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Insurance-Canada.ca - Where insurance and technology meet

SEPTEMBER 20, 2022

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INSURANCE INDUSTRY NEWS

AXIS Launches Streamlined Cyber & Liability Policy for SMEs
AXIS Capital Holdings Limited is pleased to announce the launch of an insurance policy that offers custom-built cyber and specialist liability coverage for small and mid-sized businesses. Read more.

West Wawanosh Mutual Implements Cognition+ For Underwriting
West Wawanosh Mutual Insurance Company is pleased to announce that they have completed their underwriting implementation of the Cognition+ solution, enabling Commercial and Farm lines of business to complement their Automobile and Personal Property products already on the platform. Read more.

Messagepoint Launches Semantex™ Division Offering AI-based Content Intelligence Platform
Messagepoint is pleased to announce the launch of Semantex™, its new division providing an AI-based content intelligence platform designed to empower developers tackling complex content-related challenges. Semantex provides intelligent content extraction, classification, analysis, outlier detection and enrichment services in support of a wide range of use cases. Read more.

Coalition 2022 Mid-Year Cyber Claims Update
Coalition has released the mid-year update to its 2022 Cyber Claims Report detailing the evolution of cyber trends. Key findings include that small businesses have become bigger targets, overall incidents are down, and ransomware attacks are declining as demands go unpaid. Read more.

SIB To Purchase The MultiCare Group
SIB Corp., a leading national provider of insurance and consulting services, is pleased to announce that it has entered into an agreement to purchase the MultiCare Group. Read more.

Westland Acquires Montridge Advisory Group, BST Insurance
Westland Insurance is pleased to announce that it has acquired two new Canadian brokerages, Montridge Advisory Group and BST Insurance, effective September 1st. With these acquisitions, Westland increases the depth of its employee benefits platform and gains its first location in Pickering, Ontario. Read more.

Approved ICBC Data Vendor Trufla Providing All-Inclusive Self-Service App & Portal
Thanks to a new partnership between Trufla and ICBC, insurance customers in British Columbia will soon have access to all their policies in one central app and portal for the first time. Read more.

APOLLO Launches Enhanced Builder’s Risk Insurance Product
Apollo Insurance, Canada's leading InsurTech, is pleased to announce the launch of a new, enhanced Builder's Risk (Course of Construction) Insurance product. Read more.

ASSI Expands Its Footprint To Edmonton
Accident Support Services International Ltd. is proud to be partnering with the Edmonton Police Service to open two Collision Reporting Centres in Edmonton. Read more.

BrokerTeam Insurance Opens First Alberta Location
BrokerTeam Group is pleased to announce the launch of their first BrokerTeam Insurance office in Alberta, located in Sherwood Park. Read more.

Howden Launches World-First Voluntary Carbon Credit Insurance Product
Howden, the international insurance broker, is pleased to announce that it has worked with carbon finance business Respira International along with Nephila Capital, a leading investment manager specialising in reinsurance risk, to develop a carbon credit invalidation insurance solution to increase confidence in the Voluntary Carbon Market. Read more.

New Survey Gives Drivers ‘D’ Grade For School Zone Safety Awareness
In this year's BCAA Back to School Survey, drivers earned a "D" grade for their knowledge of school zone laws and rules, revealing there is serious work to do in order to protect kids as they head back to school. The survey, conducted by Leger, reveals that drivers have some dangerous knowledge gaps when it comes to driving safely in school zones. Read more.


The Intersection: Insurance-Canada.ca Blog

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

Twenty Leading P&C Claims InsurTechs Making A Difference Today
By Mark Breading, Strategy Meets Action
Anyone who says InsurTech is an up-and-coming space hasn't been paying close enough attention. The movement is long past its infancy and is both maturing and evolving. This is especially true in the P&C claims space, where companies are gaining traction and having a significant impact on their customers. Read more.


Insurance-Canada.ca ‘Technology In Action’ Series
Applying A.I. to Transform the Processing of Medical Claims Records
WebinarWednesday, Sept. 28

Wisedocs allows your claims department to automate the medical record review process and ensure accurate, timely, and organized records.

The platform applies artificial intelligence, machine learning and optical character recognition trained to organize and understand unstructured medical data. Find out how this digital process saves time and enables better results.

Register now or learn more about the webinar and speakers.

Featuring:
Wisedocs


From Doug

Technology innovations have been ariving for decades. Personal computers, laptops, cell phones, the internet, email – all enablers of individuals using technology. Applications like Google search, Facebook, Apple iphone increased the value.

By combining “agile + tech,” innovators sensed an opportunity to compete with – even disrupt – traditional businesses. FinTech was followed by the off-shoot InsurTech.

Technology under the direction of the good leadership and differentiating practices was the main key to success.

Incumbents implemented innovation centres, hackathons, and more to put the spotlight on customer focus, agility, and innovation.

Step one was customer experience, a thrust which continues today.

For Insurance, a complex product, the customer experience alone is not enough. Consider:
• Staff, for process improvements and ready access to relevant information to support customers;
• Business partners, such as in claims, to help them better serve your customers;

Developments today present a more balanced approach to the overall user experience. A revitalized corporate culture and modern technologies have a positive impact all around, for customers, partners and not least employees, a bonus for hiring and retention.

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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