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Insurance-Canada.ca - Where insurance and technology meet

APRIL 3, 2018

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INSURANCE INDUSTRY NEWS

Digital Disruption In Insurance
Established insurance companies have their established ways of doing business and they are good at being what they are. Each insurer must look at its own market, products and organization and decide if digital is just warming things up slowly or hitting the ground as a blazing meteor. Read more.

New Innovative Financial Needs Analysis Solution
New needs analysis tools in Equisoft's WealthElements™ suite and Client Portal module will allow The Co-operators' network of financial advisors to provide an innovative and client-centric experience when discussing a client's life and wealth needs. Read more.

1st Group RRSP Plan For Small-Med. Business
Nest Wealth, a leader in financial investment technology, is pleased to announce the official launch of Nest Wealth at Work, Canada's first fully-digital group RRSP plan for small-to-medium-sized businesses. Read more.

Top 5 Themes For Commercial Lines Projects
SMA's latest Strategic Initiatives in Insurance research study shows that the P&C commercial lines industry is going through change, which is having a profound impact on strategies, priorities, and technology investments. Read more.

Record-Setting Mergers & Acquisitions In 2017
While 2017 global mergers and acquisitions transactions for insurance distribution set new records, insurance services were down from prior year despite a strong technology focus, according to a new study by Conning. Read more.

AIG Launches On-Demand Travel Insurance App
Travel Guard Group Canada Inc., an AIG company, has launched an innovative travel insurance app allowing Canadian customers (outside of Quebec) to purchase coverage in blocks of time through their phone. Read more.

The Gig Economy: Cake & Arrow Case Study
Cake & Arrow have announced the publication of a new case study exploring the future of insurance in the age of the gig economy. Following hours of user research and testing with hundreds of gig workers, the case study explores key insights from the research, and offers user-tested design tips for insurers and insurtechs looking to build their own gig economy products. Read more.

Zycomp Systems To Integrate CSIO eDelivery
Zycomp Systems Limited has announced plans to integrate CSIO's My Proof of Insurance eDelivery solution with the upcoming version of Power Broker Management System, enabling brokers to send digital policy documents for personal and commercial lines, including proof of auto insurance (eSlips), to customers. Read more.

Trufla Celebrates New Bullfrog Website
Trufla Technology is pleased to announce the launch of the redesigned Bullfrog Insurance website at bullfroginsurance.com. Read more.

McFarlan Rowlands Acquires DA Kurt
McFarlan Rowlands Insurance Brokers, based in London, Ontario, have announced they will acquire DA Kurt Insurance Brokers of Kitchener, Ontario. DA Kurt will become McFarlan Rowlands' 16th branch in the province. Read more.

Evaluating Stand-Alone Life Claims Systems
Aite Group's newest report explores stand-alone claims solutions available to North American life insurance carriers that are looking to develop more digital claims processes to support the beneficiary experience. Read more.

A.I. Can Read Handwriting Better Than Humans
Captricity, a leader in digital automation for enterprise, is pleased to announce Captricity READ, the first AI-powered software that outperforms humans at reading handwriting Read more.


The Intersection: Insurance-Canada.ca Blog

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

InsurTech Today: From Gee Whiz to Gee Wins
In the mid-1990s, forward-looking insurance pros saw the commercial internet as an engine for new models, information, distribution and insurance products. The necessities around dealing with the potential 'Y2K bug' managed to suck large quantities of resources for multiple years, effectively burying hope. But the currently maturing InsurTech movement is making a stronger push, raising hopes. Will it succeed? Read more.


Insurance-Canada.ca “Technology In Action” Series

Webinar: Data Science, ML & AI

As CX becomes more critical, AI and machine learning are opening the door for innovation.

Explore the progress made in AI, Machine Learning, and other applications of data science.

On April 9, hear from Rob Fursey, IBM Canada Watson AI Practice, and guest Hashmat Rohian, The Co-operators. Details.
 

Seminar:
AI – The Foundation of Next-Gen Insurance

AI will support insurance professionals – including underwriters, claims professionals, risk managers, finance professionals, marketers, and brokers – in ways never imagined before. Half-day seminar, morning of Wednesday, May 30. Details.



From Doug

It must be spring – baseball season has begun. Sports and stats go together, but the pace of change seems to have quickened. Analytics has enabled better player positioning; instant replay has removed some of the subjectivity.

I wonder; is there a SportTech revolution underway? Does AI have a place on the field as well as in the back office?

We are immersed in a new culture of rapid change whose mandate is to keep up with technology innovation while warding off potential disruption.

Along with InsurTech, AI is suddenly everywhere, reading handwriting, performing administrative tasks, assisting with customer service, claims, underwriting, reinsurance, sales and advice ...

Our next two events focus on AI. Join us – links above.

Oh, and my second sign of Spring, the crocuses are out in the park across the street. No technology baked into that one – or is there?

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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