Insurance-Canada.ca - Where insurance and technology meet

AUGUST 1, 2017

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INSURANCE INDUSTRY NEWS

Progress In Digital & Data; Core Developments Lag
Insurers still have widely divergent technology-enabled capabilities, but they are making progress in digital and data analytics areas, according to the second annual "Novarica New Normal 100" capabilities benchmarking study.
Read more.

Big Data, A.I., Geospatial Revolutionize Analytics
Strategy Meets Action has just released a new research report, A New Era of Analytics in Insurance, which highlights how data and analytics have evolved by introducing an updated version of SMA's Data and Analytics Spectrum.
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Fighting Emerging Fraud With Data & A.I.
A new Aite Group report explores the types of fraud that carriers are encountering and the technology that is available to help them combat it.
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Metromile Debuts Automated Claims System
Metromile, the leader in pay-per-mile car insurance in the U.S., is revolutionizing the claims experience with the launch of its automated system powered by their new AI smart claims assistant, AVA.
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Mitchell Announces Cloud Estimating Solution
Mitchell International has announced a completely cloud-based estimating solution designed to simplify the estimating process to quickly create accurate appraisals.
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KTX Insurance Brokers Unveils Updated Portal
KTX Insurance Brokers has launched of their updated digital client portal, a responsive web tool that gives clients access to their insurance information and the ability to chat with their broker, request policy changes and report claims in real-time, from any device.
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TechCanary Launches Platform On AppExchange
TechCanary has announced the availability of its Broker Management System for the Canadian insurance market on the Salesforce AppExchange, empowering businesses to connect with their customers, partners and employees in entirely new ways.
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Brokers Respond To Changing Consumer Needs
The Insurance Brokers Association of Ontario shared an important message about the changing marketplace in their recent webcast Electronic Communication with Customers: Horizons for Brokers.
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Canadian Millennials Most Likely to Travel Uninsured
According to Allianz Global Assistance, more than forty per cent (43.4%) of Canadian travellers who report not acquiring travel insurance every time they leave the country were younger Canadians, aged 18-34.
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InsureLine Brokers Opens Location Inside Walmart
Canada's fastest-growing insurance broker network, InsureLine Brokers, has opened its first location inside Walmart at Scottsdale Mall in Delta, BC.
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Aviva, Local Insurance Partner For Charity
Aviva Canada and Local Insurance have collaborated to launch the Insure For Your Cause program, enabling customers to donate to their favourite charities when they purchase home or auto insurance from a participating Aviva broker.
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Affordable and Effective Auto Insurance in B.C.
ICBC has released a comprehensive, third-party, independent review of the fairness and affordability of basic insurance rates in British Columbia.
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Lyft Launches Self-Driving Vehicle Division
Lyft is excited to announce the company is opening its own self-driving division, which is developing an open self-driving system (open SDS).
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What's going through the Intersection
of insurance and technology?

Disruption: 50 Years On
Disruption is very much in vogue as a target for new technology. But it is not a recent development. I have been thinking about the 50th anniversary of 1967 – a year of fundamental disruption – and two events stand out in my mind, the second relating directly to insurance and the importance of InsurTech. Read more.

Register today for the 2017 SMA Summit – an essential conference for insurers wanting to understand the magnitude of convergence and its impact on the insurance industry. The SMA Summit – sold out the past two years – has become one of the most influential conferences in the industry and a must-attend event. Explore the possibilities and network with the market leaders who have embraced change and are setting the new course for insurance. This year's focus is on Winning With Convergence – bridging today with the future. See the agenda and register today!

“Insurance: Connected”

Tuesday, August 29, in Toronto

According to Matteo Carbone, founder & director of the Connected Insurance Observatory, insurance companies have to become “InsurTechs” to reach their strategic objectives.

What might be the impact of the unique characteristics of insurance in Canada?

Learn more from a “fireside chat” with Matteo, joined by David Crozier, President & CEO of Everest Canada; Lorie Phair, Managing Director of the Canadian Broker Network; and Andrew Lo, President and CEO of Kanetix.

Register now.

From Doug

My nephew bought a rural property northwest of Toronto with environmentally friendly geothermal heating for the house.

Surprise: In winter, the monthly electricity bill to drive it was several thousand dollars, with indoor temperatures only in the low teens (Celsius).

The solution: an outdoor, wood-burning furnace with a propane back-up. The fire needs a fair bit of wood – but the wood is free, delivered by local arborists so as to avoid dumping fees.

Insurance implications for a wood-furnace ... Just another illustration of how each risk can be unique.

Doug Grant, CIP
Partner
Insurance-Canada.ca

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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