INSURANCE INDUSTRY NEWS
Grocery Retailer Issues Update On Coronavirus
Those who have been shopping recently will have seen extraordinary numbers of people in stores, long lines, and bare shelves as Canadians stocked up their kitchens and medicine cabinets. First and foremost, do not worry. We are not running out of food or essential supplies. Our supply chain is responding to the spikes in volume and getting the most important items back in stock.
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Business Implications Of COVID-19: White Paper
With Coronavirus spreading around the world, Ecclesiastical Insurance has published a white paper examining how businesses should prepare. The company has also created an accompanying self-assessment checklist to help organizations understand their current level of preparedness.
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Coronavirus Now Considered A "Known Issue" By Travel Insurers
Canadian Association of Blue Cross Plans are advising eligibility restrictions for trip cancellation coverage provided through its travel insurance policies regarding the Coronavirus pandemic. Effective March 12, the Coronavirus is no longer an unknown risk when customers purchase trip cancellation with their travel insurance. This applies to individual personal policies only.
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Ecosystems & Platforms: Vision To Reality
As traditional industry borders fall away, ecosystems and digital platforms will greatly influence the future of insurers. Insurance executives are looking beyond industry borders to understand the growing opportunities and threats that come from new partners and competitors in the ecosystems relevant to them, from mobility to healthcare and beyond.
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Swiss Re, Microsoft Enter Strategic Alliance
Swiss Re and Microsoft Corp. have announced a strategic alliance to further advance insurance innovation and extend financial protection to more people globally. At the centre of the alliance is Swiss Re's Digital Market Center, which will help develop next-generation, large-scale tools to transform the way the insurance industry predicts and manages risks.
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CMT Launches Mobile App To Reward Safe Driving
Cambridge Mobile Telematics, the world's leader in mobile telematics and behavioral analytics, is pleased to announce the public release of its Safest Driver platform, making widely available the app proven to reduce phone distraction and other risky driving behaviors by almost half in as little as 30 days.
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Canadian Insurers Using Third-Party Data For CX, AI Investments
The need to cut costs, satisfy customer expectations, and meet the needs of artificial intelligence investments with large data sets is pushing Canadian insurers to leverage third-party data more than before. In a new report, Novarica reviews multiple insurance industry use cases and profiles 42 data providers.
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Factoring Climate Risk Into Financial Valuation
The University of Waterloo has developed a tool to help capital markets incorporate climate change and extreme weather risk into investment decisions. Researchers at the Intact Centre on Climate Adaptation developed a risk framework which will help to measure risk and guide investments by incorporating the impacts of climate change into business analysis.
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PolicyMe Raises Funds To Simplify Purchase Process
PolicyMe is excited to announce it has successfully raised a CAD 3.3 million round of funding from a syndicate of international and domestic investors. With this new financial injection, PolicyMe can further capitalize on its early success by enhancing the life insurance buying process with new technology and financial literacy tools.
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Private Capital Crucial To Climate Resilience
Severe weather events and demographic challenges are putting an increasing strain on government finances, requiring a rethink of how catastrophic events are funded and a greater use of public-private partnerships to manage risk, according to leading global risk and reinsurance specialist Guy Carpenter & Company.
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Innovation More Than Just Tech: Novarica
Innovation is a matter of management structures and talent strategies as much as technology, according to a new brief from Novarica which encapsulates key themes from the company's seventh semi-annual Silicon Valley Innovation Tour.
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Equisoft Launches Investor Benchmarking Tool
Equisoft, a leading global provider of digital business solutions, is pleased to announce a new benchmarking application tailored to the insurance and wealth management industries.
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Advisory Committee Shortlists Proposed Solutions
The CSIO INNOTECH Advisory Committee met again to present their recommendations on potential solutions to address industry pain points identified at the last meeting. The committee approved moving forward with solutions proposed to improve claims and billing notifications and API industry standardization.
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Amerisure IMS Partner On UBI Telematics Program
Amerisure, an elite, US-based property & casualty insurance company, and IMS, a global telematics solutions provider to insurers, mobility operators, enterprises, and governments, have teamed up for a commercial fleet usage-based insurance (UBI) telematics program in Michigan.
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Report Impaired Driving To Police: SGI
This month marks the 10-year anniversary of the Report Impaired Drivers program in Saskatchewan, and SGI is urging all Canadians to help make roads safer by reporting impaired drivers to police.
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