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INSURANCE INDUSTRY NEWS
Cyberattacks Ranked Top Cyber Risk: Deloitte
Deloitte shares key takeaways from a poll of more than 2,800 C-suite and other executives about cybersecurity and cyber recovery protocol, conducted through a Deloitte Dbriefs webcast titled Cyber recovery: Surviving a digital extinction-level event.
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Few “Leaders” In Cyber Resilience
Despite higher levels of investment in advanced cybersecurity technologies over the past three years, less than one-fifth of organizations are effectively stopping cyberattacks and finding and fixing breaches fast enough to lower the impact, according to a new report from Accenture.
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La Capitale, SSQ Insurance To Combine Operations
La Capitale Insurance and Financial Services and SSQ Insurance have announced their decision to combine operations. The new entity will become an influential player and the biggest mutual insurance company in Canada. From day 1 it will have 4,700 employees and more than 3.5 million members and clients.
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Digitization Is Transforming Insurance: sigma
Digital transformation empowers consumers to be more informed and independent than ever before, and equips insurers with the tools to cater to customers’ current and future needs. This leads to the development of new data-driven business models, impacting the entire value chain, according to a new report from Swiss Re.
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Apollo Launches Program Automation Technology
The Apollo Exchange is pleased to announce it is now offering Program Automation services to further assist brokerages in transacting insurance online. Program Automation creates a customized broker branded portal for members of franchises, associations, and other group buying programs which allows for policyholders to immediately quote, bind, pay for coverage and receive instant policy documents.
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Digital Transformation: Benchmark & Roadmap
As the P&C landscape shifts and consumers begin to demand similar experiences to those of other industries, insurance firms are faced with some decisions about how to structure their operations to meet these new demands. The past few years have seen the emergence of numerous tools and technologies that can help firms in their digital transformations. But are these tools being used or merely considered?
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Could We Eliminate Road Deaths By 2040?
By the year 2040, the number of road deaths in developed countries will be close to zero, while road traffic accidents will be significantly reduced as autonomous vehicles become the norm, according to a new ‘Mobility of the Future’ report from Allianz Partners.
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Element AI To Power Underwriting For GroupAssur
Element AI, a global developer of AI-powered services and software that helps enterprises operationalize AI, is pleased to announce that GroupAssur, a Canadian-based broker and tech pioneer in the evolving insurance landscape, will use the Element AI OS for Insurance to optimize its underwriting workflows.
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Slice Announces Four Slice Mind Services
Slice Labs Inc., the first on-demand insurance platform, is pleased to announce four new AI-powered Slice Mind services enabling insurers to more proactively and intelligently protect carriers, businesses, and consumers from risk.
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InsurTech Investment Reaches All-Time High
Total new worldwide funding commitments to the InsurTech sector in 2019 were USD 6.37bn, 33.9% of the historical total, following a record-breaking USD 1.99bn of investment in 75 projects during Q4 2019, according to the new Quarterly InsurTech Briefing from Willis Towers Watson.
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Maturing Market For Insurer Data Warehouses
North American insurers continue to show year-over-year growth of interest in data warehouses and data technology to improve data and analytics capabilities. Novarica's latest report helps CIOs understand their options and navigate the provider landscape.
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Majesco To Acquire InsPro Technologies
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, has announced it has entered into a merger agreement for the acquisition of InsPro Technologies Corporation, a U.S.-based software leader in the life & annuity insurance market.
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Nixon & Company Rebrands as ClaimsPro
SCM Insurance Services has announced that Nixon & Company and Allmark Services, companies previously acquired by SCM, have been rebranded as ClaimsPro to provide clients with streamlined North American claims services on both sides of the border. ClaimsPro is Canada’s leading provider of independent adjusting services.
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INNOTECH Advisory Committee Reconvenes
The momentum of the CSIO INNOTECH Advisory Committee continues with another productive working session held on January 17 to focus on the major operational issues and challenges discussed in the prior working session and prioritize which industry pain points to address.
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IBAO Launches Broker-Focused Job Board
The talent gap is one of the most significant issues facing the insurance industry. In response, the Insurance Brokers Association of Ontario has launched a dedicated job board, OntarioBrokerJobs.ca, to attract new talent to the channel.
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GloveBox Updates Platform Through Web App
GloveBox, the technology that aggregates portals of insurance carriers into one centralized location, adds a new platform for users. As the company continues down its path of a modern client experience for the insurance industry, it now allows for anyone to utilize its free service through a web application in addition to its iOS native app.
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IBC & CANATICS Team Up To Fight Fraud
Currently, Insurance Bureau of Canada and CANATICS both provide anti-fraud services to the industry. IBC has agreed to create an industry advisory group to develop a strategy to smoothly transition anti-fraud services to a single entity.
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Chubb Launches Non Damage Terrorism Solutions
Chubb has launched a unique insurance solution, aimed at bridging gaps in traditional terrorism business interruption policies, which provides non damage business interruption, plus employee and customer care assistance as a result of a terrorism loss, and event cancellation coverage following an act or threat of terrorism.
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Quadient Enhances Its Flagship CCM Solution
Quadient, a leader in helping businesses create meaningful customer connections through digital and physical channels, is pleased to announce the general availability of Quadient Inspire R14, the most feature-rich version to date of Quadient’s flagship omni-channel customer communications management (CCM) solution.
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IRM Announces Climate Change Interest Group
The Institute of Risk Management is delighted to announce the formation of a new Climate Change Special Interest Group for its members to better understand the risks associated with climate change.
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Great-West Lifeco Named Climate Leader
Great-West Lifeco Inc. is pleased to announce that for a fifth consecutive year it has earned the highest rating among Canadian insurance companies on CDP's 2019 Climate Change Questionnaire, which identifies the global leaders in the management of carbon, climate change risks, and low carbon opportunities.
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Distracted Driving Fines Increase Feb. 1
SGI and law enforcement hope to see fewer tickets as February’s Traffic Safety Spotlight is focused on distracted driving. Meanwhile, fines are set to increase Feb. 1.
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IMG Issues Statement About Coronavirus
IMG's Chief Medical Officer, Dr. Geoff Tothill, has shared his latest thoughts on the outbreak of coronavirus, which the WHO has declared a Public Health Emergency of International Concern.
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