Insurance-Canada.ca - Where insurance and technology meet

AUGUST 15, 2017

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INSURANCE INDUSTRY NEWS

Insurance Transformation: Predictions For 2027
Strategy Meets Action is celebrating its 10th anniversary with the release of a new, complimentary research e-book based on SMA research, observations, and experience, which provides a view of transformation and presents a set of recommendations for insurers on navigating the next decade. Read more.

Artificial Intelligence Technologies Proliferating
Market hype and growing interest in artificial intelligence are pushing software vendors to introduce AI into their product strategy. Gartner analysts predict that by 2020, AI technologies will be pervasive in almost every new software product and service. Read more.

Global Growth Outlook Remains Positive
Global insurance premiums increased by 3.1% in real terms in 2016, a fairly solid outcome in an environment of moderate global economic growth, according to Swiss Re Institute's latest sigma report. Read more.

Emerging Trends In Annuities: Novarica
In a new executive brief, research and advisory firm Novarica outlines the current state of the annuities market and key trends in the responses of annuities carriers to market challenges. Read more.

APEXA Transforms Life Advisor Contracting
APEXA, the web-based national platform for life advisor onboarding, contracting and compliance, is now live. APEXA brings higher standardization, clarity, timeliness and efficiency to contracting and compliance for life insurance industry stakeholders. Read more.

Small Commercial Satisfaction Gap Grows
The gaps in satisfaction among small businesses have never been wider, according to the findings of the J.D. Power 2017 U.S. Small Commercial Insurance Study. Read more.

Marketing, Sales Leaders Expect Disruption From Cognitive Computing
Nearly two-thirds of marketing and sales leaders believe their industries will be ready to adopt cognitive technologies in the next three years, but only one-quarter have strategy in place to implement these technologies today, according to a new IBM study. Read more.

AIU In Production With Canary AMS
Amalgamated Insurance Underwriters is successfully in production with TechCanary's Insurance Platform, Canary AMS, after a short three-week implementation. Read more.

CSIO Announces Development Of eSlips Solution
The Centre for Study of Insurance Operations is pleased to announce the development of an industry-wide solution to deliver digital proof of auto insurance (eSlips) to consumers, in collaboration with its carrier and broker members. Read more.

Regulators Push For Disaster Preparedness
The Canadian Council of Insurance Regulators has published the results of its analysis of natural catastrophes and personal property insurance in Canada. Read more.

Drone Imagery Assists With B.C. Wildfires
Catastrophe Response Unit (CRU) decided the BC wildfires represented the perfect time to utilize their new drone group and test the processes of providing critical information in a post-disaster event. Read more.

The State Of The Climate: 2016
A new report by the American Meteorological Society has confirmed that 2016 surpassed 2015 as the warmest year in 137 years of recordkeeping. Read more.

Allstate Launches UBI In Nova Scotia
Allstate Insurance Company of Canada is pleased to announce the expansion of its Usage-Based Insurance program, Drivewise®, in Nova Scotia. Read more.

MPP & IBC Putting CO Detectors In Homes
Vic Fedeli, MPP for Nipissing, has partnered with Insurance Bureau of Canada to donate carbon monoxide detectors for the homes of local residents and to raise awareness of the dangers of carbon monoxide poisoning. Read more.

Canadians' Driving Is Worse Than They Think
While the vast majority of Canadians think they are good drivers, a new belairdirect survey shows that 93% have admitted to engaging in at least one bad habit behind the wheel. Read more.

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

Is UBI Facing A Future That Isn't UBI?
For the last decade, insurers have sought to change automotive underwriting by relying on real data from vehicles, rather than using proxies such as drivers' estimates of mileage driven, traffic tickets, and accidents. However, as the industry in poised for rapid expansion, a leading expert is suggesting that it is already a failure. But there may be a better approach. Read more.

"Winning With Convergence"
SMA Summit • September 18 • Boston

Now is the time to register for the 2017 SMA Summit – 18 September in Boston. Seating is limited. Understand the magnitude of convergence and its impact on the insurance industry. Whether your focus is on business or technology ... or both ... this is a critical one-day investment in your future. Move beyond the "what" of digital, innovation, and InsurTech to learn "how" and "when" and "why" it will impact your company, and what you can do about it. See the agenda & speakers, and register today!

“Insurance: Connected”
Insurance-Canada.ca Executive Forum
August 29, 2017

Emerging technologies are catching the attention of InsurTechs and mature insurance players alike.

Data, analytics and cloud continue their strong growth as key elements of the digital insurance transformation. Cognitive Computing, which depends on AI and Machine learning, continues to grow in importance.

In “Cognitive Computing: Future-Proof Your Competitive Advantage,” Debbie Landers, VP of cognitive solutions at IBM Canada, will explore how some are taking advantage, offer lessons learned in early days and provide a glimpse into the future.

Register now.

From Doug

A global report from the American Meteorological Society shows three consecutive years of the hottest temperatures on record, rising sea levels, higher greenhouse gas concentrations, and increasing risk of drought ...

While downtown Toronto has enjoyed pleasant temperatures and greenery this season, the harmful effects of climate change are evident across the country: wildfires in B.C., prairie storms, flooding, tornadoes, and more.

Some insurance industry leaders, including ICLR, had the foresight years ago to take action with numerous initiatives. Thanks for your efforts around mitigation and resiliency.

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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