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

JUNE 9, 2020

Connect with us:  Insurance-Canada.ca Home Insurance-Canada.ca Blog - The Intersection Insurance-Canada.ca on LinkedIn Insurance-Canada.ca on Twitter

INSURANCE INDUSTRY NEWS

SONAR Report: Pandemic-Related Emerging Risks
New risks and trends accentuated by the coronavirus pandemic are emerging, but the current crisis shouldn't overshadow the need for the world to transition to a more sustainable economy and a low-carbon future, according to the latest SONAR report from Swiss Re Institute. Read more.

Brokercore Reaches CSIO Certification Milestone
CSIO is pleased to announce that Brokercore has become the first CSIO member to achieve the Level II Verified milestone in the Commercial Lines Certification Program. To reach this, Brokercore successfully demonstrated their implementation of CL Data Standards and real-time quoting functionality from their BMS for sample contractors' business. Read more.

Apollo Launches Renters Insurance Online
Apollo Insurance Solutions Ltd., Canada's largest online insurance marketplace, has launched their first personal lines product, a Renters Insurance product available to purchase online through the Apollo Exchange platform. Read more.

Carriers’ Views of Enhanced Risk Mitigation
While the loss ratio problem can be solved multiple ways, carriers often employ risk mitigation to address the issue. For a new report, Aite Group went right to the source – insurance carrier executives – to gauge carriers' receptiveness to the concept of enhanced risk mitigation. Read more.

Digital Marketing And Agent Distribution
Like marketers in other intermediated industries, insurance marketers adopting the latest in marketing technology and digital analytics face the challenge of not owning the critical sales step in their customers' lifetime journey with the brand. In a new report, Novarica looks to other intermediated industries such as pharma, auto, and wealth management for solutions and tactics. Read more.

Hub International Acquires HB Consultants
Hub International Limited, a leading global insurance brokerage, is pleased to announce that it has acquired 838517 Alberta Ltd., operating as HB Consultants. Terms of the transaction were not disclosed. Read more.

Hub Acquires Ontario-Based usefulideas®
Hub International Limited, a leading global insurance brokerage, is pleased to announce that it has acquired JM Rose Insurance Agency Limited, doing business as usefulideas®. Terms of the transaction were not disclosed. Read more.

DKI Canada Welcomes Precision Restorations
DKI Canada is proud to welcome its newest member, Precision Restorations Inc., a leading provider of full-service property restoration in BC's Metro Vancouver and Fraser Valley for more than 20 years. Read more.

Messagepoint Debuts CCM Solution Connector
Messagepoint is pleased to announce the availability of a connector that enables its customers to leverage Sefas Designer, an end-to-end omnichannel customer communications management solution. The connector for makes it possible for Messagepoint customers to take advantage of Sefas' high performance composition and post-composition capabilities. Read more.

Platform Insurance Expands In Quebec
PLATFORM Insurance Management Inc., a leading construction, real estate and development insurance broker, is pleased to announce that it has opened PLATFORM Quebec Insurance Brokers Ltd., with offices in Montreal, establishing a new location for PLATFORM to service the local market. Read more.

Marsh, AXA XL Launch Delivery Solution
Marsh, the world's leading insurance broker and risk advisor, today announced the launch of Marsh deliveryPRO, a customizable insurance solution that enables US businesses to meet the increased demand for same-day delivery of their products more efficiently. Read more.

Betterview Secures Investment From Guidewire
Betterview is pleased to announce it has raised USD 7.5 million in new funding from Guidewire Software and existing investors, bringing the company's total capital raised to $17M. Betterview will use the funds to expand its industry-leading capabilities in the Remote Property Intelligence space. Read more.

Low-Code/No-Code For Insurers: Novarica
As insurers accelerate their digital transformation efforts, platforms that allow non-developers to participate in the development process can increase collaboration between the business and IT, while reducing time to market and cost. In a new report, Novarica introduces low-code/no-code technology, explores applications and use cases in insurance, and profiles vendors with experience supporting insurers. Read more.

Insurers’ COVID-19 Relief Measures Spotty
Only one in four Canadian auto insurance customers reports receiving an offer of rate relief from their insurer, according to a new survey by InsuranceHotline.com, which reveals only 25% of respondents say they were offered rate relief from their auto insurer, compared to 64% who say they were not. Read more.

Marc Lipman Named President of Lloyd’s Canada
Specialist re/insurer Lloyd's is pleased to announce it has appointed Marc Lipman the new president of Lloyd's Canada and Attorney-in-Fact for Lloyd's Underwriters. Read more.


The Intersection: Insurance-Canada.ca Blog

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

The New Era of Geocoding: The Key to Advantage in Property Underwriting
By Mark Breading, Strategy Meets Action
In the real estate market, it is often said that the three most important factors are location, location, and location. A similar argument could be made for insurance property underwriting. In order for insurers to calculate the probabilities of various risks and repair/replacement costs, it is essential to have data on many specific characteristics of the property. But these data points must be associated with the correct address before any adequate analysis can be conducted. This is where geocoding comes into play. Read more.


Insurance-Canada.ca “Technology In Action” Series
Key Technologies That Enable
The Future Of Work
Free webinar — Wednesday, June 17

Is ‘work from anywhere’ the new reality?

Office work may never return to the “old normal” before the COVID-19 pandemic.

Join ProNavigator, SGI Canada, and Advocate Insurance Group, next Wednesday, June 17, at 12pm (noon) ET.

This one-hour webinar will explore how we got this far and share a look ahead, with a focus on effective communications and the technologies that support them.

Learn more or sign up for free.

Featuring:
ProNavigator


InsurTech Spotlight

The InsurTech Spotlight features insurance practitioners and InsurTech(nology) providers which are – or are becoming – InsurTechs. In the spotlight this week are:

Koïos Intelligence
Koïos Intelligence uses the latest technologies, including Artificial Intelligence and Natural Language Processing to develop virtual assistants that reinvent the customer experience and optimize processes for insurers and brokers alike, simplifying interactions within the insurance industry. Learn more.

Calling all InsurTechs! Click here to participate.


From Doug

Last week, I noted that AI-based tools are being used to transform how we work with a reference to a webinar on Commercial Lines processing (now available on-demand). The speakers reviewed the process and use cases within it for improvements.

Now, a different perspective ...

Knowledge workers depend on good information and communications in order to support their own decisions and respond to questions from others.

As both reference information and transaction details change continually, timely access to current data is important.

Digital tools can improve our access to such support, whether as an insured customer or claimant, as a front-line worker dealing with such people, or other support staff further behind the scenes.

Our next webinar will address how improved digital support – including AI components, as warranted – can improve customer service capabilities.

With a growing chorus suggesting the current Work From Home (WFH) approach may be here to stay, we should be setting the stage for the future – “Work From Anywhere.”

Whether from home or afar, good support creates a competitive edge.

Join ProNavigator, SGI CANADA and Advocate Insurance Group, hosted by Insurance-Canada.ca, to discover some “Key Technologies That Enable The Future Of Work,” next Wednesday, June 17, at noon (ET).

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].

insurance-canada.ca

Connect with us: Insurance-Canada.ca Home Insurance-Canada.ca Blog - The Intersection Insurance-Canada.ca on LinkedIn Insurance-Canada.ca on Twitter