INSURANCE INDUSTRY NEWS

Aon Launches Cyber Risk Analyzer To Mitigate Cyber Risk Exposure
Aon plc is pleased to announce the launch of its Cyber Risk Analyzer, a digital application that allows risk managers to make data-driven, technology-enabled decisions to mitigate cyber risk. Read more.

Life Insurance Drives Global Premium Growth Amid Higher Interest Rates: Swiss Re
Global life insurance premiums in 2025-26 are forecast to grow at more than double the rate of the past ten years, according to the new sigma report from the Swiss Re Institute, which indicates that rising real wages, still elevated interest rates in key markets, ageing populations, and a growing middle class in emerging markets continue to support global demand. Read more.

Neutrinos Launches Intelligent Automation Marketplace For Insurance
Neutrinos, a leading technology company that powers intelligent automation for enterprises, has unveiled the new Neutrinos Marketplace, designed to jump-start automation journeys across the entire insurance value chain. Read more.

Kayna, WTW Partner With Vibrant To Drive Third-Party Vendor Cyber Compliance
Kayna, the award-winning embedded insurance infrastructure platform, and WTW, a leading global advisory, broking and solutions company, have partnered with Vibrant, the Easton, Pennsylvania-based platform that manages third-party vendor cybersecurity oversight by tracking insurance coverage. Read more.

There’s A New Most-Stolen Vehicle In Canada
É quité Association, Canada's national authority on insurance crime and fraud prevention, has unveiled their annual list of the top 10 most stolen vehicles in Canada. After two consecutive years in the top spot, the Honda CR-V has been overtaken as the nation's most stolen vehicle. Read more.

Near Space Labs Deploys Stratospheric Robots
Near Space Labs, a leader in stratospheric remote sensing, is pleased to announce it has completed the nationwide deployment of its Swift robots, establishing the first network of stratospheric robots delivering ultra-high-resolution aerial imagery across the continental US, now with enhanced resolution capabilities. Read more.

Intact Acquires Home Maintenance App
Intact Financial Corporation is pleased to announce it has acquired Jiffy Inc., Canada's number-one home maintenance app. Through this acquisition, Jiffy will have the platform and capabilities to accelerate expansion of its services across more Canadian jurisdictions. Read more.

Westland Insurance Acquires MSP Insurance
Westland Insurance is pleased to announce it has acquired MSP Insurance Corp., operating as Mitchell Sandham Pastor Insurance Brokers, effective November 1st. Read more.

Equisoft Completes 30th Major Life Insurance Modernization Project In 18 Months
Equisoft, a leading global digital solutions provider to the financial services industry, is pleased to announce its successful completion of 30 modernization projects in the past 18 months, showcasing the full spectrum of its solutions and in particular its flagship Equisoft/manage platform, a comprehensive SaaS policy administration system for life, group, and annuity products. Read more.

Canadians Remain Concerned About The Future
According to the seventh annual edition of the IG Wealth Management Financial Confidence Index, 2024 has brought financial stability after years of volatility; but many are concerned about the future and there is a clear regional divide in Canadians' financial confidence. Read more.

In the InsurTech Spotlight this week:

Simply Benefits
Simply Benefits is Canada's newest Third Party Payor (TPP) that works with advisors to deliver employee health benefits 100% digitally to Canadian employers. We are Canada's simplest fully digital Employee Benefits provider, trusted by leading Canadian advisors and their employer clients. Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Financial Security Advisor, Insurance
RBC Insurance
Montreal, QC

Bilingual Regional Underwriter
HSB Canada
Toronto/Ottawa, ON

From Doug Technology Enabling Innovation Are insurance companies becoming technology companies that just happen to sell insurance? I don't buy that – too many InsurTech startups hoped to win in the insurance business but didn't. The more insurance knowledge and experience they had, the probability of success improved. I would rank people (staff) highest among success criteria, followed by technology next. I believe being an innovator is an important factor. It is people who innovate, and technology is a key component. Technology has enabled innovation in process improvements, connectivity (internet, APIs), computing (cloud, speed, data strorage), coding (GenAI), sensors, and more. These technology innovations contribute to major industry trends, including on-demand, parametric and embedded insurance. At their heart, these are all traditional insurance products newly extended in innovative ways. What about change in the insurance product itself? Cyber risk did not exist before the Internet, but it has developed into a major risk and insurance product Risk management – a discipline unto itself – has always been important for insurance pricing and underwriting. The ongoing evolution toward “Predict (or Detect) and Prevent” could be the biggest change in the nature of insurance. How will technology influence it going forward? Doug Grant, CIP Partner Insurance-Canada.ca