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NOVEMBER 22, 2022

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INSURANCE INDUSTRY NEWS

Guy Carpenter Launches MetaRisk® Live To Enable Real-Time Reinsurance Strategy Optimization
Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan, is pleased to anounce the launch of MetaRisk® Live, a new tool that supports the structuring and optimization of reinsurance strategies in real time. Read more.

Humania Selects Sentro Platform For Customer-Centric Group Insurance Administration
Sentro, a leading New Zealand-based tech firm, is pleased to announce that Canadian life and health insurer Humania Assurance has selected the Sentro solution as its new core group insurance policy administration platform. Read more.

Cyber Insurance: Strengthening Resilience For The Digital Transformation
The cyber risk landscape is rapidly evolving and cyber attacks have increased, but most businesses and households are uninsured or significantly under-insured. Cyber insurance premiums amount to just a fraction of total losses from cyber attacks, and there is much work to do to ensure sufficient risk protection is available to make society more resilient to cyber risk. Read more.

Vanta, BCI, CHS Benefits Form New Lloyd Sadd Consulting Arm
Vanta Benefits, BCI Benefits, and CHS Benefits Consulting are pleased to announce their merger, coming together to form Lloyd Sadd Consulting Inc., effective November 1st. Read more.

Équité Association Releases Annual List Of Most Stolen Vehicles
The metropolitan areas of Toronto and Montreal are rich hunting grounds for organized auto theft crime rings that funnel stolen vehicles overseas to sell for profit, according to the annual list of the Top 10 Most Stolen Vehicles across the country relesed by Équité Association. Read more.

Advanced Driver Assistance Systems Reduce Front-To-Rear Crashes
The Partnership for Analytics Research in Traffic Safety has released results of the largest government-automaker study to date about the real-world effectiveness of ADAS systems in passenger vehicles, and the study reveals that vehicles equipped with forward collision warning and automatic emergency braking reduced front-to-rear crashes by roughly 50 percent. Read more.

IBC Data Shows Canadians Want Action On Climate Adaptation
Canadians support climate adaptation and want to see action from governments to protect them from the natural disasters they are already experiencing, according to a new poll commissioned by Insurance Bureau of Canada. Read more.

CSIO CL Working Group Finalizes Requirements To Quote & Bind Small Business Real Estate
CSIO's Commercial Lines Working group has achieved another milestone in finalizing the requirements to quote and bind small business real estate. The Working Group has now reached industry consensus on the common data set, and streamlined the real-time quote and bind data exchange for four small business segments: contractors, retailers, business and professional services, and real estate. Read more.

Tribe Property Technologies Launches Digital Marketplace For Community Living
Tribe Property Technologies Inc. is pleased to announce it has launched a curated digital marketplace for community-living accessible through its proprietary platform Tribe Home. The marketplace is designed to support efficiency and financial ease for homeowners and residents of Tribe's multi-family communities. Read more.


InsurTech Spotlight

In the InsurTech Spotlight this week:

Sentro
Sentro is designed for fully digital, end-to-end group insurance administration. We give insurers the ability to connect their brokers, service providers and group customers – right through to the insured. We deploy fast. Our customers can create new products and plans in hours, not months. Renew business in hours, not days. Quote business in minutes. Onboard customers and issue policies fully digitally, in real-time. Learn more.

Calling all InsurTechs! Click here to participate.


The Intersection: Insurance-Canada.ca Blog

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

InsurTech Trends Impacting Insurance Carriers
By Jenna Earnshaw, Wisedocs
As we near the end of 2022, the Canadian insurance industry is in a positive place, setting itself up for long-term success in a remote-first and digital-forward environment. Canadian insurance companies are benefiting from cloud-based platform technology, and with an increased focus on personalized premiums and usage-based coverage, insurers are leveraging the internet, advanced analytics, and machine learning in many aspects of insurance. Read more.


Canadian Broker Network

CBN members are independent. Some say fiercely independent.

Through CBN guiding principles of innovation, collaboration, and commitment to growth, our members leverage the tremendous value of independence into best possible value propositions for clients, employees and insurer partners.

Visit us at canadianbrokernetwork.com.


From Doug

Last week's comment about technology-based change concluded with “Fostering a culture which can absorb and take advantage of change.”

Today's rapid changes – climate, war, inflation, health, innovation – present a challenge to everyone.

We all lead our own lives. Beyond ourselves, most people lead others too, whether they be families, teams, businesses or organizations small or large, or even nations of whatever size.

In all cases, quality leadership can make a big difference.

Certain attributes contribute to being effective as a leader:

Visionary: What impact will your organization have on your community, your industry? Be able to discuss your vision in a way to inspire others.

Decisive: Be able to make tough decisions, quickly and efficiently, even when there is no right or wrong answer.

Communicative: Communicate frequently and confidently with your team; share your vision and goals and bring your team onboard. Listen – intently.

Effective leaders have many more helpful characteristics. These are just three of ten “tips” by Michael de Waal, President and Founder of Global IQX, recently purchased by Majesco: See “10 Tips for Leading Teams”┬áin Insurance Thought Leadership, (Nov. 7, 2022).

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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