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AUGUST 28, 2018

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INSURANCE INDUSTRY NEWS

Canadian Cyber Insurance Coverage Doubles
The number of Canadian firms with full cybersecurity insurance has risen dramatically, roughly doubling to 40 per cent in the past year, according to the second annual cybersecurity survey from Ovum for Silicon Valley analytics firm FICO. Read more.

Crawford Compliance InsurTech Software Suite
Crawford Compliance, a subsidiary of Crawford & Company, has launched a new contractor management solution. Tracker Central Management Portal is a tool that enables users to mitigate risk and reduce the number of incidents that occur when working with contractors, ensuring compliance with all relevant regulations such as health and safety, environmental, and more. Read more.

IBAO Unveils E-Learning Experience
The Insurance Brokers Association of Ontario is pleased to announce the launch of its new learning management system, My IBAO Learning Path, a custom-built platform which brings a seamless user experience to members and those interested in joining the industry. Read more.

Telematics For Commercial Vehicle Insurance
Insurance carriers must evolve in the commercial vehicle landscape as new mobility options become the norm, or they risk losing the ability to compete. This evolution will be challenging and broad. Aite Group's latest report outlines key commercial vehicle market trends as well as the current telematics solutions offered to address those trends. Read more.

Emerging Technology Trends: Gartner
The must-watch technologies on the 2018 Gartner Inc. Hype Cycle for Emerging Technologies reveal five distinct emerging technology trends that will blur the lines between humans and machines. Emerging technologies, such as artificial intelligence (AI), play a critical role in enabling companies to be ubiquitous, always available, and connected to business ecosystems to survive in the near future. Read more.

CAA Launches ‘Towing Bill Of Rights’
CAA South Central Ontario has officially unveiled a Towing Bill of Rights for consumers, as part of a series of initiatives for Tow Safety Week. The Towing Bill of Rights is based on Ontario law and outlines eight points for motorists to remember if they find themselves in need of a tow. Read more.

Prescription Drugs At A Fair Cost: FCCQ
As a participant in the advisory council on a National Pharmacare Plan, the FCCQ believes the plan should be sustainable, effective, and available to all Canadians without imposing any additional cost on citizens or businesses. Read more.

First Storm Surge Coverage In Atlantic Canada
Storm surge insurance is now available for the first time to homeowners in New Brunswick, Newfoundland and Labrador and Prince Edward Island with the launch of The Co-operators Comprehensive Water insurance. Read more.


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


Free Webinar on Modern Data Platforms

Wed., September 12, at 12pm Noon

How are you adapting your traditional data platforms to cope with emerging paradigms in data and analytics?

Learn from experts at X by 2 about Enterprise Architecture strategies that can enable your data infrastructure to serve both traditional and more advanced algorithmic use-cases.

Plus: Patterns to bridge the Business-IT divide for efficient and timely delivery of strategic data capabilities.

Register now or learn more.



MGA Symposium
“Technology: The Heart of Your Enterprise”
A Foundation for Future Growth

Tuesday, November 27 — Malaparte, Toronto

Is MGA business your business? Part of your business?

For the P&C MGA community, technology is a tool, an external threat, and a risk opportunity.

Mark your calendar for Tuesday, November 27 in Toronto to explore the evolving MGA scene in Canada, with a focus on the role technology is playing today and how it might evolve.

Visit insurance-canada.ca/mga for details.


From Doug

By the time you receive this issue of the Chronicle, our 2018 Executive Forum will be well underway. What ‘eureka’ moments might emerge?

Last year, responding to the interrelationship of InsurTech and regulation, David Crozier posited that regulation often stands in the way of innovation – but not necessarily how you might think. He commented that we in the industry often use regulation as an excuse not to try something different – as in, “The regulators would never allow us to do that (so let's not try).”

Lorie Phair pointed out that Ontario auto insurance regulators were very willing to listen and help, while keeping in mind their primary mandate to protect the public. Lorie’s experience came when she was managing the introduction of Ingenie, an insurance product based on telematics and driving behaviour for young drivers.

Being innovative, becoming an InsurTech, requires breaking down of barriers both internal and external – new approaches for our new insurance world.

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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