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Insurance-Canada.ca - Where insurance and technology meet

DECEMBER 11, 2018

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INSURANCE INDUSTRY NEWS

P&C Claims To Change Radically Over Next Decade
Property/casualty claims will transform more over the next decade than any other area of the insurance business. Many may see that as a provocative statement, but it is already a complex and sophisticated part of the business, with high levels of expertise, extensive partner networks, and major usage of technology. No one can predict exactly what claims will look like in ten years, but here is a view on what is likely to change significantly. Read more.

Billing Central To Insurers’ Service Strategies
Insurers are taking a renewed look at billing capabilities and their impact on the customer experience. A new report from research and advisory firm Novarica provides an overview of the available stand-alone billing systems for property/casualty insurers, including profiles of each of 15 vendor solutions. Read more.

PAS Vendors’ External 3rd-Party Data Integration
Property & casualty insurance carriers are being asked to provide customized, personalized experiences for policyholders. To achieve this, carriers increasingly rely on third-party data and on a policy administration system that can integrate it. Aite Group’s newest report evaluates the overall competitive position of each PAS vendor, focusing on vendor stability, client strength, product features, and client services. Read more.

Ontarians See Claims Fraud As Pervasive
Ontarians, who pay among the highest auto insurance rates in the country, are supportive of initiatives to fight insurance fraud and, according to the second annual Aviva Fraud Report, Read more.

Optimum General Selects Guidewire Platform
Optimum General Inc., Canadian property and casualty (P&C) insurers providing their products exclusively through the broker distribution network, and Guidewire Software Inc., provider of the industry platform P&C insurers rely upon, are pleased to announce that all Optimum General Inc. companies have selected Guidewire InsurancePlatform™ Core products to assist with the operations of their residential lines of business. Read more.

Applied Systems Launches Applied Rating Services 2019
Applied Systems® is pleased to announce Applied Rating Services 2019, the latest release of Canada's leading rating services. Applied Rating Services 2019 enables brokerages to increase compliance and operational efficiency through enhanced security capabilities and automated rating across more lines of business and coverages. Read more.

Andrew Agencies Acquires Wawota Agencies
Andrew Agencies and Darren and Kathy Olson, owners of Wawota Agencies, are pleased to announce that effective December 1st, Andrew Agencies Ltd. has purchased Wawota Agencies (2000) Ltd., located in Wawota, Saskatchewan. Read more.

Arthur J. Gallagher & Co. Acquires Accompass Inc.
Arthur J. Gallagher & Co. is pleased to announce the acquisition of Toronto-based Accompass Inc. Terms of the transaction were not disclosed. Read more.

BrokerLink Acquires Burrows Insurance Group
BrokerLink is expanding its footprint in Southern Ontario with the latest addition of Burrows Insurance Group, Inc., into its family. Read more.

Desjardins: Has Water Damaged Your Home?
Winter has arrived, and freezing temperatures can wreak havoc on your home, causing frozen pipes and ice damming. A new survey by Desjardins reveals one quarter of Canadians have experienced water damage to their home, but only half know what's covered by their insurance policy. Read more.

More Options For A Safe Ride Home: SGI
The Government of Saskatchewan has approved regulations that will open the door for rideshare companies to begin operating in the province, as long as they follow requirements set out by the municipality in which they operate. Regulations will take effect on December 14, 2018. Read more.

Consumers Buying From Companies That Take A Stand On Issues They Care About: Accenture
Nearly two-thirds of consumers globally prefer to buy goods and services from companies that stand for a shared purpose that reflects their personal values and beliefs – and they are ditching those that don't, according to Accenture's latest annual Strategy Global Consumer Pulse Research, The Rise of the Purpose-led Brand. Read more.

IBM Harnesses AI To Rethink Modern Workforce
As artificial intelligence promises to transform both the future of work and the human resources function, IBM has announced IBM Talent & Transformation, a new business to help companies and their employees flourish in the era of AI and automation. IBM Talent & Transformation provides robust AI skills training and helps companies drive the transformation necessary to use AI to empower employees, transform workflows, eliminate bias and build a modern workforce. Read more.

Vitality Incentives Boost Physical Activity
New global research released by Vitality reveals that financial incentives combined with wearables encourage people to significantly increase their physical activity. With the John Hancock Vitality program, customers have the option to earn rewards and potential premium savings through physical activity, better nutrition, mindfulness and preventative screenings. Read more.

Finance Depts. Expect To Deploy AI By 2020
A majority of finance departments expect to deploy one of several top emerging technologies by 2020, according to a worldwide survey of more than 400 organizations by Gartner. The technologies organizations expect to deploy over this time frame are AI or machine learning, mobile support for financial processes, robotic process automation (RPA), and integration of external data. Read more.


The Intersection: Insurance-Canada.ca Blog

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

Climate Change, Big Water, and Parametric Disaster Coverage
Over the last few decades, climate change has garnered interest and concern. With the exception of a few deniers, most folks recognize that more destructive events – water, fire, etc. – will cause damages and injuries, some of which will be life-threatening.
Marshall Islanders are experiencing changes that may not result in expected results. And they are not alone. But insurance is finding a new spot to help with emerging issues. Read more.


17th annual Insurance-Canada.ca Technology Conference – “A New Insurance Order” – Feb. 26-27, 2019
17th annual Technology Conference
“A New Insurance Order”
Feb. 26-27, 2019 — Beanfield Centre, Toronto

It is interesting for each of us to speculate on what is coming. Analysts do that for a job.

Join Mark Breading, Partner & Chief Research Officer at Strategy Meets Action, to look ahead at “The Shape Of Insurance In Ten Years.”

When distributing through broker intermediaries, both the broker and end-consumer need to be in mind. Learn from Tyler Lanoway, Director of Strategic Initiatives at Wawanesa, about “Enabling Better Broker Connectivity” – Wawanesa's strategy, their plan, and progress to meeting this target.

Register Now, or for complete details, visit insurance-canada.ca/ictc.

ICTC2019: “A New Insurance Order” — 17th annual Insurance-Canada.ca Technology Conference — Feb. 26-27, 2019 — Beanfield Centre, Exhibition Place, Toronto


From Doug

Last week we announced the 2019 Insurance-Canada.ca Technology Conference. A simple step, and the first in a long sequence.

Almost a year ago we decided on the duration of the event and booked the facilities; we are committed.

As the InsurTech philosophy and characteristics have become mainstream, and our event is about technology, we have a theme: “A New Insurance Order.”

Sponsors are important, bringing funding and creative thought leadership.

With sponsorship defined, the focus switches to program development.

This year we have seven focus areas: Marketing, CX & customer communications, emerging tech, product innovation, broker distribution, claims, and cyber.

And, of course, the vibrancy of InsurTechs.

Since our first thoughts about the annual conference a year ago, we have run five events – it has been hectic but rewarding.

Now it comes down to making ‘ICTC2019’ the event you want to attend! Registration is open. We hope to see you there on Feb. 26 & 27.

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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