INSURANCE INDUSTRY NEWS

Capgemini Unveils Strategic A.I. Framework
Capgemini has unveiled its Resonance AI Framework to help organizations unlock the full potential of AI at scale while creating the right "human-AI chemistry" to ensure long-lasting adoption. Supported by a suite of AI transformation offers and a comprehensive generative AI and AI agents gallery, the framework enables organizations to turn strategy into action across the enterprise. Read more.

Chineses Automaker Assumes Liability For Self-Parking Crashes
Chinese electric vehicle maker BYD has announced in a Weibo post that it will take responsibility for any losses to cars using its “God’s Eye” Level-4 Advanced Driver Assistance System (ADAS) for self-parking: the automaker will cover all repair costs, third-party property damage, and personal injury compensation resulting from malfunctions or algorithm errors in its autonomous parking system. Read more.

Canadians Struggling With Financial Confidence, But Human Advice Helps: Co-operators
A new national survey from Co-operators finds that only one-third of Canadians feel optimistic about their financial future, painting a stark picture of how economic turbulence is shaping outlooks across the country. Yet one group is pulling ahead: Canadians who work with a financial advisor are significantly more optimistic, confident and resilient. Read more.

Strong Reinsurance Returns Attracting Capital
Insured loss activity in the second quarter levelled off from the elevated first quarter, and losses for the first half of 2025 are now flat compared to the inflation-adjusted five-year average, according to leading global risk and reinsurance specialist Guy Carpenter. Despite loss activity in the first quarter, strong reinsurer performance is expected to continue in 2025. Read more.

Canadians Don’t Realize They Need Travel Coverage When Travelling Within Canada: CAA
This summer, many Canadian families are opting to explore the beauty of their own country, travelling to top destinations like Vancouver, Calgary and Halifax rather than heading south. While Canadians prioritize insurance for international trips, a recent CAA survey found that many overlook the necessity of coverage for domestic travel. Read more.

Insurance Meets Interactive: The General Creates Custom Experience in Fortnite
With road anxiety on the rise, especially among Gen Z drivers, The General® is expanding its footprint in the gaming ecosystem with the launch of The General Road Test Royale. This custom gaming experience helps drivers tackle road test challenges in a safe, fun virtual environment Read more.

BrokerLink Completes Three More Acquisitions
BrokerLink is expanding again with new acquisitions in three Canadian provinces: Newfoundland-based Crosbie Job Insurance, Ontario-based Chris Mellor Insurance Brokers Ltd. (CMIB), and Leibel Insurance Group in Alberta. Crosbie Job Insurance closed June 1, while Leibel Insurance and CMIB closed July 1. Read more.

Westland Acquires Forefront Insurance Inc.
Westland Insurance, one of Canada's largest insurance brokerages, is pleased to announce that it has acquired Forefront Insurance Inc., effective July 1st. Read more.

Hoogasian Insurance Joins RRJ Insurance Group
RRJ Insurance Group Limited, o/a KRGinsure, is pleased to announce that Hoogasian Insurance Brokers Ltd., located in St. Catherines, Ontario, has joined our organization. Read more.

US Tariffs Set To Slow Premium Growth: Swiss Re
Global growth is decelerating as US tariff policy reduces trade and heightens uncertainty, according to Swiss Re Institute's latest World Insurance sigma report. Consumers and firms have likely already begun cutting spending and investments in response to the uncertainty, which may not be fully visible in the economic data yet. Read more.

In the InsurTech Spotlight this week:

BiiCanada
BiiCanada is first and foremost a risk management/loss prevention firm. Our mandate is to provide the insurance industry with tools and the expertise to assist in collecting pertinent information and data for underwriting and claims departments. We are part of the reason our clients' underwriting results and profitability is good. Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Account Manager, Commercial Lines
Lawrie Insurance Group
Hamilton, ON

Senior Underwriter (Personal Lines Mono) Auto
SGI
Regina, SK

From Doug A salesperson once asked me rhetorically why we spend all our time focused on internal operations and distribution when most of the insurance company's outflow is in claims. Even four decades ago, risk management was important, e.g. via premium discounts or marketing partnerships to motivate customers to reduce personal property. In 2017, Guarantee Insurance received an Insurance-Canada.ca Technology Award (ICTA) for their GOLD Watermark project to detect water leaks and turnoff the water supply (standalone, no connectivity) in high-end dwellings, free of charge. Today, prevention and mitigation is the big InsurTech opportunity in homeowners insurance. A recent deep-dive by Matteo Carbone – “Can InsurTech fix homeowner insurance?” – addresses telematics in property insurance, and the impact in two areas in the US market: electrical (Whisker Lab) and water damage (Ondo). His analysis found that 15 points on the combined ratio that can be addressed with fire protection solutions, and 21 points with water leak prevention. Today, several insurers in Canada offer telematics-enabled water-leak detection with auto shut-off with substantial premium discounts. Smart home monitoring tools are increasinging, an integral part of the ‘Predict and Prevent’ approach. Doug Grant, CIP Partner Insurance-Canada.ca