce an industry solution for the digital delivery of proof of auto insurance cards, or eSlips. Read more.

InsurTech, Commercial Lines Surge: SMA Report
There's a lot of news and noise about InsurTech, and a growing body of InsurTech activity is relevant for commercial lines, while it seems that the pace of new startups and the progress of previous startups has picked up. Read more.

Is The IoT ‘Value Proposition’ Valuable Enough For Commercial Insurance?
The Internet of Things has caught the imagination of the property & casualty insurance industry. Telematics for personal auto insurance is becoming a standard offering. But adoption of IoT-based products for other lines of insurance is proceeding much more slowly. Read more.

Economical Simplifies Business With Changes To Legal Entities
As Economical Insurance continues its journey to become a public company, it is migrating to a simpler legal entity structure while continuing to offer a wide range of products and excellent service to broker partners and customers. Read more.

Applied Systems Launches Predictive Quoting For Rating Services
Applied Systems has announced the general availability of predictive quoting for Applied Rating Services, Canada's leading comparative rating service for the insurance industry. Read more.

Approved Surety Program Enhances Contractor Bonding Limit
Approved Surety & Casualty is pleased to announce the launch of Approved Capital, a capital disbursement program for brokers that will allow their contractor clients to qualify for higher bonding limits while providing surety markets with extra security. Read more.

SouthEastern Mutual Joins MCCG Community
SouthEastern Mutual Insurance Company has partnered with MCCG by selecting the Insurance Business Solution (IBS) for their enterprise back-office solution and joining the MCCG Client Community. Read more.

Sharp Mobile Integration Promotes Broker Channel
Sharp Mobile Technology and Zycomp Systems are pleased to announce a new integration that will enhance brokers looking to provide best-in-class service. The new functionality will give brokers more access to data, better insights and analytics both in the iMobilebroker and Power Broker platforms. Read more.

The Co-operators acquires Assurance Auclair
The Co-operators General Insurance Company is pleased to announce that it has purchased Assurance Auclair, located in Quebec City. The brokerage's portfolio includes personal and commercial insurance policies. Read more.

The Edge Launches New Health & Dental Plan
The Edge Benefits is pleased to announce the launch of a new health and dental plan into the Canadian insurance marketplace which allows clients to build a plan to suit their needs and their budget, starting with an affordable base guaranteed issue plan and layering in additional benefits as needed. Read more.

Record Catastrophic Claims In Western Canada Stress Home Insurers
A record year for catastrophic disasters has put Canadian home insurers to the test, and a spike in major claims has created significant challenges for insurance carriers, according to the J.D. Power 2017 Canadian Home Insurance Study. Read more.

Opta Launches Wildfire Grading Index
Fire Underwriters Survey, a division of Opta Information Intelligence, has studied recent catastrophe events and developed the Wildfire Grading Index, a new model for insurers to better understand the risk of wildfire-related losses. Read more.

Three Surprise Reveals At Fast Forward Event
At this week's Fast Forward, Gore Mutual delivered on its promise to bring industry experts and brokers closer together through trust, cooperation and innovation to deliver real solutions to a sold-out audience. Read more.

The Intersection: Blog

What's going through the Intersection
of insurance and technology?

Cyber Risk: The Mother of Innovation
For the last two decades, insurers have introduced products intended to respond to cyber risk, but the offerings have lagged behind the technology risks. As we enter the new era of the Internet of Things, the risks will expand exponentially, but so will the opportunities. Are we ready? Read more.

“Insurance: Connected”
2017 Executive Forum
Tuesday, August 29, in Toronto

InsurTechs are extending innovation throughout the insurance sector, creating a competitive threat to incumbents but also potentially valuable opportunities for partnering.

Challenge your thinking on “InsurTech: A Threat That Inspires” with Ido Segev, Partner, McKinsey Insurance Practice, as he shares insights from their analysis.

Register today for early-bird savings.

Mark your calendar for Tuesday, August 29!

ICEF2017: 'Insurance: Connected' - 5th annual Executive Forum - August 29, 2017

From Doug

It was a beautiful weekend for a drive to Stratford, Ontario, for a pair of stage plays.

The Virgin Trial is about Queen Elizabeth I at age 16, interrogated in the midst of royal, political and sexual intrigue.

In the tragedy The Changeling, a woman attempts to escape an arranged marriage for love of another man, but her machinations bring about her downfall.

We see similarities in the InsurTech space: competition, intrigue, manoeuvring, winners and losers – but unlike a Renaissance play, this is for real, and the stakes are high.

Doug Grant, CIP

Doug Grant

View the 2017 Technology Conference on-demand! Get access now.

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