"Chronicle" weekly newsletter - Where insurance and technology meet

AUGUST 30, 2022

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BTIS, Kamillio Partner On Direct-to-Consumer Insurance Technology
Builders & Tradesmen's Insurance Services, Inc. (BTIS), an insurance intermediary focused on serving small businesses with end-to-end insurance solutions, is pleased to announce a partnership with Ontario-based InsurTech platform Kamillio. Read more.

CTM Energizes Claims Process With Cognition+
CTM Insurance Company is pleased to announce they have successful implemented the Cognition+ Claims solution, energizing the claims process for their team and policyholders. The addition of the claims module to CTM’s Cognition+ Platform marks another milestone in CTM’s Digital Transformation Strategy that targets significantly improved workflow and customer management capabilities. Read more.

Sagicor Financial Company Ltd. To Acquire ivari
Sagicor Financial Company Ltd., a leading financial services provider in the Caribbean with a growing presence in the U.S., has entered into a definitive agreement to acquire ivari, a subsidiary of Wilton Re Ltd., subject to the satisfaction of customary conditions, including required regulatory approvals. Read more.

New BIG Office Location Opens Binbrook
Billyard Insurance Group (BIG) is pleased to announce it is expanding to Binbrook, Ontario, partnering with Chevanne Reid as Managing Partner. Read more.

Excess Underwriting Announces Merger With Core Underwriting Services
Excess Underwriting, a Gallagher company, is pleased to announce that it is merging with Core Underwriting Services, a Richmond Hill-based MGA. Core will transition to the Excess Underwriting name. Read more.

Genpact Teams Up With USAA To Support Its Property Direct Repair Program
Genpact, a global professional services firm focused on delivering digital transformation, is pleased to announce it has been selected to implement its digital and AI capabilities to elevate USAA's Property Direct Repair Program (PDRP). Genpact's transformative approach to operating this program provides more transparency and agility, enabling USAA to better serve millions of Members of the U.S. military, veterans who have honorably served, and their families. Read more.

Nova Mutual Selects Cognition+ To Facilitate Their Modernization
Nova Mutual is pleased to partner with Cognition+ by adopting the Cognition+ Enterprise Insurance Platform, which includes Policy Administration, Claims Management, Insurance Analytics & Accounting modules, as well as additional solutions to connect the sales distribution channel and members to the insurance ecosystem. Read more.

OpenText to Acquire Micro Focus International plc
OpenText has announced that it has reached an agreement to acquire Micro Focus, one of the world's largest software companies which serves thousands of organizations globally. Read more.

OSFI Announces Interim Approach To Cryptoassets
The Office of the Superintendent of Financial Institutions has announced an interim approach for cryptoassets held by federally regulated financial institutions to outline OSFI’s expectation that any currently held cryptoassets are managed prudently and set limits on their use by banks and insurers. It also provides guidance on how to approach the capital and liquidity treatment of cryptoasset holdings. Read more.

Rising Costs Drive Canadians To Rethink Connectivity And Content Needs
A new EY study reveals that more than half of consumers are concerned about potential price increases by broadband and pay TV providers as the increasing cost of living puts more pressure on the digital home. Canadian households plan to cut back on content and connectivity needs by spending less time online and decreasing the number of streaming platforms they use in an effort to prioritize financial and mental wellbeing. Read more.

The Intersection: Blog

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

What is Marketing Automation in the Insurance Industry?
By Chris Mustakas, Ai Insurance Organization Inc.
Insurance is notoriously complex, which makes marketing automation in the industry essential for long-term success. Ai Insurance Organization is a very small team, so efficiency is key to get as much output as we can using the least resources possible. This is where marketing automation comes in. Read more.

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From Doug

Marketing: Leading The Way

Chris Mustakis, Director of Marketing at Ai Insurance, reviewed their marketing journey in our latest webinar, “Marketing Automation: Lessons Learned on the Path to Success.”

They learned as they progressed. Looking at their overall marketing, Chris noted a series of general lessons.

Based on his points and on the purpose of marketing – to attract new customers and retain existing ones – what follows is my take.

Have a strategy to guide your marketing objectives.

Marketing is evolving, rapidly: Responding to customer expectations and leveraging more and better data and technology tools.

Have a purpose and a call to action: To each action there should be a purpose.

Measure: If you can't measure it, should you spend time and effort doing it?

Improve: No matter how well something has been working for you, it can be improved.

Insurance competition is strong. A quality marketing plan, executed well, is one of the keys to success.

Doug Grant, CIP

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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