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AUGUST 14, 2018

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INSURANCE INDUSTRY NEWS

Intelligent Solutions Can Boost Insurer Profits
By embedding intelligent solutions such as artificial intelligence, machine learning and analytics into every business process, insurers can significantly increase annual profitability, according to new research by Accenture.
Read more.

Mapping Improves Customer Journey, Satisfaction
Quadient has announced the results of a global study examining maturity and best practices in the process of delivering an exceptional customer experience. Customer journey mapping (CJM) provides organizations with insights into how to streamline the customer experience throughout the customer journey.
Read more.

Symbility, Aviva Enhance Customer Experience
Symbility Solutions Inc., a global software company focused on modernizing the insurance industry, is pleased to announce that Aviva, a leading insurance company, has adopted LINK, Symbility's collaborative cloud-based platform to improve the claims experience for its UK home and commercial property customers.
Read more.

Insurance And Millennials: New White Paper
Cake & Arrow is pleased to announce the publication of its latest white paper, Insurance & Millennials: A Coming of Age, based upon the results of a survey of more than 300 Millennials exploring the mindsets, values, and behaviors of Millennials.
Read more.

Integrated HR, Payroll and Insurance Solution
Rise People, a leading digital HR and payroll software platform, has announced a strategic partnership with Cowan Insurance Group to deliver a first-of-its-kind integrated human resources and insurance solution to Canadian businesses looking to streamline people management and fuel more fulfilling employee experiences.
Read more.

Major Step For Canadian Broker Network
Canadian Broker Network, Canada's leading network of independent insurance brokers, is pleased to announce that one of its member brokerages, Smith Petrie Carr & Scott Insurance Brokers Ltd., has been purchased by a consortium of four other members.
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Hub Acquires Benefit Broker Services Inc.
Hub International Ltd., a leading global insurance brokerage, announces it has acquired Benefit Broker Services Inc. Located in Wallaceburg, Ontario, Benefit Broker provides innovative solutions around employee benefits and pension plans. Terms of the acquisition were not disclosed.
Read more.

Merger Creates New Legal Expense Leader
The amalgamation of DAS and Temple Insurance Company has been approved by the OSFI. On August 7, Canada's Minister of Finance approved the transaction to merge DAS's risk-carrying capacity with Temple Insurance Company, the primary insurance carrier of Munich Re in Canada.
Read more.

Arthur J. Gallagher Acquires Leystone
Arthur J. Gallagher & Co. is pleased to announce the acquisition of Ottawa-based Leystone Insurance & Financial Inc. Terms of the transaction were not disclosed.
Read more.

Speaker & Piuni Ltd. To Join BrokerLink
Speaker & Piuni Limited, a Fort Erie brokerage, has announced it will join BrokerLink, one of the largest Canadian property and casualty insurance brokerages. Terms of the transaction were not disclosed.
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Archway Acquires J.H. Deveau Insurance
Archway Insurance, one of Atlantic Canada's largest insurance brokerages, has announced it has purchased J.H. Deveau Insurance of Meteghan, Nova Scotia, effective August 1, 2018.
Read more.

Lussier Dale Parizeau Acquires Trinome Conseils
Patrice Jean, President and Chief Operating Officer of Lussier Dale Parizeau and Pascal Beaulieu, René Roy, and Isabelle Simoneau, partners in Trinome Conseils, are pleased to announce the acquisition of Trinome Conseils by Lussier Dale Parizeau.
Read more.

Saad Mered Appointed CEO Of Zurich Canada
Zurich Insurance has announced the appointment of Saad Mered to CEO and Chief Agent of Zurich Canada, effective October 1. Mered is currently Chief Claims Officer for Zurich Insurance Group; in his new role, Mered will report to Zurich North America CEO Kathleen Savio.
Read more.


The Intersection: Insurance-Canada.ca Blog

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

InsurTech, From The Inside Out
InsurTechs are creating new, creative, and helpful tools to improve the customers' experience in selecting, and using insurance products. However, there are risks for the start-ups and the insurers that are starting to rely on the InsurTechs. Is this improving the experience and maintaining the products' viability? Read more.


Changing customer expectations are impacting every industry. Many consumers expect a seamless experience, making CX the new battleground for differentiation. Delivering on that experience requires several digital capabilities that aren't found in one solution, so insurers must develop a digital ecosystem to compete. This can be a challenge and many insurers are wondering, How do I get started?

Watch the webcast recording now:
Customer Experience: The New Battleground for Differentiation
.

Hosted by:


“The Digital Future of Insurance: Is Risk Passé?”

Tuesday, August 28, 2018

There is an opportunity to move insurance rapidly into today's modus operandi of rapid change, innovation and customer engagement.

In the panel “Innovation Drives Change In Insurance Risk,” Marc Lipman, COO of AIG, Alice Keung, CTO at Economical, and Lorie Phair, Managing Director of the Canadian Broker Network, will explore lessons learned and actions trending.

Robin Joshua, VP Insurance at CAA Club Group, joins Tyrre Burks, Founder & CEO of Player's Health, and Sam Kodsi, President of Kodsi Forensic Engineering, to explore how insurance can continue to improve in “Helping Customers Manage Risk.”

Register today or see complete details.


InsurTechTO 2018: Driving Advantage From InsurTech — Wednesday, November 7, 2018, at the Toronto Sheraton Centre — #InsurTechTO


From Doug

Blockchain seems to fit squarely in the realm of “under the covers” technology: it's there, and it's doing something important. Many have a sense that it could be transformative.

The hype around blockchain suggested dramatic change (over time). But the use cases which are moving from drawing board to production seem to be very niche – as befits the early adoption of new technology.

Managing customers' risk seems more current and present, perhaps because insurance has always practiced some form of risk management in this space – a reward (premium discount) for risk reducing practices. Rapid development in this space has been enabled by an explosion in sensor capacity and functionality married with connectivity, i.e., IoT.

Thinking ahead, where do Blockchain and Customer Risk Management come together?

They are both on the agenda for our 2018 Executive Forum on August 28.

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.

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