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Insurance-Canada.ca - Where insurance and technology meet

FEBRUARY 4, 2025

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INSURANCE INDUSTRY NEWS

Turvi Launches AI-Driven Claim Coverage Review Tool
Turvi, a new technology solution and innovation partner to the insurance industry, is pleased to announce the launch of CoverAI, a new product which leverages AI to help claims managers swiftly interpret and summarize complex policy language, enabling faster claims coverage decision-making and more consistent interpretation to help reduce human error. Read more.

Getting Nature Into Financial Reporting
The University of Waterloo's Intact Centre on Climate Adaptation is pleased to announce the release of a new guide which outlines how local governments of all sizes can start integrating nature into their financial reports today. Supported by the Standards Council of Canada, KPMG LLP and Natural Assets Initiative, the guide was developed with more than 120 experts across the country. Read more.

Essential Preparation For Travelling Outside Canada
Travelling outside Canada is a thrilling experience, and it's important to be prepared. Whether you're planning a relaxing beach vacation or an exciting city tour, there are a few key things you need to take care of before you go which can be broken down into three simple areas: travel insurance, travel documents and final preparations. Read more.

The Global Vehicle Telematics Hardware Market: Berg Insight Report
IoT analyst firm Berg Insight has released a 150-page market report which focuses on the hardware part of the connected vehicle value chain, including device form factors such as blackboxes, OBD dongles and TCUs. The strategy report covers both the aftermarket and OEM segments for passenger cars and commercial vehicles. Read more.

GUS Grows In Ontario With JFA Contracting Solutions
Jaime Smith, Director of Franchise Development at GUS, is proud to announce that JFA Contracting Solutions has joined its network of property restoration professionals, further strengthening the group's ongoing growth in Ontario. Read more.

Steamatic Opens First Franchise In Nova Scotia
Steamatic Canada continues to expand, announcing the opening of its first franchise in Nova Scotia. The Steamatic Halifax franchise is the second to open in the Maritime provinces, following Steamatic Prince Edward Island. Read more.

QuickFacts Celebrates Record Growth, Innovation
QuickFacts, a leader in innovative tools for insurance brokers, is celebrating a record-breaking year, with new product launches, significant time savings for brokers, and expanded industry engagement in 2024, all continuing to transform how brokers access insurance information. Read more.

InnSure Expands Sustainable Insurance E-Learning Program
InnSure, the mission-driven nonprofit dedicated to harnessing the power of the insurance industry to combat climate change, is excited to introduce a new InnSure Corps member offering: the Sustainability for Insurers e-learning program. Read more.


InsurTech Spotlight

In the InsurTech Spotlight this week:

BrokerLift
BrokerLift is an eCommerce Platform purpose-built for Insurance Brokers to digitally sell "transactional" products to their customers from their preferred Insurance Partners. The platform integrates digital products (20+ to choose from!) into the Broker's website, email and other branded experiences. BrokerLift is NOT an insurance entity, Brokers earn full commissions and can swap product providers without losing their data or digital customer experience. Learn more.

Calling all InsurTechs! Click here to participate.


The Intersection: Insurance-Canada.ca Blog

What's going through the Intersection
of insurance and technology?

There Is Just Too Much Insurance Knowledge Out There
By Joseph D'Souza, ProNavigator
The infrastructure of today's information superhighway is one of our historically great technological achievements. But as the volume of information continues to grow, the issue is no longer about the capacity of the infrastructure to allow information through. Just like when the internet began getting wide public traction, a new and more complex problem arose: finding the needle in the haystack. Read more.


Insurance Works

Featured job opportunities:

Field Adjuster - Property Claims (Nova Scotia)
Aviva Canada
Halifax, NS

Senior Liability Specialist
SGI
Regina, SK


From Doug

Innovations in AI itself continue apace, and insurance businesses are making major investments in the use of AI. Leaders are moving AI Agents from prototype and testing into production.

Through the magic of machine learning, AI Agents can improve themselves which is quite a boon compared to previous approaches to enhancements.

For example, GIC Underwriters, a wholesale broker and MGA, has implemented an AI Agent combined with a CoPilot replacing a chatbot to better serve their broker customers. It answers frequently asked broker inquiries about:

• Risk appetite;
• Quote generation;
• Coverage details, and more.

An expanded knowledge base provides the underlying information for the AI Agent.

The AI Agent from InsurTech Indemn.ai answers questions but also features a CoPilot. This allows CSRs to join AI agent chats and provide real-time feedback by annotating responses.

An initial test of five days was so successful that it was moved into production. After 60 days, Indemn's AI agent answered 46% of broker inquiries with 95% accuracy. It brought:

• Higher service marks;
• Increased broker satisfaction;
• CSRs were freed up.

Insights are captured from every interaction, enabling continuous improvements.

What's next beyond more and richer AI Agents? Agentic Systems, perhaps.

Doug Grant, CIP
Partner
Insurance-Canada.ca

Doug Grant

The Chronicle weekly newsletter features news, events, and general information relating to technology and innovation in the Canadian insurance industry and marketplace. Subscribe here or view past issues.

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