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FEBRUARY 11, 2025

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INSURANCE INDUSTRY NEWS

Aon, Floodbase, Swiss Re Launch Parametric Storm Surge Solution
Aon plc is pleased to announce the launch of a new parametric insurance solution, developed in collaboration with parametric flood expert Floodbase, and leading global commercial insurer, Swiss Re Corporate Solutions, to help bridge protection gaps in traditional insurance policies and mitigate losses from hurricane-related storm surge along the coast of the U.S. Read more.

Wawanesa First to Achieve CSIO’s JSON API Standards Certification
CSIO congratulates Wawanesa Insurance for achieving CSIO's JavaScript Object Notation API Standards Certification for Billing. Wawanesa is the first CSIO member to be certified in JSON API Standards, successfully implementing these Standards for Billing use cases and supporting real-time data exchange with brokers. Read more.

Markel Implements Guidewire Cloud To Modernize Operations
Markel, the insurance operations within Markel Group Inc., is pleased to announce it has successfully migrated to Guidewire Cloud to power and simplify claims and IT operations for its specialty lines of business across its US operations. Guidewire PartnerConnect Consulting Global Strategic member PwC led the implementation project. Read more.

BrokerLink Acquires Schill Insurance Brokers
BrokerLink is excited to announce its first purchase in British Columbia, with the acquisition of Schill Insurance Brokers Ltd., effective February 1st, marking a major milestone as the brokerage becomes a true national player from coast to coast. Read more.

The Bicycle Telematics Market: Berg Insight
IoT analyst firm Berg Insight has released a market report analyzing the latest developments on the OEM and aftermarket bicycle telematics markets. This strategic research report from Berg Insight provides 45 pages of unique business intelligence including five-year industry forecasts and expert commentary on which to base business decisions. Read more.

CGC Invests In GreenieRE To Accelerate Access To Cheaper Power
The Coalition for Green Capital is pleased to announce an investment in GreenieRE, an impact-focused reinsurance company designed to remove financing obstacles in the insurance market to reduce costs and accelerate the deployment of clean energy technologies at-scale. Over the next decade, GreenieRE will create a ripple effect across the financing ecosystem and unlock private-sector investment toward qualified projects that allows access to clean cheap power. Read more.

Managing Partners Program Offers New Path To Insurance Business Ownership
Insurance professionals seeking to take control of their careers now have a clear, direct path to ownership through the newly launched Managing Partners Program. Designed to eliminate traditional barriers to business ownership, this program provides a turnkey solution with market access, mentorship, and cutting-edge technology, enabling experienced brokers to transition seamlessly from employment to ownership. Read more.


Insurance Works

Featured job opportunities:

Intermediate Underwriter - Personal Lines
Aviva Canada
Markham, ON

Financial Security Advisor
RBC Insurance Advice Centre
Montreal, QC


The Intersection: Insurance-Canada.ca Blog

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

Combatting Canada’s Auto Theft Crisis: Tackling ReVINing
By Hanna Beydoun, Insurance Bureau of Canada
In Canada, a vehicle is stolen every five minutes. This national crisis is disrupting the lives of Canadians and causing significant distress and financial strain. From 2018 to 2023, auto theft losses surged over 254%, surpassing CAD 1.5 billion in direct claims costs for private passenger vehicles. Part of the issue is that a growing number of stolen vehicles are rebranded and sold to unsuspecting customers in Canada through a practice known as reVINing. Read more.


InsurTech Spotlight

In the InsurTech Spotlight this week:

HelloSafe
HelloSafe is an international online insurance policy comparison platform. It is a completely free site, made available to consumers with the aim of helping them to facilitate their choice of insurance, and to bring more transparency to the market. Learn more.

Calling all InsurTechs! Click here to participate.


From Doug

AI Agents Growing More Sophisticated

IBM Watson on Jeopardy and the launch of ChatGPT are two of many memorable moments in computing for me. Some recent developments in insurance have likewise caught my eye.

The Professional Liability Underwriting Society from Minneapolis manages a certification program for professional liability insurance. Eight education modules – Fundamentals, CGL Overview, Medical, D&O, etc. – and exams lead to a Registered Professional Liability Underwriter (RPLU) designation.

Flow Specialty, San Francisco, is a specialty broker of wholesale insurance, industry veterans and breakthrough technology.

In its blog post “Flow Secures First Wholesale Insurance AI Agent to Pass RPLU Exams,” Flow Specialty announced an artificial intelligence broker capable of passing RPLU certification exams.

Flow's expert brokers gain real leverage: AI agents which can take meaningful work off brokers' plates.

Flow is building an ecosystem of AI agents which operate like the world's best assistants. Based on the GPT 4.0 Omni core, Flow's AI agents are trained on an ever-growing library of insurance materials...

More sophisticated? Yes.

Linking them together in an Agentic System will be even more awesome.

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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