INSURANCE INDUSTRY NEWS
2022 Global Insurance Report: McKinsey
The past two years may have been the most peculiar recession and recovery in living memory. The pandemic triggered a global economic downturn in 2020, followed by a strong economic recovery in 2021. Global financial markets took a roller-coaster ride, and the impact on the insurance industry was noticeable. The insurance industry faced challenges even before 2020, but now those issues have taken on greater urgency.
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Economical Partners With Turo In Canada
Economical Insurance and Turo – the world's largest peer-to-peer car sharing marketplace – are pleased to announce a new partnership. Economical has been selected as the insurer of choice to provide commercial auto coverage for Turo's host and guest community in Ontario, Québec, Alberta, and Nova Scotia.
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Zurich Canada Teams With Blink Parametric To Strengthen Post-Pandemic Travel Solutions
CPP Group's parametric platform, Blink Parametric, has announced its collaboration with Zurich Canada, part of the Swiss-based Zurich Insurance Group – a top-three provider of travel insurance in the world. This deal marks another significant milestone for Blink as it tracks the ongoing recovery of the global travel industry.
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Life & Health Insurers Turn To A.I. To Tackle Benefits Fraud
The Canadian Life and Health Insurance Association (CLHIA) is pleased to announce the launch of an industry initiative to pool claims data and use advanced artificial intelligence tools to enhance the detection and investigation of benefits fraud.
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Intelligent Decisioning: How A.I. Is Automating Insurance Business Processes
The industry is turning to new technology solutions that automate and streamline everyday tasks to complement and enhance the productivity of skilled knowledge workers and customer service representatives. In a new Impact Report sponsored by Shift Technology, research and advisory firm Aite-Novarica Group explains what intelligent decisioning is and explores its applicability in automating processes across the insurance life cycle.
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BrokerLink Announces Largest Acquisition In Alberta To Date
BrokerLink is off to a strong start this year, closing the company's largest acquisition in Alberta to date with Bow Valley Insurance Services, effective February 1st. This acquisition provides BrokerLink with an opportunity to expand its services to more community members in Calgary and the surrounding area.
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Disaster Rx DKI expands to Burlington and Brockville
DKI Canada is pleased to announce the opening of two new Disaster RX DKI locations this spring, serving Burlington and Brockville, and the surrounding area.
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Utica First Insurance Company Selects Betterview
Betterview, an InsurTech provider of actionable property intelligence to property & casualty insurance companies, is pleased to announce Utica First Insurance Company has selected Betterview's market-leading Property Intelligence Platform to improve underwriting efficiency, increase profitability, and reduce loss adjustment expenses.
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Brokers: Take Control Of Your Receivables
FIRST Insurance Funding of Canada, the industry leader in insurance payment solutions, is encouraging brokers to explore how they can proactively implement automated solutions to make managing outdated receivables a thing of the past.
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More Canadians See Mental Illness As A Disability
As attitudes around health and wellness among employees and employers continue to shift, the number of working Canadians who view mental illnesses as a disability has hit a new high, according to an RBC Insurance survey.
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