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AUGUST 8, 2017

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INSURANCE INDUSTRY NEWS

Geo-Spatial Analysis & Connected Vehicles
Strategy Meets Action has published a new blog by Mark Breading, titled “Connected Vehicles and Insurance: Geo-Spatial Analysis as a Critical Success Factor,” on the massive transformation facing the transportation sector.
Read more.

Rise of SaaS Requires Rethinking Continuity Plans
SaaS- and cloud-based core products are increasingly attractive to insurers. In a new executive brief, research and advisory firm Novarica outlines key considerations and best practices for insurers in escrowing SaaS applications in the event of business interruption.
Read more.

WealthBar and PPI Launch Robo-Advisor Platform
In a first for Canada, WealthBar and PPI are providing a new platform called PPI Valet, powered by WealthBar, that lets PPI advisors deliver a far-ranging suite of investment options.
Read more.

Economical Launches Cyber Protection In Canada
In response to the escalating global threat of cyber attack, Economical Insurance has launched EXPERT® Cyber coverage, available to commercial policies to support Canadian businesses in the event of a data breach.
Read more.

Symbility, DeepLearni.ng Partner On Artificial Intelligence
Symbility Solutions has entered into a new partnership with Toronto-based DeepLearni.ng, a provider of enterprise artificial intelligence solutions, to provide the knowledge and tools required to successfully introduce A.I. into Symbility's technology stack.
Read more.

McDougall Merges With Monkman Gracie Johnston
Ross McDougall, CEO of McDougall Insurance and Financial, is pleased to announce that McDougall has merged with Monkman Gracie Johnston Insurance, effective immediately, and is pleased to welcome the employees of Monkman Gracie Johnston Insurance into the McDougall organization.
Read more.

Généralys, ESSOR Merge To Create Powerhouse
Généralys Assurance – one of the largest insurance brokers in home, automobile and commercial insurance in the region of Quebec – is proud to team up with ESSOR Insurance, effective July 1st, 2017.
Read more.

Arthur J. Gallagher Acquires GPL Assurance
Arthur J. Gallagher & Co. has announced the acquisition of GPL Assurance Inc., located in Montreal, Quebec. Terms of the transaction were not disclosed.
Read more.

Verisk Announces Remote Sensing Capabilities
Verisk Analytics, a leading data analytics provider, has announced a range of new capabilities in its Geomni business unit. In addition, Verisk is investing in the most technologically advanced and efficient aerial surveying platforms available.
Read more.

Empire Life Launches Segregated Funds App
The Empire Life Insurance Company has introduced a new online investment application for segregated funds to make it simple, fast and easy for clients to apply for segregated fund policies while meeting with their advisor.
Read more.

July Premium Renewal Rate Change: IVANS Index
In July 2017, premium renewal rate change for the majority of standard commercial lines products remain in positive territory, according to IVANS, a division of Applied Systems. Workers Compensation is the one product that remains in the negative premium renewal rate.
Read more.

Illegal Secondary Rental Suites Widespread
More than one-tenth of all house owners rent out a portion of their home to non-family members, and 17% of rental suites in detached houses are considered illegal, according to a new survey by Square One Insurance Services.
Read more.


The Intersection: Insurance-Canada.ca Blog

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

Moving Beyond the ‘Trust’ Factor: Challenging the Traditional Marketing Approach
By Justin Thouin, LowestRates.ca
In the insurance industry, one marketing priority has always stood out: building trust. Trust is how awareness spreads; it is what allows consumers to feel good about choosing a certain brokerage or brand over another.

But is trust enough to capture the loyalty of an increasingly informed audience? An audience that instantly compares options for everything from travel to retail to finance? Read more.


“Insurance: Connected”
ICEF2017: 'Insurance: Connected' - 5th annual Executive Forum - August 29, 2017
Tuesday, August 29, in Toronto

The digital transformation of insurance – innovation, disruption, InsurTech – is gathering speed. The changes are dramatic.

It is partly a response to today's digitally-immersed consumers, who are accustomed to interacting anytime, anywhere, from any device.

Claims is an especially crucial touchpoint through which insurers can demonstrate their value.

In “The Digital Evolution of P&C Claims,” Keith Raymond, Vice President of Research & Consulting at Novarica, will provide insights on key elements of this digital claims revolution.
Register or learn more.



From Doug

Yesterday was the Civic Holiday across much of Canada. Some municipalities in Ontario name it Simcoe Day, honouring the province's first Lieutenant Governor, appointed in 1791.

Simcoe organized the governing legislative and executive bodies, drove road construction and surveying of towns and rural lots, sought immigrant settlers, maintained good relations with First Nations, banished slavery, and negotiated Jay's Treaty with the U.S. – laying much of the foundation of Ontario.

What would such a figure look like in insurance in 2017? An innovator? Disruptor? InsurTech? Certainly a leader. Leaders of today will be speaking at our Executive Forum this month – join us as we explore technology and insurance for today and tomorrow.

Doug Grant, CIP
Partner
Insurance-Canada.ca

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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