Insurance-Canada.ca - Where insurance and technology meet

MARCH 20, 2018

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Insurance-Canada.ca Blog - The Intersection

INSURANCE INDUSTRY NEWS

Desjardins Launches New Innovations
New innovations from Desjardins offer customers more simplicity and peace of mind, from flood coverage, severe weather notifications, and the Alert water damage prevention program to easy online auto insurance purchase and claim submission. Read more.

Marsh Joins Ethereum Blockchain Alliance
Marsh has joined the Enterprise Ethereum Alliance, the world's largest open-source blockchain initiative, which seeks to create open industry standards and frameworks for blockchain applications based on the core Ethereum platform. Read more.

Wawanesa Deploys Guidewire Platform
Wawanesa, one of Canada's largest P&C insurers, has begun the national roll-out of Guidewire InsuranceSuite™ products in its Alberta operations, following the successful implementation across all personal lines of business in the United States. Read more.

TechCanary, Bold Penguin Streamline Commercial Lines Sales
TechCanary has partnered with Bold Penguin, an InsurTech portal provider delivering a more streamlined insurance experience via an online marketplace for commercial lines Property & Casualty agents. Read more.

ClaimsPro Strengthens Quebec Coverage
ClaimsPro/IndemniPro today announced that it has acquired two of Quebec's leading loss adjusting firms, Dubuc, Lessard et Associés and Steve Foster Expertises Inc. Read more.

Arthur J. Gallagher Acquires Palmer Atlantic
Arthur J. Gallagher & Co. has announced the acquisition of Palmer Atlantic Insurance Ltd., located in New Brunswick, Canada. Terms of the transaction were not disclosed. Read more.

Co-operators, Central 1 Streamline Partnership
To strengthen the core businesses of both organizations, The Co-operators and Central 1 Credit Union are announcing a change in their partnership. Read more.

IBAO, Gore Mutual Partner To Support Brokers
The Insurance Brokers Association of Ontario is pleased to announce its partnership with Gore Mutual on the redesign of the IBAO Classroom in Toronto to heighten the experience for students earning RIBO Level l and ll licences. Read more or Gore's release.

IBAM Endorses CSIO eDelivery Solution
CSIO is pleased to announce that the Insurance Brokers Association of Manitoba has endorsed its My Proof of Insurance eDelivery solution to send consumers their policy documents for personal and commercial lines electronically. Read more.

Brokers Focus On Improving Digital Workflow
In a new report, Novarica provides an overview of large commercial brokers' business and technology issues, data about the marketplace, and recent technology investments by large commercial brokers. Read more.

Caradoc Townsend Implements MCCG Solution
Caradoc Townsend Mutual Insurance Company has successfully completed their implementation of Mutual Concept Computer Group's Insurance Business Solution as their enterprise back-office solution. Read more.

LowestRates.ca Auto Insurance Price Index
LowestRates.ca launched its 2018 Auto Insurance Price Index report, the only price index that uses proprietary data to track the average cost Canadians pay for car insurance. While prices in Alberta have been trending upward, in Ontario they have decreased over the past year. Read more.

IBC Signs On To Sustainability Principles
Insurance Bureau of Canada has announced that it has signed on to UN Environment's Principles for Sustainable Insurance. Read more.

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

Cyber Insurance is Gaining Traction, But Is There Direction?
Jason Contant of Canadian Underwriter recently noted that cyber risk coverage is expanding "from simple data breach projection into the area of business interruption-with more changes likely in store." But the plethora of coverages, exclusions, and conditions could wreak havoc upon insureds and intermediaries alike. Can this be reconciled? Read more.

From Doug

As illuminated by InsurTech, there is a huge opportunity for improvements in insurance processing and customer relations. That said, the digital transformation has been underway for some time – modern core systems, social, eCommerce and more have driven the CX stakes higher.

Technology is both an enabling force (for insurance practitioners) and a driving force (for consumers). We all strive to address expectations by providing great customer experience, which has motivated the deployment of myriad improvements throughout the insurance ecosystem.

Many of our changes are reliant on data, and progress will be increasingly dependent upon even more and better data.

The hottest emerging technologies seem to be voice, AI, and blockchain; all show great promise.

Explore the path(s) to future advantage with Insurance-Canada.ca – later this week, we will be announcing the first event in our Technology in Action series to help you along your digital journey.

Doug Grant, CIP
Partner
Insurance-Canada.ca

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