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INSURANCE INDUSTRY NEWS
Relay Platform Raises Millions To Unlock The Placement Ecosystem Of Tomorrow
Relay Platform, a global property & casualty Quote-Bind-Issue portal provider, has raised USD 5.2 million in seed financing. This follows a pre-seed SAFE round in January 2020, for a total of USD 8.25 million in financing to date. The round is led by Drive Capital, a Columbus-based venture capital firm that is investing in the world's next generation of market-defining companies, with participation from Highline Beta, the Canadian venture capital firm that incubated Relay. Since Drive's founding in 2012 by former Sequoia Capital partners Chris Olsen and Mark Kvamme, the firm has raised USD 1 billion to invest in startups solving important problems in large markets.
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Actuaries Share Emerging Risks Survey Results
The Casualty Actuarial Society, Canadian Institute of Actuaries, and the Society of Actuaries are pleased to share the results of the 14th Emerging Risks Survey, which provides a snapshot of risk management preparedness, showing how teams are preparing for the worst while strategizing for the best outcomes.
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Innovate For Resilience, New Revenue: Accenture
The global insurance industry will grow by more than USD 1 trillion between 2020 and 2025, despite current recessionary conditions and upended risk models. To capture a share of this growth and to defend their place in the insurance value chain, carriers must innovate. Accenture's latest report explores the actions insurers can take to seize new revenue opportunities and retain customers seeking innovative digital offerings.
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Teachers Life Partners With Virgin Pulse
Teachers Life is pleased to announce it has partnered with Virgin Pulse, the global leader in digital health and wellbeing solutions, underscoring its commitment to the lifelong wellbeing of its Members and their communities. As the first Canadian Life Insurer on the Virgin Pulse platform, Teachers Life is ensuring its Members have best-in-class wellness benefits beyond the policy.
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Canadian Broker Network Expands Membership
Canadian Broker Network, Canada's leading network of independent insurance brokers, is pleased to announce that MacLeod Lorway Financial Group Ltd. has joined CBN.
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Westland Makes Triple Acquisition In Prairies
Westland Insurance Group Ltd. is pleased to announce the closing of three new acquisitions: Hillcrest Insurance and Pinks & Plates Insurance in Alberta, and Moon Insurance in Saskatchewan. These firms' seven branch locations in the prairies support Westland's expansion strategy to serve more communities across Canada.
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InsureLine Announces Acquisition Of MAIBC
InsureLine is pleased to announce it has acquired Mutual Aid Insurance Brokers Company Inc. MAIBC has its main office in Kitchener, Ontario with branches in Chatham, Leamington, London, the Niagara Region, and Whitby.
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PolicyAdvisor Ends Record Year With 5x Growth
PolicyAdvisor.com is pleased to announce it has quoted more than CAD 15 billion in insurance coverage since launching in 2019. The Company's simple, digital application process has accelerated access to financial protection tools and affordable insurance coverage for Canadian families seeking to navigate the economic challenges of COVID-19.
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Collectivfide Closes RK Mooney Acquisition
Collectivfide Insurance Group Inc. is pleased to announce finalization of the acquisition of Barrie-based multi-line broker RK Mooney Insurance Brokers Ltd. This announcement marks the fourth broker acquisition for Collectivfide since the firm was formed in 2019.
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McCAM Insurance, AIM Insurance Join Forces
Rorie McIntosh, CEO of McCAM Insurance, and Damon Clarke, CEO of AIM Insurance, are pleased to announce a strategic alliance of these two powerhouse brokerages in Ontario.
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