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INSURANCE INDUSTRY NEWS
Insurers Must Define New Business Models: EY
Canadian insurers must rethink existing business models to overcome the complex challenges brought on by new emerging technologies and intensifying competition. EY's NextWave Insurance: personal lines and small commercial 2020 report outlines how providers can't afford to be all things to all customers – they have to focus and prioritize as they redesign their business models.
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Foxquilt Launches Service In Alberta, B.C.
Foxquilt, a leading insurance technology company that empowers groups, businesses and B2B networks to band together and save on business and home insurance, is pleased to announce it is launching its services in Alberta and BC this month.
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Zurich Expands Cyber Protection As Risks Grow
Zurich Insurance Group has partnered with cyber security company CYE to create a new offering together to shield businesses against the growing risks of cyber-crime. Zurich Cyber Security Services addresses the full spectrum of cyber-risks by helping businesses define and deploy effective cyber risk management programs. It combines Zurich’s specialist cyber insurance and risk engineering capabilities with CYE’s AI-based technology, services and cyber expertise.
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Locational Data For P&C Carriers: Aite Group
Locational data enables carriers to underwrite with more confidence, understand exactly what was damaged and where any forces that caused damage occurred, and identify locations where they’ve underwritten policies for assets that could be in danger. A new Aite Group report examines the types of locational data solutions that are available to address operational challenges carriers may face.
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Group Insurers Focusing Tech Investments On Scalability, Efficiency
With plan sponsors seeking to drive out costs, group insurers are focusing their technology strategies on improving basic capabilities like benefit and policy administration, enrollment, marketing, and product design. In a new Business and Technology Trends report, Novarica provides an overview of group benefit providers’ business and technology issues, data about the marketplace, and examples of recent technology investments.
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NFP Integrates Brokerages Across Canada
NFP Canada Corp. has announced that several of its Canadian insurance brokerages – including Capital Benefit Financial Group, Corporate Benefits Analysts Insurance Agency, Consortia Group, PBL Insurance, Dalton Timmis Insurance Group, Mass Insurance Brokers, McLean Hallmark Insurance Group, Elective Benefits Services, and Indemnis Trade Risk Management – are adopting the NFP business name in each of the provinces and territories of Canada where permitted by law.
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Calls To Fight Insurance Fraud Growing Louder
A new survey by Aviva Canada finds that Canadians overwhelmingly support action to fight insurance fraud and clearly correlate fraud with increased premiums. The survey shows that combating fraud is becoming more of a priority for Canadians, with support in all regions of the country.
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Climate Adaptation Costing Cities Billions
The Federation of Canadian Municipalities and Insurance Bureau of Canada have released a new report quantifying the cost of climate adaptation for municipalities which demonstrates the urgent need for new investments in local climate adaptation and the areas where that investment is needed most.
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AP Intego Launches Self-Serve SME Platform
AP Intego, a leading digital insurance agency and one of the nation's fastest-growing Insurtech companies, is pleased to announce the launch of its small business customer platform. The AP Intego platform enables its customers to easily manage their coverage and run their businesses with added confidence. The platform is now open for all AP Intego customers.
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CHES Financial Services Tailored Solutions
CHES Special Risk Inc. is delighted to announce its further expansion with new sister company CHES Financial Services, specializing in Life, Health, Critical Illness and Travel Insurance, and Employee Benefits solutions. CHES Financial Services’ product offerings allow P&C brokers to capitalize on the growing demand for a holistic, one stop shop solution for insurance buyers’ needs.
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Coronavirus Resilience Action Plan: Marsh
Businesses are encouraged to review their resilience and crisis response strategies in order to be well prepared for the potential impacts of the coronavirus outbreak.
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Gore Mutual Announces New President & CEO
Gore Mutual has announced that President and CEO Heidi Sevcik has decided to retire. Andy Taylor has been appointed Chief Executive Officer, effective July 1, and Paul Jackson has been appointed Chief Operating Officer, effective March 2.
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Swiss Re Moves Toward Net-Zero Emissions
Swiss Re has announced further measures to support the transition to a low-carbon economy. The Group will stop providing re/insurance to, and investing in, the most carbon-intensive oil and gas companies. For its own operations, Swiss Re has committed to achieving the goal of net-zero emissions by 2030.
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Chubb Helps Keep Homes & Businesses Dry
To help protect clients and their properties from the growing risk of water damage, Chubb has issued two new resources created specifically for personal and commercial insurance clients: the Third Annual Homeowners' Risk report, and a whitepaper titled Preventing Water Damage.
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TMQuotes Platform Launches Next-Gen Upgrade
TMQuotes, a revolutionary cloud-based solution marketplace for insurance agents, has launched a new release with next-generation API integration functionality which enables agents to take more involved ownership over their personal marketplace.
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Rokk3r Insurtech Partners With SaaS Leader
Rokk3r, the multinational company cobuilder is pleased to announce that its insurance-technology division, Rokk3r Insurtech, has reached an agreement to partner with insurance Software-as-a-Service provider Genasys to market the company's services to new target markets.
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2020 U.S. Property Claims Study: J.D. Power
Filing a claim with a homeowners insurance company is a make-or-break opportunity to positively engage with customers, and insurers are rising to the occasion, according to the J.D. Power 2020 U.S. Property Claims Satisfaction Study. Overall customer satisfaction with the property claims process has reached a record high.
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“We are alive because we buckled up.”
Milissa Gavel was driving on a wintry highway with her three-month-old son and a friend when she pulled out to pass another driver and hit a patch of black ice. Her vehicle's side windows were shattered during the ensuing rollover, but the occupants – who were wearing seatbelts – were completely uninjured.
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