"Chronicle" weekly newsletter - Where insurance and technology meet

OCTOBER 2, 2018

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Individuals Unprepared For Cyber Risks: Chubb
Most Canadians are underestimating (or completely unaware of) common cyber threats targeting their personal information across social media sites and through internet-connected devices from laptops and voice assistants to smart appliances, according to the results of the 2018 Chubb Cyber Risk Survey.
Read more.

Zurich Launches New Cyber Insurance Policy
Zurich Insurance has launched its new cyber insurance policy with an updated form designed to help businesses protect themselves from cybersecurity risks. Zurich is the first insurer to include network security monitoring and pre-breach services as part of its cyber insurance policy.
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Marsh Expands IBM Blockchain Collaboration
Marsh has announced it is expanding its collaboration with IBM to provide clients with wider access to the industry’s first commercial blockchain solution for proof of insurance. Leveraging IBM's Blockchain Platform and relationship with Salesforce, Marsh will work to extend its commercial proof of insurance blockchain solution to be directly accessible to Marsh clients through the Salesforce Platform.
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Life & Health Insurance Shows Strong Growth
The Canadian Life and Health Insurance Association (CLHIA) has released the 2018 Edition of Canadian Life and Health Insurance Facts. This year's “factbook” shows that the demand for life and health insurance products continues to grow in both domestic and international markets.
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Manulife Partners On A.I. With UWaterloo
Manulife is pleased to announce a four-year partnership with the Waterloo Artificial Intelligence Institute at the University of Waterloo. This investment will support Artificial Intelligence research in disability claim prediction as well as fraud detection and natural language comprehension in customer service.
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Insurer Communications With Customers: SMA
We observe that many people never answer voicemail, ignore emails, and throw away postal mail without even looking at it. Yet email, phone calls, and documents in the mail dominate insurance industry communications with our policyholders, agents, claimants, and others. SMA's new research report explores how communications have evolved, how insurance is using these options (or not), and what it all means in an omni-channel environment.
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ISO Launches Property Solution For Millennials
ISO, a Verisk business, has launched a new personal inland marine solution to help insurers meet the personal property coverage needs of millennials and other consumers who may not stay in one place for long. The new Your Belongings solution enables insurers to offer coverage on personal possessions for policyholders while anywhere in the world.
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Manulife Launches Goals-Based Investing
Manulife has launched an innovative goals-based investing tool powered by advanced data analytics and a liability-driven investing strategy. Manulife Goals-Based Investing (GBI) is a unique program that uses variables such as age, income, health factors and postal code to help customers get a clearer picture of the income they may need at retirement.
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Wawanesa Mutual Insurance Selects TechCanary
TechCanary, provider of a cloud-based, analytics-driven insurance solution, is pleased to announced Wawanesa Mutual Insurance Company has selected the TechCanary Broker Management System. Wawanesa, the largest P&C insurer in Canada with 100% broker distribution, will use TechCanary to help manage their broker relationships.
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CMIC Selects ISI For Core System Transformation
Insurance Systems Inc., a provider of enterprise software solutions to the property and casualty insurance industry, is pleased to announce that Connecticut Medical Insurance Company has chosen to implement ISI Enterprise for its insurance operations.
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Online Enrolment For Group Insurance Plans: iA
iA Financial Group continues to innovate by launching an online enrolment tool for new group insurance clients that offer a traditional plan to their employees. It is proud to be among the first insurers to offer a paperless solution for this type of plan.
Read more.

Betterview Adds Building Permit Info
Betterview, which is quickly becoming the platform essential to every transaction around buildings and properties, has announced it has added building permit information to Property Profile. This information is now available for commercial and residential buildings throughout the United States.
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GDPR Indications For Data Governance, Security
While the General Data Protection Regulation is specific to the European Union, any firms that do business in the EU must be familiar with the law's provisions and take the necessary steps to comply. In a new brief, Novarica examines GDPR provisions and compliance concerns for North American insurers.
Read more.

The Intersection: Blog

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

Insurance and Digital: Desperately Seeking Alignment
From the outside, insurance may appear “slow to learn and slower to execute.” Moreover, insurance professionals take hits for over-explanation as well as all the risks and threats going well beyond explaining protocols.
The advent of InsurTechs has hit some chords in offering new tools (often developed by the InsurTech itself). But any new tool might miss other elements that are out of position, creating new challenges.
The relationship of technology with insurance is still a little loose, but there could be an interesting alignment if we keep our focus.
Read more.

InsurTechTO - Monday, November 6, 2017
November 7, 2018 – Toronto Sheraton Centre

How are insurance firms which are not startups competing with new InsurTechs? Collaboration.

Hear a case study: Peter Primdahl, VP - Emerging Business Models at The Co-operators, and Philippe Lafreniere, Chief Growth Officer at Slice, will discuss their collaboration story.

And something to give thanks for: Earlybird rates are still in effect until this weekend!

Register now or learn more.

Digital Trends & E-Signatures
for Canadian Insurance

Free webinar — Thurs., October 18

Customers are more demanding than ever, and paper does not fit in a customer-centric digital process.

Catch up with the latest on e-signatures – one piece of the transformation puzzle.

Mary Ellen Power, VP Marketing, OneSpan
Fred Onorato, Regional Sales Manager, OneSpan

Doug Grant, Partner,

Click here for details or to register now.

From Doug

InsurTechTO: ‘The Ontario ITC’

Big-time buzz around InsurTechConnect in Las Vegas this week, billed as the world's largest gathering of insurance leaders and innovators.

For the down-to-earth “What does InsurTech mean to you?” here in Canada, attend InsurTechTO on November 7.

The agenda is packed with information for both startups and established industry players responding to the InsurTech challenge with their own digital transformation. Get an overview of where this journey is taking us, and dig into the details with case studies from trailblazers and innovators.

The keynote presentation, by industry thought leader Sharon Ludlow, Executive in Residence at the Global Risk Institute, will ask, and perhaps answer: “Disruption In The Insurance Industry—Are We There Yet?”

See all the presentation topics.

And of course it wouldn't be an InsurTech event without a startup pitch competition! We are delighted to have industry action leaders as judges.

Act now and save – this week is your last chance for earlybird savings!

If ITC Vegas isn't in the budget – or if you're spending big to attend but you're also interested in developments north of the border – join us next month at InsurTechTO.

Doug Grant, CIP

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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