"Chronicle" weekly newsletter - Where insurance and technology meet

FEBRUARY 18, 2020

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The Transition To Digital Insurance Distribution
Finaeo, an InsurTech Spotlight participant, has released a new whitepaper discussing how digital distribution is rapidly changing the client experience, and what advisors and distributors can do to prepare for the future of insurance distribution. Read more.

Strategic Priorities Research Report: Majesco
Majesco's 5th annual Strategic Priorities report assesses how insurers are understanding, planning and responding to the various trends in the marketplace to modernize and optimize today's business while creating a new business for the future. Read more.

Accenture Technology Vision 2020
To compete and succeed in a world where digital is everywhere, companies need a new focus on balancing “value” with “values,” aligning their drive to create business value with their customers’ and employees’ values and expectations, according to Accenture's 20th annual Technology Vision report, which predicts the key technology trends that will redefine businesses over the next three years. Read more.

Tech Leaders Favour A.I. Ethics Policy
Nearly nine in 10 tech-sector decision-makers believe companies in all industries should implement an AI ethics policy to help govern their work with artificial intelligence, according to a new KPMG report. In addition, more than two-thirds favor of some level of government regulation of AI. Read more. Opens AI Research Centre For Insurance is pleased to announce the opening of the state-of-the-art Lab in Montreal. The newly established data science centre of excellence will focus on research and development of new artificial intelligence technologies for the insurance industry. Read more.

Onlia, Young Drivers Partner To Gamify Road Safety
Onlia, a new digital safety brand, has partnered with Young Drivers of Canada to make road safety in Canada rewarding through gamification. Embracing a prevention-first strategy, the companies created a trivia game that tests Canadian's road safety knowledge and skills – with rewards for good results. Read more.

Element AI Orkestrator To Manage GPU Clusters
Element AI is pleased to announce the latest addition to its portfolio of software solutions. Designed for AI practitioners and their IT support teams, Element AI Orkestrator is a workload scheduling tool built to optimize computing resources. A software-as-a-service (SaaS) version is available now, with an on-premises version expected for Spring 2020. Read more.

FloodFlash Pays Weather Claims Within One Day
FloodFlash, a UK InsurTech startup offering rapid-payout insurance for businesses in areas at high risk of flooding, has paid claims related to Storm Ciara in record time. In a world first, the parametric insurer paid out weather damage claims the next day after floods occurred. Read more.

Cowbell Cyber Partners With Advisen
Cowbell Cyber, a startup focused on AI-powered cyber insurance, has announced a partnership with Advisen to incorporate the industry's largest collection of publicly referenceable Cyber Loss events into Cowbell Cyber's continuous underwriting insurance platform. Read more.

CX Emphasis Growing Among Organizations
Organizations are taking the customer experience more seriously by committing more resources and talent to the discipline, according to Gartner, whose latest CX Management Survey reveals an increase in the number of organizations who have appointed a chief experience officer (CXO) or chief customer officer (CCO) or equivalents over the last two years. Read more.

Tech Capabilities Streamlining Book Roll Process
Improvements in technology, coupled with clever product rate filing, are making it easier for insurers to take advantage of book roll opportunities with their distribution partners. In a new report, research and advisory firm Novarica examines new book roll capabilities available in the market and profiles some of the prominent technology players in the market. Read more.

NFP Acquires Indemnis Trade Risk Management
NFP, a leading insurance broker and consultant that provides Property & Casualty, corporate benefits, retirement, and individual solutions, is pleased to announce it is bringing new capabilities to its P&C business with the acquisition of Indemnis Trade Risk Management Limited. Read more.

Canadian Premier Acquires Gerber Life
Canadian Premier Life Insurance Company is pleased to announce it has signed an agreement with U.S.-based Western & Southern Financial Group to purchase its block of Canadian life insurance business, marketed under the Gerber Life brand. Closing of the purchase is expected to take place in the second quarter of this year, subject to regulatory approval. Read more.

Verisk, Duck Creek Announce New Solutions
Verisk has announced additional underwriting solutions, available on Duck Creek's Content Exchange, that will enable insurer customers to easily access robust data on applicants' previous coverage and loss history. Read more.

Trupanion To Expand Underwriting Capabilities
Trupanion Inc. is pleased to announce the hiring of Randy Valpy, a 20-year veteran of the animal health industry, as president of a yet-to-be-formed Canadian underwriting company, which will be a catalyst for growth in the Canadian market for insurance offerings outside of the market-leading Trupanion brand. Read more.

Cover Genius, AutoMatrix Empower Auto Dealers
Cover Genius is pleased to announce it has partnered with dealer management software company AutoMatrix to give dealerships the unprecedented ability to offer full auto insurance to customers at the point of sale. Read more.

Chubb Expands Incident Alert Reporting Tool
Chubb has announced that its signature Incident Alert tool is now available for Excess Casualty clients to assist during a catastrophic event by helping to identify qualified response contractors, manage cleanup efforts, and mitigate potential liabilities. Read more.

