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MARCH 16, 2021

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INSURANCE INDUSTRY NEWS

Pandemic's Implications For P&C Claims, Collision Repair: Mitchell
Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty claims and Collision Repair industries, has released its Q1 2021 Industry Trends Report, which shares important data-driven trends impacting the property and casualty industry, along with expert insights, opinions and guidance that can help businesses navigate this year's new environment. Read more.

SideDrawer Announces Significant Investment
SideDrawer, the API-first client-facing document collaboration platform, is pleased to announce a significant investment from the David Slabodkin Family Trust. Slabodkin was the Founder & CEO of Canada Protection Plan, and recently exited the business through a sale to Foresters Financial, a leading North American insurance underwriter. Read more.

CRM Systems Remain Key Part of Insurers’ Customer and Partner Strategies: Novarica
Faced with diversification of the customer relationship management (CRM) marketplace, insurers need to thoroughly analyze and assess their unique needs and requirements for a CRM system. In its latest Market Navigator report, research and advisory firm Novarica provides an overview of CRM systems currently available to US insurers, as well as detailed profiles of six vendor solutions. Read more.

Apollo Insurance Solutions Joins MGA Association
Apollo Insurance Solutions Ltd. is pleased to announce its membership in the Canadian Association of MGAs (CAMGA), the foremost national trade association representing Property & Casualty MGAs, which is dedicated to shaping the landscape of delegated underwriting in Canada. Read more.

NFP Launches DigitalShield Cybersecurity Risk Management For Individuals
NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement and individual solutions, today announced the launch of a new personal cybersecurity product, DigitalShield, to address the growing need for personalized cybersecurity offerings. Through a partnership with CyberScout, an industry-leading claims management provider specializing in cybersecurity, DigitalShield users have access to 24/7 support through a variety of cyber scenarios. Read more.

Swiss Re Corporate Solutions and Coalition Extend Strategic Agreement
Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re Group, and Coalition, one of the leading providers of cyber insurance and security, have announced the extension of their strategic agreement to provide broad cyber insurance and technology errors & omissions insurance to small and midsize organizations throughout the US and Canada. Read more.

Portage Deploys Guidewire ClaimCenter
The Portage la Prairie Mutual Insurance Company, a Canadian Property & Casualty insurance provider, and Guidewire Software, Inc., are pleased to announce that Portage has successfully deployed ClaimCenter as its new claims management system in the first phase of its Legacy System Replacement strategy. Read more.

Working Group Moves Closer To API Industry Standardization
CSIO is pleased to announce that the INNOTECH API Standards Working Group is moving closer to API industry standardization by defining use cases at its March 11 meeting. Representatives from Economical Insurance, Intact Insurance, Northbridge Insurance, RSA Canada, Travelers Canada, Wawanesa Insurance and the Insurance Brokers Association of Canada (IBAC) participated in the virtual session. Read more.

BIG Opens New Location In Georgetown, Ont.
Billyard Insurance Group is pleased to announce a new branch office in Georgetown, Ontario. The BIG Georgetown branch opened for business on March 1, 2021. Read more.


Insurance-Canada.ca Technology Awards (ICTAs)

Thank you to everyone who submitted a nomination this year.

Stay tuned for details of the nominees; the People's Choice award; and, of course, the final results as decided by our jury!


The Intersection: Insurance-Canada.ca Blog

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

Finaeo A Finalist In MassChallenge 2021 FinTech Cohort
By Finaeo
Finaeo has been selected as the only Canadian company to join the 2021 MassChallenge FinTech cohort. MassChallenge equips bold entrepreneurs to disrupt the status quo and to create meaningful change through dedicated programs to foster co-creation between corporates and startups. More than 300 startups from around the world applied to participate, and just 30 were selected to join the program.
Read more.


OneSpan fireside chat: The Rise Of Digital In The Future Of Insurance (March 16, 2pm) ndash; REGISTER HERE


Insurance Works

Featured job opportunities:

CSR Personal Lines - RIBO Licensed
Fava Insurance Brokers Limited
Oakville, ON

Commercial Account Manager
Masters Insurance Limited
Ottawa, ON


From Doug

The ICTA nominations for 2021 followed the usual pattern, with most arriving in the final 48 hours – the last week always keeps me on tenterhooks!

A few early observations:

There appears to be a stronger presence this year from InsurTech startups, several of whom are in the InsurTech Spotlight. It is good also to have representation from traditional and longer-term players who feature their commitment to digital transformation.

Suppliers to the industry are likewise innovating to better serve the insurance industry and their customers. We see a slightly stronger representation from this sector this year.

The total number of nominations was above average – the jury will be busy this year.

The finalists will be announced in April, when we will also launch the People's Choice award. Then on May 19, the finalists will be recognized and winners announced in a virtual ceremony.

We look forward to featuring these examples of the active ongoing transformation in the Canadian Insurance Industry.

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].

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