INSURANCE INDUSTRY NEWS
The Top Five Risks Facing Canadian Businesses
Aviva Canada has released its first Risk Insights Report, a new and in-depth look at the current state of risk through the eyes of Canadian business owners and decision-makers to help leaders better understand the risks they face and provide a blueprint for future resilience. Drawing on interviews conducted with 1,500 Canadian businesses of all types and sizes, the report reveals the top risks identified by Canadian businesses.
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Équité Association Partners With Shift Technology To Deliver National Fraud Detection Platform
Équité Association is pleased to announce it has partnered with Shift Technology to build a national fraud detection system using artificial intelligence, a first for Canadian P&C insurers.
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Sun Life Launches First-Of-Its-Kind Hybrid Advice Platform
Sun Life Financial is pleased to introduce Prospr by Sun Life, a first-of-its-kind hybrid advice solution enabled through a digital platform and a team of licensed advisors. Designed to offer Sun Life Clients and Canadians a digital-first advice solution to manage their goals, Prospr by Sun Life provides a simple and intuitive Client experience.
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ADAS Analysis Illuminates U.S. Auto Claims Severity: LexisNexis White Paper
LexisNexis Risk Solutions has shared an analysis of the relationship between Advanced Driver Assistance Systems features and U.S. auto insurance claims, which counters common insurance industry sentiment that ADAS repair costs offset ADAS loss cost benefits. The results are featured in the new white paper which examines the effect of ADAS on claim severity in a multivariate setting.
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Ransomware Surging: Coalition Cyber Claims Report
Coalition, the world's first Active Insurance provider, is pleased to announce its 2022 Cyber Claims Report. Coalition's analysis of claims data from Active Cyber insurance customers in the U.S. and Canada reveals that ransom demands have grown substantially over the past year, smaller companies are increasingly targeted, and cyber criminals continue to take advantage of dislocations in how we work.
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Modern Specialty Niche Rates Available On Applied Rating Services
Modern Specialty Insurance is proud to announce a new initiative with Applied Rating Services (formerly Compuquote). Modern Speciality Insurance will be the first MGA in Ontario to provide quoting capabilities to contracted brokers for our complete Niche Habitational program through Applied Rating Services. This includes vacant dwellings and student rentals.
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Insurers Lack Clear Standards For Group Life & Voluntary Benefits Information Exchange
The voluntary benefits market has become more attractive as responsibility has shifted from employer to employee for many non-medical, health-related insurance products. As plan sponsors want to drive out costs, insurance carriers must execute the basics (benefit and policy administration, enrollment, case installation, marketing, and product design) while driving greater efficiency. In a new report, Aite-Novarica Group provides an overview of group life and voluntary/worksite carriers' business and technology issues, data about the marketplace, and examples of recent insurer technology investments.
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FRISS Acquires Polonious Insurance Investigations
FRISS, the most widely implemented fraud, risk and compliance solution for P&C insurers worldwide, is pleased to announce the acquisition of Polonious, the expert software for special investigations and case management. The feature-rich Polonious product will improve FRISS Investigations capabilities worldwide by bringing in more data, fraud schemes and trends. The acquisition better enables FRISS to support claims departments, special investigations units and private investigations firms.
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Jones DesLauriers Welcomes Abatis Risk Management
Jones DesLauriers, a founding Navacord Broker Partner and leader in risk management, is pleased to announce its growth and Navacord's inaugural partnership in La Belle Province of Quebec with the addition of Abatis Risk Management.
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Brokerlink Acquires Ontario-Based A&A Insurance
BrokerLink continues to grow with the acquisition of Windsor, Ontario-based A & A insurance Brokers Ltd., effective March 1st. This latest acquisition expands BrokerLink's footprint in Southwestern Ontario, where the company enjoys a strong base, serving numerous communities in the region.
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Westland Insurance Acquires Freeman Insurance
Westland Insurance Group Ltd., Canada's largest independent Canadian-owned brokerage, is pleased to announce the acquisition of Freeman Insurance Agencies, headquartered in Innisfail, Alberta. Freeman has been serving the region since 1946, providing solutions for residential, personal, auto, farm, commercial and life insurance.
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BIG Continues Growth In Ontario With Two New Locations
Billyard Insurance Group is gearing up for another year of unparalleled company growth, and BIG is pleased to announce its expansion in multiple Ontario regions with the opening of new branch offices in Ancaster and Westboro (Ottawa).
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GUS Announces MAYLAN Ottawa Expansion
GUS is pleased to announce the expansion of MAYLAN, which has provided top-level restoration services for the past 12 years in the Prescott Russell, Cornwall, and Lower Laurentians regions. With the addition of their brand-new location in Ottawa, MAYLAN continues to expand their footprint across Eastern Ontario and Western Quebec.
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