INSURANCE INDUSTRY NEWS

Big Data Opens Up New Horizons: KPMG Report
With digital-savvy millennials now the world's largest population segment and Gen Z following in their footsteps, Canadian insurance companies must rethink their business and harness big data to drive growth and profitability, a new KPMG report indicates. Read more.

A.I. Expands In Risk & Compliance — But Ethics?
Nearly half of executives at organizations that use artificial intelligence expect to increase AI use for risk management and compliance efforts in the year ahead, but just one-fifth of respondents report that their organizations have an ethical framework in place for AI use within risk management and compliance programs, according to a new Deloitte poll. Read more.

The Hartford Expands IoT Capabilities
The Hartford is expanding its Internet of Things (IoT) Innovation Lab and capabilities, bringing together the latest network-connected technology with the company's expertise, data and risk management to improve workplace safety and help prevent or reduce property damage for its customers. Read more.

Accenture Launches myNav Cloud Platform
Accenture is pleased to announce the launch of myNav, a cloud platform that helps organizations design and simulate different cloud solutions to identify the ones that best fit their specific business requirements. Read more.

Cyber Insights For Insurers: Aon Q3 Report
The latest issue of Aon's Cyber Insights For Insurers newsletter equips readers with the details of relevant trends in cyber underwriting and portfolio management, based on the latest developments in the threat and claims/regulatory landscape. Read more.

Aviva Launches Renewable Energy Insurance
Aviva is pleased to announce it has launched an integrated package of specialized insurance designed specifically to support large companies in the complex market of renewable energy – including onshore wind farms, solar power and battery storage. Read more.

Allianz Partners Launches Online Travel Claims
Allianz Partners is pleased to announce its launch of full-service online travel insurance claims, overhauling the end-to-end travel experience with a series of new features and redefining industry standards in the digital age. Read more.

Globe & Mail Insurance Trends Report
Welcome to the era of ultra-personalized insurance. New products and services are available to Canadians through a growing number of channels and consumers are increasingly purchasing insurance tailor-made to suit their needs. Insurers are launching innovative forms of insurance that break the historic mould, including on-demand, micro, parametric, and behaviour-based coverage. Read more.

Remarks By Don Forgeron At CIS
On Nov. 28, the Insurance Bureau of Canada held its first Commercial Insurance Symposium, where industry leaders shared insights and perspectives on the commercial insurance market. The symposium examined the commercial insurance environment and discussed the direction the industry is headed. Read more.

Verisk Launches New Home Inspection Solution
Verisk, a leading data analytics provider, is pleased to announce the launch of OneXperience™, a new InsurTech solution that enables digital engagement between policyholders and their insurers during a critical underwriting step—the home inspection. Read more.

People Corporation To Acquire Apri Group
People Corporation is pleased to announce that it has closed the acquisition of the Apri Group of Companies, one of the largest independent group benefits consulting firms and group benefits MGAs in Canada. Read more.

First Choice Disaster Restoration Joins DKI
DKI Canada is pleased to announce that First Choice Disaster Restoration, based in Chatham, Ontario, has joined DKI Canada. Read more.

ICE InsureTech Joins Radar Live Collaboration
Willis Towers Watson's global Radar Live Collaboration programme is set to develop the company's ecosystem of policy and claims administration vendors, delivering a faster integration of Radar Live, the price delivery platform. ICE InsureTech is the latest vendor to join the programme, providing ICE with the ability to deploy Radar Live's specialist point-of-quote insurance rating and rules solution. Read more.

Intact Completes Acquisition Of Specialty Insurer
Intact Financial Corporation is pleased to announce that it has completed the acquisition of The Guarantee Company of North America and Frank Cowan Company Limited, having received all required regulatory approvals. Read more.

More Canadian Households Have Life Insurance
A new LIMRA study has revealed that 12.6 million Canadian households own life insurance coverage, which marks the highest level of ownership to date in Canada. Read more.

Drivers See Vehicle Safety Technology As A Risk
Features such as automatic braking are designed to make driving safer, but nearly half of Canadian drivers also think they pose a risk to road safety, according to a new survey by Desjardins Insurance. Read more.

Half Of Accident Victims Don’t Know What To Do
Half of all Canadian drivers admit they don't know what to do immediately after having an accident. And that's a costly mistake for drivers, who can find themselves quickly overwhelmed or taken advantage of, according to a new survey by Aviva Canada. Read more.

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“20/20 Foresight:
Keys To Success in a Dynamic World”

Feb. 25-26, 2020, in Toronto

Online registration is open for the 2020 Insurance-Canada.ca Technology Conference.

The insurance sector is spinning with change. We face new and evolving risks shaped by factors including new technologies, climate change and severe weather, evolving societal norms, and customers’ ever-changing expectations.

At ICTC2020 in February, industry leaders and experts will define the next generation of insurance and risk management.

Eugene Lee, VP of Insurance & Wealth Management Solutions at Hearsay, will present on “Proactive Communications: How To Take the Customer Experience to the Next Level and Drive Measurable Business Benefits.”

Discover the implications for achieving exceptional performance in insurance. Register today.

Sponsorship opportunities are available now – choose what suits your needs and your budget.

Mark your calendar now for Feb. 25-26, 2020:

For all the latest details, visit insurance-canada.ca/ictc.

Featured job opportunities:

Personal Lines Customer Service Representative
Regal Insurance Brokers
Kitchener/Waterloo, ON

Personal Lines CSR
Utter Morris Insurance
Burlington, ON

From Doug Addressing Opportunities In Claims Helping customers better manage risks can reduce both claims frequency and severity. When there is a loss, the industry is intensely focusing on improving claims on all fronts. Parametric insurance (last week) may represent the ultimate in “touchless” claims. For others, the objectives include improving the customer experience, shortening the time to close a claim and addressing the total cost. What are some of the undertakings? They include: Improving call centres (hours, functions, i.e., take more than just the basic details) Using multiple communications channels (telephone, email, text, SMS, etc.) Extending digital processes to partners (e.g. ASSI and Aviva FNOL and customer contact) Apps to help speed the FNOL and add richer detail (e.g., photos) Drones for safer, faster inspections Image interpretation to assess loss and repair costs (damaged roofs, vehicles) Deeper analytics, ML and AI for improved fraud detection With ICTA nominations closing tomorrow (Dec. 4), I look forward to seeing any in the claims arena. It is a topic to be addressed at ICTC2020 (Feb. 25-26), as well. Doug Grant, CIP Partner Insurance-Canada.ca