INSURANCE INDUSTRY NEWS

Canadian Insurance Market Remains Strong Amid Volatility: Aon
Aon plc has released its Spring 2025 Canadian Insurance Market Update. Published in support of Aon's ongoing commitment to help Canadian clients make better decisions about risk management and insurance programs, the report finds that the Canadian Property and Casualty market has proved to be remarkably resilient. Despite record breaking natural catastrophe losses in 2024 totaling $9.1 billion, the market remains well-capitalized with healthy competition and ample capacity. Read more.

Insurance In Transition: Embracing Innovation
The Canadian insurance industry stands at a crucial juncture as insurers contend with volatility and uncertainty, evolving customer expectations, and the imperative to invest in future-ready technologies, while responding to the escalating impacts of unprecedented natural catastrophes and severe weather. Insights from the EY 2025 Global Insurance Outlook reveal how insurers can foster growth amid these challenges. Read more.

Canada Must Shield Against Growing Wildfire Risk: IBC
Insurance Bureau of Canada is calling on Canadian policymakers to learn from the underlying factors that led to California's insurance crisis, which left one-tenth of California homes uninsured. As Canada's wildfire risk continues to grow, we must take action to improve resilience to reduce the human and financial toll of wildfires. Read more.

ACORD Launches New Data Standard To Support Digitalization
ACORD, the standards-setting body for the global insurance industry, is pleased to announce the launch of the next generation of the ACORD Global Reinsurance & Large Commercial (GRLC) Standards. “GRLC Generation 2.0” represents an updated, global, digital-first approach to data messaging, enabling straight-through, end-to-end processing across the policy lifecycle and the (re)insurance ecosystem. Read more.

New E-Signature, Workflow Support Platform Launched
MIB is pleased to announce that Paperless Solutions Group (PSG), a leading provider of cloud-based software solutions for the financial services industry, has launched a new e-signature and workflow support platform specifically designed to meet the unique needs of the life insurance industry. Read more.

Deloitte Launches Global AI Simulation Center Of Excellence
Deloitte is pleased to announce the significant scaling of its Global Artificial Intelligence Simulation Center of Excellence, which aims to help accelerate clients' decision-making processes, mitigate potential risks, and maximize their return on investment deployed. Leveraging real-time insights, the CoE seeks to develop advanced visualizations, simulations and scenario modeling, digital twins, and multi-agent systems. Read more.

Accenture Invests In Workhelix To Help Prepare Workforce For GenAI
Accenture is pleased to announce it has invested, through Accenture Ventures, in Workhelix, a tech-enabled services company that helps organizations get the most out of their AI investments. Workhelix solutions will be integrated into Accenture LearnVantage, which delivers comprehensive learning and training services that help organizations reskill and upskill their people across business dimensions, including data and AI, to achieve greater value. Read more.

Synex Enters Strategic Partnership With FSB Group
Synex Business Performance is proud to announce a new strategic partnership with FSB Group Ltd., which is comprised of two well-established brokerages based in the Greater Toronto Area, FSB Insurance Ltd. and FSB Commercial Ltd. Read more.

Origin And Cause Rebrands As OCI Group
Origin and Cause Inc., Canada's leading forensic engineering and fire investigation firm, is pleased to announce it has rebranded as OCI Group. Read more.

In the InsurTech Spotlight this week:

Alessa
Alessa is a solution designed to help insurance companies to review claims to ensure they comply with policies, detect those that require further investigation and track key performance indicators of programs – all to ensure that insurance companies can effectively manage operational costs and reduce losses due to fraud. Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Auto Commercial Underwriter
Aviva Canada
Dartmouth, NS

Financial Security Advisor
RBC Insurance
Montreal, QC

From Doug Autonomous vehicles for passenger transport are gaining traction. Waymo runs robotaxi services in San Francisco, Phoenix, Los Angeles, and Austin, with plans to expand to 10 more U.S. cities in 2025. It is also testing in Tokyo. Cities are adapting – Toronto approved an automated vehicle plan in 2019 to address both private and public uses. Worldwide, more than 35 cities are piloting autonomous shuttles to improve efficiency, reduce emissions, and ease congestion. A standout example in Hamburg plans to integrate autonomous ridepooling into public transit, starting with electric minibuses, scaling to 800 vehicles by 2027 and more than double that by 2030. Innovations include rider-defined routes, moving beyond fixed schedules. Innovations in ticketing: Germany has enabled nationwide public transit access with one monthly subscription. Switzerland allows unlimited travel across trains, buses, and boats with one pass. AVs will become a seamless part of these services. They're no longer theoretical – they're operating and expanding across both robotaxi and public transit systems. How is insurance evolving to meet these transformative changes in mobility? Doug Grant, CIP Partner Insurance-Canada.ca