INSURANCE INDUSTRY NEWS

Sure Launches Anywhere Insurance To ‘Liberate Industry’ From Legacy Vendors, RSOs
Sure is pleased to announce the launch of Anywhere Insurance to liberate the insurance industry from the control of incumbent rate service organizations and legacy insurance product filings. Anywhere provides first-of-its-kind insurance programs designed for carriers, MGAs, and global brands that want unique, customizable, go-to-market ready insurance products paired with end-to-end SaaS technology and scalable APIs. Read more.

Top A.I. Trends For Insurers In 2024: Xceedance
Insurers are prepared for AI to move beyond task automation and machine learning to advanced uses in 2024, according to new insights from Xceedance, but an intense focus on testing and integration are critical for insurers to realize the benefits. Read more.

Applied Commercial Lines Premium Rate Index Findings For Year-End, Q4 2023
The magnitude of rate increases was down across all lines relative to average premium renewals in the same quarter a year prior, according to final-quarter results of the Applied Commercial Index™, the Canadian insurance industry's premium rate index. Read more.

CBN Announces Addition Of Two New Members
Canadian Broker Network, Canada's leading network of independent insurance brokers, is pleased to welcomes two new members: Kilgour & Bell Insurance, headquartered in Winnipeg, MB, and OVC Assurance, based in Saint-Hubert, QC. Read more.

KRS Insurance Partners With Acera Insurance
Acera Insurance Services Ltd. is pleased to welcome its newest partner, KRS Insurance Brokers Ltd. Based in Newmarket, Ontario, KRS Insurance has been providing industry-leading coverage for pet care and beauty service professionals across Canada for more than 20 years. Read more.

First Acre Launches First-of-its-Kind Digitized Agricultural Insurance Platform
As part of its commitment to digitization and farmers, First Acre Insurance has developed a progressive new platform along with different coverage solutions that will give both insurance brokers and their agriculture clients a rejuvenated way of doing business. Read more.

WTW Launches SME Cyber Insurance Solution
WTW has strategically partnered with leading cyber insurance carriers dedicated to serving small and medium-sized businesses in North America in order to craft a cyber solution to meet their unique needs. The tailored solution provides quick and easy access to competitive insurance quotes through self-service quoting platforms. Read more.

Most Insurance Organizations To Replace Insurance Management Platforms By 2025
Three-quarters of insurance organizations worldwide are preparing to implement new core insurance management platforms in the next two years, according to new global research by UK-based Novidea. Read more.

Gallagher Re Q4 Global InsurTech Report
Gallagher Re examines InsurTechs that have recently been through late-stage growth funding and discuss the routes to exit that can be taken. Read more.

Attracting And Retaining Knowledge & Talent
ProNavigator presents a free webinar, hosted by Insurance Nerds, on February 29, at 1pm (ET). Listen in on the live discussion between insurance and insurtech professionals on strategies to attract and retain talent, and preserve institutional knowledge as the industry faces a retirement wave. Read more.

Crawford Technologies Partners With PossibleNOW
Crawford Technologies is pleased to announce it has partnered with PossibleNOW, a provider of preference and content management software, to create new opportunities for companies to transform customer engagement toward customer-preferred and accessible delivery of communications. Read more.

Atlantic Canadians Want Flood Insurance: IBC
A clear majority of Atlantic Canadians support the federal government's introduction of a national flood insurance program, according to a new survey commissioned by Insurance Bureau of Canada. Read more.

Simple Blood Test Could Revolutionize Cancer Screening: Swiss Re
Multi-cancer early detection blood tests offer a future where a single blood test can provide a routine, comprehensive screening for a range of cancers. Swiss Re Institute's new report explores the future risks and opportunities for patients and insurers. Read more.

Hudson Restoration Gets EcoClaim-Certified
Hudson Restoration, a leading boutique and eco-friendly property restoration firm, is proud to announce that it has achieved certification from EcoClaim, a pioneering organization in the field of sustainable insurance practices. Read more.

Featured job opportunities:

Risk Advisor, Technology Practice - Commercial Enterprise
PROLINK Insure
Toronto, ON

Sales Representative - Personal Insurance
Northern Insurance Brokers Inc.
Sault Ste. Marie, ON

In the InsurTech Spotlight this week:

XRM Vision
XRM Vision is a leading provider of Microsoft Customer Relationship Management (CRM) solutions and insurance software products. We teamed up with brokers to develop a platform that truly addressed their needs; we are proud to say that TANDEM is the only fully integrated, scalable, cloud-based system for group insurance brokers in Canada. Learn more.

Calling all InsurTechs! Click here to participate.

From Doug Data and Tools Insurance businesses collect data about customers and prospects: basic details, such as name, contact and risk details, and supplemental data, such as communications preferences. We then deliver the message as determined by the nature of the message and the customer's preferences. The data and preferences must be correct, requiring good governance, management and maintenance. As communication channels increase and preferences change, the challenge grows. The same principles apply to most data, whether it belongs to customers, partners or employees. Tools create value from data when they process a transaction, or create a report. Analytics tools being more sophisticated can create greater value. Eugene Wen, VP & Global Chief Data Scientist at Manulife, described a potential use case in a webinar: Since customer service calls are usually recorded. an AI tool can review each recording immediately, sense the customer's sentiment, and if there is an issue notify a human supervisor, who immediately reaches out to the disgruntled customer. Use cases employing ever more sophisticated tools are common; generative AI has only increased the potential. Value comes from tools and data working together; competitive advantage comes from using both wisely. Join us at ICTF2024, next Tuesday in Toronto, where expert speakers will explore both. Doug Grant, CIP Partner Insurance-Canada.ca