"Chronicle" weekly newsletter - Where insurance and technology meet

OCTOBER 18, 2016

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Small Businesses Unprepared For Cyberattacks
More than three-quarters of small-business owners still don't have a cyberattack response plan, even though more than half have fallen victim to at least one type of cyberattack, according to Nationwide's second annual Small Business Indicator survey. Read more.

Aon To Acquire Risk Management Firm
As the complexity and severity of cyber risk continues to expand, threatening organizations across all industries, Aon Risk Solutions has announced it has entered into an agreement to acquire all of Stroz Friedberg Inc., a leading global risk management firm based in New York City, with offices across the U.S. and in London, Zurich, Dubai and Hong Kong. Read more.

Information Builders Natural Language Analytics
Information Builders has partnered with artificial intelligence software company Yseop to bring Narrative Charts to the WebFOCUS platform, facilitating the automatic language generation and interpretation of charts, visualizations, and other BI content to enable Information Builders customers to instantly understand the implications of their data. Read more.

Changing the CX Landscape with Analytics
That timeless principle – “Know Your Customer” – has never been more relevant, and today's financial institutions have all the data necessary to know the customer deeply. One of the newest trends is dynamic segmentation, which goes well beyond conventional predictive analytics. Read more.

League Launches Health Insurance for Businesses
League, the digital alternative to traditional health insurance, has introduced a full suite of insurance products to its robust portfolio of health benefits, offering unprecedented choice, convenience and value to small businesses. Read more.

Blockchain Smart Contracts To Save Billions
A report by Capgemini's Digital Transformation Institute reveals the average consumer could save more than USD 500 in banking and insurance fees thanks to the emergence of blockchain-based smart contracts. Read more.

Reinventing Claims: Pioneering a New Approach
Most innovation in claims relies heavily on improving decision quality, improving customer service, and driving process efficiencies. Continued investments in core systems, analytics, and digitized services will drive the innovations in the next five years. Read more.

Munich Re harnesses SAS for Big Data Platform
Munich Re, the world's largest reinsurer, is relying on SAS® Analytics and Hortonworks Data Platform (HDP) for its big data initiative. Together with its technology partners, the reinsurer has installed an innovative platform capable of analyzing extraordinarily large quantities of data. Read more.

Hard Trends Report: Strategic Future Issues
The Agents Council for Technology (ACT) Strategic Future Issues (SFI) Work Group has released the first phase of its Hard Trends report, providing a comprehensive update and enhancement of the major ‘Hard’ trends impacting both the way we do business and the way we serve our customers. Read more.

BrokerTeam, BrokerLift Partner on eCommerce
BrokerTeam Insurance and BTI Direct Insurance extend their commitment to superior customer service by offering end-to-end eCommerce functionally to their customers – a relatively new capability in the insurance space. Read more.

The Co-operators Selects EquiSoft WealthElements
The Co-operators will implement EquiSoft's WealthElements platform and new Client Portal Module across its financial advisor network to enhance the wealth planning process for Co-operators financial advisors and clients across Canada. Read more.

Esurance Introduces Homeowners Insurance in Alberta
Esurance, the online direct-to-consumer insurance company, has announced it is now offering homeowners insurance in Alberta, making it the first province where homeowners insurance is available from Esurance. Read more.

Safeguard Your Online Identity to Prevent Fraud
October is Cyber Security Awareness Month, and Insurance Bureau of Canada is reminding Canadian consumers that safeguarding your identity can help prevent insurance fraud. Read more.

The Intersection: Blog

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

Cyber Risk and Self-Driving Cars
If you scan this blog, you will note that we have a high interest in autonomous vehicles. Data demonstrate that they can bring reductions in injuries and deaths alongside improvements in transportation effectiveness. But there are new risks which need to be addressed. Is this an opportunity or just a large challenge? Read more.

Why Are They Smiling?

Trillium's 2016 ICTA

The Trillium team celebrates their achievement as a runner-up at the 2016 ICTA awards ceremony.

Join the fun. Reward your team. Celebrate!
Nominate your success today. Tech Awards

From Doug

This weekend we attended homecoming celebrations at Queen's University – my wife's alma mater – where there was lots of activity as alumni and students alike, many of them decked out in Queen's colours, enjoyed the activities and wonderful fall weather.

The undergraduate population is largely Gen Z (born 1996 and after). Accustomed to choice amid variety, they are analytical in their decision-making and selective in their choices. As they join the ranks of new consumers – and new employees – it will be an interesting challenge for the insurance industry.

Doug Grant, CIP

Doug Grant

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

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