INSURANCE INDUSTRY NEWS

Innovations Shaping Insurance In The Age Of A.I
Munich Re and ERGO are pleased to announce the Tech Trend Radar 2025 report – your guide to the technologies that matter, developed by industry experts to identify and assess the most relevant insurance technology trends for the upcoming year. Read more.

Ransomware Stabilizing – But Remains Costly
Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, has published its 2025 Cyber Claims Report, which details emerging cyber trends and their impact on Coalition policyholders throughout the full year of 2024. The report found that ransomware claims stabilized in 2024 despite remaining the most costly and disruptive type of cyberattack. The majority of 2024 claims (60%) originated from business email compromise (BEC) and funds transfer fraud (FTF) incidents, with 29% of BEC events resulting in FTF. Read more.

Beneva Deploys PolicyCenter, BillingCenter On Guidewire Cloud Platform
Beneva is pleased to announce it has successfully deployed Guidewire PolicyCenter and Guidewire BillingCenter to power and simplify its underwriting, policy administration, billing management, and IT operations, adapt more quickly to changing market demands, and deliver more value to its policyholders. The company migrated its on-premises PolicyCenter and BillingCenter environments to Guidewire Cloud Platform, beginning with its personal lines of business. Read more.

MediHelp Launches With CoverGo’s Next-Gen Platform
CoverGo is pleased to announce that MediHelp International, a market leader in international private medical insurance and private medical insurance across Central Eastern Europe, has officially gone live with CoverGo's next-gen, end-to-end health insurance platform to power its digital transformation and redefine health insurance operations across multiple European markets. Read more.

Roadzen Partnership To Launch UK Connected Vehicle Protection
Roadzen Inc., a global leader in AI at the intersection of insurance and mobility, is pleased to announce that its wholly owned UK-based subsidiary, Global Insurance Management Limited (GIM), has partnered with one of the world's largest telematics providers to deliver an integrated, technology-led vehicle protection solution for the UK automotive retail and finance markets. Read more.

Gartner Predicts A.I. Modelling Shifts Focus
Gartner, Inc. predicts that by 2027, organizations will implement small, task-specific AI models, with usage volume at least three times more than those of general-purpose large language models (LLMs). While general-purpose LLMs provide robust language capabilities, their response accuracy declines for tasks requiring specific business domain context. Read more.

RIBO Names Mark Abraham CEO
The Registered Insurance Brokers of Ontario (RIBO) is pleased to announce the appointment of Mark Abraham to the role of Chief Executive Officer, effective June 1st. Read more.

Featured job opportunities:

Executive Commercial Insurance Producer – High-Value Clients
A-Kan Insurance
Edmonton, AB

Commercial Lines Underwriter
Premier Canada
Cambridge / London / Calgary

In the InsurTech Spotlight this week:

Bene-FIX
Bene-FIX is a 20-year endeavor to replace 5000+ complex incompatible systems with a SINGLE INPUT ONCE™ system. Long before anyone could dream of a universal, fully integrated, collaborative, end2end, cloud-based group insurance solution, Bene-FIX's team of professionals were focused on delivering the system. Today, it is a reality for you to take advantage of. Learn more.

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From Doug The deployment of physical robots can make businesses more productive and extend what a person is capable of. I didn't fully realize the breadth and scope of robot use already going on in Canada, with myriad examples such as: Homeowners use consumer robots like iRobot's Roomba to autonomously vacuum floors. Sobeys uses shelf-scanning robots looking for out-of-stock items, pricing errors, and misplaced products. DOT Technology developed a self-driving, multi-use farm implement that can seed, spray, and harvest crops autonomously. Greenhouse operators are adopting robots to trim, spray and monitor crops. Toronto Western Hospital uses robotic systems for minimally invasive surgeries for enhanced precision; Trexo Robotics designs wearable exoskeletons that help children with mobility challenges walk. Construction firms use an autonomous layout robot to precisely print construction site layouts onto floors. Lion Electric has integrated mobile robotic charging units at its vehicle depots to plug in parked trucks for overnight charging. What are the insurance implications for physical robots, for the robot manufacturer? for the users? These examples include AI, ranging from minimal to a comprehensive and learning operational role. Do the insurance implications change as the amount of AI function increases? Doug Grant, CIP Partner Insurance-Canada.ca