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Insurance-Canada.ca - Where insurance and technology meet

APRIL 5, 2022

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INSURANCE INDUSTRY NEWS

HUB, Acturis Launch Digital Choice Platform To Help Small Businesses Secure Insurance
Hub International Limited and Acturis are pleased to announce the launch of Digital Choice Platform, a multi-insurance carrier digital platform that provides HUB small business clients in Canada with real-time, competitive and multiple commercial insurance quotes. Read more.

Wawanesa First Insurer To Attain CSIO Claims eDocs Certification
CSIO congratulates The Wawanesa Mutual Insurance Company on being the first insurer to earn CSIO's Claims eDocs Certification – Phase 1. Certification enables the seamless exchange of Claims eDocs between Wawanesa's systems and their broker partners' Broker Management Systems. Read more.

Insurance Carriers Continue Enhancing Mobile Channels to Engage Users
Keynova Group, the principal competitive intelligence source for digital financial services firms, is pleased to announce the latest edition of its semi-annual Mobile Insurance Scorecard. Key trends show carriers leveraging mobile to build user engagement by incorporating telematics, location-based experiences, enhanced claims capabilities, and virtual assistant support. Read more.

Economical Selects Solera To Simplify Claims Experience For Customers
Solera Holdings, the global leader in vehicle lifecycle management, is pleased to announce the renewal of a multi-year agreement, where Economical Insurance, along with Sonnet Insurance and Family Insurance Solutions, will continue to adopt Solera's Visual Intelligence / Machine Learning platform for advanced AI-driven workflow management. Read more.

Hub Care Concierge Launches In Canada
Hub International Limited is pleased to announce the launch of HUB Care Concierge, an innovative technology platform for employers to support employees with their health and wellbeing and to help improve productivity and retention. Read more.

Aite-Novarica Group Launches Customer Experience Practice
Aite-Novarica Group, an advisory firm providing critical insights on technology, regulation, markets and operations, is pleased to announce the launch of its Customer Experience practice. Read more.

Flood Events Drive High Losses, Yet Most Flood Risks Remain Uninsured: Swiss Re Institute
Natural catastrophes in 2021 resulted in a total global economic loss of USD 270 billion and insured losses of USD 111 billion, the fourth highest on record, according to the latest Swiss Re Institute sigma study. This continues the long-term trend of insured losses increasing by an average of 5-7% annually worldwide. Read more.

Tips To Get “Flood-Smart” For Spring
Flooding can occur in virtually any part of Canada, and damage caused by floodwater can be both devastating and tragic. To manage the risks and minimize the losses, it is important for organizations to be “flood-smart.” Ecclesiastical's Risk Control Specialists have prepared several guides to assist in developing comprehensive Disaster Recovery, Business Continuity, and Crisis Communications Plans. Read more.

Wawanesa Furthers Commitment To Brokers
The Wawanesa Mutual Insurance Company is pleased to announce that its new Broker Platform is now live across Canada, making it easier for independent insurance brokers to access tools and resources. Read more.

ASSI Launches New CROMS Mobile Program For Police Vehicles
Accident Support Services International is pleased to announce it has established a collision reporting program and developed a no-cost mobile program to assist Police Services in capturing on-scene collision reports digitally. Read more.

StoneRidge Acquires Generations Insurance Inc.
SIB Corp., operating as StoneRidge Insurance Brokers (SIB), a leading independent provider of insurance and consulting services, has acquired Generations Insurance Inc., to expand its personal and commercial insurance offerings. Read more.

Geosapiens Closes First Financing Round With Investment From Co-operators
Geosapiens, a Canadian company specializing in flood risk modelling and analysis, has closed its first round of financing with an investment from Co-operators. This investment will allow Geosapiens to deploy its flood mapping model across Canada by the end of 2022. Read more.

IBC Welcomes SE Mutual, Saskatchewan Mutual
Insurance Bureau of Canada is pleased to announce that two companies, SE Mutual Insurance and Saskatchewan Mutual Insurance, have joined its membership, which represents the vast majority of P&C insurers in Canada. Read more.

IBAO Announces 2022 Sponsors
The Insurance Brokers Association of Ontario is proud to announce its 2022 annual sponsors. Organizations support IBAO initiatives and partner on industry solutions that benefit the broker channel, Ontario consumers and the industry at large. Read more.


The Intersection: Insurance-Canada.ca Blog

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

2022 Channel Strategies: P&C Agencies are Ready to Break from the Status Quo
By Heather Turner, Strategy Meets Action
The distribution landscape is evolving, and retail agencies and brokers are rethinking their channel partner strategies just as carriers do the same. Although carriers will always remain underwriting partners, more agencies are exploring new channel partners in the distribution ecosystem to ultimately reach customers and connect with carriers. New research from SMA finds that as options for channel relationships continue to expand, distributors across the personal and commercial lines segments are divided on the best approach for their businesses. Read more.


Insurance-Canada.ca Technology Awards (ICTAs)

Last chance to nominate your team for the 2021 Insurance-Canada.ca Technology Awards!

The deadline is this Thursday, April 7th by end of day – so Start your ICTA nomination today!

Reward your team; highlight your achievements:

START YOUR NOMINATION!

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


InsurTech Spotlight

In the InsurTech Spotlight this week:

Messagepoint
Messagepoint's award-winning Customer Communications Management (CCM) platform gives non-technical business users such as marketers, CX teams and product owners intelligent control over the content in customer communications to achieve unparalleled personalization, relevancy, brand consistency, and compliance. Learn more.

Calling all InsurTechs! Click here to participate.


From Doug

ICTA Tenterhooks

This is the thirteenth year of the ICTA program, which was traditionally – until COVID – part of our annual Technology Conference.

In that time, the insurance industry has undergone dramatic change, disruption and transformation. To illustrate the broad variety of technology usage, the winners from the last five years:

Apollo's all-digital Exchange marketplace;
Aviva using AI to identify salvage vehicles;
CAA MyPace pay-as-you-drive;
OTIP's digital channel;
Sonnet Insurance as a new business brand.

Looking through the list of finalists or even the entire catalogue of nominations, so many parts of the insurance business are represented with quite fascinating business cases.

The deadline for nominations is this Thursday, April 7th – there's still time to get involved for those who haven't started yet.

Invariably, most nominations arrive in the final two days. I always wonder:

• How many will there be?
• Will they represent most of the industry?
• Which business function will be forefront?
• What technology will be most common?

Until Thursday evening, I am on tenterhooks.

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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