"Chronicle" weekly newsletter - Where insurance and technology meet

NOVEMBER 17, 2020

Connect with us: Home Blog - The Intersection on LinkedIn on Twitter


COVID-19 Impact On A.I., Digitalization: FRISS
A new study by FRISS, the global leader in AI-powered fraud detection software for insurers, highlights the impacts of COVID-19 as well as long-term industry trends. The global study provides insights into fraud detection during a pandemic, data challenges, setting a fraud-fighting culture, and more. Read more.

Nationwide, IMS Partner On Telematics Offering
IMS is partnering with Nationwide as the technology provider for the SmartMiles® pay-per-mile insurance program. As one of the world's top three providers of connected car data solutions to insurers, mobility operators and governments, IMS helps power two of Nationwide's usage-based insurance programs which also includes Nationwide's SmartRide® discount program that launched in 2011. Read more.

Smart MailHub Addresses Work-From-Home Challenges
Crawford Technologies, provider of innovative document solutions that improve customer communications, is pleased to introduce Smart MailHub, a solution to help organizations overcome one of the big challenges of the COVID-19 era by reducing the costs, compliance risks and inconvenience of work from home (WFH) and remote office business correspondence. Read more.

Sonnet Partners With BMS Canada Risk Services
Sonnet Insurance and specialist commercial insurance broker BMS have come together to offer a one-stop shop approach to home and auto and liability insurance. This relationship marks Sonnet's entry into the professional association Group Insurance space, complementing the market-leading industry expertise BMS currently delivers to more than 100 Canadian associations. Read more.

Waypoint Insurance Partners With ProNavigator to Support Brokers
ProNavigator is pleased to announce that Waypoint Insurance has selected the Ask Sage platform to support and empower their personal line brokers to find information quickly. Read more.

Guidewire Announces Banff Release and Vision for the Future of P&C Claims
Guidewire Software, Inc., the platform P&C insurers trust to engage, innovate, and grow efficiently, is pleased to announce the availability of Banff, the latest release of its market-leading cloud platform. Banff will be unveiled at Connections Reimagined, Guidewire's customer conference. Read more.

Westland Acquires Gillons Insurance Brokers
Westland Expands With First Ontario Acquisition

Westland Insurance Group Ltd. is pleased to announce the closing of the acquisition of Gillons Insurance Brokers Ltd. This transaction in support of Westland's expansion strategy to become a national insurance brokerage represents a significant milestone as the company's first acquisition in Ontario. Read more.

Westland Insurance Acquires MIG Insurance
Westland Insurance Group Ltd. is pleased to announce the closing of the acquisition of MIG Insurance Group, effective November 6. MIG Insurance Group is headquartered in Portage La Prairie, with eight branches throughout Manitoba. This acquisition supports Westland's expansion strategy to serve more communities in across Canada. Read more.

CNA Canada Launches Epack 3
CNA Canada is pleased to announce it has launched Epack 3, its next-generation modular management liability, technology and professional liability, cyber, and media policy that combines clear, concise and easy-to-read language with a flexible policy structure. It is designed to be customized for a wide range of businesses and non-profit organizations. Read more.

The Broker's Workstation (TBW) features Real-Time Policy Issuance & Integrated Direct Rating. And it does everything you need in one integrated package.

All-in-one Broker BMS solution. Book a demo!

See how CSSI's Broker and MGA solutions can make your business more efficient.

The Intersection: Blog

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

Under Construction: Commercial Lines Underwriting Transformation
By Megan Bock Zarnoch, Boundless Consulting
Results of our recent survey affirm that industry leaders expect a significantly different future in underwriting and show that for most carriers, underwriting is “under construction” relative to technology and process. Our analysis indicates there are some roadblocks and unforeseen hazards that will need to be navigated in order to transform successfully. Read more.

P&C Distribution: Blending Models
By Mark Breading, Strategy Meets Action
For every line of business across P&C insurance, there are compelling reasons to expand distribution beyond the tried and true channels. It is not that agent/broker channels or direct distribution are going away, it is more about reaching new segments and meeting customers at their point of need. Read more.

Don't miss the debut session today at 11am!

At 11am (ET) today, don't miss How Will InsurTech Shape The Future?, featuring Mark Dowds and Ruth Foxe Blader of Anthemis.

This session will reveal what Anthemis is seeing with the macro trends in the industry and then dig into the less obvious shifts in our world, with an emphasis on the emergent needs in various sectors requiring insurance. Sign up and join in!

Mark your calendars for the second installment of the World Insurance Forum virtual series on Monday, November 30.

InsurTech Spotlight

In the InsurTech Spotlight this week:

Sentro is designed for fully digital, end-to-end group insurance administration. We give insurers the ability to connect their brokers, service providers and group customers – right through to the insured. We deploy fast. Our customers can create new products and plans in hours, not months. Renew business in hours, not days. Quote business in minutes. Onboard customers and issue policies fully digitally, in real-time. Learn more.

Calling all InsurTechs! Click here to participate.

From Doug

For several weeks we have explored telematics – not just UBI, but the much broader field.

Recently, the dramatic growth of technologies has enabled partnering across the mobility scene, from OEMs to insurance companies, claims services providers, cities and data aggregators.

The auto driver was one of the first to see potential benefit, when insurance first offered the promise of a premium discount in return for sharing data.

More recently greater emphasis is being placed on managing a driver's risk. Not only a premium discount, but different reports about driving behaviours, tips to improve driving habits even with gaming options to share your experience with a similar group of others, and rewards to go with improvements.

Here in Canada, Onlia may be one of a few which is actually offering their driving app, no strings attached. With that comes rewards for doing well. Sign up for auto insurance, and the reward pool grows larger.

It is interesting how the promise of premium discount has grown in a few short years.

Doug Grant, CIP

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].

Connect with us: Home Blog - The Intersection on LinkedIn on Twitter