INSURANCE INDUSTRY NEWS

Non-Life Market Poised for Profit Recovery
The Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings' new report on the Canadian non-life insurance market. Read more.

Zurich Names New N.A. Commercial Insurance Unit
Zurich North America has announced the name of its new North America Commercial Insurance unit and leadership team. Read more.

Smart Home Devices Increasing Hacking Risks
Most U.S. consumers have a home data network or Internet-connected smart devices, increasing the risk of home cyber attacks, according to a new survey by Zogby Analytics for The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re.
Read more.

For Large Projects, Think Architecture First
The problem with large initiatives is that delivering them efficiently requires large teams, which present large challenges, from communication to wastage. Architecture as decomposition involves breaking down big systems into smaller pieces that lend themselves well to independent work by teams. Read more.

Loyalty Marketing: The Nudge Game
The insurance industry is increasingly leveraging loyalty marketing techniques, such as rewards programs, to nudge customers toward preferred behaviors. Can the rise of telematics, wearables, and the Internet of Things offer insurers a radical opportunity to embrace loyalty marketing? Read more.

LexisNexis Driver Signature Advanced Analytics
LexisNexis Risk Solutions has evolved its machine learning in Driver Signature analytics, increasing accuracy when identifying the driver for a given trip based on driving style. Read more.

CSIO Welcomes Mutual Fire Insurance Company of British Columbia
The Centre for Study of Insurance Operations is pleased to announce the addition of the Mutual Fire Insurance Company of British Columbia, founded in 1902, to its membership. Read more.

Canadians Lack Awareness Of Seg Funds' Benefits
Most Canadians aged 55 and over agree that they would like an investment product with guarantees on their principal that also offers growth opportunities, but most are unaware this option exists with Seg Funds.
Read more.

KTX Insurance Brokers Launches Mobile App
KTX Insurance Brokers offers policyholders the ability to easily chat with licensed brokers online and even self-serve their insurance policies with the launch of its new mobile app, powered by ClientDesk.
Read more.

All Ontario Drivers Paying For Unnecessary Legal Costs Through Higher Rates
Aviva Canada endorses a new provincial study which concludes that lawyers (not their insurance clients) are the primary beneficiaries cashing in on contingency fee arrangements. Read more.

Auto Theft Investigation Successful: IBC
Insurance Bureau of Canada congratulates our law enforcement partners on a successful investigation into auto thefts in Ontario, with nine vehicles recovered and two arrests. Read more.

2017 ICTA NOMINATIONS

Imagine Financial's Travel Navigator™ Provides Assistance to Travellers
A web dashboard and mobile application for Imagine Financial's insurance policyholders, Travel Navigator™ is the only app in the industry to offer a full range of information, real-time alerts, and assistance services with a focus on the traveller's health, security, and well-being. Read more.

Sharp Insurance Pushes the Bounds as a Digital Broker
As the first to develop a mobile app and portal for clients to access pink cards and insurance information, Sharp Insurance continues to push the boundaries on what is possible for streamlining service and new, innovative product offerings for clients. Read more.

Brokers Trust Digitally Transforms Payments to Insurance Companies
Brokers Trust is constantly addressing improvements, and bringing a systems approach and technology to bear on the processing of payments to insurance companies and MGAs has been another step in our digital transformation journey. Brokers Trust looked to the ClearPay system and to the integration supplied by Applied Systems for its Epic business management solution. Read more.

Sonnet Puts The Focus On The Customer
Sonnet puts the customer in control and has been recognized as a game-changer for its innovative combination of advanced data and analytics. Sonnet is currently the only solution in Canada that allows customers to bind insurance and self-serve directly online. Read more.

WELCOMING OUR SPONSORS

• A supporter of the Technology Conference and Broker Forum, Intact will have representatives in attendance to add to the discussion of leading trends and directions.

• At the 2017 Broker Forum, bronze sponsor SURE General Contracting will exhibit their restoration services to help brokers and insurers serve their customers.

• As a bronze sponsor for the 2017 Technology Conference, OneShield will be on hand to exhibit its portfolio of core and ancillary insurer systems, and their installation options.

• IBAO is a broker sponsor for the 2017 Broker Forum, and its delegates will ensure the needs of brokers are taken into account in the conversation about industry challenges.

From Doug The 2017 ICTA nominees – now all showcased here – are reaping the benefits of the disruptions (varied innovations and improvements) they instigated. The very word “disruption” connotes radical and immediate change. InsurTech is arriving; its moment may be now, but it will be a little longer until the effects are felt broadly and fully. InsurTech will surely have a major impact – but hopefully without the turmoil of, say, a sudden and sweeping change in immigration policy. Doug Grant, CIP Partner Insurance-Canada.ca