INSURANCE INDUSTRY NEWS
Top Tech Mega-Trends & Insurance Implications
New technologies are inundating the world with real-time data and a change-pace so accelerated that it is difficult to make predictions. SMA's new Emerging Tech Landscape research report provides a big-picture view of the key developments in the tech world.
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Chubb Launches Proprietary Cyber Risk Index
Chubb has launched the Chubb Cyber Index, a new interactive platform that showcases years' worth of Chubb's proprietary commercial cyber claims data, designed to highlight a range of cyber threats.
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Delivering Next-Gen CX To The Applicant
What is behind the low adoption rates in life insurance for capabilities such as end-to-end electronic application, end-to-end eSignature, straight-through policy issuance, and eDelivery of policy? What can be done to drive higher adoption?
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Canadians Want Digital Access To Documents
Insurance Bureau of Canada has released the results of a survey that shows consumers want tech-enabled insurance products and services, highlighting the need for regulators to permit greater innovation in regulation overseeing the insurance industry.
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Majesco Highlights Knowing-Doing Gap
Majesco's new thought leadership report provides a strategic lens into the insurance industry's awareness of and responses to the rapidly emerging digital age gaps that are driving the shift to Digital Insurance 2.0 business models.
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2017 Global Disaster Losses Were Highest Ever
Total global economic losses from 2017 disasters were USD 337 billion, almost double the losses in 2016 and 2nd highest on record, the latest Swiss Re sigma study reveals. Global insured losses from catastrophe events, were USD 144 billion, the highest ever recorded in a single year.
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Probabilistic Model For Extreme Liability Events
Catastrophe modeling firm AIR Worldwide has announced that it is collaborating with RenaissanceRe, a global provider of reinsurance and insurance, as part of a joint effort to enhance the industry's modeling of long-tail casualty risk.
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Marsh Launches Marsh Digital Labs
Marsh announces the launch of Marsh Digital Labs, an incubator focused on experimenting in emerging technologies and developing innovative products, new business models, and strategic engagements with clients, carriers, and InsurTech companies.
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Gore Amalgamates Brokers Under Insurance Store
Gore Mutual Insurance Company has announced the creation of a new subsidiary company called Insurance Store Inc. to independently operate its owned distribution and test new ways of providing modern customer experiences both online and in-store.
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Value In Rethinking Spending, IT Management
In a new Enabling Innovation brief, research and advisory firm Novarica explores insights and best practices for insurers from its Silicon Valley Innovation Tour in the first quarter of 2018.
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Subdued Markets, Lively M&A: 1st View Report
Willis Re, the reinsurance division of Willis Towers Watson, has issued its latest 1st View renewals report.
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Sharing Economy Potential Still Unrealised
The sharing of assets and services creates new opportunities but also new risks, described in a new Lloyd's report analysing risk perceptions in the booming industry.
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Knight Archer Launches Online Auto Rating
Knight Archer Insurance is pleased to announce the launch of Saskatchewan's first online auto quoting service. The new capability is included in the company's consumer-facing quoting platform – ArrowQuote™. This launch marks an industry-first in providing Saskatchewan consumers the ability to compare auto extension policy options from multiple insurance providers.
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WTW Expands Cybersecurity Services With IBM
Willis Towers Watson is expanding its global advisory services aimed at addressing risk related to cybersecurity and will begin integrating IBM Security's suite of services to help clients assess, protect and recover from cybersecurity threats.
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Crawford Launches AccessibilityNow.com
Crawford Technologies, a provider of innovative document solutions, has launched AccessibilityNow.com, a new e-commerce site that makes it possible to quickly and cost-effectively convert PDFs into accessible documents. AccessibilityNow
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Symbility, HOVER Reduce Claims Adjusting Cost
Symbility Solutions Inc. and HOVER, a platform that offers an interactive 3D model of any property, are collaborating to enable claims adjusters to quickly generate roof or exterior property plans that facilitate creating estimates and adjusting a claim for policyholders.
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Equisoft Joins Forces With Kronos Technologies
Equisoft, a leading global provider of digital business solutions for the insurance and wealth industries, is pleased to announce the acquisition of Kronos Technologies, a frontrunner in the development of web and mobile applications for the investment and insurance sectors.
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iA To Acquire ABEX Brokerage Services
iA Financial Group has announced the acquisition of ABEX Brokerage Services Inc. and its subsidiary ABEX National Brokerage. ABEX is a managing general agency supporting independent insurance advisors in Western Canada.
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IBAO Opens New Startup Brokerage Category
The Insurance Brokers Association of Ontario is making changes to invite newly created Startup Brokerages to join their membership in order to better reflect the current range of brokerages in the province.
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Social Media Critical For Life Agents, Advisors
Life insurance customers are engaging online and through social media platforms as a way to evaluate financial products and financial professionals, according to a new study by LIMRA and Life Happens.
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Aviva Adds Earthquake Coverage To B.C.Policies
Aviva Canada introduces a new level of earthquake coverage embedded in all British Columbia (BC) homeowner and tenant insurance policies. The standard offering will be at no additional cost to new customers or current Aviva customers upon renewal.
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Nearly Half of Tenants Without Insurance
Approximately 4.5 million households in Canada are rented by tenants, and a recent Kanetix.ca survey suggests that nearly half (48.5%) of Canadian tenants don't have a tenant insurance policy to call their own.
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Unexpected Issues After Purchasing A Property
House hunters may be overlooking critical items to consider before making an offer. The second edition of the Allstate Insurance Safe Homeowners Study shows homebuyers and homeowners could avoid costly surprises if they are better informed.
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Peace Hills Extends DAS Partnership On LEI
Peace Hills Insurance has extended its partnership with DAS Canada to offer Legal Expense Insurance to Homeowner, Condo, and Tenant policyholders in six provinces and territories.
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