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APRIL 10, 2018

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INSURANCE INDUSTRY NEWS

Leveraging AI For Automatic Image Analysis
Insurance companies consume terabytes of data every day. This calls for intelligent software, smarter and more efficient than a human, capable of processing information quickly, learning independently, drawing smart conclusions, and making recommendations. Read more.

Hub Acquires Shares Of The Benefits Company
Hub International Limited, a leading global insurance brokerage, has announced that it has acquired the shares of The Benefits Company, Inc. Terms of the acquisition were not disclosed. Read more.

Life Insurers Compete on Innovation, Speed
In the hypercompetitive individual life insurance market, product innovation and speed to market are key to growing market share. Carriers are seeking to differentiate themselves through investments in analytics, core systems, and marketing- and service-related technologies. Read more.

3 Ways L&A Insurers Are Smarter Than P&C
For as long as I have been in the insurance industry, L&A insurers have been thought of as being significantly behind P&C insurers in terms of technology adoption and innovation. But today, L&A has caught up – and sometimes surpassed P&C – on many fronts. Read more.

Startups Chosen For InsurTech Growth Program
After an extensive application and selection process for their InsurTech Growth Program, Aviva Canada and OneEleven are proud to announce the startups chosen to participate to develop their projects and drive innovation in insurance. Read more.

New Services For Insurer Connectivity
Applied Systems has announced the launch of its Insurer translation services for Canadian insurers to effectively translate and distribute policy-related data directly into partners' management systems. Read more.

ENCON Launches Commercial Property Insurance
ENCON Group Inc. has announced the introduction of a new Commercial Property Insurance product to be offered as a complement to ENCON's Commercial General Liability (CGL) risks and other business line placements. Read more.

Fleet Complete Launches Video Analytics For Fleet Safety
Fleet Complete, the fastest-growing global IoT solutions provider in the connected commercial vehicle space, has launched Fleet Complete Vision, a powerful mobile video solution designed to improve operational safety and accident management for fleet owners in any industry. Read more.

La Capitale Partners With Google Cloud
La Capitale Insurance and Financial Services is pleased to announce that it has signed a cooperation agreement with Google Cloud to accelerate its innovation strategy and offer its clients secure and high-performing solutions supported by the latest technologies. Read more.

Policy Works To Focus On Growth
Policy Works Inc. is reorganizing to align the company’s structure with its strategic vision. To drive growth, two divisions have been created: one focused on the broker channel and one on strategic partnerships. Read more.

Solera Canada (Audatex) Acquires Fluttrbox
Solera Canada (Audatex) announces the acquisition of Montreal-based Fluttrbox, an emerging provider of on-demand aerial property inspections. The innovative software platform created by Fluttrbox, in conjunction with drone and other aerial technology, delivers granular property detail to insurers, reducing both time and cost in underwriting and claims processes. Read more.

Hub Acquires Shares Of ES3 Insurance Services
Hub International Ltd., a leading global insurance brokerage, announced that it has acquired the shares of ES3 Insurance Services Ltd. operating as ES3 Advisory. Terms of the acquisition were not disclosed. Read more.

Navacord Welcomes New Broker Partner
Navacord Inc. is pleased to announce its partnership with another of Canada’s leading brokerage firms, Partners Indemnity, further expanding Navacord’s presence in the Greater Toronto marketplace. Read more.

MS&AD Selects Shift Technology Fraud Solution
Shift Technology is pleased to announce MS & AD Insurance Group will implement Shift Technology’s FORCE solution to improve existing capabilities to detect fraudulent insurance P&C claims for domestic business. Read more.

Wawanesa Names New Canadian P&C President
Wawanesa Mutual Insurance Company is pleased to announce the appointment of Carol Jardine as President of Wawanesa’s Canadian Property and Casualty (P&C) operation. Read more.

Insurance Welcomes FSRA Implementation Date
Insurance Bureau of Canada welcomes the announcement in Ontario's Budget that the government has confirmed that the Financial Services Regulatory Authority will be operational by April 2019 to bring more effective and coordinated regulation services to Ontario. Read more.

Aviva Canada Investigation = Consumer Protection
The conclusion to an investigation involving legal and healthcare professionals is one more win in Aviva’s fight against auto insurance fraud on behalf of honest consumers everywhere. The reality remains that meaningful actions by government are needed to tackle root causes. Read more.


“AI: The Foundation of Next-Gen Insurance” — May 30, 2018 — Technology In Action Series by Insurance-Canada.ca


The Intersection: Insurance-Canada.ca Blog

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

Improve Results with Data-Driven Referrals
Digital insurance is gaining traction with insurers and distributors alike. However, the efficacy of digital continues to be an open question. Is this a problem with the technology or is something else in play? We’ll supply some examples and put forward a few thoughts. We’d be interested in your approaches. Read more.


Insurance-Canada.ca “Technology In Action” Series
AI: The Foundation of Next-Gen Insurance
Insurance-Canada.ca Seminar – May 30

The AI umbrella seems to encompass AI itself, machine learning, natural language processing, cognitive computing and more. At this half day morning seminar on Wed 30 May in Toronto, topics such as case studies, current status in insurance, opportunities, how it is reshaping innovation, technology evolution will be addressed. If this is in your field, mark the date & reserve your spot. Details.



From Doug

Our hearts go out to those affected by the terrible bus accident involving the Humboldt Broncos this weekend. Any serious injury or loss of life is devastating to those in close proximity. but an event of this magnitude envelops the whole community and beyond.

After any tragedy, we search for answers and for ways to prevent similar accidents.

Auto transportation is fundamental to our society; in recent decades, better driver education, more responsible social practices, stricter laws, better automobile design and road infrastructure have reduced deaths and injuries. The issue now seems to be driver attentiveness.

Can technology help? Yes, as it has done in many areas, from a variety of driver assist functions to traffic monitoring and digital highway signage.

And autonomous vehicles? As two recent deaths have illustrated, this technology still faces significant challenges. We hope one day it delivers on its early promise to prevent needless tragedies.

Doug Grant, CIP
Partner
Insurance-Canada.ca

Doug Grant

The Chronicle weekly newsletter features news, events, and general information relating to insurance, technology, and innovation in the Canadian insurance industry and the marketplace. Subscribe here or view past issues.

Please contact [email protected] if you would like to recommend an item for inclusion.

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