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SEPTEMBER 13, 2016

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INSURANCE INDUSTRY NEWS

Knowledge Gaps Pose Cyber Security Risks
Wombat Security Technologies has announced the release of a new report indicating how well end users are able to identify and manage security threats within an enterprise. Read more.

Millennials Don't Think Insurance is Boring
Vertafore has released the results of its third annual survey of young insurance professionals evaluating the intersection of career satisfaction and technology in the workplace. Read more.

eSignLive & APEXA Digital Onboarding Solution
eSignLive has announced an exclusive partnership with APEXA, the cloud-based platform for life advisor onboarding, contracting and compliance. Read more.

Symcor and Majesco to Deliver Cloud Solution
Symcor Inc. has announced a strategic relationship with Majesco, a global provider of core insurance software, consulting and services for insurance business transformation. Read more.

Platform Harnesses Telematics to Improve Claims
CCC Information Services Inc. has launched a new suite of telematics-enabled claims offerings that will improve and speed accident notification along with the steps and decisions undertaken by insurers after their policyholder has been in an accident. Read more.

IMS Joins Guidewire PartnerConnect
IMS has joined Guidewire PartnerConnect as a Solution Alliance Partner and participant in the Ready for Guidewire accelerator validation program. Read more.

RSA Introduces Powerful, Time-Saving EZ-Docs
RSA introduces EZ-Docs, a system that allows you to replace traditional paper documents with electronic versions that are stored and presented within a wide range of workflows. Read more.

Does InsurTech Matter? The Implications
Strategy Meets Action believes that InsurTech definitely does matter. But the implications are vastly different by industry segment and for different parts of the insurance business. Read more.

Munich Re to Underwrite Trov On-Demand
Trov, the company reinventing insurance for the mobile generation, has announced a partnership with Munich Re to bring its on-demand insurance to the United States in 2017. Read more.

Hub Acquires New Dimensions Underwriters
Hub International Ltd. has announced that it has acquired Canadian-based New Dimensions Underwriters Ltd. Terms of the acquisition were not disclosed. Read more.

Hub Acquires Shares of Sarjeant Brokers
Hub International Ltd. has announced that it has acquired the shares of Sarjeant Insurance Brokers Limited. Terms of the acquisition were not disclosed. Read more.

Driverless Cars May Reduce Premiums By 40%
Aon Benfield has launched its annual Global Insurance Market Opportunities report, revealing that if autonomous vehicle technology is adopted at even a moderate pace, US motor pure premiums could decrease precipitously. Read more.

Race for Global Reinsurers to Remain Relevant
Weak operating fundamentals in reinsurance and continued weakened demand from primary insurers have led companies to intensify their efforts to develop new strategies in order to adapt to structural market changes, as detailed in A.M. Best's annual special report on the global reinsurance industry. Read more.

Growing Demand For Customised Re/Insurance
Swiss Re's latest sigma study focuses on the utility and rising use of non-traditional re/insurance solutions. Strategic reinsurance programs can help insurers optimise their capital structure in order to improve capital returns and minimise capital costs. Read more.

Reinsurance Demand Increasing: Outlook Report
Aon Benfield has released its September 2016 Reinsurance Market Outlook report, which provides a comprehensive analysis of the key variables affecting reinsurance buyers in the approach to January 1st renewals. Read more.

Fluttrbox Announces Successful Drone Pilot Program
Fluttrbox has launched a successful drone pilot program with Iowa-based Continental Western Group, a commercial lines P&C insurance provider serving 13 states in the middle United States. Read more.

Willis Re Upgrades Cyber Portfolio Management
Willis Re, the reinsurance division of Willis Towers Watson, has launched the next generation of the insurance industry's original cyber risk portfolio modelling tool PRISM-Re™. Read more.

XL Catlin Boosts Global Property Insurance
To accommodate increasing property values around the world and more complex risks, XL Catlin extended its global property insurance capacity to USD 400 million, an increase of more than 25 percent. Read more.

Life Coverage Can Address Financial Concerns
September is Life Insurance Awareness Month, and Lincoln Financial Group research shows that consumers recognize the important role that life insurance plays in helping to cover final expenses as well as aiding with estate planning and wealth transfer. Read more.

Limiting Earthquakes' Financial Disruption
Canada faces a serious risk to its financial stability should a severe earthquake occur in an urban area, according to a new study released by the C.D. Howe Institute. Read more.


Insurance-Canada.ca 2016 Executive Forum photos are now online
Photos from the 2016 Executive Forum


The Intersection: Insurance-Canada.ca Blog

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

Waiting for Disruption
An analyst and thought leader recently went public with a post suggesting that disruption is over-hyped and underwhelming from a practical stand point. I respect the author and the analysis, but I think we are in uncharted territory.
Read more.

If Digital Is Urgent, How Do We Play It?
InsurTech (Insurance Technology) is a hot topic in the insurance community these days. But how significant is this trend and how urgently do we have to respond?
Read more.


Insurance-Canada.ca Tech Awards


2016 SMA Summit

Register today for the 2016 SMA Summit, September 19, 2016, in Boston. This is a must-attend event for insurance leaders who are thinking, planning, and executing with the purpose of becoming a Next-Gen Insurer. The Summit is a great opportunity to gather, network, and gain insights into new forces transforming the industry and learn what they mean for your company. You will learn from experts and begin to frame these challenges as new opportunities.



From Doug

The first breath of autumn is in the air, with the equinox officially inaugurating the fall season next Thursday.

I am enjoying a two-week railway journey aboard the Trans-Siberian Express from Moscow to Beijing via Mongolia. In a sign that the far-reaching Connected Era is not yet universal, internet access is severely limited – though the scenery should make up for it.

With students back at school and the daylight beginning to wane, let's enjoy what warmth remains.

Doug Grant, CIP
Partner
Insurance-Canada.ca

Doug Grant

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