Insurance-Canada.ca "Chronicle" weekly newsletter
Insurance-Canada.ca - Where insurance and technology meet

NOVEMBER 20, 2018

Connect with us:  Insurance-Canada.ca Home Insurance-Canada.ca Blog - The Intersection Insurance-Canada.ca on LinkedIn Insurance-Canada.ca on Twitter

INSURANCE INDUSTRY NEWS

Insurance Marketplace Realities 2019
Two separate trends are currently impacting market conditions for insurance buyers. The first is a relatively modest but definite rise in rates across most liability lines of insurance, in response to relentless loss activity. The second trend is a resurgence of mergers and acquisitions among insurers – particularly “mega deals.”
Read more.

Life Insurers Enhancing Claims Systems: Novarica
As carriers look to improve claims processing, vendors are responding with solutions that provide improved integration, more analytics, and other capabilities and support for new product features. In a new brief, Novarica discusses trends and carrier needs, and profiles six prominent providers of standalone life claims solutions.
Read more.

Robotic Process Automation In Life & Health
Life and health insurance carriers around the world struggle to recognize RPA as an opportunity to be more operationally efficient and scalable, reduce operating costs, enhance skill sets, and grow the business without increasing headcount. Aite Group's latest report examines the value added by combining RPA with human intelligence.
Read more.

Aviva Launches Onpoint For Small Business
Aviva Canada is pleased to announce the launch of Aviva Onpoint™ insurance, tailor-made for small enterprises in business and professional services, contracting and retail. This solution offers relevant and specific insurance coverage for broker clients at an affordable price point.
Read more.

Gore, CSSI Enable Real-Time Direct Rating In BC
Custom Software Solutions Inc. is pleased to announce a new partnership with Gore Mutual that enables real-time, direct rating ability for brokers in British Columbia. The integration project connects CSSI's broker management system The Broker's Workstation (TBW) and vendor rating software IntelliQuote (IQ) with Gore Mutual's rate tables.
Read more.

Terrorism Threat & Mitigation Report 2018
Pool Re has published its 2018 Terrorism Threat & Mitigation Report, which provides an overview of significant acts of terrorism during the year as well as identifying key trends and themes that Pool Re believes are relevant to the terrorism (re)insurance market.
Read more.

Applied TAM Launches Integration With CSIO
The Centre for Study of Insurance Operations (CSIO) is pleased to announce that Applied has launched its integration with CSIO's My Proof of Insurance eDelivery solution in Applied TAM in its latest general release. The My Proof of Insurance eDelivery application programming interface (API) supports integration with BMS platforms and carrier systems. With this integration, insurance brokers may send digital policy documents including proof of auto insurance (eSlips) to personal and commercial lines consumers through My Proof of Insurance, directly within TAM.
Read more.

IBC Position Paper On Automated Vehicles
Insurance Bureau of Canada has released a position paper, Auto Insurance for Automated Vehicles: Preparing for the Future of Mobility. Its recommendations were developed over two years by auto insurance experts with input from a panel of legal advisors. IBC would like to thank the insurer representatives and legal advisors who worked on developing the recommendations in this paper.
Read more.

Intact Joins Pilot UN Climate Change Taskforce
To better protect communities and economies, Intact Financial Corporation has announced it will be part of the United Nations Environment Programme Finance Initiative (UNEP FI) Task Force on Climate-related Financial Disclosures (TCFD) pilot. The pilot brings together 16 of the world's largest insurers to better understand the impacts of climate change on their business – integral for the insurance industry in their role as risk managers.
Read more.

Towerhill Insurance Brokers Joins BrokerLink
Ontario-based Towerhill Insurance Brokers Inc. has sold its book of business to BrokerLink, citing BrokerLink's investment in technology to stay competitive and meet customer expectations as a key reason for the sale.
Read more.


Insurance-Canada.ca Technology Awards (ICTAs)

Nominations are open for Insurance-Canada.ca's annual Technology Awards.

Act now to reward your team – the deadline to nominate is next Friday, November 30.

Go for gold: Start your nomination.

Start Your Nomination!

Complete details at insurance-canada.ca/icta.


The Intersection: Insurance-Canada.ca Blog

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

How MGAs Are Positioned To Innovate In The Insurance Market
By Triinu Murumäe, Insly
Managing general agents (MGAs) and innovation go well together. A combination of resources, agility, and specialist knowledge sets MGAs apart from other players in insurance, whether carriers, wholesalers, or brokers. An MGA typically has a focus on a sector or an industry and deeper knowledge than a more generalist insurance carrier, facilitating innovation. At the same time, MGAs have underwriting and claims settlement capabilities that brokers and agents do not have, allowing the MGA to push the innovation envelope further. Read more.



MGA Symposium
Technology: The Heart of Your Enterprise

Tuesday, November 27 — Malaparte, Toronto

Hear Cameron Copeland, President of Cansure, and Brock Andrew, COO at Custom Software Solutions Inc., discuss the impact of their ten-year technology partnership in “Cansure: An MGA Technology Case Study.”

What do insurance brokers need from their MGA insurance providers to meet the challenge of today's customer experience mantra? Find out how Brokers Are Changing – and how you can keep up – from an expert panel featuring:
Moderator: Kim Opheim, K. Opheim Consulting
Brenda Rose, Vice President, FCA Insurance
Colin Marshall, Vice President, Will Marshall Insurance
CJ Nolan, Vice President, Munn Insurance

Review the current market trends in P2P insurance, looking at major players, key features, and case studies. What does the future hold? What are the implications for MGAs? And how can they prepare?

Register now, or for complete details, visit insurance-canada.ca/mga.


InsurTechTO - Monday, November 6, 2017
Held November 7 in Toronto

We know it can be challenging to skip a day in the office. Luckily for anyone who missed InsurTechTO on November 7, it's not too late for you to “attend” this important update on the biggest force acting upon – and reshaping – the Canadian property & casualty insurance industry. Get video access!


From Doug

On Technology Challenges

I love technology – how it can help people in their businesses and personal lives – and I enjoy helping people understand the value of its applications.

That said, I am not an early adopter (some might say more of a late follower). I do have a smart phone and a few apps; we use the (“basic”) cloud for rudimentary collaboration; we have a CRM.

So, what is the (my) challenge?

Whether personal, in my heritage volunteer capacity or as member of a business team, it is not so hard to find a good idea, and even implement it.

But having implemented it brings the challenge of moving forward.

• Stop doing what isn't the most valuable
• Become more efficient
• Delegate

That sounds like any business, small or large, preparing for tomorrow to gain or maintain a competitive edge.

Join Insurance-Canada.ca and your industry peers at our MGA Symposium next Tuesday, Nov. 27, to see how technology is changing the competitive landscape.

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.

Please contact kathryn.bertsch@insurance-canada.ca if you have any questions or would like to recommend an item for inclusion.

Click here to unsubscribe or to update your subscription preferences.

insurance-canada.ca

Connect with us: Insurance-Canada.ca Home Insurance-Canada.ca Blog - The Intersection Insurance-Canada.ca on LinkedIn Insurance-Canada.ca on Twitter