INSURANCE INDUSTRY NEWS

Canadian CEOs Embracing A.I.: IBM
Canadian CEOs are making bold strides in the global race to unlock AI's potential, according to the 2025 IBM Institute for Business Value CEO Study. Productivity gains are the key driver behind leaders' desire to adopt generative AI, including the ability to automate routine tasks, optimize workflows, analyze data, and provide actionable insights. Read more.

Neutrinos Launches A.I. Agent Library
Neutrinos, a leader in AI-powered intelligent automation for insurers, is pleased to announce the release of its AI Agent Library, designed to help insurers operationalize artificial intelligence across claims, underwriting, servicing, and distribution. Read more.

Ai Insurance Organization Launches Ralden Insurance
Ai Insurance Organization is proud to announce the official launch of Ralden Insurance, a new commercial division built to serve the growing mid-market and large professional markets across British Columbia, Alberta, and Ontario. Read more.

Rival Launches REVEAL, Its New Data Product
Rival Insurance Technology is pleased to announce the launch of Reveal, a new rating data insights product built to deliver anonymized, policy-level market intelligence to the industry. Reveal captures a significant volume of policy quotes in real time from Rival's BMS and rating ecosystem, anonymizes it, and organizes it into structured, actionable insights. Customers can use Reveal's intelligence to refine product offerings, inform pricing strategies, and track market trends. Read more.

QuickFacts Expands Partnership with My Mutual Insurance
QuickFacts, a provider of knowledge management tools for insurance brokerages, is pleased to announce an expanded partnership with My Mutual Insurance, supporting My Mutual's commitment to Saskatchewan brokers by making it easier to access critical underwriting information. Read more.

Car Insurance Costs An Escalating Burden For Drivers: MyChoice Study
Despite efforts to contain auto insurance rate hikes, premiums continue to rise in most cities across Ontario, driven by factors such as surging repair costs, vehicle theft, insurance fraud and increasing claim payouts. The 2025 Ontario Car Insurance Market Overview released by MyChoice provides a snapshot of how much more the average driver will pay and which communities have been hit the hardest. Read more.

Applied Rating Index Q2 2025 Results
Applied Systems® is pleased to announce the second quarter of 2025 results of the Applied Rating Index™, the Canadian insurance industry's premium rate index. In Q2 2025, average premiums for both Personal Auto lines and Personal Property lines increased year over year. Quarter over quarter, premium rate change increased for Personal Auto and for Personal Property compared to Q2 2024. Read more.

Deloitte Expands GenAI, Agentic AI Suite
Deloitte Canada has announced a series of new artificial intelligence (AI) capabilities within Omnia, Deloitte's global cloud-based Audit & Assurance platform, designed to evolve the audit and assurance experience, advancing Deloitte's effort to drive innovation with enhanced technology. Read more.

Escalating Tariff War Tops Q2 Emerging Risks
The escalating tariff and trade war moved into the top rank of emerging risks for the second quarter of 2025, according to Gartner, Inc. Read more.

Surging Circular Economy Still Underfunded: KPMG
Businesses engaging the circular economy raised nearly USD 164 billion between 2018 and 2023, according to the newly released Circularity Gap Report. Investment in circular business models surged in recent years, but most capital is still flowing to more conventional solutions such as car repair, resale of electrical goods, and recycling, leaving many high-impact innovations underfunded. Read more.

More Drivers Slowing For Speed Cameras: CAA
New findings from CAA South Central Ontario show that Automated Speed Enforcement is changing driver behaviour, with ASE cameras influencing habit changes in two ways: drivers are either slowing down or avoiding ASE cameras altogether. Read more.

Small Canadian Exporters Covering Cost Of US Tariffs: CFIB
Most small businesses are absorbing some or all of the costs associated with U.S. tariffs, according to new data by the Canadian Federation of Independent Business. Read more.

In the InsurTech Spotlight this week:

Swift Digital Insurance
Swift is an entirely digital insurance broker in Western Canada. Swift offers broker value with an online-only platform. At Swift, we combine the best of two insurance models to bring you beautiful simplicity and next-level peace of mind. With Swift you don't have to choose between ‘easy’ and ‘secure.’ Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Commercial Auto Underwriter
SGI
Edmonton/Calgary, AB

Estate Planning Associate
RBC
Montreal, QC

From Doug IoT and Property Insurance IoT, the connection of sensors to external services, may have started with alarm systems connected to a monitoring centre. Insurance certainly provided encouragement for this reduction in risk through promotions, discounts and more. The Internet providing near-universal connectivity and dramatic innovations in sensor technology have enabled many more programs and uses for loss prevention and mitigation. Smart-home sensors such as water-leak sensors, flood sensors, temperature sensors (freeze risk), smoke/CO and smart security systems alert owners (and sometimes the insurer) so damage can be stopped before it grows. Automatic mitigation by some IoT setups which include auto shut-off valves or integrations that stop water flow when a leak is found, preventing large water losses. For construction and commercial monitoring, IoT networks (flow, humidity, pressure sensors) are used to detect leaks, moisture or system failures during construction and occupancy. Underwriting, risk scoring and proactive outreach using sensor data feeds and analytics for risk scores and early-warning flags allow insurers to offer targeted prevention services, adjust premiums, or proactively contact customers. Fewer incidents and losses are a win-win for both customers and insurers. Doug Grant, CIP Partner Insurance-Canada.ca