INSURANCE INDUSTRY NEWS

Property & Casualty Insurance Top Trends 2023
Capgemini is pleased to announce the release of its Property and Casualty Insurance Top Trends 2023 report, which offers a glimpse into how P&C insurers strategically prioritizing digital transformation initiatives to strengthen their capabilities and navigate challenging macroeconomic volatility. Read more.

Gallagher Re Q2 Global InsurTech Report
Gallagher Re is pleased to announce the release of its Q2 2023 Global InsurTech Report, which reviews global InsurTech funding and investment quarter over quarter and spotlights early-stage acceleration [Series A]. Read more.

Planck Keeps Customers at the Leading Edge of GenAI Technology
Planck, the leading provider of AI-based risk insights and the premier commercial insurance underwriting workbench, has become the first insurtech provider to offer generative AI functionalities within their underwriting platform, granting underwriters unparalleled access to risk data, insight generation, and explainability. Read more.

Guidewire Announces Latest Hakuba Cloud Release
Guidewire is pleased to announce Hakuba, its latest cloud release, which drives profitability for P&C insurers. New capabilities include process automation across the P&C insurance lifecycle and a convenient way to store and govern third-party data for use with InsuranceSuite. Read more.

Cognition+ Delivers New Capabilities for Brokers & Agents Working With Mutuals
Cognition+ is pleased to announce the Successful launch of its Broker Connectivity solution with seven mutual insurance carriers. Read more.

Brokerlink Grows By Three In Alberta And Ontario
BrokerLink is pleased to announce its acquisition of Alberta-based Vegreville Insurance along with Ontario-based brokerages Rick Beer Insurance Inc. and AAimsafe Insurance, all of which closed August 1. Read more.

Navacord Adds Medi-Quote Insurance Brokers
Navacord is pleased to announce their partnership with Manitoba-based Medi-Quote Insurance Brokers, effective July 4th. Medi-Quote specializes in travel and medical insurance, and is well known for servicing the Canadian snowbird population. Read more.

CSIO eDocs Working Group Finalizes Business Requirements
CSIO is pleased to announce that its eDocs Working Group has finalized the business requirements for refining the eDocs codes and descriptions. This will ensure eDocs are clearly labelled, saving brokers and insurers time and money while building industry confidence. Read more.

Intact Ventures Leads Resilience Series D Round
Resilience is pleased to announce an equity financing round to accelerate its global expansion and scale the adoption of its holistic cyber risk platform. The Series D round was led by Intact Ventures, with participation by Lightspeed Venture Partners, General Catalyst, and Founders Fund. Read more.

Patra Introduces AI to its All-In-One Policy Checking Service Offering
Patra is pleased to announce the introduction of PolicyChecking.AI, a tech-enabled policy checking service powered by Patra's proprietary automation technology including artificial intelligence, machine learning, and natural language processing. Read more.

CHES Special Risk Launches Personal Valuables Floater Insurance
CHES Special Risk is thrilled to announce the launch of their new Personal Articles Floater insurance. This innovative insurance coverage offers comprehensive protection for valuable personal property, ensuring that the most cherished possessions are safeguarded in the case of unforeseen events. Read more.

CBN Announces Pi Excellence Award Recipients
Canadian Broker Network, Canada's leading network of independent insurance brokers, is pleased to announce its PI Excellence award recipients, recognizing the outstanding achievements of CBN Member's Top Personal Insurance Performers. Read more.

How Brokers Can Attract And Retain Customers With Niche On-Demand Insurance
Webinar – Wednesday, August 16

Samos Insurance's unique product offering is being used by brokers as a lead generation tool as well as a powerful customer retention solution.

Founder & CEO Leon Punambolam joins us for our next ‘Technology In Action’ webinar tomorrow afternoon to talk about its quick and easy quote to policy issuance process, underpinned by a proprietary data model.

Register now or learn more about the webinar.

From Doug Are we there yet? The future of insurance is personalized, streamlined and effortlessly automated. It will be built on APIs, integrated systems and insightful, democratized data. The future is driven by digital transformation and investment in systems and applications that will grow. The future depends on good capable people. We have come a long way since first digital. I could list seven manual steps/transcriptions of data between customer and digital storage in broker and insurer systems. Today as few as one manual step – the end-customer entering basic data – results in updated broker and insurer records with external data pulled from various sources, all in mere seconds. Many situations do require manual intervention, answering questions, underwriting the risk or handling a claim. Improvements will occur in three directions: • More transactions will be more automated straight through. • More data will be gathered making underwriting or claims more precise, and customer communications better. • Where manual intervention is required, individuals will be better supported. We have come a long way; more will be done. Innovators at incumbents and startups alike will see to it. Doug Grant, CIP Partner Insurance-Canada.ca