INSURANCE INDUSTRY NEWS
Canada's First Consumer Home Cyber Coverage
The Boiler Inspection and Insurance Company of Canada (BI&I), part of Munich Re, has announced the launch of Home Cyber Protection, the first personal lines cyber insurance product for consumers in Canada which offers a suite of coverages and services for cyber attacks, cyber extortion, online fraud and the breach of personal information involving smart phones, computers and connected home devices.
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The TIC Reveals “The D/X Initiative”
The Toronto Insurance Council has celebrated the launch of the Data Exchange Initiative with a demonstration of how D/X principles are used to achieve real-time data integration between insurer technology platforms and Broker Management System platforms at an accelerated pace. Vertafore and its Canadian-focused solution, Keal Technology, were one of the few BMS vendors involved early on in this project, demonstrating their commitment to the Canadian broker community.
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InsurTech Transactions Reach New Peak in Q2
The number of 71 InsurTech funding transactions during the second quarter of 2018 reached a record high, and set a new record for the volume of incumbent participation in InsurTech investments. However, the total invested is down 20% against the prior quarter, according to the new Quarterly InsurTech Briefing from Willis Towers Watson, the leading global advisory, broking and solutions company.
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CMO Collaborators Driving Business Growth
New global research released by Accenture and conducted by Forrester Consulting reveals an opportunity for chief marketing officers (CMOs) to expand their remit by assuming the role of “CMO Collaborator” to drive customer experience, a proven source of growth in modern organizations.
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InsureTech Connect 2018: Where Will It All Lead?
There's no doubt about it. InsureTech Connect has become the biggest and most influential tech event in the insurance industry. The entire ecosystem of insurance is well represented – you name it, they are here. Insurance is transforming, and the questions are: Why is this happening? Why now? How long will this continue? And most importantly, where will it all lead?
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Symbility Integrates HOVER Platform Into Claims
Symbility Solutions, a software company focused on modernizing insurance, and HOVER, a platform that provides an interactive 3D model of any property, have announced their full product integration. This enables insurance adjusters using Symbility's cloud-based claims management system to pull in HOVER's powerful data package in order to process claims quickly and accurately.
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Sovereign Launches New Manufacturing Cover
The Sovereign General Insurance Company is launching new and enhanced coverage features for its manufacturing solutions as it continues to refine its industry-based approach to product management. These coverages will be available for renewals and new business starting December 1st.
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WILMIC Goes Live with ISI Enterprise
Insurance Systems Inc., a provider of enterprise software solutions to the property and casualty insurance industry, is excited to announce that Wisconsin Lawyers Mutual Insurance Company has gone into production on the ISI Enterprise solution. WILMIC, the premier provider of lawyer's professional liability insurance in Wisconsin, will be using ISI's software solution for its core insurance operations.
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Geomni, DroneBase Partner On Property Inspections
Geomni, a Verisk business, and DroneBase, the world’s largest global drone operations company, has announced a strategic alliance that adds DroneBase’s pilot network and API to Geomni’s fleet of fixed-wing aircraft to expand property inspections globally.
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Co-operators Acquires Robert Poirier Insurance
The Co-operators announced today it has purchased Robert Poirier & Associés, Courtier d'assurance inc. (Assurance Robert Poirier) in Gatineau, Quebec. The brokerage's portfolio includes personal and commercial insurance policies. Any existing insurance coverage a client has will remain in effect for the current term of their policies.
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Totten Acquires Anderson McTague & Associates
Totten Insurance Group Inc., a leading national insurance managing general agency, has announced that it has acquired Anderson McTague & Associates Ltd. Terms of the transaction were not disclosed.
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Robotics To Be Mainstream In Finance By 2020
Corporate controllers are set to dramatically increase their adoption of robotic process automation (RPA), according to new research by Gartner, Inc. Today, RPA is used by just 19 percent of controllers, but that number is set to grow to 73 percent of controllers by 2020.
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Millions Of Canadians Have Driven High
With the legalization of cannabis less than two weeks away, CAA South Central Ontario (CAA SCO) is releasing new research showing that millions of Ontario motorists have driven under the influence of cannabis, and more than 735,000 have done so in the last three months.
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Cannabis & Impaired Driving: Canadians Concerned
With the legalization of cannabis approaching, the vast majority (84%) of Canadians are concerned about cannabis-impaired drivers on the road, according to a recent poll conducted by Leger on behalf of Insurance Bureau of Canada (IBC).
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ICBC Cautions Drivers Over Road Conditions
ICBC is asking drivers to give themselves extra travel time so they aren’t rushing and more likely to speed. Drivers should be completely focused on the road and be watching for children, especially in or around school zones.
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