INSURANCE INDUSTRY NEWS

KPMG Launches AI Trust Services To Transform AI Governance, Enabled By ServiceNow
KPMG is pleased to announce the launch of KPMG AI Trust, a suite of services to help clients ensure AI reliability, accountability and transparency as they scale AI applications, leveraging KPMG's leading Trusted AI framework and the ServiceNow AI Control Tower. The proprietary solutions for clients are being built and scaled using the AI technology of KPMG's longstanding global alliance partner ServiceNow to create tools and processes that are designed to address the lifecycle of AI adoption. Read more.

Brickeye Launches IoT-Enabled Dashboard To De-Risk Construction Projects
Brickeye, a leading provider of Construction IoT (Internet of Things) and job site risk mitigation technology services, is proud to announce the launch of BuildersRiskIQ™, a first-of-its-kind digital dashboard designed to transform how builders mitigate construction risk and secure Builders Risk insurance coverage. Read more.

Co-operators Transforms Claims Operations With Guidewire ClaimCenter, Cloud Platform
Co-operators, a leading Canadian multi-line insurance and financial services organization, and Guidewire are pleased to announce that Co-operators successfully implemented Guidewire ClaimCenter on Guidewire Cloud Platform to power its claims management functions, adapt to changing market demands, and deliver more value to policyholders. Read more.

Manulife Named #1 Life Insurance Company In A.I. Maturity By Evident
Manulife is pleased to announce that it has been ranked first in the life insurance sector for artificial intelligence maturity in the inaugural Evident AI Index for Insurance, ranking in the top five across the insurance industry overall, and is one of only three companies to rank in the top 10 in every category measured. Read more.

Rising Litigation Trends Could Impact Commercial Insurance Costs
Third-party investors are using the Canadian court system to profit on lawsuits, according to a new report from global law firm Dentons LLP, commissioned by IBC to research emerging trends in legal practices that are placing pressure on commercial insurance claims. Read more.

Genpact, Amazon Business Partner To Transform Personal Property Contents Claims
Genpact, a global advanced technology services and solutions company, today announced the launch of Genpact RapidReplace to transform personal property contents claims processing. This generative AI-powered solution streamlines the fulfillment process to enable straight-through processing (STP) and rapid goods replacement through Amazon Business for a better customer experience. Read more.

ARAG, My Mutual Insurance Launch Personal Legal Expense Coverage In Saskatchewan
ARAG Legal Solutions Inc. is proud to announce a strategic partnership with My Mutual Insurance, a trusted, homegrown mutual insurer with over 130 years of experience. Through this partnership, My Mutual will offer Personal Legal Expense Coverage as part of its insurance portfolio beginning September 1st. Read more.

The Motor-Powered Two-Wheeler Telematics Market
IoT analyst firm Berg Insight has released a market report which analyses the latest developments on the connected motorcycle, scooter and moped market worldwide. This second edition of the The Motor-Powered Two-Wheeler Telematics Market study provides 85 pages of unique business intelligence, including 5-year industry forecasts, expert commentary and real-life case studies on which to base business decisions. Read more.

Nova Scotia Opens First Collision Reporting Centre
In collaboration with the Cape Breton Regional Police, Accident Support Services International Ltd. (ASSI) officially opened Nova Scotia's first Collision Reporting Centre (CRC) at the Cape Breton Regional Police Headquarters in Sydney. Read more.

Unseenlabs Launches New Satellite To Track The Invisible At Sea
Unseenlabs, the leader in space-based radio frequency (RF) detection, announces the upcoming launch of its latest satellite, BRO-18. This new asset will expand Unseenlabs' existing constellation and further strengthen its operational capabilities in tracking illegal and unreported maritime activity. Read more.

Featured job opportunities:

Business Development Account Manager
SGI
Toronto, ON

Estate Planning Associate (Financial Security Advisor)
RBC Wealth Management Financial Services
Montreal, QC

In the InsurTech Spotlight this week:

Instant Risk Coverage
Instant Risk Coverage is a digital insurance provider with on-demand solutions built to support the needs of venues, professionals, and their clients. While still allowing brokers to own their relationship with their clients, IRC does the heavy lifting of quoting, issuing policies, and processing claims. This allows us to provide insurance in minutes with no calls, no emails, and no more waits. Learn more.

Calling all InsurTechs! Click here to participate.

From Doug Who (or what) is doing the work? We hear that AI and AI agents – or simple co-pilot versions – will simply help people do their job better. To what extent does “better” mean “faster”? Which begs the question, how much insurance is sold based on ‘price’? (I thought so.) Like any other productivity tool in a competitive space like insurance, AI in whatever form will be used to drive out cost. Does a task performed by a Person cost less than an AI Agent doing that same task? Other factors may alter the equation – quality, consistency, empathy, etc. – but cost speaks loudly. Compare our standard of living today to three centuries ago, before the ‘disruption’ of the Industrial Revolution – before steam engines, automobiles, computers, internet, etc. Over years, jobs have been lost and replaced by different jobs, often with new skill requirements. Today’s AI evolution is happening so quickly that workplace turmoil – even broader outrage – may be unavoidable. A completely virtual agentic insurance business has already been hypothesized. Is that possible, and how soon might we see one? Doug Grant, CIP Partner Insurance-Canada.ca