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Insurance-Canada.ca - Where insurance and technology meet

FEBRUARY 19, 2019

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INSURANCE INDUSTRY NEWS

Cyber Security: “What's Now and What's Next?”
Aon plc, the leading global professional services firm providing a broad range of risk, retirement and health solutions, has released its 2019 Cyber Security Risk Report. The report, which details the greatest cyber security threats and challenges organizations are currently facing, discusses that as companies continue to use technology to speed up the transfer of information, game-changing business opportunities are created, as well as increased cyber risk. Read more.

How Amazon & Netflix Solved Digital Challenges
What insurers face now, digital giants like Amazon and Netflix faced when they moved to operate exclusively in the digital marketplace: transactions increasingly shifting to digital; operations impacted by an unprecedented wave of automation. What lessons did these companies learn, and how do they relate to the challenges insurers face as they adapt to the digital marketplace? Read more.

Gartner Debunks A.I. Misconceptions
IT and business leaders are often confused about what artificial intelligence can do for their organizations and are challenged by misconceptions. Gartner has identified five common myths and misconceptions about AI and says IT and business leaders developing AI projects must separate reality from myths to devise their future strategies. Read more.

AI: From Behind the Scenes to Centre Stage
Artificial intelligence is everywhere in our lives. From the news, music and movies “suggested” for us to the navigation systems that get us through traffic, we use it every day. Read more.

Strategic Priorities 2019: Majesco Research
Majesco, a global provider of cloud insurance platform software for insurance business transformation, has announced the release of a new thought leadership report, Strategic Priorities 2019: Accelerating the Paths to the Future of Insurance, based on its fourth annual survey of insurers across all sizes and lines of business. Read more.

Gen Re Harnesses Facial Analytics For NOW App
Gen Re's NOW app uses facial analytics technology to offer a quicker, easier – and fun – way to purchase certain kinds of insurance. The buying process begins by uploading a selfie from your smartphone. A streamlined onboarding process means a policy can be issued to applicants in minutes. Read more.

Direct Online Small Commercial Insurance Update
Over the past decade, selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality. In a new report, research and advisory firm Novarica discusses key issues affecting direct small commercial insurers, including a review of strategic options, and profiles 22 current market participants. Read more.

Group Captive Programs In Canada: eCaptiv
eCaptiv will be forming two group captives through an exclusive group of independent insurance brokers to combat commercial auto trends in Canada. The programs are in the process of accepting submissions for prospective Members and intend to commence in July 2019. Read more.

WeGoLook Offers On-Demand Field Inspections
CoreLogic® is pleased to welcome WeGoLook® as a new service through a seamless integration in the CoreLogic Symbility® platform, an industry-leading property insurance claim workflow communications management tool. Users can now tap into WeGoLook's network to obtain claims data, photos, videos and measurements, anytime, anywhere. Read more.

Equisoft Acquires AGEman Solutions
Equisoft, a leading global provider of digital business solutions for the insurance and wealth industries has acquired AGEman Solutions, a Montreal-based digital provider recognized for its agency management systems designed for the Canadian distribution market. Read more.

Hub Acquires Firstbrook Pointon Benefits Inc.
Hub International Limited, a leading global insurance brokerage, is pleased to announce that it has acquired the assets of Firstbrook Pointon Benefits Incorporated. Based in Toronto, Firstbrook Pointon Benefits is a full-service employee benefits consulting firm providing a broad spectrum of benefits programs, including health & performance, benefits plan consulting, group retirement services, executive benefits and disability management. Read more.

Archway Welcomes George Mitchell Insurance
Archway Insurance, one of Atlantic Canada's largest and fastest growing insurance brokerages, is pleased to announce the addition of George Mitchell Insurance in Liverpool, Nova Scotia, to its locations, effective February 28. Read more.

Satisfaction With Auto Insurers At Risk
Fueled by a rising frequency and severity of insurance claims and repair costs, vehicle owners in Canada are seeing auto insurance premiums soar and, as a result, customer satisfaction levels are suffering, according to the J.D. Power 2019 Canada Auto Insurance Satisfaction Study. Read more.

Auto Insurers Seize Growth Opportunities
Financers and insurers are responding to digitisation by building deeper working partnerships with data analytics companies so they can optimise customer engagement through novel payment options such as mobile payments, wearables, and virtual currency. Read more.

