Insurance-Canada.ca Newsletter Archive
This newsletter serves the Canadian insurance industry. The Chronicle is published weekly and notes news, events, and general information relating to insurance, technology, and innovation in the industry and the marketplace. Subscribe or view past issues.
The Chronicle: Issue 2016-24, June 14, 2016
What's Going Through The Intersection of Insurance and Technology?
The Future of Work, Platforms, and Insurance
Business of Insurance
Aon: May's global disasters lead to billions in claims
Impact Forecasting, Aon Benfield's catastrophe model development team, today launches the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during May 2016. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc.
Xuber Annual Global Reinsurance Survey: Soft Market Remains A Big Challenge
Xuber, the insurance software business of Xchanging, a CSC Company, has revealed the results of its second annual Xuber Global Reinsurance Survey, which found that soft market conditions continue to be the biggest concern for the industry.
J.D. Power's 2016 Canadian Home Insurance Study
Customer satisfaction with homeowners insurance in Eastern Canada is improving, while catastrophic events contribute to lower satisfaction in the Western provinces, according to the J.D. Power 2016 Canadian Home Insurance Study.
RIMS executive report: Building a Bridge Between Strategy and Risk Management
The risk management process demonstrates an inherent bias towards risks with increased negative impact and decreased positive reward. Part of that bias results from the nature of traditional risk management, which relies on the purchase of insurance to cover financial losses. The other part stems from business history and those stories that shape our profession. This report will help you build a bridge of understanding between the risk taker and risk manager to support organizations in realizing their visions, accomplishing their missions, and meeting their goals and objectives.
Foresters announces rebrand to Foresters Financial
Toronto-based international financial services provider Foresters has rebranded to Foresters Financial in a move that aligns the Foresters family of companies across Canada, the U.S. and the UK under one collective brand.
Mimecast: cyber insurance may not cover evolving social attacks
Mimecast Limited is warning that organizations' cyber insurance policies may not be fully up-to-date in covering new social engineering email attacks, leaving firms at risk for taking the full financial brunt of these attacks.
PwC global report on embracing disruption: Financial Services Technology 2020 And Beyond
It is becoming obvious that the accelerating pace of technological change is the most creative force – and also, the most destructive one – in the financial services ecosystem today. PwC's new global report, Financial Services Technology 2020 And Beyond: Embracing Disruption, examines the forces that are disrupting the role, structure, and competitive environment for financial institutions and the markets and societies in which they operate.
IMS granted European patent for mobile-based telematics
Intelligent Mechatronic Systems, a leading connected car solution provider, has announced the granting of a patent, by the European Patent Office (EPO), that covers the fundamental requirements to enable connected car services using smartphones and other mobile devices.
Guidewire announces new release of Insurance Platform
Guidewire Software, Inc., a provider of software products to Property/Casualty insurers, has announced the new release of the Guidewire Insurance Platform™. The Guidewire Insurance Platform combines three elements – core operations, data and analytics, and digital engagement – that work together to enhance insurers' ability to respond to industry changes and better engage and empower their customers, agents, and employees.
EIS Group announces EIS Core Insurance Suite 7 for P&C insurers
EIS Group, a leading provider of insurance core systems, today announced at the IASA Educational Conference and Business Show the availability of EIS Core Insurance Suite™ 7, the latest version of its software suite for property and casualty insurers. The result of EIS Group's customer-centered design approach, version 7 makes it easier for insurers to know their customers and more quickly deliver products and services that are relevant to their customers' specific needs.
“Turning Canadian Insurance Outside-In”: 2016 Executive Forum
Tuesday, August 30, 2016, at the Sheraton Centre Toronto Hotel
You've going digital. From the many ideas of what next, you have some plans in place. You are getting started on the next steps, but do you have all the ducks lined up the right place. Here's where you could do a check.
At the 2016 Insurance-Canada.ca Executive Forum, Aviva Canada CIO Ben Isotta-Riches will share his experiences in driving change in business results through cultural shifts, leveraging techniques like hackathons, workspace transformation and engaging directly with the startup community.
Register now to discover how insurance looks “outside-in.” Take the time to learn from our sponsors, including:
ICEF2016 Sponsors include:
Energi launches P&C programs in parts of Western and Atlantic Canada
Energi of Canada has announced the launch of its property & casualty programs for Energy business in parts of Western and Atlantic Canada. The new Energy programs provide unique risk management solutions and insurance offerings for energy-related risks in segments including Fuel Distribution, Fuel Transportation, Energy Contractors, Renewable Energy, and Alternative Energy Solutions.
Applied Systems: Vancouver Island InsuranceCentres consolidates operations onto Applied Epic
Applied Systems has announced that Vancouver Island InsuranceCentres has selected Applied Epic, the fastest-growing cloud-based brokerage management system in the industry, to consolidate its business operations of 16 offices and 200 users. Applied Epic's modern architecture will enable the organization to standardize and automate workflows across all offices to provide operational visibility and ensure consistent reporting.
Moore Mclean Gateway unveils new company website
Eight months ago, Moore McLean Gateway (MMG) – a joint venture between Gateway Insurance Group of Halifax and Moore McLean Insurance Group of Toronto – was successfully launched to better serve the large account market segment in Atlantic Canada. Following numerous strategic wins, MMG is pleased to introduce our new website – we invite you to take a look.
Cookson James Loyalty white paper on influence of incentive-based programs
Many Canadians probably know that they should improve their health, but find it difficult to shed old habits in circumstances that “conspire” against them. Achieving even a “modest” 1% lower prevalence of smoking, excess weight and physical inactivity would save billions toward the cost of preventable chronic disease in just 15 years.
FINEOS launches FINEOS Claims FastTrack
FINEOS Corporation has announced a rapid, out-of-the-box implementation of the market-leading FINEOS Claims. Delivered as a cloud service, FINEOS Claims FastTrack is fully configured and ready for production within 60 days.
IBC helps Canadians prepare for the risk of severe weather
June signals both higher temperatures and increased risk of severe weather. Certain areas of the country, including southern Ontario, are prone to dangerous storms. IBC is reaching out to Canadians with tips for protecting properties from damage.
CAA offers travel insurance deductible
CAA South Central Ontario (CAA SCO) offers travellers comprehensive travel insurance plans, as well as options to reduce the cost of the policy with the introduction of a new travel insurance deductible.
SGI and Saskatchewan police focus on new drivers in June
In Saskatchewan, new drivers are the province-wide focus of June's traffic safety spotlight. Police will be watching for new drivers not following restrictions outlined in the Graduated Driver's Licensing (GDL) and Motorcycle Graduated Driver's Licensing (MGDL) programs.
Ontario's Climate Change Action Plan implements universal home energy audits
The Ontario government has released its long-anticipated Five-Year Climate Change Action Plan to promote the reduction of greenhouse gas emissions and facilitate the shift to a low-carbon economy.
In The Community
The Co-operators ranked #3 among best corporate citizens in Canada
In a new report, The Co-operators is ranked #3 among the Best 50 Corporate Citizens in Canada by Corporate Knights. This marks the seventh consecutive year the organization has made the list in the top ten. It is joined this year by three other Canadian co-operatives.
On Friday, as I drove east past Peterborough to attend the funeral of a public school classmate and cousin-in-law, I was struck by the rich green of the farm fields and woodland alongside the highway. That sight inspired a serene feeling which brought to mind the value of insurance in the aftermath of an accident or loss, not only to the bereaved (in the case of life and health insurance) but also to those who travel the same route or live and work along the way (where home, auto, commercial and liability insurance may come into play). This weekend's tragic news of mass murder in Orlando rather shook my sense of serenity.