INSURANCE INDUSTRY NEWS
World Insurance Report 2020
Consumers of all ages are adopting a “Millennial mindset,” increasingly trusting their own research through various channels to source information and purchase insurance products themselves. Consumers are turning to non-traditional players including BigTechs (multinational tech firms such as Google, Amazon, Facebook, etc.) and product manufacturers for innovative, personalized offerings with enhanced customer experience and are increasingly relying on digital channels amid the pandemic.
Read more.
New Digital Entrants Are Potential Partners For Incumbents And Competitors Alike
As the number of digital insurance companies continues to increase, traditional insurers can turn competitive threats into partnership opportunities. In a new executive brief, Novarica reviews the six categories of digital InsureTech carriers and the impact/modernization to an incumbent insurer's infrastructure necessary to partner with each successfully.
Read more.
Zesty, IBHS Partner On Climate Risk Analytics
Zesty.ai, a leading AI technology company, has joined the Insurance Institute for Business & Home Safety (IBHS) to combine practical research, extensive historical loss data, and machine learning to allow testing from IBHS's cutting-edge building-science research center to be scaled across millions of homes and businesses. This new partnership will harness the power of artificial intelligence and cloud computing to prodiuce climate risk insights and mitigate the effects of severe weather and climate catastrophes, which disrupt lives and drive financial loss.
Read more.
Duuo Launches Gig Insurance For HeyBryan
Duuo, an on-demand insurance brand of The Co-operators, is announcing the launch of its new gig insurance product with partner, HeyBryan. The first of its kind in Canada, Duuo Gig Insurance will be available to HeyBryan Experts starting May 14.
Read more.
KPMG Introduces Performance On Demand Solution
Continuously improving performance is a major challenge for every business. In moments of relative normality, mid-size organizations' technology is aging, their data is trapped, and talent and resources are in short supply. The solutions available to assist mid-size clients have not struck the right balance of leading practices, people, and technology, until now, with KPMG Performance On Demand for Finance.
Read more.
ISB Joins Guidewire PartnerConnect Program
Guidewire Software, provider of the industry platform P&C insurers rely upon, is pleased to announce that ISB Global Services, an industry leader in insurance document sourcing and background screening, has joined Guidewire PartnerConnect as a Solution partner. ISB's new Ready for Guidewire validated accelerator is now available to Canadian insurers in the Guidewire Marketplace.
Read more.
Employers Adjust Workplaces Amid Pandemic
U.S. companies are making a series of workplace adjustments as they prepare to operate in a post-COVID-19 environment, according to a new survey of employers by Willis Towers Watson. Moreover, employers expect that the percentage of their workforce who are full-time employees working remotely after the pandemic will be three times as many compared with last year.
Read more.
Young Agents Demand Strong Digital Capabilities
An insurer's ability to assist an agent in communicating the value of products and services to prospects is a key ingredient in the success of a portal for an advisor. Agents are looking to partner with insurers that have strong digital experiences which support both placing new business and retaining clients at a time of loss or renewal. In a new report, Novarica provides insights from discussions with members of community of high-performing insurance producers under the age of 40.
Read more.
Generali, Descartes Partner On Parametric Insurance
Generali and Descartes Underwriting are pleased to announce a strategic partnership to offer parametric insurance products to respond to an evolving risk landscape. Generali's P&C unit Global Corporate & Commercial enhances its offer and existing capabilities by partnering with Descartes Underwriting, an innovative InsurTech company specializing in weather risk modelling and data-driven risk transfers.
Read more.
Yukon Approves Electronic Proof Of Insurance
CSIO is pleased to announce that the Yukon Territory has recently approved the use of electronic proof of auto insurance (eSlips). This approval allows drivers in the territory to digitally store and present their eSlips when required, without having to carry the paper copy.
Read more.
Apollo Commits To Buying Local
Apollo Insurance Solutions Ltd. is announcing a commitment to support local, starting with an initiative with ChopValue on partner gifts and incentives.
Read more.
|