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Insurance-Canada.ca - Where insurance and technology meet

SEPTEMBER 7, 2021

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INSURANCE INDUSTRY NEWS

Apollo Partners With Landlord Credit Bureau
Apollo Insurance Solutions Ltd., Canada's leading online insurance provider, has partnered with Landlord Credit Bureau to offer users an entirely digital experience. Members will now have instant access to insurance at the palm of their hand. Read more.

Accurate Background Joins Duck Creek Partner Ecosystem
Duck Creek Technologies is pleased to announce that Accurate Background, a leading provider of compliance and background checks, has joined the company's rapidly growing Partner Ecosystem. Accurate Background provides a seamless integration that can connect Duck Creek customers with Accurate's complete portfolio of employment screening services. Read more.

Larger P&C Insurers Mature In Data/Analytics, Midsize Insurers Make Gains In Digital/Core
Property & casualty insurers continue to mature in most functional areas, with larger insurers indicating gains in data capabilities for claims, product development, and customer engagement; midsize insurers have gained in digital and core capabilities for underwriting and finance. According to Aite-Novarica Group, these gains represent insurers' capabilities increasing in maturity rather than creating new capabilities where they previously had none. Read more.

IBM & Mercedes Develop “Stolen Vehicle Help”
IBM and Mercedes have announced the successful development of Urban Guard - Stolen Vehicle Help, a recently launched service in the Mercedes me app designed to help find and recover stolen vehicles.
Read more.

Sun Life Selects AWS As Strategic Cloud Provider
Amazon Web Services Inc. is pleased to announce that Sun Life has selected AWS as its long-term strategic cloud technology provider to become a cloud-first organization, drive ongoing innovation, and develop new digital client experiences. Sun Life will use AWS's proven portfolio of cloud technologies, including analytics, machine learning, storage, security, and databases, to drive operational efficiency and innovation to the company's clients and employees. Read more.

Sedgwick Smart.ly Platform Enhances Experience
Sedgwick has announced the latest evolution of its intake and incident management technology. With years of refinement, testing and pilot projects setting the course, the company's intake platform launches with a new name and an enhanced set of capabilities. Now called smart․ly, the award-winning platform showcases Sedgwick's advanced technology with a more illustrative, powerful and representative identity reflecting how the global claims and incident intake process has evolved.
Read more.

FIRST Canada Selected As Exclusive Payment Solutions Provider For CAMGA
FIRST Insurance Funding of Canada, the industry leader in payment solutions, is pleased to announce an exclusive partnership with the Canadian Association of Managing General Agents. As exclusive payment solutions provider, FIRST will provide CAMGA's membership with the ability to create quotes on their brokers' behalf via First Connect™, the market-leading payment solutions platform designed specifically for MGAs, carriers, and their brokers. Read more.

Apollo Insurance Partners With Perch
Apollo Insurance Solutions Ltd. is pleased to announce it has partnered with Perch to offer immediate digital insurance products, specifically tailored to the thousands of Canadians that use their website each year when applying for affordable mortgages. Read more.

Modern Claims Strategy Essential To L/H/A Insurers’ Future Profitability
Developing a modern and effective claims strategy can be essential to future profitability as insurers from individual and group lines take advantage of the voluntary benefits and worksite marketing spaces. In its latest Market Navigator, Aite-Novarica Group provides an overview of the available claims systems and suites for US life/health/annuities insurers, as well as detailed profiles of nine vendor solutions. Read more.

Betterview Launches PropertyNow
Instant, high-quality data is critical for property & casualty insurance carriers, especially during the quoting process. Betterview is excited to announce the launch of PropertyNow, our fast and affordable preprocessed data offering for quotes. PropertyNow gives customers access to our 100% proprietary, AI-model-derived, pre-processed Roof Condition Estimate, and other essential rating and underwriting attributes for residential and commercial properties across the entire United States. Read more.

Economical's New Parent Company Following Demutualization
Definity Financial Corporation, a newly formed CBCA company, has filed a preliminary prospectus in connection with a proposed initial public offering. The offering is being made in connection with the conversion of Economical Mutual Insurance Company from a mutual insurance company to a company with share capital pursuant to the ICA and regulations thereunder, a process known as "demutualization." Read more.

Swiss Re Corporate Solutions Expands Parametric Cyclone Insurance With Reask
Swiss Re Corporate Solutions has teamed up with Reask, a tropical cyclone risk analytics firm, to expand its parametric windstorm solution, STORM. The insurer will leverage Reask's advanced technological windspeed data to provide tropical cyclone coverage to corporate and public entities exposed to the peril. Read more.

#SlowDown When Driving Through School Zones
Kids across the country are about to head back to school. While students adjust to new classrooms and teachers, drivers will have to adjust their driving habits to account for the busier school zones. When you pass through school zones, don't fail to slow down.
Read more.


The Intersection: Insurance-Canada.ca Blog

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

Tomorrow’s Insurance is Connected
By Stephen Applebaum & Alan Demers
Insurance is, at its core, five things; underwriting and pricing risk, selling and distribution, claims adjudication, servicing and finally, investment management.  Of course, there are hundreds of other skills and important areas of the business but these are the five central pillars of any insurance company. Technologies are emerging which enable omnipresent, real-time connectivity between the people and businesses being insured and their insurers, and that is fundamentally changing the business of insurance. Here's how. Read more.


InsurTech Spotlight

Join XRM Vision for a FREE virtual conference on Tuesday, Sept. 21, with special guest Christine Wyatt, Director of Group Digital Channel at Empire Life.

Explore the different levels of technology adoption among group insurance brokers and learn everything you need to know about the impact of technology on Group Insurance in 30 minutes. Register now.


InsurTech Spotlight

In the InsurTech Spotlight this week:

Prodigy Labs
Prodigy Labs is a Canadian professional services company that is leading the way in fintech innovation. Our service solutions include digital identity, payments modernization, workforce solutions, and more. Every day, our teams of highly skilled professionals help enterprises capitalize on change in the digital identity and payments landscape. Working in partnership with our clients, we continue to design, build and deliver real value from digital transformation. Learn more.

Calling all InsurTechs! Click here to participate.


Insurance Works

Featured job opportunities:

National Investment Support Administrator
HUB Financial
Montreal, QC

Commercial Customer Service Representative
McLean & Dickey Ltd.
Orillia, ON


From Doug

Home was the locus of both living and working until the Industrial Revolution, when mechanized production and better transportation moved work to the factory.

I grew up on a family farm with a one-teacher, eight-grade public school across the field.

My first job in Toronto featured a steel desk, a shared rotary-dial analogue telephone and paper (nothing digital, needless to say).

In 1992, the company I worked for offered us the opportunity to work from home. I accepted, complete with an additional phone line with dial connection to the office computer.

The commercial internet brought inexpensive connectivity, increasing speeds, and later video and webinar/meeting applications.

In 2020, COVID-19 chased us home; WFH is back in force, and ancillary tools will evolve.

A recent episode of Canada Files featured guest Larry O'Reilly, CEO of ARHT Media, a pioneer in holographic technology. It was the first long-form broadcast interview done by hologram!

As innovation continues, the flexibility of where we work from will only increase.

Enjoy your Labour Day long weekend.

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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