INSURANCE INDUSTRY NEWS

Équité Association Launches National Insurance Crime Detection Platform
Équité Association is pleased to announce the launch of ÉQ Insights. This groundbreaking, consortium-based approach uses predictive analytics and machine learning to detect and prevent insurance crime. Read more.

World's First All-Speed Crash Detection By Sfara
Sfara is pleased to announce the world's first all-speed crash detection, from zero motion to high speeds, capturing the additional automobile crashes that other solutions miss, including those at low speeds and when a vehicle is not moving. Read more.

FRISS To Leverage Microsoft Azure OpenAI Service
FRISS, a Microsoft Global Partner and one of the world's most implemented solutions for trust automation at P&C carriers, is pleased to announce it has collaborated with Microsoft to enhance its AI fraud model explanations using Microsoft Azure OpenAI Service. Read more.

Enterprise Mobility Ushers In A New Era
Enterprise is pleased to announce it is connecting its full portfolio of offerings – car rental, fleet management, flexible vehicle hire, carsharing, vanpooling, car sales, truck rental, vehicle subscription, luxury rental, technology solutions, and more – under a new corporate brand, Enterprise Mobility™. Read more.

McFarlan Rowlands Makes Dual Acquisition
McFarlan Rowlands Insurance Brokers Inc., a division of McDougall Insurance Brokers Ltd., is pleased to announce the acquisitions of McConville Omni Insurance Brokers Ltd. and T.G. Colley & Sons Ltd. in southwestern Ontario region. Read more.

QBE Selects Novidea’s Insurance Platform
Novidea is pleased to announce that it has partnered with QBE Canada to implement its born-in-the-cloud, data-driven insurance management platform. Read more.

BIG Announces New Location In Ontario
Billyard Insurance Group is pleased to announce it has opened another office in the Durham Region. Located just off Highway 2 in Courtice, Ontario, the new branch aims to make a big impact on the small community by providing a wide range of solutions for their insurance needs. Read more.

Actuarial Leader Valani Global Acquires MSA Research
Valani Global is pleased to announce the acquisition of MSA Research, a Canadian analytical research firm specializing in the insurance industry. Read more.

LexisNexis Risk Solutions and IMS Collaborate to Offer IMS customers driving scoring, driver monitoring
LexisNexis® Risk Solutions and IMS (Insurance & Mobility Solutions), a leading global vehicle and driving data business, are pleased to announce that they have entered into an agreement for IMS to leverage the LexisNexis® Drive Metrics scoring model. Read more.

Auto Repair Cycle Times Doubled In Two Years
The average auto insurance repair cycle time has more than doubled since 2021 due to repair shop backlogs and lingering parts shortages, but customer satisfaction with the auto insurance claims process has improved this year, thanks to concerted efforts by insurers to manage expectations, according to the J.D. Power 2023 U.S. Auto Claims Satisfaction Study. Read more.

Blink Enters Into Global Agreement With MAWDY
Blink Parametric is pleased to announce that it has entered into an agreement with MAWDY, a global insurance, reinsurance and services company and part of the MAPFRE Group. The agreement is set to guide terms for the effective integration and delivery of real-time parametric travel insurance solutions across the global MAWDY network. Read more.

Howden Launches Climate Parametrics Global Practice
Howden is pleased to announce the creation of Howden Climate Parametrics, a global practice that brings together (re)insurance, climate, and data expertise to focus parametric risk transfer solutions on meeting the escalating demand for climate de-risking capabilities. Read more.

In the InsurTech Spotlight this week:

Life Simpli
Life Simpli aims to remove the complication and frustration from the process of buying life insurance and critical illness insurance by providing a quick, simple, and hassle-free experience through their innovative and intuitive insurance marketplace that is available across devices. Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Intermediate Underwriter
SGI CANADA
Toronto, ON

Personal Insurance/Private Client Services - Account Manager
KRGInsure, A Division of RRJ Insurance Group
Toronto, ON

From Doug ICTA Retrospective Since their inception in 2010, the Insurance-Canada.ca Technology Awards have featured business applications based on technology. The functions may be new to a department within a business, or new to the Canadian P&C insurance industry. Each represents a step forward. One first-year award was a for a mobile phone app for a FNOL. The nominations have tracked the evolution of technology. A then-new generation of core systems have since evolved toward cloud-native with third-party ecosystems and AI. With technology deployed everywhere today, the nomination emphasis tends to be more on point solutions now. Nominations have spanned the ‘food chain’ from data providers to communications services, marketing and the various core processing functions of the insurance business, always with the consumer in mind. More recently APIs, AI, cloud, etc., have influenced nominations. Will there be nominations based on Generative AI this year? The ICTA program will culminate at the Insurance-Canada.ca Technology Forum on Tues 27 Feb where we intend to: • Review innovations and progress, including ICTA case studies; • Discuss what is happening today; • Look at what may unfold in the next few years. Submit your ICTA nomination by December 1st, and mark your calendar for February 27. Doug Grant, CIP Partner Insurance-Canada.ca