Insurance-Canada.ca - Where insurance and technology meet

OCTOBER 3, 2017

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INSURANCE INDUSTRY NEWS

Half Of U.S. Businesses Have Been Hacked
More than half of U.S. businesses have experienced a cyber attack in the past year, according to a new survey of executives by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re. Read more.

InsureTechs Don't Directly Threaten Insurers
Industry buzz over InsureTech is mostly directed toward innovators and investors. This neglects two basic questions for any insurer looking to make sense of InsureTech: Does this matter to my company, and what can we learn from it? Read more.

Cyber Risks and Opportunities: Fitch Ratings
Cyber insurance has been a profitable business line for early market entrants and is a rapid growth segment, with global premium volume set to increase six- to eightfold within a decade, according to a new report from Fitch Ratings. Read more.

ISI Revolutionizes Insurance Buying Experience
Insurance Supermarket Inc. is excited to announce a new program, the unique iAgent platform, that will simplify access to life insurance for all Canadians. Read more.

aha insurance Launches Auto In Ontario
Ignite Insurance and Ignite Holdings are very proud to announce that aha insurance, the revolutionary online auto and home insurance service, is now available for the auto insurance market in the province of Ontario. Read more.

Guidewire, Salesforce Partner On P&C CRM
Guidewire Software has announced it is teaming with Salesforce to bring to market a new solution to deliver CRM optimized for the unique needs of P&C insurance. Read more.

Canadians Losing Millions In Online Scams
In 2016, Canadians lost CAD 40 million due to online scams. Online security breaches and identity theft are on the rise, which is why Aviva Canada is educating people on how to protect themselves and their families. Read more.

Life & Health Coverage Grew in 2016
The Canadian Life and Health Insurance Association has released its annual "factbook" on Life and Health Insurance, revealing the industry continues to experience growth in both life and health insurance products. Read more.

Flood Resilience Best Practices Identified
New research from the University of Waterloo, funded by the Standards Council of Canada (SCC) and conducted by the Intact Centre on Climate Adaptation, identifies 20 best practices to design and build new residential communities that are more flood-resilient. Read more.

belairdirect Launches Safe Driving App
belairdirect is launching a new app in Alberta and British Columbia called automerit, which assesses customers' driving skills, helping them save on their insurance premiums while providing valuable insight into their driving habits. Read more.

Sun Life Launches Facebook ‘Workplace’
Sun Life Financial has launched Workplace by Facebook, a communications platform that connects the global enterprise with familiar tools to increase collaboration and productivity. Read more.

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

Dissecting Digital Dimensions:
There is a Plan ... Sort of ...
Digital technologies are driving new opportunities for insurers, brokers, and insurtechs – offering streamlined workflows, processes, and intelligent assistants. In some instances, digital alters the insurance product. Read more.

November 6, 2017 – Westin Harbour Castle

The first independent InsurTech event to hit Toronto will include a fascinating look at how the C-suite is creating a culture of innovation to rapidly modernize, to better compete with agile new insurtechs!

Save on tickets with early-bird rates until Oct.13!

For complete details and registration, visit www.insurance-canada.ca/insurtechto

We are hosting a FREE webinar preview Oct.18: InsurTechTO: Canadian Perspectives, Eh?

From Doug In Bhutan

This week we have been privileged to visit Bhutan, which until a generation or two ago was closed to the outside world.

This fascinating Buddhist country has a monarchy headed by a king who is is equal in status to the country's spiritual leader, the Chief Abbott.

The King has been a leader in developing the country, bringing social benefits such as free healthcare – but there is little welfare, and elderly care is a family responsibility.

I am not sure about the state of P&C or L&H insurance, but it would be a challenge, given the mountainous terrain and twisty, narrow roads, the rapidly growing population and even faster-increasing number of vehicles, all compounded by struggling infrastructure.

Yet everyone has a smart phone. In that sense perhaps they are ahead of us.

Doug Grant, CIP
Partner
Insurance-Canada.ca

The Chronicle weekly newsletter features news, events, and general information relating to insurance, technology, and innovation in the Canadian insurance industry and the marketplace. Subscribe here or view past issues.

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