INSURANCE INDUSTRY NEWS
Applied Rating Index Q1 2024
In Q1 2024, average premiums for both Personal Auto lines and Personal Property lines increased year over year, according to the latest Applied Rating Index™, the Canadian insurance industry's premium rate index.
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GenAI The Most Frequently Deployed AI Solution
Generative artificial intelligence is now the type of AI solution most frequently deployed in organizations, according to a new survey by Gartner, Inc.
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Executives Bullish On GenAI Despite Low Adoption Rates: Deloitte
Although few executives say their organizations have implemented Generative AI solutions to support finance processes, considerably more are actively discussing use cases or have future plans to adopt the technology, according to a new poll by Deloitte.
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EY Expands Digital Engineering, GenAI capabilities
Nuvalence, a technology consultancy firm, has joined EY to accelerate the delivery of platform engineering, product development and generative AI (GenAI) platform-enabled services to organizations across industries and sectors.
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Marsh McLennan Launches AI-Powered Supply Chain Risk Management Solution
Marsh McLennan is pleased to announce the launch of Sentrisk, a cutting-edge AI-powered platform with integrated advisory services that will redesign the way businesses manage global supply chain risk.
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AI, Cyber Assets Growing Despite Persistent Protection Gap
Aon plc is pleased to announce findings from the Intangible Versus Tangible Risk Comparison Report 2024, which reveals that a persistent protection gap persists for intangible assets.
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IBM Launches New Microsoft Copilot Capabilities
IBM has announced the availability of IBM Copilot Runway, a new offering designed to help enterprises create, customize, deploy and manage copilots, including Copilot for Microsoft 365, and seamlessly integrate copilots' generative AI capabilities into their organizations.
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New Consumer Segment Represents One In Three Smart Home Households
Research found in a new white paper from Parks Associates reveals an ongoing shift in the smart home as more mainstream US consumers adopt devices including video doorbells, smart cameras, and smart locks. This middle-market segment, part of the “early majority” in the US mass market, represents 37% of all smart home adopter households.
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Foxquilt Partners With London Underwriters
London Underwriters, a leading national insurance wholesale broker in the U.S., is thrilled to announce a strategic partnership with Foxquilt Insurance, an InsurTech pioneer in digital insurance solutions for small businesses and individuals.
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Accenture, Mandiant Partner On Cyber Resilience
Accenture and Mandiant, part of Google Cloud, are teaming up to collaboratively deliver cyber resilience services to help organizations more efficiently detect, investigate, respond to and recover from cyberattacks. As part of the partnership, Accenture will utilize Mandiant Threat Intelligence, a comprehensive and actionable platform, and Mandiant expertise in its Cyber Resilience services.
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Navacord Doubles Travel Portfolio With Landmark SécuriGlobe Partnership
Navacord is thrilled to announce their recent acquisition of SécuriGlobe assurance voyage, effective as of April 1st. This is Navacord's largest partnership of 2024 and its most substantial travel partnership to date.
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BrokerLink Grows In Alberta & Ontario
BrokerLink is pleased to announce three new acquisitions: Ontario-based Law Insurance Brokers Limited, and Alberta-based Direct-Line Insurance and MKMK Risk Management Inc. (MKMK Group). All three closed May 1st.
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Intact Launches Wildfire Defense Systems Service
Intact Financial Corporation is pleased to announce it has engaged with Wildfire Defense Systems to launch a pilot project providing eligible customers in Alberta and British Columbia wildfire loss prevention and suppression services for their homes when threatened by active wildfires.
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Verisk Pioneers New Approach To Catastrophe Risk
Verisk is pleased to announce a monumental leap forward in global catastrophe modeling and risk analysis with the launch of its Next Generation Models.
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Get Ready For Hurricane Season: IBC
Researchers at CSU are warning that record warm surface temperatures in the Atlantic Ocean could result in 11 hurricanes this year, five of them ‘major’ – a significant increase over the average of 7.2 hurricanes a year recorded between 1991 and 2020.
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Aviva, WWF Launch Free Biodiversity Resource For Canadian Businesses
Aviva Canada and WWF Canada are pleased to announce their joint release of a new Action Plan available for Canadian businesses for how they can act to help halt and reverse biodiversity loss, better protect nature, and contribute to a more sustainable global economy.
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