INSURANCE INDUSTRY NEWS

CCC 2023 Crash Course Report Provides Insights On Property & Casualty Insurance Economy
CCC Intelligent Solutions Inc. is pleased to announce the availability of its annual Crash Course report, which delivers insights on the convergence of economic, social, and technological shifts that are reshaping driving behaviors, vehicle ownership, automotive insurance and claims handling, collision repair and more. Read more.

CFC Launches Groundbreaking Carbon Delivery Insurance Policy
CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, is pleased to announce its entry in the carbon insurance market with the launch of a groundbreaking new product. Read more.

Trufla CRM Sets New Standards
Trufla is thrilled to unveil truMarket, a revolutionary customer relationship management platform set to redefine the standards of insurance quoting and customer management. Read more.

Clearcover Launches GenAI Insurance Tool
Clearcover, a next-generation car insurance company, is pleased to announce the launch of its revolutionary generative AI solution that further digitizes statement collection, significantly streamlining the insurance claims process and customer experience. The AI-driven solution utilizes large language models (LLMs) to guide a conversational experience immediately following First Notice of Loss (FNOL). The claims intake tool collects the required information about the incident, which is typically collected in adjuster follow-up calls, to process and pay a claim. Read more.

CSIO Congratulates Optiom On Achieving Compliance Certification
CSIO is pleased to announce that Optiom Inc. has achieved their Compliance Certification by eliminating all custom codes (Z-Codes) and adhering to CSIO Standards. The Certification attests that Optiom has only programmed the approved industry Standards in their data exchange with brokers. Read more.

We Are Seeking A Part-Time Event Strategist
Join Insurance-Canada.ca, a cutting-edge firm driving innovation at the crossroads of insurance and technology. As a forward-thinking organization, we are in search of a Part-Time Event Strategist to play a crucial role in shaping our event agendas and securing dynamic speakers. If you possess a deep understanding of the Property & Casualty insurance industry, or have experience with strategic event planning, we invite you to be a part of our team. Read more.

ACORD Member Report Details Industry-Wide Digitalization Efforts
ACORD, the global standards-setting body for the insurance industry, is pleased to announce the release of its 2023 Member Report, detailing its efforts on behalf of its members over the past year and noting several key achievements. Read more.

Blink, Zurich To Offer Flight Delay Solution In Asia Pacific
Blink Parametric and Zurich Insurance in Asia Pacific announced the integration of Blink Parametric’s award-winning real-time flight delay assistance and claims solution with the Zurich Edge Platform as part of their regional digital strategy. Read more.

U.S. Homeowners’ Property Claims Satisfaction Declines To Seven-Year Low: J.D. Power
There were more billion-dollar catastrophic weather events in 2023 than in any previous year, and the increase of severe storms has led to significantly longer time frames for all major steps of claims, all negatively affecting customer satisfaction, which has declined to the lowest level in seven years, according to the J.D. Power 2024 U.S. Property Claims Satisfaction Study. Read more.

Agero Expands Deployment Of Crash Response Technology
Agero, the leading white-label provider of digital driver assistance services and software, is pleased to announce the expanded deployment of its Crash Response technology to more consumers across the U.S. after experiencing record growth in 2023. The company's Crash Response offering immediately works with emergency services to dispatch support after a crash has been detected. Read more.

CBN Announces Chairman’s Circle Award Recipients
Canadian Broker Network, Canada’s leading network of independent insurance brokers, is pleased to announce its 2023 Chairman’s Circle award recipients acknowledging top sales performance in Commercial, Life and Benefits. Read more.

Messagepoint Recognized For Artificial Intelligence Excellence
Messagepoint Inc. is pleased to announce it has been named a winner of Business Intelligence Group’s Artificial Intelligence Excellence Awards, in the generative AI subcategory, for its Assisted Authoring, which helps users to create clearer, more consistent and compliant content faster than ever before. Messagepoint is recognized for being the first customer communications management (CCM) industry software provider to offer generative AI capabilities that support content optimization for plain language, reading levels, sentiment, length and translation. Read more.

SGI’s Top Five Fraud Cases Of 2023
Fighting insurance fraud is important because it helps keep the cost of insurance down for customers. Unfortunately, there are people who work hard to deceive their insurance company. March is Fraud Prevention Month and SGI is highlighting some of the more notable claims examined by their Special Investigation Unit in 2023. Read more.

In the InsurTech Spotlight this week:

Coalition
Coalition is the world’s first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate digital risks. Coalition’s Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses worldwide remain resilient against cyber attacks. Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Cyber Underwriter
HSB Canada
Toronto, ON

Dispute Resolution Specialist
SGI
Various Saskatchewan branch locations

From Doug Competition and Complexity Technology development has enabled Insurance Innovations which we implement to be competitive, and to meet consumer expectations, but at the expense of insureased complexity. A customer communications example: When I joined insurance, communicating with individual insurance customers was by mail, telephone or in-person. Since then, innumerable technology innovations applied to customer communications, including personal computing, the internet, websites, email, apps, social, SMS, chat etc. We integrated them into our processes, and recorded which customer could use each, along with their personal preferences. Then the service bar was raised when multi-channel morphed to omni-channel, switching channels without impeding the progress of a transaction. The value derived is in customer satisfaction and loyalty, and our competitive posture relative to our peers – are we a leader or a laggard? The aggregated data about each customer – demographics, risks, which of our products and services they use – helps us better understand each client. However, complexity is increased with new or enhanced functions, each of which has a cost. Competitiveness and complexity: to improve the first, you invariably increase the second. Doug Grant, CIP Partner Insurance-Canada.ca