"Chronicle" weekly newsletter - Where insurance and technology meet

MARCH 14, 2017

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Driverless Cars Will Revolutionise Insurance
Widespread adoption of autonomous vehicles will completely transform the motor insurance sector in the long term as liability shifts towards manufacturers and the traditional risk pool shrinks, according to Fitch Ratings. Read more.

Limited Growth Prospects for Canadian Insurance
Slower consumer spending on big-ticket insurable items, as well as an aging population, will weigh on the outlook for Canadian insurance firms, according to The Conference Board of Canada's first outlook for the insurance industry. Read more.

Six Forces Shaping P&C Insurance in 2017
A potent combination of technological change, talent pressure and customer expectations is forcing Canada's property and casualty (P&C) insurers in 2017 to embrace innovation more urgently than ever. These three factors are among six forces shaping the P&C insurance industry in the year ahead, as revealed in EY's 2017 P&C Insurance Outlook. Read more.

DrivSafe Launches Mobile Telematics in Canada
DrivSafe is pleased to announce the launch of its mobile app in Canada, helping auto insurance companies to evaluate the driving habits of their policyholders in order to offer discounts to good drivers. Read more.

Enhancing P&C Carriers' Moment of Truth Through Innovation in Claims: Aite Group
The moment of truth for any property and casualty insurance policyholder is being made whole in the event of a loss. Yet for many policyholders, the path toward getting made whole is filled with obstacles, many of which are put in place by their carriers. Read more.

Desjardins Introduces New Flood Coverage
Thanks to new flood coverage (Endorsement 16d), customers of Desjardins Insurance, The Personal and State Farm Canada who live in low-risk areas will automatically be covered, at no charge, for damage caused by an overflowing waterway or dam break.
Read more.

Safe Texting Zones Can Save Lives
Aviva Canada applauds Private Member's Bill designed to combat distracted driving through the creation of designated safe texting zones. Read more.

IBAO Supports Bill To Limit Referral Fees
The Insurance Brokers Association of Ontario supports MPP Mike Colle's Private Members Bill 103, Personal Injury and Accident Victims Protection Act, which would help to protect consumers by amending the Law Society Act to prohibit licensees from soliciting, accepting or paying a referral fee in the case of a personal injury claim. Read more.

The Intersection: Blog

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

Canadian Disruptions, Eh?
Jason Storah is Executive Vice-President of Broker Distribution at Aviva Canada. Carrie Russell is Chief Strategist at the Fin+Tech Growth Syndicate, a consultancy which helps financial services organizations understand and leverage disruptive technologies.

The common element between the two is a deeply held belief that the customer is driving a revolution in the insurance and financial services industry. And meeting those expectations requires that the customer can use their preferred channel for communications and actions. This is referred to as ‘Omni-Channel.’ Read more.

From Doug

As we develop and market the Executive Forum – August 29, just in time for Fall planning – we are also beginning to design the 2018 Technology Conference and Broker Forum.

Tracking the dynamics of the insurance industry with our event themes, we have followed Innovation through Disruption to InsurTech in successive years. What will be a hot topic 12 months from now?

Evaluations by delegates indicate the top reason people attended this year was content – no surprise there. The second reason, closely related, was personal development.

Your preferences are directing our efforts as we work on our next program, and we have taken up the challenge to provide our best event yet.

We look forward to seeing you there.

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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