IBC Launches Commercial Task Force
Commercial insurance is becoming challenging, following years of significant losses. In response, Insurance Bureau of Canada is launching the National Commercial Insurance Task Force to examine how this is impacting Canadian companies and consumers. Read more.

IMS Rebrands, names new Chief Product Officer
IMS, a subsidiary of Trak Global Group (TGG) and a leading provider of connected car data solutions, is pleased to announce that Carrot Insurance co-founder Ed Rochfort is joining IMS as Chief Product Officer. His appointment coincides with TGG's decision to extend the IMS brand internationally across its Insurance and Mobility divisions. Read more.

IBAO Launches New Broker Education Course
Brokers have been searching for an efficient way to close the practical skills gap between newly licensed and working brokers. The Insurance Brokers Association of Ontario is proud to announce the release of a new eLearning course that addresses this challenge, titled New Broker Essentials. Read more.

Workers Remain Worried Over Financial Wellbeing
U.S. employees' financial wellbeing has improved, but many still live paycheck to paycheck, overspend, and remain worried over the future state of their finances, leading to a broad set of issues that negatively affect many workers' lives, according to a new survey by Willis Towers Watson, a leading global advisory, broking and solutions company. Read more.

ICTC2020: “20/20 Foresight: Keys To Success in a Dynamic World” — 18th annual Technology Conference — Feb. 25-26, 2020, at the Beanfield Centre, Exhibition Place, Toronto

The Intersection: Blog

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

Personal Lines Workforce Modernization: What’s the Price Tag?
By Karen Pauli, Strategy Meets Action
One of the most inspiring headlines I've seen in recent months was about a major “Future of Work investment.” Finally, an insurer was making a commitment to address a looming and significant reality – the nature of work is changing. A recent SMA research report shows that personal lines insurers are strategizing and deploying around transformative technologies, but successful execution is not going to occur without the supporting skills, so there is a clear need to be addressed. Read more.

ICTC2020: “20/20 Foresight: Keys To Success in a Dynamic World” — 18th annual Technology Conference — Feb. 25-26, 2020, at the Beanfield Centre, Exhibition Place, Toronto

“20/20 Foresight:
Keys To Success in a Dynamic World”

Feb. 25-26, 2020, in Toronto

This year's Technology Conference is packed with thought leadership, case studies and insights you don't want to miss, including:

The Future of Work: Human-Centric Innovation
Joseph D'Souza, CEO, ProNavigator
Greg Smith, Chief Client Officer, Crawford Canada

Technology and the Future of Driving
Julie Bernadou, Business Development Manager, Mobileye

How Publishing Adapted To Disruption — Without The Data
Robert Wheaton, Chief Strategy Officer, Penguin Random House Canada

The Evolution of Innovation in P&C Insurance
David Arbuthnot, Director - Innovation Outpost, Wawanesa Insurance
Daniel Zhan, Innovation Advisor, iA Financial Group

Omnichannel Experience Design
Anton Abramov, Director of CX, X by 2

How Fast Can You Take A Product To Market?
Jeff McCann, Co-Founder & CEO, Apollo
Justin Hamade, Chief Technology Officer, Apollo

Become An ‘Innovation Anticipator’ Using Co-Creation & Co-Innovation
Sven Roehl, Co-Founder, Cookhouse Labs

Innovation, Culture, and Capitalizing on Data
Caroline Abela, Chief Product Owner, EDC
Michel El-Khoury, Sr. Management Consultant, Deloitte

Register Now!

Register now and join your peers, or for complete details, visit

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See how CSSI's Broker and MGA solutions can make your business more efficient. Technology Awards (ICTAs)

Last call for the People’s Choice Award!

It's your turn to be the jury – only until this Friday, February 21!

Browse the participating PICTA nominations and make your picks!

Join us at the 2020 Technology Conference on Feb. 25 to discover the winners.

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From Doug

The InsurTech (Spotlight) Connection

In April 2019 we introduced a new resource – the InsurTech Spotlight. The objective: a public list of InsurTechs doing business in Canada.

These InsurTechs include both fresh startups and long-time industry participants who are adopting InsurTech characteristics. Each is categorized as an insurance practitioner (insurer, broker, etc.) or a technology provider.

Of the 14 insurance businesses in the list of 2020 ICTA Nominations, four are startups, and another five have transformed to the point where I would call them InsurTechs. The remainder are adopting InsurTech characteristics. All six of the finalists selected by the jury are in what I would call the “InsurTech” category. Join us to discover the winner next Tuesday at ICTC2020.

But the connection runs deeper still. All six ICTA finalists, plus nine of the fourteen nominees, are joining us at the Technology Conference next week to share thought leadership and network.

Join your peers – register now – and learn from the leaders and trailblazers who are reshaping insurance.

Doug Grant, CIP

Doug Grant

The Chronicle weekly newsletter features news, events, and general information relating to technology and innovation in the Canadian insurance industry and marketplace. Subscribe here or view past issues.

If you would like to recommend an item for inclusion – with a focus on technology in insurance relevant to the Canadian Property & Casualty insurance industry – please contact [email protected].

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