INSURANCE INDUSTRY NEWS

Foxquilt Completes Series B Fundraising Round
Foxquilt, a leading North American insurance technology company specializing in small business and micro-enterprise markets, is pleased to announce a successful raise of $12M with participation from both existing and new investors. Read more.

Betterview, EagleView Launch Strategic Property Intelligence Alliance
Betterview and EagleView are pleased to announce a strategic alliance under which EagleView's imagery will be integrated into Betterview's property intelligence platform, providing broader, data-driven intelligence to help insurers better understand a customer's total property risk. Read more.

Sun Life Announces Dialogue Acquisition
Sun Life Financial Inc. has announced it has entered into an agreement to indirectly acquire all of the outstanding common shares of Dialogue Health Technologies Inc., Canada's leading integrated health platform. Dialogue's executive management will maintain a minority interest in Dialogue following closing. Read more.

Acera Insurance Partners With Rushton Agencies
Acera Insurance Services Ltd. is pleased to announce it has partnered with Rushton Agencies Ltd., a trusted independent brokerage based in Stettler, AB. This transaction expands Acera Insurance's operations in central Alberta. Read more.

Westland Acquires Andrew Agencies Ltd.
Westland Insurance, one of Canada's largest independently-owned brokerages, is pleased to announce that it has acquired Andrew Agencies Ltd., extending its reach in central Canada. Read more.

SIB Expands Presence In Ontario With Two Additions
SIB Corp. is pleased to announce it has expanded its Partner Network in Ontario through new partnerships with McCulloch Insurance (1951) Ltd. and Delbert R. Smith Insurance Brokers Ltd. Read more.

IPFS, Vertafore Partner To Enhance Insurance Services
Imperial PFS Canada, a leading provider of premium finance services, is pleased to announce a strategic partnership with Vertafore Canada, a leading provider of insurance management software solutions, aimed at enhancing insurance services for clients across Canada. Read more.

Zurich Launches Cyber Policy Concierge Suite
Zurich North America has introduced a cyber insurance offering designed specifically for middle market businesses, featuring cyber insurance coverage along with loss-prevention and resilience services such as a breach coach and a 24/7 cybersecurity hotline. Read more.

Intact Publishes Q2 Catastrophe Loss Estimate
Intact Financial Corporation has announced the estimated catastrophe losses for the second quarter of 2023 and provided a breakdown of the catastrophe losses by reporting segment. Read more.

Gallagher Re Nat Cat Report: H1 2023
US thunderstorms and global impacts from El Niño's arrival drive above-average natural catastrophe insured losses through the first half of the year, while wildfires in Canada have burned the greatest land area since at least 1959, according to Gallagher Re's 2023 H1 Natural Catastrophe Report. Read more.

ARS Launches AI-Based Crop Insurance For Farmers In Collaboration With Definity
Agi3 Risk Services Ltd. is pleased to announce the launch of AgriEnhance™, an exclusive AI-powered crop insurance solution to improve the way farmers protect their crops, in collaboration with Definity Insurance Company, through its brand Economical Insurance. Read more.

WTW Revolutionizes Property Broking With Climate Data Analytics
Changing the property renewals and property propositions to include climate data is essential to optimizing clients' risk portfolios, says WTW, a leading global advisory, broking, and solutions company. Read more.

Swiss Re Structures Blackstone's First Indemnity Catastrophe Bond
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked securities issued with respect to certain real estate funds managed or controlled by affiliates of Blackstone Inc. under Wrigley Re Ltd. The transaction is Blackstone's first indemnity catastrophe bond and covers named storms and earthquakes in the U.S. and Canada. Read more.

Is Employee Wellbeing A Human Right?
A new survey commissioned by First Onsite Property Restoration examines Canadians' perceptions, hopes and desires regarding the ever-evolving workplace, finding that people are seeking more intrinsic value and greater sense of purpose in their work than before the pandemic. Read more.

Canadians Turn Away From Brands To Improve Affordability: EY Survey
The EY Future Consumer Index Survey reveals that almost half of Canadian consumers are turning away from brands in search of affordability, while more than half are taking action to reduce spending in many areas of their lives deemed non-essential. Read more.

Streamlining Property Restoration Claims Adjusting & Preventing Fraud
Webinar – Wednesday, August 2

RocketPlan's innovative approach to disaster restoration claims management focuses on reducing the entire claims cycle with a mobile-first, user-friendly platform.

Users capture data on the go, share documentation in real-time, automate reports, and sync to the desktop app. The all-in-one software-as-a-service tool eliminates the need for multiple platforms.

CEO and Founder Joe Tolzmann will share how RocketPlan creates transparency for the restoration company, insurance adjuster, estimator, independent adjuster, project manager, insurance carrier, and property owners by providing a single place for all their relevant and actionable information.

Register now or learn more about the webinar.

In the InsurTech Spotlight this week:

Foxquilt
Foxquilt is a leading North American insurance technology company focused on providing small businesses insurance. Foxquilt develops, underwrites, and distributes a complete line of its own commercial insurance products in the United States and Canada. The company uses a combination of data analytics and artificial intelligence to recommend the best insurance coverage and price to meet the individual needs of its small business customers through brokers/agents, affinity partners, as well as directly to consumers. Learn more.

Calling all InsurTechs! Click here to participate.

From Doug InsurTech innovation in Canada is alive and well. Innovation is not new. But today is different; there seems to be more and it is happening faster. Why is that? Technology is much less expensive, easier to develop and easier to use. Financing (VC and other) is more readily available, with lower interest rates. The early InsurTech revolution showed that it could be done. Personal preference – more people are willing to "just try it". Information is so much more broadly available, and often shared, making research, development and marketing easier and quicker. Every aspect of insurance is being touched. Three current startup examples from the InsurTech Spotlight, each with a recent or upcoming webinar available for replay illustrates some of the breadth: Samos Insur offers the world's first on-demand accidental death insurance for surgical procedures. Instant Risk Coverage is an MGA offering on-demand solutions built to support the needs of venues, professionals and their clients. RocketPlan Technologies is a technology provider with a Mobile-first SaaS platform for insurance professionals processing property restoration claims. This tiny sample represents the innovation across the Canadian insurance industry. Change is in the air; no end is in sight. Doug Grant, CIP Partner Insurance-Canada.ca