INSURANCE INDUSTRY NEWS

InsurTech Trust Survey: Does A Trust Gap Exist?
A 2018 study by Trustradius showed that only 34% of B2B buyers feel they're told the whole story by vendors when it comes to tech. How does this play out in the insurtech space? Steve Pieroway of Benevolent Marketing wants to know what you think. Take the survey and share your voice. Read more.

Global P&C Market Has Increased Efficiency, Capacity & Resilience: Swiss Re Institute
The global property and casualty insurance market has doubled in size over the past 20 years, while innovation has resulted in broader access to coverage through a blend of conventional and alternative structures, according to Swiss Re Institute's latest sigma report. Read more.

Ransomware Costs Jump Despite Fewer Cyber Claims: Resilience
The financial fallout of ransomware attacks is climbing even as the number of cyber insurance claims falls, according to new data from Resilience, a leading cyber risk solutions company. Read more.

ASSI Enhances Auto Theft Prevention With CPIC VIN Scanning In CROMS
Auto theft continues to be a concern across Canada, with thousands of vehicles stolen each year. In response, Accident Support Services International is taking proactive steps to support police services and member insurers by enhancing its Collision Reporting and Occurrence Management System (CROMS). Read more.

First Onsite Launches Hurricane Prep Guide
First Onsite Property Restoration, one of North America's largest disaster recovery and restoration providers for commercial and residential properties, has launched a dedicated hurricane preparedness page, offering practical tips to help Canadians prepare for severe weather. Read more.

Small Businesses Turn To Costly Financing Options Despite Having Insurance: TD
A new TD Insurance survey reveals that while the vast majority of owners have business insurance, just over half would actually use it in an emergency. Read more.

BrokerLink Completes Four Acquisitions
BrokerLink is keeping up the momentum with its latest acquisitions in two provinces. In Ontario, the company added Insure Exact Insurance on July 1 and ThinkInsure on Sept. 1, while in Alberta, it welcomed First Fruits Insurance Services Ltd. on Aug. 1 and Costen Insurance on Sept. 1. Read more.

Co-Operators Grows In Quebec With Acquisition
Co-operators is pleased to announce its acquisition of Agence D'Assurances Montcalm Inc., a brokerage located in Québec City. The deal closed September 1st, as part of the organization's ongoing strategy to expand their regional footprint. Read more.

Applied Systems Acquires Cytora
Applied Systems is pleased to announce that it has acquired Cytora, the leading digital risk processing platform for the insurance industry, to accelerate Applied's vision of delivering the Next Generation of the Digital Roundtrip of Insurance. Read more.

Eleviant Solutions Rebrands As Coventus
Eleviant Solutions, a proven provider of AI-powered automation and communication tools, has announced its official name change to Coventus. Read more.

Featured job opportunities:

Senior Liability Specialist
SGI
Regina/various, SK

Manager, Commercial Underwriting
Gore Mutual Insurance
Cambridge, ON

In the InsurTech Spotlight this week:

QuickFacts
QuickFacts is a software company built by brokers for brokers. We built this company because we have been in your shoes and have experienced the frustrations that come with the traditional method of conducting underwriting comparisons, constantly checking on changing carrier information, and often having operational knowledge reside with just one person at a brokerage. Our mission is to eliminate as much operational wasted time as possible for brokers.
Learn more.

Calling all InsurTechs! Click here to participate.

From Doug In person and in business, each relationship we have carries some sense of trust in in the other party whether that relationship is a casual acquaintance, or a business to its employees and customers. Note the new survey by Steve Pieroway from Benevolent Marketing asking about the trust insurance businesses have in their InsurTech providers. Please take the survey; I look forward to the results. For a business to employee, the article “Lessons on AI in Underwriting and Claims” by Illia Pinchuk notes that trust, not technology, blocks AI adoption. It explores how to manage employee buy-in by developing an understanding, being transparent and thereby creating that trust. It seems that consumers question the trustworthiness of AI used by businesses. Perhaps the stories of AI issues – “hallucinations,” energy usage, etc. – have increased that sense, or maybe it is mostly a lack of understanding of AI as a new tool. According to Swiss Re, in March 2025, consumers trusted banks 50%, health companies 46%, and insurers 39%. I wonder, generally, how well do your insurance customers trust you, or the insurance industry. Why? Can it be improved? Doug Grant, CIP Partner Insurance-Canada.ca