"Chronicle" weekly newsletter - Where insurance and technology meet

SEPTEMBER 12, 2017

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Canadian P&C and Life Sectors Remain Stable
Canada's property/casualty and life insurance sectors continue to demonstrate stable operating performance, despite the potential market pressures brought on by growing weather and fire catastrophes and a persistently low interest rate environment, according to a new A.M. Best special report. Read more.

IMS Telematics Solution Offers Fleet Management
Intelligent Mechatronic Systems has announced an insurance telematics offering that meets the specific fleet insurance needs of commercial lines carriers, combined with full fleet management capabilities. Read more.

Disconnect In Cyber Insurance Underwriting
Aite Group's latest report discusses how cyber insurance underwriters lack both experience with cyber issues and meaningful data during the cyber insurance underwriting process. Read more.

Smart Cities & Smart Choices For Insurers
One of the most significant new ecosystems developing has to do with smart cities. A new SMA research report profiles leading smart cities around the world, identifies specific benefits and projects underway, and discusses how each insurance line of business will be affected. Read more.

Open Architecture Innovation Will Drive Growth
Aon plc, the leading global professional services firm providing a broad range of risk, retirement and health solutions, has launched its annual Global Insurance Market Opportunities (GIMO) report, which examines key areas of potential growth for insurers. Read more.

Insurance Helps Emerging Markets Develop
A growing body of empirical research on economic development in the emerging markets shows insurance facilitates higher income generating opportunities and contributes to improved quality of life, according to the latest Swiss Re sigma study. Read more.

Key Lessons: Silicon Valley Innovation Tour
In a new brief research and advisory firm Novarica explores insights and best practices for insurers from its Silicon Valley Innovation Tour in the third quarter of 2017. Read more.

ACORD, EY Launch Insurance Blockchain Platform
The insurance industry has taken a significant step forward with the launch of the world's first marine insurance blockchain platform. EY, Guardtime, and other industry participants developed the new blockchain platform, leveraging ACORD Standards and business processes. Read more.

IMS SDK Simplifies Delivery of Telematics
Intelligent Mechatronic Systems has introduced the IMS Software Development Kit for organizations looking to build connected car and telematics services directly into existing or new mobile applications. Read more.

Octo Launches ‘Glimpse Plus’ Telematics Solution
Octo Telematics has announced the release of Glimpse Plus, a cutting-edge, digitally-enabled telematics service that provides insurers with more reliable, accurate data on driving behavior, crash detection and claims analysis. Read more.

WILMIC Selects ISI Enterprise For Transformation
Insurance Systems Inc. is pleased to announce that Wisconsin Lawyers Mutual Insurance Company has selected ISI Enterprise for its core system transformation. Read more.

Hub International Acquires Integro
Hub International Limited, a leading global insurance brokerage, announced today that it has acquired Integro (Canada) Ltd. Terms of the acquisition were not disclosed. Read more.

IFRS 17: Action Vs. Reaction
The impact from IFRS 17 will be felt across the finance function and may require changes to both strategic financial management processes and the finance operating model. Have you considered all the challenges? Read more.

Canadians' Retirement Savings Falling Short
Despite signs of economic improvement, most employed Canadians are no better off when it comes to their retirement prospects, according to a survey by the Canadian Payroll Association. Read more.

Insurer To Study Internet-Delivered Therapy
The Co-operators, together with the University of Regina, is pleased to announce a research study focused on the benefits of Internet-delivered Cognitive Behavioural Therapy (ICBT), designed to support stay-at-work and early-return-to-work situations for employees facing a mental health condition. Read more.

Debunking Misconceptions About Crime Insurance
The Guarantee has released two new videos debunking common misconceptions about crime insurance: “I Trust All of My Employees” and “We Have Coverage.” Read more.

Too Many Quebecers Lack Home Insurance
With summer moving season over and tenants now in their new homes, Insurance Bureau of Canada has noted with concern that many Quebecers still don't have home insurance. Read more.

Distracted Driving Deadlier Than Impaired Driving
Distracted driving continues to claim more lives on B.C. roads than impaired driving, despite tougher penalties, more police enforcement and continued public education. Read more.

Safer School Zones Start With Better Driving
School zones are busy spots, but if drivers take extra care and caution, they don't have to be dangerous for kids. Read more.

The Intersection: Blog

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

Artificial Intelligence: The Sine Qua Non for Future Insurance?
Since the mid-1950s, technology, business, and academic professionals have been intrigued by the concept of Artificial intelligence. Fast-forward 60+ years and we are now seeing commercial implementations in various sectors, including insurance. Will risk and insurance professionals embrace this development? Read more.

Upcoming Seminar:
Are You Ready for IFRS17?

Get prepared with the information and tools you need to comply.

7:30am, Wednesday, September 20

150 King St W., Toronto

Agenda and registration

Hosted by:
Hosted by KPMG, Q_PERIOR & CCH Tagetik

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

Insurance is abuzz over InsurTech, which promises to increase the pace of the industry, if not disrupt it more profoundly.

Explore the Toronto scene on November 5 at a brand-new event, featuring:

  • Lessons learned from leading insurers;
  • Broker 2.0: Transformation of the modern broker;
  • CEOs: Creating a culture of innovation;
  • Pitch competition for InsurTech startups;
  • Disrupting stakeholder relationships.

Extra summer early-bird savings until Sept. 22!

Details and registration at Technology Awards

Celebrate your insurance & technology success.

Reward your team.

Start an ICTA nomination today.

Discover the winners Feb. 27, 2018, at the 16th annual Technology Conference.

From Doug

As I write this on September 11, I can still vividly recall where I was on the same date in 2001 and the shock and dismay I felt.

It is with an equally heavy heart I think of the major natural disasters which seem all around us now – BC and prairie forest fires; hurricanes Harvey, Irma, Jose; and further afield, the monsoons and floods in Asia which are also devastating but receiving little attention here.

Although predictions and preparedness have dramatically improved, the routine of ignoring potential disasters and the deficit in risk management are compounding the frequency and severity of problems caused by climate change.

Even as we keep improving, many will suffer from past sins. The silver lining is that the insurance industry seems to be responding to calamities with increasing speed and effectiveness. Thank you all.

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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