INSURANCE INDUSTRY NEWS

CFC Partners With Online Quoting Platform
Specialty insurer CFC is pleased to announce a new partnership with Tarmika, an online quoting platform for independent agents. Read more.

OpenText Innovations Empower Cyber Defenders
OpenText is pleased to announce new advancements to protect organizations against the ever-growing complexity of cyber threats. Read more.

Guy Carpenter Launches Cyber CatStop+ To Manage Risk Volatility
Guy Carpenter, a leading global risk and reinsurance specialist, has announced the creation of its new cyber reinsurance product, CatStop+. Guy Carpenter completed its first transaction under CatStop+ during the January 1st renewal period. Read more.

Blanket Partners With Humania On Simplified Term Life Insurance
Blanket Life is pleased to announce the launch of its Simplified Issue Term life product in Partnership with Humania Assurance. Read more.

Sun Life Launches Term Insurance For Diabetes
Sun Life is proud to announce the launch of a new product to help Canadians with diabetes make health and financial decisions on their own terms. Read more.

Innovative Insurance Solution Boosts U.S. Clean Energy Investments
Marsh, the world's leading insurance broker and risk advisor, is pleased to announce the availability of Tax Investment Default Insurance, a first-of-its-kind solution designed to expand the pool of capital available to invest in federal tax credits tied to US renewable energy projects. Read more.

SSRU Partners With Millennium Insurance Corporation
SSRU is excited to announce a partnership with Millennium Insurance Corporation effective April 1, 2024. This strategic alliance has increased SSRU's A-rated Commercial Property capacity for risks in the Energy, Mining and Manufacturing sectors. Read more.

Messagepoint Announces Ai-Powered Translation Accuracy
Messagepoint Inc. is pleased to announce enhancements in the latest release of its intelligent Content Hub for customer communications management, designed to streamline the process of translating customer communications and documents while ensuring accuracy. Read more.

Hub Announces Acquisition Of Assets From 2197747 Alberta Ltd.
Hub International Limited, a leading global insurance brokerage and financial services firm, has announced the acquisition of certain assets from 2197747 Alberta Ltd., which is partially owned by Carianne O'Connor. Terms of the transaction were not disclosed. Read more.

How Government Can Improve Insurance Market Conditions: IBC
A new report from the Insurance Bureau of Canada recommends policies that governments can adopt to help stabilize commercial insurance premiums for businesses and reduce cost pressures within the commercial insurance market. Read more.

Mosaic Unveils Specialist Engineer Liability Protection
Mosaic Insurance is pleased to announce it has launched a suite of professional liability products for specialist engineers, offering US$15 million in targeted primary coverage for unique risks. Read more.

Prioritize Community Resilience Amid Increasing Risk: Co-operators
Co-operators highlights the need to develop and invest in collaborative, innovative solutions to the challenges faced by Canadians in its integrated annual report. Read more.

Aviva Partners With Nature Conservancy
Aviva has pledged nearly CAD 6 million over the next seven years to support targeted restoration, conservation and opportunities for carbon removal projects. Read more.

Allowance Uncertainty Is Real: RBC’s Mydoh
Canadian parents can't seem to agree on much when it comes to giving their kids an allowance, according to a new Canadian Allowance Report from Mydoh, the money management app for kids and teens powered by RBC. Read more.

In the InsurTech Spotlight this week:

Insurego
Insurego Inc. is an insurance broker that puts a real focus on the customer experience. To make that as good as possible, we have developed a unique customer portal supported by a customized Fortus rater and custom integration to our Broker Management System. Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Intermediate Adjuster (Auto)
SGI CANADA
Toronto, ON

Bilingual Regional Underwriter
HSB Canada
Toronto, ON

From Doug Trend: Embedded Insurance Infrastructure innovations, including an increasingly robust internet and widespread use of APIs, have enabled the growth of embedded insurance. Contractual Agreement: Success depends on the contract between insurance provider and retailer, how well responsibilities are executed, the volumes, and the profitability for each party. Value to the Insurance provider: The value depends on the objectives of the embedded program and the terms of the partnership agreement. Possibilities: Growth of the customer base and premium volume when consumers take up the offer of insurance during their purchase of the retailer's product. Customer Data: As passed by the retailer for insurance purposes; and more gathered as necessary during the insurance transaction. Product data: The retailer can pass very detailed product information. Underwriting data: If required, more data can be requested during the transaction. Post-sale opportunities: Unless restricted by agreement, the insurance provider has opportunities for ongoing engagement, risk management and cross-selling. Both insurance provider (customer acquisition) and retailer (added value) can derive value from embedded insurance. A usual, the devil is in the details. Join us August 28th in Toronto to explore more at the Insurance-Canada.ca Executive Forum. Doug Grant, CIP Partner Insurance-Canada.ca