INSURANCE INDUSTRY NEWS
Life Insurance Policyholders Across Canada Lack Sufficient Coverage: Here's How Much You Need
With more Canadians turning to life insurance as a tool of financial protection, leading insurance comparison platform MyChoice conducted a study to analyze the adequacy of life insurance coverage across Canadian provinces, revealing a troubling trend.
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Coalition Joins Quotey Marketplace
Quotey is thrilled to announce the integration of Coalition's Active Cyber Insurance product into its commercial and specialty insurer marketplace. Effective immediately, Canadian insurance brokers leveraging the Quotey platform can access quick cyber insurance quotes from Coalition, a leading cyber insurance provider.
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Travelers Achieves CSIO eDocs Certification
CSIO is commending Travelers Canada on becoming the the first insurer to achieve CSIO's eDocs Certification, confirming that they have deployed the updated eDocs codes and descriptions into production for personal and commercial lines.
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OneShield Expands Technology Ecosystem With Charlee.ai
OneShield is proud to announce a strategic alliance with Charlee.ai, an innovative AI platform specializing in machine learning and predictive analytics for insurance, to empower insurers with more efficient and accurate claims processing.
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Plnar Launches ‘Instant Exterior Measurements’ To Transform Property Claims Process
Plnar, the leading smartphone imagery solution for claims and underwriting, is excited to announce the launch of its latest innovation: SmartPix Exterior. This groundbreaking technology expands Plnar's patented SmartPix interior measurement capabilities to include spaces and objects on the exterior of a building or home.
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A.I. A Major Security Concern For SME Owners
Businesses aren't the only ones benefiting from the use of artificial intelligence; cyber criminals are using AI to carry out more sophisticated cyber attacks, and two-thirds of small business owners in Canada are concerned new technology incuding AI will make it harder to protect against cyber risks, according to a new survey by Insurance Bureau of Canada.
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Blink Launches With Travel Insurance Saver
Blink Parametric and Travel Insurance Saver are pleased to announce they have partnered to launch a real-time parametric flight delay solution, enabled by Firemelon's Magenta Insurance System platform and underwritten by specialist insurer Financial and Legal Insurance Company Ltd.
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Travel Plans On Tight Budgets Don’t Include Travel Insurance: Survey
As Canadians start planning their holiday and winter vacations, a new survey from TD Insurance reveals that despite rising costs and economic pressures, many Canadians surveyed are still planning to travel for pleasure in the next twelve months, but a third of them are not purchasing travel insurance for their trip.
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Summer 2024 Shatters Records For Severe Weather Damage: IBC
Four catastrophic weather events this summer caused a combined total of over $7 billion in insured losses, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ).
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FSRA, Cadence Partner To Support Innovation
Ontario's financial services regulator and Fintech Cadence are pleased to announce a new partnership, supported through FSRA's Innovation Office, to foster fintech innovation in Ontario by empowering fintech startups to identify opportunities and address barriers to help them bring innovative financial products and services to the province .
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L&H Insurers Paid Record Benefits In 2023
The Canadian Life and Health Insurance Association is pleased to share that Canada's life and health insurers paid-out a record amount in benefit claims last year, helping to keep Canadian families healthy and make their lives more affordable.
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