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SEPTEMBER 5, 2017

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INSURANCE INDUSTRY NEWS

Smart Cities: Huge Implications For Insurers
As cities become more connected, new risks emerge, existing risks are amplified, and opportunities for new insurance products increase. SMA's new research report takes a close look at the state of smart city development and the implications for insurers.
Read more.

IoT Platform for Insurance: IBM White Paper
In a new white paper, IBM discusses how Internet of Things platform integration can impact insurers' core functions, including business operations, customer experience, product development and more.
Read more.

VR Poised To Influence, Enhance CX
Augmented and virtual reality boast considerable potential impact in insurance, including implications spanning risk mitigation, improved efficiency & loss ratios, and enhanced customer service. Novarica outlines the likely possibilities for these technologies in insurance in a new executive brief.
Read more.

Middlesex Mutual Launches Online Quoting
Middlesex Mutual Insurance Co. is pleased to introduce consumers to their automobile online quoting platform in partnership with Mutual Concept Computer Group Inc.
Read more.

Sun Life Takes Life Insurance Application Online
Canadians can now apply online for life insurance in less time than it takes to make a cup of coffee or wait for transit, thanks to Sun Life GO's streamlined application process. which can be completed while on the go from a smartphone or tablet in as little as ten minutes.
Read more.

Natural Catastrophes & Property Insurance
The CCIR has published the results and findings of the consultation on its July 2016 Issue Paper which reflected the CCIR's preliminary understanding of the issues related to natural catastrophes and personal property insurance.
Read more.

What Does A.I. Mean for Consumer Devices?
Gartner asked VP Research Annette Zimmermann to share her thoughts on announcements in the area of AI-powered devices she expects at IFA 2017, Europe's largest technology trade show in Berlin.
Read more.

Insured Damage From Spring flooding in Ont., Que.
Insurance Bureau of Canada (IBC) reports that two significant storm and flooding events in Eastern Ontario and Western Quebec resulted in more than CAD 223 million in insured damage, according to Catastrophe Indices and Quantification Inc. (CatIQ).
Read more.

Hundreds Injured On Gravel Roads Annually: MPI
Nearly 500 people are injured in crashes on gravel roads in Manitoba each year, according to Manitoba Public Insurance. MPI and the RCMP have partnered in a joint public awareness and enforcement campaign specific to gravel roads.
Read more.

Keep Kids Safe As School Returns: ICBC
With children returning to school, roads are busier than ever. ICBC is asking drivers to give themselves extra travel time so they aren't rushing and to avoid any distractions. Drivers need to be focused on the road and watch for children, especially in or around school zones.
Read more.



Pictures From ICEF2017

Photos from the 2017 Executive Forum have been posted online:

ICEF2017 ICEF2017



The Intersection: Insurance-Canada.ca Blog

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

A Changing Climate or a Climate for Change?
In the July edition of Insurance Business, a staff reporter penned a prescient headline: “Climate change: Can insurers take the heat?”

Supercomputers and analytic tools have improved weather predictions, and technology has vastly improved the provision of relief.

But what was missing in the 1970s is still missing. Read more.


"Winning With Convergence"
SMA Summit  •  September 18  •  Boston

Now is the time to register for the 2017 SMA Summit – 18 September in Boston. Seating is limited. Understand the magnitude of convergence and its impact on the insurance industry. Whether your focus is on business or technology ... or both ... this is a critical one-day investment in your future. Move beyond the "what" of digital, innovation, and InsurTech to learn "how" and "when" and "why" it will impact your company, and what you can do about it. See the agenda & speakers, and register today!

SMA Summit - September 18, 2017



InsurTechTO - Monday, November 6, 2017
November 6, 2017 – Westin Harbour Castle

Innovative entrepreneurs are creating technology-enabled solutions to problems they have identified in traditional insurance practices.

Are you among them? Interested in pitching your business to a panel of experts?

Five InsurTech start-ups will be chosen to pitch their ideas at InsurTechTO; apply today!

Are you into the InsurTech space? Be a sponsor!

Interested in learning and networking? Summer early-bird sale: extra savings until Sept. 22!

For complete details and registration, visit www.insurance-canada.ca/itto.



From Doug

Just how dramatically insurance is evolving became apparent at last week's Executive Forum. Insurance is becoming increasingly connected - in several directions.

Telematics is expanding, but is UBI? Matteo Carbone explored alternative cost-value propositions.

AI is creating a new man-machine relationship with implications for us all; how do we capitalize?

Most important of all are people-to-people connections; the immediate challenge is creating a “happiness halo” for your customers.

The characteristics of the insurance product itself are changing. Is on-demand coverage disrupting a market or creating a new one?

We think of innovation as something internal, but collaboration across the industry can open new doors. Cookhouse Lab showed us how. Check the later entries in the photo gallery to see how we tried it out.

Coming up next, InsurTechTO on Nov. 6.

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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