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INSURANCE INDUSTRY NEWS
Which Insurance Industry Players Are Best Positioned For The Future?
In a new research report, Majesco provides unique insights on the alignments and gaps between buyer expectations and seller strategies, priorities and investments, revealing which types of sellers are well positioned to create the future of insurance, and who will be left behind.
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Pace Of Change Tops Emerging Risks In Q2
Organizations are concerned about their ability to keep up with a rapidly changing business landscape, driven in part by concerns about their own organizations’ lagging and misconceived digitalization strategies, according to Gartner, Inc.’s latest Emerging Risks Monitor Report.
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InsurTech Investment Buoyant In Q2
InsurTech investment worldwide continued at high levels during the second quarter of 2019, marking the fourth consecutive quarter during which total new funding commitments exceeded $1.2 billion, according to the new Quarterly InsurTech Briefing from Willis Towers Watson, a leading global advisory, broking and solutions company.
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Data Breach Costs Rising; Impact Lasts Years
The average cost of a data breach has risen 12% over the past five years to nearly USD 4 million, according to IBM Security's annual study examining the financial impact of data breaches on organizations. These growing expenses are representative of the multi-year financial impact of breaches, increased regulation, and the complex process of resolving attacks.
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Brokerslink Welcomes New Affiliate Navacord
Navacord, one of Canada's largest commercial brokers, has joined global broking business Brokerslink as its latest affiliate in the North American region.
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Insurers Have Expanded Technology Capabilities
Insurers have broadened and matured their technology capabilities, including analytics and mobile, in the last year. While larger insurers retain a significant advantage, smaller insurers report high levels of planned pilot activities aimed at closing the gap, according to the 4th annual Novarica New Normal 100.
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Data Initiatives Expand In Commercial Lines
Commercial lines carriers continue to expand their business intelligence efforts. In a new report, Novarica provides an overview of their business and technology issues, data about the marketplace, and several examples of recent technology investments by commercial lines carriers.
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Economic Developments Impacting Business
RSM Canada, the leading global provider of audit, tax and consulting services focused on middle market businesses, has launched its second edition of 'The Real Economy, Canada' – a quarterly report that provides Canadian businesses with economic analysis and insights into factors driving growth in Canada's middle market.
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Untapped Potential Of Cross-Selling
Simon-Kucher & Partners, a global strategy and marketing consulting firm, has released the results of a survey on customer loyalty and cross-selling in insurance which examines the U.S. insurance customer's appetite to hold multiple policies from a single insurer and explores the potential to increase sales, profitability and retention from cross-selling insurance.
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Are You a Member of a Group? Capture Your Insurance Advantage
We are all individuals, with our own unique characteristics. And with very few exceptions, each of us is also a member of several groups. Members of a group share at least one common characteristic. Members can also share in any benefits that accrue
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Newfoundland & Labrador Approves eSlips
The Superintendent of Insurance of Newfoundland and Labrador has approved the use of Electronic Proof of Automobile Insurance (EPAI), or eSlips, for drivers in the province. With this approval, Newfoundland and Labrador drivers can now present their eSlips to law enforcement officers during a traffic stop.
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Rescuing Alberta's Auto Insurance System
The Insurance Brokers Association of Alberta (IBAA) has tabled a white paper with the Alberta government to deal with the current auto crisis in Alberta.
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Demystifying Travel Insurance For Canadians
Orion Travel Insurance, a CAA company, has launched a campaign to make it easier for Canadian travellers to navigate and understand the essentials of travel insurance in advance of the busy summer travel season.
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ICLR Suggests New Standard For Wind Damage
A report from the Institute for Catastrophic Loss Reduction (ICLR) and the Standards Council of Canada (SCC) recommends the development of a new national standard of Canada on wind resilience to mitigate residential and small building property damage resulting from natural disasters in Canada.
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Canada Life Begins Move To One Product Shelf
On its journey to move to one brand in Canada, Canada Life announced it has begun the transition to one shelf of innovative products under the Canada Life name through new offerings and enhancements to existing wealth and insurance products.
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Victor Lange Joins Apollo Insurance
Apollo Insurance Solutions Ltd. is pleased to announce that Victor Lange has joined Apollo as Chief Operating Officer, effective July 24th.
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Martin Delaney Appointed CEO Of Navasure
Navacord Corp. is pleased to announce industry veteran Martin Delaney as the CEO of Navasure Structured Surety Solutions, Canada’s preeminent and only dedicated provider of structured surety solutions for the energy and power industries.
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Sedgwick Drives Growth With New Team
Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, has announced the expansion of its Canadian operations with the formation of a new business development team
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Best & Worst Ontario Cities For Drivers
Ontario's overall worst cities for drivers with a ticket, collision, or a combination of the two are Orangeville, Bradford, and Woodstock, while the province's best are North York, Toronto, and East York, according to a new study from InsuranceHotline.com.
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Peel Police Seize High-End Vehicles
Peel Regional Police Commercial Auto Crime Bureau joined forces with investigators from Halton Regional Police,York Regional Police and Canada Border Services Agency in a four-month investigation resulting in multiple arrests and high-end vehicle seizures.
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Are Canadians Living Beyond Their Means?
In an age of consumption fueled by “fear of missing out,” it can be easy to dig a hole of debt. And one-third of Canadians aged 20 to 69 are spending their money faster than they make it, according to a survey by Manulife Bank of Canada.
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Gore Recognized As A Top Place To Work
Gore Mutual Insurance Company is proud to announce that it has once again received a ‘Great Place to Work’ certification after a thorough and independent analysis conducted by the global authority on building, sustaining and recognizing high-performing workplace cultures.
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