Insurance-Canada.ca "Chronicle" weekly newsletter
Insurance-Canada.ca - Where insurance and technology meet

FEBRUARY 25, 2020

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INSURANCE INDUSTRY NEWS

PMI First In Canada To Launch Hi Marley
Peel Mutual, one of the largest members of the Ontario Mutuals, is also committed to being the best mutual insurer in Ontario. As a forward-thinking organization that continually looks to innovative, Peel Mutual has launched Hi Marley to continue to deliver an outstanding customer experience built on trust.
Read more.

Increase Engagement With Personalized Advice
A new Aite Group report was written to provide auto insurance carriers the information necessary to augment their telematics offerings with personalized advice programs and consider other value-added products and services.
Read more.

Insurers Turning To IT Services Partners For Modernization, Innovation: Novarica
The need for modernization, innovation, and change in the insurance industry is driving IT organizations to look for skill sets and resourcing options that are often in short supply. The latest Market Navigator report from Novarica profiles 42 IT services providers to help insurers understand and compare their options.
Read more.

OCTO Telematics Powers Techpilot For ICBC
OCTO Telematics has announced it has been selected as the exclusive telematics provider for the Insurance Corporation of British Columbia's one-year project, Techpilot, for newly licensed drivers. The goal of the initiative, which launched in January, is to validate that telematics can modify driving behavior for the better.
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Nuro Granted Autonomous Vehicle Exemption
Nuro, the leading robotics company that launched the world's first unmanned delivery service, is pleased to debut R2: its second-generation, custom-built vehicle, which this month was granted the first-ever exemption for an autonomous vehicle by the U.S. Department of Transportation.
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Briza Startup Seed Financing Total Revealed
Briza.io, the insurance-as-a-service API, has just closed another round of funding, bringing the organization's total funding to USD 3 million.
Read more.

FirstOnSite Restoration Acquires Keith Moore Construction
FirstOnSite Restoration, Canada's leading independent disaster restoration services provider, has strengthened its presence in Ontario with the signing of a definitive agreement to acquire Barrie-based J. Keith Moore Construction Limited (Keith Moore Construction), a firm that specializes in insurance restoration across Simcoe County and surrounding areas.
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Swiss Re’s iptiQ, IKEA Launch Home Insurance
Swiss Re's iptiQ and IKEA have announced the launch of a new home insurance offering which provides easily accessible protection at an affordable price. HEMSÄKER, which can be purchased online in a matter of minutes via IKEA, was created to extend home insurance to more people and increase their financial resilience. The coverage is initially available in Switzerland and Singapore.
Read more.

Ontario Auto Insurance Rates: Q4 2019
The Financial Services Regulatory Authority of Ontario has provided an overview of the auto insurance rate change filings which were reviewed in the fourth quarter of 2019.
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January Storm Insured Damage Total Revealed
The January 10-12 storm in southern Ontario and Quebec caused nearly CAD 100 million in insured damage split between Ontario (which bore the brunt of it) and Quebec, according to Catastrophe Indices and Quantification Inc. Most of the damage was to personal property.
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ICTC2020: “20/20 Foresight: Keys To Success in a Dynamic World” — 18th annual Insurance-Canada.ca Technology Conference — Feb. 25-26, 2020, at the Beanfield Centre, Exhibition Place, Toronto


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The Intersection: Insurance-Canada.ca Blog

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

2020: Winning in the Digital Revolution of Insurance
By Steve Whitelaw, Applied Systems
In the digital revolution of insurance, we should be thinking about transforming our approach to how insurance is marketed, sold, distributed and serviced in ways that put the customer first. We should be asking ourselves how we can leverage technology to delight our customers and make our staff more efficient and more engaged.
Read more.


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

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

February 25-26, Toronto Beanfield Centre

At ICTC2020, today and tomorrow in Toronto, industry leaders and experts are defining the next generation of insurance and risk management.

There's still time for you to register. Sign up for the whole conference or just for Day Two (Wednesday), and hear about some of the keys to achieving exceptional performance in a dynamic world.

Register Now!

Visit insurance-canada.ca/ICTC for details.


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From Doug

As this issue of the Chronicle is distributed, our ICTC2020 Technology Conference will be underway.

Although it is a technology conference, the opening session addresses climate change. Some 50 years since scientists first realized that human-induced climate change posed a big problem, we indeed find ourselves in a pickle.

Data underpins our understanding of weather and enables predictions of increasing accuracy. Likewise, data is the basis of much of what we do in insurance, from product development to claims settlement.

The Internet of Things – and UBI telematics is the first and biggest example – generates mountains of data. As it expands in many directions, so too does the data.

A significant use of that data is to improve the consumer and customer-facing self-service activities, from quoting to claims adjustment. There is lots of innovation in this space.

From that comes new insurance products, variations of products with a greater focus on risk management and loss prevention, and ways of distributing products, such as platforms and connected microservices. The digital ecosystem is growing.

All of these changes involve innovation; doing it well in this new decade is certainly a “Key To Success.”

Doug Grant, CIP
Partner
Insurance-Canada.ca

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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