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MARCH 1, 2022

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INSURANCE INDUSTRY NEWS

Polly Delivers First Personalized Insurance Enrollment Integrated Into Auto Retail
Polly, the leading insurance marketplace for automotive retail, is pleased to announce the launch of the first personalized insurance enrollment fully integrated within the consumer's car shopping experience. Leveraging an integration API, Polly now provides a seamless and comprehensive experience that allows shoppers to receive instant, personalized insurance quotes during the research phase of their car-buying process. Read more.

Curv Health Raises Funds To Build Full-stack Digital Clinic
Curv Health has closed a CAD 5.1M seed financing round led by iGan Partners and Build Ventures to build a full-stack digital clinic that empowers employers and insurance carriers to directly connect their members with independent healthcare providers. By replacing traditional gatekeepers with an enablement layer of digital tools, Curv radically reduces costs and improves long-term health outcomes for a variety of conditions across physical, nutritional, and mental health. Read more.

CapriCMW Selects SimplePin For Digital Payment Transformation
SimplePin Inc., a leading cloud-based digital payments platform, is pleased to announce it has been selected by insurance giants CapriCMW to completely automate financial processes and transform their customer experience. Read more.

Travelers Acquires Trōv Technology Assets
Trōv, one of the earliest and most widely recognized InsurTechs, is pleased to announce that its technology has been acquired by The Travelers Companies, Inc., a leading provider of property & casualty insurance. Most members of Trōv's team have also joined the company. Terms of the transaction were not disclosed. Read more.

Brokerlink Acquires Blair Insurance
BrokerLink continues its successful start to the year with the acquisition of Ontario-based Blair insurance, effective February 1st. This acquisition enables BrokerLink to expand and serve more community members in Southern Ontario. Read more.

BrokerLink Acquires Bluenose Insurance
BrokerLink continues its acquisition streak with the addition of Bluenose Insurance Brokers in Atlantic Canada, effective February 1st, making a total of three new acquisitions for BrokerLink this month – one in each region in which it operates. Read more.

Business And Technology Trends In Reinsurance
The reinsurance business faces multiple challenges. Years of soft market conditions followed by sudden and sharp hardening periods, tremendous losses from man-made and natural catastrophes and open-ended liabilities are putting intense pressure on reinsurers. These difficult conditions challenge reinsurers to adapt and come up with creative solutions. Read more.

IBC Hails Intact Climate Centre Report On Impact of Catastrophic Flooding
Insurance Bureau of Canada commends the Intact Centre on Climate Adaptation for the release of its report on the Impact of Catastrophic Flooding on Canada's Housing Market. For many Canadians, home equity forms a significant part of their retirement savings. Homes that flood frequently may become less valuable, and could become subject to restrictions around insurance and even mortgages. Read more.

SNC-Lavalin, MBC Group Partner On Climate Recovery & Loss Prevention Solutions
SNC-Lavalin is pleased to announce it has established a strategic collaboration with MBC Group, an engineering services firm with a leading presence in Western Canada for property damage appraisal, structural & civil forensics and environmental consulting, to address the immediate need to fortify/retrofit existing physical assets against climate risk. Read more.


Insurance-Canada.ca Technology Awards (ICTAs)

Nominations are now open for the 2022 Insurance-Canada.ca Technology Awards.

Reward your team; highlight your achievements.

Start your ICTA nomination today!

The deadline is Thursday, April 7.

Start Your Nomination!

For details, visit insurance-canada.ca/icta.


The Intersection: Insurance-Canada.ca Blog

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

How P&C Commercial Insurers Are Progressing With Their Strategic Initiatives
By Mark Breading, Strategy Meets Action
When the pandemic hit in 2020, many property and casualty commercial insurers had to pause, stabilize, and reprioritize their digital transformation plans amid lower business volumes, economic lockdowns, and an uncertain financial environment. But that all changed in 2021 as commercial insurers pressed the pedal to the metal to accelerate their digital transformation journeys. Now, a new study from SMA indicates that commercial insurers will continue to advance with their transformation strategies in 2022. However, their focus will look a little different than it did a year ago. Read more.


Insurance-Canada.ca ‘Technology In Action’ Series
Spotlight on Curv Health: Revolutionizing Access to Allied Healthcare
Free webinar – Wednesday, March 9, 2pm

Health technology start-up Curv Health partners with employers, groups and benefits brokers to connect their members with healthcare providers via its digital platform. Each member can choose their own health concierge who helps select the most appropriate care plan and navigate their personalized program.

As insurance moves further toward risk management and loss prevention, such services and partnerships become increasingly important in the expanding digital ecosystem.

COO Mark Goad will address how Curv Health “is revolutionizing access to allied healthcare.”

Register now, or learn more.

Featuring:
featuring Curv Health


From Doug

Commercial Lines

Consumers increasingly expect “instant” service in insurance.

The high volume of common personal lines insurance products – auto and home – have always been digital transformation leaders, from automated rating long ago, to quote, underwrite, bind, delivery, from any device in any place at any time today.

Commercial lines lags due to many products, many risks and low volumes. Commercial lines are less regulated, so many different underwriting variables are at play. Fewer standards have been developed. The supporting data is less digitized.

Simple, standard, packages with volume have been early targets for digital transformation and straight-through processing.

Today all aspects of commercial lines see significant developments in the quest for digital solutions:

• Connecting steps in the process using APIs;
• More data is available; more is digital;
• More of the quoting/underwriting/rating steps are automated;
• Comparison engines enable more quotes, faster;
• Recommendation engines add a new dimension.

The digital transformation of commercial lines is well underway; the competitive race is on.

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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