INSURANCE INDUSTRY NEWS

Apollo, CAARY Launch Embedded Digital Insurance
Apollo Insurance, Canada's leading online insurance provider, has partnered with CAARY, a financial platform for small and medium-sized enterprises, to offer tailored digital insurance products for visitors to the CAARY website. Read more.

Duuo Launches Easy-Estimate API Partnership
Duuo, an online insurance distributor, has partnered with property management software Tenantcube to launch their new embedded insurance feature. Duuo's new Easy-Estimate API allows tenants to get a quick tenant insurance quote within the Tenantcube platform, making the journey to purchasing insurance faster, and more efficient. Read more.

Chisel AI & Xceedance Enter Partnership
Chisel AI and Xceedance are pleased to announce a strategic partnership to deliver best-in-class, on-demand, AI-powered policy checking and review technology and services to commercial brokers and agents. Read more.

Coalition Enters Excess Cyber Insurance Market
Coalition, the leading cyber insurance and security company, today announced it will enter the excess cyber insurance market in Canada to help protect businesses with enhanced coverage and free access to Coalition's state-of-the-art cybersecurity capabilities, including attack surface monitoring, an in-house response team of security experts, and a suite of services and tools. Read more.

Salty, Asbury Automotive Group Join Forces
Salty Dot Inc., the Embedded Insurance® technology company, today announced a strategic partnership with Asbury Automotive Group, one of the largest automotive retail and service companies in the U.S., to enhance Clicklane – a technology ecosystem which enables an authentic online car-buying and selling experience. Read more.

XRM Vision & Segic Partner On Transformation
XRM Vision and Segic, two information technology companies that offer group insurance solutions, are proud to announce they have signed a strategic partnership that will help group insurance brokerage firms across Quebec and Canada not only accelerate their digital transformation, but also automate and support the group benefits value chain, which encompasses group insurance. Read more.

Sentro Earns Microsoft IP Co-Sell status
Sentro is pleased to announce it is now Microsoft IP Co-Sell ready. Sentro and the global Microsoft InsurTech sales team can directly collaborate to offer Sentro to Microsoft customers. Read more.

IBAC Lauds SGI Work On Broker Connectivity
The Insurance Brokers Association of Canada is pleased to announce that SGI CANADA has made a significant contribution to the IBAC Data Exchange project. SGI has submitted 12 API use cases, along with sample XML request and response documents, to the Reusable Data Services Library (RDSL) hosted by CSIO. The API documentation includes complex transactions such as quote request, quote change request and policy sync. Read more.

Insurers Plan To Accelerate Use Of Automation
Global life and P&C insurers want to improve the efficiency and auditability of their processes and close the gap between their current use of automation and where they aspire to be in five years, according to Willis Towers Watson's Actuarial Reporting Automation Survey. Read more.

Canada Life To Acquire ClaimSecure Inc.
The Canada Life Assurance Company, a subsidiary of Great-West Lifeco Inc., has reached an agreement to acquire ClaimSecure Inc., an industry-leading healthcare management firm that provides health and dental claim management services to private and public businesses in Canada. This transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close in the third quarter of 2021. Read more.

New Low-Cost Pet Insurance Brand Launches
PHI Direct has launched its new Fluff-free Pet Health Insurance™ in Canada for pet owners looking for introductory coverage for their pet at affordable price points. Designed to be in a class of its own, PHI Direct offers premiums starting as low as $10.19 for cats and $15.20 for dogs. Read more.

SGI Shares Theft Prevention Tips
Before taking off to the cabin or heading out of town on vacation, homeowners should give some thought to how protect their home from break-ins and theft. Burglary is often a crime of opportunity, and you can take preventative measures to deter thieves from finding the vulnerabilities in your home. Read more.

How To Bring The Human Connection
To Digital Insurance
Webinar with OneSpan — August 17

Despite a surge in all things digital, customers still value the human connection. That's why a human-digital hybrid model is an important combination for replicating the in-person experience.

OneSpan's VP Marketing Mary Ellen Power and Senior Solutions Architect Patrick Albert will share examples of how Canadian insurers can bring the human connection to digital insurance processes.

Learn more or sign up now.

Featured job opportunities:

RIBO Licensed Broker
Dorey & Tolgyesi Ins. Brokers Ltd
Kingston, ON

RIBO Licensed Commercial Lines CSR
Hope & Harder Insurance Brokers
St. Catherines, ON

From Doug InsurTech as Technology Provider Early in my career, insurance people accessed third-party services via telephone, paper or microfilm: premium cheques to the bank, city fire maps for underwriting, industry-wide prior claims records, and so on. As the industry digitally transformed, information could be accessed remotely from a dedicated terminal; then accessed from your own workstation; brought into a digital process for your review; and today, increasingly things are processed automatically. In parallel, InsurTech startups are providing digital applications to enhance or replace old processes or create new functions: payments, data exchange, customer engagement, marketing automation, claim estimates, etc. What has enabled this rapid change? • Technology: APIs, Internet, Cloud, etc. • Innovators: ‘Wild ducks’ are up for a challenge. • Applications: Businesses and core systems vendors realized they cannot build and manage everything digital and now provide managed integration. • Investment capital: It is abundant – and looking for a home. These fundamental changes are rippling through insurance already. Will they change your job? What will insurance look like five years from now? Doug Grant, CIP Partner Insurance-Canada.ca