Out-of-this-World Results With Machine Learning
Dessa recently launched a program for employees to dedicate a portion of working hours to personal projects that would help the company advance its machine learning knowledge. Combining their interest in space with an exploration of deep learning and its potential applications in astronomy, three of Dessa's engineers collaborated on a project called space2vec. Read more.

Renoworks Launches FastTrack For Roofing
Renoworks and Geomni, a Verisk business, announce FastTrack, a roofing contractor’s all-in-one solution for design, visualization, and measurements. Renoworks FastTrack, powered by Geomni, is an easy-to-use project suite that allows roofing contractors to show customers what their homes can look like with proposed materials, enabling contractors to provide more accurate quotes with faster turnaround. Read more.

Disability Insurance For Truckers Over Age 70
Rod Stiller, President of National Truck League, is pleased to announce that NTL has introduced a disability insurance coverage for truckers who are over the age of 70. This new insurance coverage is available for Owner/Operators and drivers within the industry between the ages of 70 and 75. Read more.

Are Drivers In Denial About Distraction?
New research released today by CAA South Central Ontario finds an overwhelming majority of Ontario drivers (91 per cent) believe distracted driving has worsened. However, that same poll shows less than half admit to being part of the problem. Read more.


The Intersection: Insurance-Canada.ca Blog

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

Artificial Intelligence: A 50-Year “Overnight Sensation”
Artificial Intelligence (AI) has been a hot topic for decades. Over the years, scientists and deep thinkers have mapped out the interest, needs, and rudimentary applications, awaiting the proper technology to support new applications that could calculate, summarize, and present with a time close to human responses. Are we making progress? Read more.


17th annual Insurance-Canada.ca Technology Conference – “A New Insurance Order” – Feb. 26-27, 2019
17th annual Technology Conference
“A New Insurance Order”
Feb. 26-27, 2019 — Beanfield Centre, Toronto

We – you – are in the midst of the biggest changes ever seen in insurance.

Get new insights. Debate challenges. Discuss innovations.

The New Insurance Order Value Chain
Eric Weisburg, Novarica

Marketing Automation Platform & Digital Strategy
Michael Turcsanyi, Goose Digital
Bill Pierznik, Act-On Software

The Path to 2020: Digital Marketing in Insurance
Naheed Somji, Economical Insurance

InsurTech: The Digital MGA
Jeff McCann, Apollo Exchange

Blockchain: What Is Its Insurance Potential?
James Colaço, Deloitte Canada • Louisa Bai, Deloitte Canada

Tomorrow is coming. Be there. Prepare for success.

Register now, or for complete details, visit insurance-canada.ca/ictc.


People's Choice ICTA Award!

ICTA2019 – The People's Choice

It's your turn to be the jury!

Review the contenders for the 2019 People's Choice ICTA Award, and vote for up to three.

Cast your ballet by Friday, February 22.

Discover the winners on Feb. 26 at ICTC2019 in Toronto. Follow along on Twitter: #ICTA2019.


ICTC2019: “A New Insurance Order” — 17th annual Insurance-Canada.ca Technology Conference — Feb. 26-27, 2019 — Beanfield Centre, Exhibition Place, Toronto


From Doug

Insurance is ever more focused on the customer, on digital transformation and innovation. All are interwoven in the competition to capture customers and serve them (profitably).

The three focal points for next Tuesday – Day One of our annual Technology Conference – are brokers, claims, and auto insurance.

For Wednesday, Feb. 27 – Day Two – three more topical themes:

Engaging customers, knowing them and communicating more effectively can win new business and build satisfaction and loyalty to retain current clients.

Innovation is everywhere, from efficient processes to new or enhanced products, from improved marketing and distribution to claims satisfaction, from granular underwriting to fraud detection.

Technology is changing rapidly. Learn the latest about AI, blockchain and voice ; touch on more.

Hear from industry experts – the analysts who study these phenomena, your peers who are executing them, and suppliers who offer tools to help make it work.

Insurance businesses are transforming and innovating, seeking collaborative contribution, speed, and agility. The stakes are high.

Join your peers at ICTC2019, and collect ideas to enhance your position in the “New Insurance Order”.

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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