INSURANCE INDUSTRY NEWS
Insurers Under Pressure To Go Digital
Almost three-quarters of global insurers believe their sector has failed to show leadership in digital innovation, according to a new survey by Willis Towers Watson.
Insurance CEOs Embrace Disruption: PwC Survey
Insurance CEOs are among the readiest to embrace disruption, despite concerns over technological change, competition from new entrants, changing customer behaviour, and over-regulation.
Getting Risk Right: Underwriting and Location Intelligence
Modern location intelligence solutions are transforming the underwriting process. This whitepaper by Canadian Underwriter, sponsored by DMTI Spatial, is designed to explore the advantages and challenges of adopting a comprehensive approach to location intelligence in the modern underwriting environment.
Deloitte & Zurich Collaborate on Cyber Risk
Deloitte and Zurich North America (Zurich) are working together to provide services for their customers to help them better understand and protect themselves from cyber related risks. Initial offerings include risk mitigation options provided by Deloitte Risk and Financial Advisory Cyber Risk Services and risk transfer options provided by Zurich.
IBM Delivers Watson for Cyber Security
IBM Security has announced the availability of Watson for Cyber Security, the industry's first augmented intelligence technology designed to power cognitive security operations centers.
Chubb Expands Global Cyber Facility
Chubb's new suite of multiline cyber peril endorsements for the Global Cyber Facility helps risk managers address exposure gaps in their insurance portfolio and enables them to confidently respond to the concerns of their C-Suite and Board.
IT Spending Moderates as Transformation Shifts
Strategy Meets Action (SMA) has released a new research report which covers the state of the industry technology investments, the business drivers, and the ongoing plans for specific projects for P&C and L&A insurers.
“Disruption ⇒ New Realities,
What are your peers up to? What perspective would thought-leaders have on your business? How might InsurTech impact you, and will it be positive or negative?
Join your colleagues next week in Toronto to explore new ways to get ahead:
At the Technology Conference, Feb. 28:
• “InsurTech: Hype or Real?”
Jeff To, Salesforce
• “#InsurTech & Blockchain: Navigating The Hype”
Magda Ramada, Willis Towers Watson
• “Uncertainty & Location Intelligence”
Jean-Sébastien Guy, Korem
At the Broker Forum Mar. 1:
• “Know Yourself And Your Customer”
Sherif Gemayel, Sharp Insurance
• “Brokers + Insurers + Tech”
Colin Simpson, IBAO; Adam Hare, Insurance Jack; Sean Duggan, HUB International
Register today to prepare for tomorrow.
APRIL Canada Reveals MGA Trends
APRIL Canada, the largest independent MGA in Canada, revealed exciting insights it obtained about the MGA market through an online survey carried out last month.
Trimont Financial To Acquire ‘Western’
Trimont Financial Ltd., a subsidiary of The Wawanesa Mutual Insurance Company, has agreed to acquire Western Financial Group and Western Life Assurance from Desjardins Financial Corporation, a Desjardins Group subsidiary.
Northbridge Launches Water Damage Protection
Northbridge Insurance has launched a pilot project that offers customers savings on home insurance when they purchase an Alert Labs Home Solution package, consisting of a Flowie water sensor and a Floodie companion sensor. Water damage is the number-one reason homeowners make insurance claims, and many are preventable.
Beazley Launches Media Liability Coverages
Specialist insurer Beazley has unveiled plans to offer TV & film producers errors and omissions coverage, as well as media liability coverage for a broad range of media companies, expanding the product range available through the company's newly acquired Canadian operations.
The Co-operators Launches Insurance App
The Co-operators has launched a new mobile app to provide clients with a quick, easy and secure way to access and manage their insurance information. The free app is now available through iTunes and Google Play.
Consumer Willingness to Share Private Data
Insurers may be trying to implement the latest trends in smart technologies, but in order to do so successfully they should know the impact these tools will have. Emerging technologies such as robo advisors, chat bots, and artificial intelligence can change the traditional insurance model and have the potential to generate value in a variety of ways.
Brokers Association Appoints New CEO
The Insurance Brokers Association of Canada is pleased to announce the appointment of its new CEO, Mr. Peter Braid, a respected former Member of Parliament with an extensive track record of policy making, consensus-building and work in the insurance sector.