INSURANCE INDUSTRY NEWS

The Future of Personal Lines Auto Insurance Through Telematics
Technology developments in the last few years have led to new types of devices generating more telematics data and at a lower price point. Carriers not taking advantage of all that this technology has to offer will quickly fall behind their competition. Aite Group's latest report explores the major telematics features affecting the underwriting and claims process. Read more.

AXA XL, Slice Labs & Microsoft Team Up To Improve Cyber Risk Management
AXA XL, Slice Labs Inc., and Microsoft have announced they are teaming up to help improve cyber health and mitigate risks for Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers. The new relationship will give qualifying customers discounted access to Slice on-demand, cloud-based cyber insurance provided by AXA XL. Read more.

FRISS, NICB Enter Strategic Partnership
FRISS, a company dedicated to combating insurance fraud using innovative IT software, and the National Insurance Crime Bureau, a not-for-profit organization dedicated exclusively to fighting insurance fraud and theft, have entered a strategic partnership. Read more.

CapriCMW Partners With Rogers Insurance
CapriCMW has made a substantial equity investment in Rogers Insurance and is now one of their largest shareholders. CapriCMW and Rogers Insurance have been working closely together for over 15 years within the Canadian Broker Network, and this is the next stage of the CBN's new business plan to achieve scale and additional capabilities by aligning the two companies further. Read more.

Global Travel To Transform By 2040: Report
By the year 2040, international travel will be a faster, easier and more ecologically sustainable activity than ever before and also a far richer experience, according to a new report from Allianz Partners, authored by renowned futurologist Ray Hammond and launched as part of a series on The World in 2040. Read more.

Canadian Economy Balancing Between Growth And Stagnation
RSM Canada, the leading global provider of audit, tax and consulting services focused on middle market businesses, has launched its latest The Real Economy report, shining a light on what's in store for Canada's economy in 2020, exploring potential opportunities for the country's growth next year, and highlighting some of the main geopolitical and industry headwinds that could slow the economy. Read more.

Brown & Brown To Acquire Special Risk
Brown & Brown, Inc. is pleased to announce that Brown & Brown Programs (CA), Inc. has entered into an agreement to acquire the assets of Special Risk Insurance Managers, Ltd. The transaction is expected to close effective January 1, 2020, subject to certain closing conditions. Read more.

Navacord Expands Group Employee Benefits Book
Navacord Corp., a leading Canadian insurance and risk management brokerage, is pleased to announce the addition of Ontario-based SmartChoice Benefits Inc., effective December 12. Read more.

Applied Analytics Adoption Surges
Applied Systems is pleased to announce that the number of bookings for Applied Analytics® in the North American market has increased by 86 percent year over year. The increase in users continues as Applied Analytics enables agents to make more informed business decisions based on data-driven insights. Read more.

HR In The Fourth Industrial Revolution
A new study, titled HR 4.0: Shaping People Strategies in the Fourth Industrial Revolution, reveals key strategies for business leaders and human resource executives to manage people and work, drawing upon consultations with chief human resources officers and experts to identify emerging challenges arising from the future of work and a range of potential interventions to address them. Read more.

Modern Technologies Could Save Financial Services Billions
Financial services companies in North America could unlock billions in productivity gains and cost savings by 2025 if they employ new technologies that help improve the efficiency and effectiveness of their workforces, according to a new study by Accenture which shows that disruptive technologies will change the shape of the financial services workforce over the coming years. Read more.

CAMIC Supports Commercial Lines Data Standards
CSIO has received overwhelming support from the Canadian Association of Mutual Insurance Companies for the recent advancements made by the Commercial Lines Working Group. Recognizing the importance of Commercial Lines Data Standards, many mutual members have prioritized their implementation in order to support the automation and digitization of underwriting and rating processes. Read more.

FSRA Advisory Over Unlicensed Agents
The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that Muhammad Bajwa and Husain Trunkwala are not licensed to conduct insurance business in Ontario, and Refinance Hotline is not licensed to conduct mortgage business in Ontario. Read more.

Do You Know Your (Travel) Rights?
More than half of Canadians still don't know they have new rights as air travellers, according to new research by the Canadian Automobile Association (CAA). Nearly six months ago, the Government of Canada announced the first phase of an air passenger rights regime that includes compensation for being bumped, for lost or damaged baggage, and a requirement for airlines to be clear with travellers about their rights. Read more.

iA Financial Group Goes Carbon Neutral
iA Financial Group is pleased to announce its commitment to offsetting its greenhouse gas (GHG) emissions through the purchase of carbon credits. Beginning in 2020, the company will work to become carbon neutral. Read more.

SGI Launches Improved Safe Ride App
Looking for a safe ride home? Let the updated SGI Safe Ride app be your wingman. The SGI Safe Ride app allows users to have a number of safe ride options right at their fingertips, including rideshare information, taxi and designated driving companies, bus routes, and their own personal designated drivers list of friends and family. Read more.

Out-of-Country Medical Coverage Changing
As the busy holiday travel season approaches, Orion Travel Insurance, is reminding Ontario travellers to take a closer look at their travel and medical insurance coverage. Starting January 1, 2020, OHIP will no longer cover any portion of out of country medical expenses. Read more.

“20/20 Foresight:
Keys To Success in a Dynamic World”

Feb. 25-26, 2020, in Toronto

Join us at ICTC2020 and hear from industry experts on key topics, including:

Data & Advanced Analytics For A New Decade
• Marty Ellingsworth, Senior Analyst, Celent

Three Keys to Innovation Success
• Julia Bloom, Founder, Bloom Innovation Consulting

Leveraging Third-Party Data for Marketing, Underwriting and Claims
• Eric Weisburg, Vice President - Research and Consulting, Novarica

The Evolution of Innovation
• David Arbuthnot, Director - Innovation Outpost, Wawanesa Insurance

Sponsorship opportunities are available now – choose what suits your needs and your budget.

Mark your calendar now for Feb. 25-26, 2020:

Visit insurance-canada.ca/ictc for more information.

The Broker’s Workstation (TBW) features real-time rating and data exchange for faster, more effective quoting. How does your BMS compare?

Learn more about our real-time broker and MGA products from Custom Software Solutions.

Featured job opportunities:

Insurance Broker
Stan Darling Insurance Inc.
Gravenhurst, ON

Data Analyst
Canadian Broker Network
Toronto, ON

From Doug It's the end of a season, a year, and a decade. Time sure flies! This is our final issue of the Chronicle newsletter for 2019. Looking back, our technology conference ICTC2019 and executive forum ICEF2019 were our main events of the year. A new venture, the InsurTech Spotlight, kicked off in April; it continues to grow. The biggest change this year for us involved one of the ‘founding fathers’ of Insurance-Canada.ca. Patrick Vice, whom many of you know from a variety of roles in the industry since the mid-’80s, posited in late 1993 that the emerging Internet might have legs. Five of us formed Insurance-Canada.ca. With a website and a passion for sharing information about the business use of technology, the company – like the website – has grown and evolved. Patrick has now retired, but continues to contribute periodic blog posts and join us at events. We thank Patrick for his contributions, his leadership and his friendship all the way along. We are keeping busy organizing ICTC2020, our first event in the new decade. Don't miss it! To all our readers, enjoy the family and community events associated with your traditions and with the turning of the year. We look forward to sharing more with you in 2020 – Happy New Year! Doug Grant, CIP Partner Insurance-Canada.ca