Insurance-Canada.ca - Where insurance and technology meet

AUGUST 9, 2016

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INSURANCE INDUSTRY NEWS

Aviva Canada to Offer 3-in-1 Solution For Claims, Loss Prevention
Aviva Canada has launched its Home Protect Bundle product to help Canadian homeowners prevent claims from reoccurring and repair damages before a claim occurs, with unlimited professional assistance. Read more.

Execs Optimistic About IoT, But Questions Remain
Most business executives worldwide feel that the Internet of Things will have a significant impact on business outcomes. But there is still confusion surrounding the IoT concept. Read more.

Biggest Investor Sentiment Jump in Five Years
Manulife's Investor Sentiment Index has experienced the largest increase since 2011, indicating Canadians' confidence in nearly all investment types increased, with the largest spikes in stocks and fixed income. Read more.

Autonomous Vehicles Will Disrupt Many Industries
Borden Ladner Gervais LLP is pleased to release Autonomous Vehicles: Revolutionizing Our World, its report on the significant legal implications of driverless cars. Read more.

Manulife Partners With Nervana Systems On A.I.
Manulife's Lab of Forward Thinking (LOFT) is collaborating with Nervana Systems to develop an artificial intelligence and deep learning tool to analyze the high volume of information and documents that portfolio managers receive each day when researching investments. Read more.

Retiring soon? New Web Resource Now Available
Canadians planning to retire within the next year or so now have access to a new, one-stop resource that will help to answer some of their key questions as they prepare to leave the workforce. Read more.

A comeback for mutual insurance?
The mutual insurance sector has undergone a modest recovery in recent years, reversing some of the declines of previous decades, says Swiss Re's latest sigma report. Read more.

Totten Acquires Canadian Resources Insurance Solutions
Totten Insurance Group has announced that it has acquired the shares of Sudbury-based insurance wholesaler Canadian Resources Insurance Solutions, Inc., expanding Totten's footprint in the Canadian marketplace. Read more.

Guidewire to Acquire FirstBest Systems
Guidewire Software, Inc. and FirstBest Systems, Inc. have entered into a definitive agreement for Guidewire to acquire FirstBest. Read more.

Broker Committed to Channel Purchases Independent Firm
On July 29, 2016, Lackner McLennan Insurance Ltd. acquired Erb and Erb Insurance Brokers Ltd. Read more.

AGCS Launches Cyber & Professional Liability Coverage
Allianz Global Corporate & Specialty is introducing its next-generation cyber and professional liability coverage product, ACCEPT Protect®, designed exclusively for the North American market. Read more.

The Emerging Architecture of the Internet of Things
In a new report, Celent describes the concerns and capabilities related to embedding the Internet of Things into an insurer's architecture. Read more.

Novarica: Opportunities for High-Net-Worth Differentiation
High-net-worth and ultra-high-net-worth clients have unique, complex needs that can't be served by traditional mass-market independent agent writers and direct carriers. Read more.

ERIS & OPTA Partner On Fire Insurance Map Collection
Ecolog Environmental Risk Information Services and OPTA Intelligence have formed a partnership to create the best fire insurance map collection nationwide. Read more.

Sun Life Financial Expands Into Digital Health
Sun Life Financial has launched a new business area. Digital Health Solutions will be led by Chris Denys, Senior Vice-President of Possibilities Read more.

EIS Group Enhances Digital Experience Platform
EIS Group has announced significant enhancements to the company's digital experience platform, CustomerCore DXP™, for omnichannel interaction and digital solution management. Read more.

Nearly 40 Percent of Enterprises Hit by Ransomware
Malwarebytes, the leading advanced malware prevention and remediation solution, has released new findings on the growing threat to companies from ransomware Read more.

Finaccord: Professional Indemnity (Liability) Insurance
The global market for professional indemnity (liability) insurance was worth around USD 36.2 billion in gross written premiums in 2015 with more than half (53.4%) of this due to the United States. Read more.

Zika virus precautions advised for Olympic visitors
Allianz Global Assistance urges Canadians travelling to the Rio Olympic and Paralympic Games to take “sensible precautions” against Zika virus Read more.

ENCON Launches Sports and Recreation Program
ENCON Group Inc. has announced the launch of a new Sports, Leisure and Recreation program that protects owners and operators against a variety of liability risks. Read more.

IBC: Be Prepared For Severe Summer Weather
Insurance Bureau of Canada is reminding Canadians to be aware and take action to prepare for potentially damaging storms. Read more.

Friday Worst Day For Long Weekend Road Deaths
More than one third of all holiday long weekend road deaths and injuries occur on the Friday, according to claims data collected by Manitoba's public auto insurer. Read more.

Sask. Police Target Commercial Vehicle Safety
#ShareTheRoad Saskatchewan: commercial vehicle safety is the province-wide traffic safety spotlight for the month of August. Read more.

What's going through the Intersection
of insurance and technology?

On Robotics and Muddling Through
While reviewing material on the benefits and challenges of implementing omnichannel communications, I came across a new (to me) approach to introducing robotics into existing processes. I am a big fan of “muddling through,” and this approach seems to offer help to organizations which are looking for a starting point to the digital world.
Read more.

Share Your Views on Innovation and Emerging Technologies in Insurance

Share your views in the annual Strategy Meets Action research study on emerging technologies and innovation in insurance. The study will address progress and plans for innovation, as well as key emerging technologies, including autonomous vehicles, wearables, drones, A.I., and the Internet of Things.

Take the survey now and include your contact information for a chance to win a Smart Home Hub. If there are sufficient responses, results will feature a breakout of the Canadian data.

Featured Job Opportunities

Data Architect
Cambridge, Ontario
We are looking for a Data Architect who can innovate and collaborate with business partners to provide a long-term strategy for data architecture and standards. Minimum 7 years' experience required. If you are looking to join a team of innovative and dynamic IT professionals, we would love to hear from you.
More details.

Featured at:

“Turning Insurance Outside-In”
4th Annual Executive Forum

Learn how Digital Product, Omnichannel, Predictive Analytics and Automated Operations are four of the keys to "Preparing Insurers for the Digital Century" by Anton Tomic, VP of Global Industry Strategy and Transformation, SAP

Join your peers on Tuesday, August 30 at the 2016 Insurance-Canada.ca Executive Forum; learn from the thought leadership of the speakers, and also from sponsors including:

eSignLive by VASCO, a silver sponsor for the Executive Forum, is an electronic signature solution used by eight of the top 15 insurance carriers in North America to support digital transformation.

From Doug

Following the naming of a few new industry leaders, last week was about mergers and acquisitions in the insurance business – and software providers too.

Innovation has become really hot. Watching the announcements from Manulife and SunLife is energizing.

In southern Ontario, it has been quite a summer – lots of sun and heat. And the Olympics are luring me in – even more than I wanted. Go Canada! What more could you ask for - excitement everywhere.

Doug Grant, CIP
Partner
Insurance-Canada.ca

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