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Insurance-Canada.ca - Where insurance and technology meet

AUGUST 22, 2017

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INSURANCE INDUSTRY NEWS

Three Megatrends That Will Drive The Next Decade
The emerging technologies on the Gartner Inc. 2017 Hype Cycle for Emerging Technologies reveal three distinct megatrends that will enable businesses to survive and thrive in the digital economy over the next five to 10 years. Read more.

Accenture Launches Liquid Studio In Toronto
Accenture has opened the doors to a new Liquid Studio, where clients will work side-by-side with skilled Accenture professionals to turn ideas into innovative applications and solutions with speed and agility. Read more.

The Power of Analytics for Insurance: SMA
There is a new set of capabilities on the horizon that will take analytics to the next level. Artificial intelligence (especially machine learning), cognitive computing and other technologies promise to yield differentiating capabilities to insurers bold enough to leverage them. Read more.

BMW, Intel, FCA Partner On Autonomous Platform
BMW, Intel and Mobileye have signed an agreement with Fiat Chrysler Automobiles to develop a world-leading, state-of-the-art autonomous driving platform for global deployment. Read more.

Avoiding Communication Breakdowns: X by 2
An old real-estate adage claims the three most important elements in any sale are location, location, location! The same can be said for the practice of consulting by replacing “location” with the most important element of consulting: communication. Read more.

Life Insurers Lack Digital Strategy: Survey
Digital maturity among North American life insurers remains low, and half have no digital strategy in place, according to a new survey by Gartner and LOMA. Read more.

Policy Works & FIRST Canada Expand Integrated Payment Solutions
FIRST Insurance Funding of Canada and Policy Works are pleased to announce they have expanded the capabilities of their integrated payment solutions. Read more.

HDI Launches Excess & Surplus Lines Carrier
HDI Global Insurance Company is pleased to announce the formation of its excess and surplus lines subsidiary, HDI Specialty Insurance Company, a new platform for tailored, speed-to-market products and coverage for customers with unique risk profiles. Read more.

RBC Insurance Launches PATH Travel App
RBC Insurance has launched a free mobile app for IOS or Android devices that provides travel insurance clients with information such as travel alerts, stored policy information and even an emergency geolocator. Read more.

Canadians Overlook Insurance When Moving
While moving is exciting, it's important to protect your personal belongings during the transition. A recent study conducted by Square One Insurance Services found that 80% of Canadians are not properly insuring their belongings while they're in transit. Read more.

Homeowners Overlook Water Leak Exposure
A new survey from Chubb finds that while on vacation, just 19% of homeowners view internal water leak damage as the most concerning home threat, despite the fact that water leaks are a more frequent risk than fire and theft. Read more.



Nominations are open for the 2018 Insurance-Canada.ca Technology Awards

Nominations are now open for the 2018 ICTAs – start your nomination today. The submission deadline is December 1, 2017.

Discover the winners on Feb. 27, 2018, at the 16th annual Insurance-Canada.ca Technology Conference.



The Intersection: Insurance-Canada.ca Blog

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

Does Customer Engagement Need A Happiness Halo?
With a persistent soft market and heavy competition, insurers and brokers have implemented strategies to differentiate products and services to improve customer engagement. However, new, sophisticated measures are revealing important information that may suggest the significance of consumers’ emotional and financial needs. More data are available at the 2017 Insurance-Canada.ca Executive Forum (#ICXF2017), August 29 in Toronto. Read more.


“Insurance: Connected”
Insurance-Canada.ca Executive Forum
August 29 — One week left to register!

The premier event in Canada addressing P&C Insurance and the trends, opportunities and challenges that technologies – current and emerging – are triggering.

An intensive day will prepare you for your future, with cutting-edge topics including InsurTech, on-demand insurance (Trōv), customer engagement and CX, claims, cognitive computing and A.I., hackathons and collaboration.

Other industries are ahead of insurance. In “Retailization in Insurance: Designing for Trust,” Mukul Ahuja, Strategy & Innovation Leader, Monitor Deloitte, will outline strategies to pivot towards the customers' requirements.

Register now.

ICEF2017: 'Insurance: Connected' - 5th annual Executive Forum - August 29, 2017



From Doug

Those of us in the path of yesterday's solar eclipse were well-prepared. For centuries, those with the knowledge have been able to predict eclipses, but without modern communications to spread the word, how many were taken by surprise and wondered if the world was ending?

Con artists likely took advantage of the unwary – but for the most part, life would quickly return to normal.

Is there a parallel with InsurTech today? The aligning of the stars – technologies, consumer demands, capital – has created opportunities.

But unlike the eclipse, the effects of InsurTech will remain even if the buzz dissipates, leaving behind a faster rate of change, reimagined processes, new product dimensions, and more.

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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