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INSURANCE INDUSTRY NEWS
Google, Allianz, Munich Re To Revolutionize Risk Management In The Cloud
Google Cloud, Allianz Global Corporate & Specialty (AGCS) and Munich Re are pleased to announce a first-of-its-kind collaboration between a major cloud provider and leading cyber insurance companies. The Risk Protection Program is designed to help customers reduce cloud security risk and in turn potentially reduce costs by connecting with two of the world's leading insurers for specialized and enhanced cyber insurance designed exclusively for Google Cloud customers.
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Desjardins Launches Omni Mobile App
Desjardins is proud to announce the launch of its new Omni mobile app, which gives employees a simple and user-friendly way to manage their group benefits and retirement savings plans. Omni Desjardins combines the Claim 360° and Your Way apps to streamline the user experience. Plan members can quickly and easily submit claims, make group retirement savings transactions, and access practical tools and resources.
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A.I. Adoption By Auto Insurers Surges In 2020
CCC Information Services, an AI leader in insurance technology, reports that claims processed using deep learning have increased more than 50 percent year over year. The company also reports that more than 5 million unique claims have been processed using a CCC deep learning AI solution, and the number of claims using two or more of its AI applications has more than doubled year over year.
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Upward Insurance Pricing Momentum To Continue
Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, has released its Q4 2020 Global Market Insights Report, which finds that insurance pricing is up across most lines and classes globally, as COVID-19 impacts, including the economic downturn, have resulted in heightened underwriting scrutiny and risk aversion from insurers.
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CNA Launches Holistic Cyber Protection
CNA is pleased to announce CNA CyberPrep, a proactive program of cyber risk services designed to help companies take a holistic approach to cyber threats, aiding CNA cyber policyholders in threat identification, mitigation and response.
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New Tool Unearths Insights From Building Permits
Canadian insurers can now use robust analytics from building permits to refine their underwriting and ensure their customers have the property coverage they need as their lives, homes and businesses evolve. These new analytics come from Verisk, a leading global data analytics provider, which has expanded its BuildFax property condition and history solutions into Canada.
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Aon Partnership To Launch Cryptocurrency Pilot
Aon plc has announced a new offering to secure capital through a collaboration with Nayms, an InsurTech platform that supports cryptocurrency investors in insuring crypto-risk. The pilot will mark the first blockchain-enabled placement of insurance ever conducted with regulated, professional insurance entities.
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Integris Group Launches ISI Enterprise Suite
Insurance Systems Inc., a provider of enterprise software solutions to the property & casualty insurance industry, is pleased to announce that Integris Group (formerly CMIC Group) has successfully launched ISI Enterprise for its end-to-end insurance operations.
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Waypoint Adds GNK Insurance Services Inc.
Waypoint Insurance, Navacord's premier Broker Partner in British Columbia specializing in top-tier P&C insurance products unique to life on the West Coast, is thrilled to announce the addition of GNK Insurance Services Inc., effective March 1, 2021.
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Archway Acquires CD Anderson Insurance
Archway Insurance, one of Atlantic Canada's largest and fastest growing insurance brokerages, is pleased to announce its expansion into the New Brunswick Capital Region with the acquisition of CD Anderson Insurance Ltd., effective March 1, 2021.
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Westland Insurance Acquires Dick Agencies Insurance Brokers
Westland Insurance Group is pleased to announce the closing of a new acquisition, Dick Agencies Insurance Brokers, effective March 1. Westland's new retail office, located in Brandon, supports the company's expansion strategy to serve more communities in Manitoba and across Canada.
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Apollo Welcomes VP David Blanchard
Apollo Insurance Solutions Ltd. is pleased to announce that David Blanchard has joined the Apollo team as Vice President of Compliance and Underwriting Operations.
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Group Insurer Third-Party Enrollment Platforms
With younger generations entering the workforce, group life and voluntary benefits are the introduction to accident, health, disability, and life insurance for many employees. Many insurers are looking to build scale and efficiency quickly while gaining share in a market that is already concentrated among a relatively small number of insurers. In a new report, Novarica provides an overview of group life and voluntary/worksite insurer business and technology issues, data about the marketplace, and more than a dozen examples of recent technology investments by insurers.
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Satisfaction With Core Systems Vendors: Survey
Property and casualty insurance carriers worldwide are being asked to provide more customized and personalized experiences for their policyholders, such as quicker and more accurate underwriting decisions or a facilitated claims process. To make this happen, carriers increasingly rely on third-party data and on a core system that can integrate the data into various workflows. Understanding what vendors are doing right and what they could improve upon can help carriers in search of a new core system by showcasing some key elements for purchase consideration.
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IBC Hails Ontario Towing Industry Reforms
Insurance Bureau of Canada has issued a statement congratulating the Ontario government for its commitment to deliver substantial change to the towing industry in the province to tackle rampant fraud and make roads and highways safer for drivers.
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