INSURANCE INDUSTRY NEWS

Robust Economy Set To Drive Insurance Growth
Geopolitical tensions and inflation have led to economic concerns, but Swiss Re Institute's annual World Insurance sigma report finds that the global economy has remained remarkably resilient, setting the scene for growth and improved profitability across the insurance industry. Read more.

CEOs Rank AI As Highest-Impact Technology
A new survey by Gartner reveals that nearly two-thirds of CFOs and more than half of CEOs believe that AI will have the most significant impact on their industries in the next three years. Read more.

Priceline Partners With Cover Genius On Embedded Travel Protection
Priceline, the iconic innovator of online travel, and Cover Genius, the insurtech for embedded protection, are pleased to announce a new North American partnership to introduce enhanced travel protection for flights, hotels, rental cars and packages booked with Priceline. Read more.

Equisoft, Life Design Analysis Announce Strategic Partnership
Equisoft is pleased to announce a new partnership with Life Design Analysis, a cloud-based sales and productivity solution for advisors and MGAs, to empower financial advisors and MGAs to deliver customized solutions to their clients. Read more.

CSIO’s My Proof Of Insurance Enhanced Features Now Available
Responding to industry and customer demands, CSIO continues to add new features. With the latest Android release, MPOI users can now use the Google Wallet to store their eSlips sent via MPOI without downloading a third-party app. Read more.

Canadians Can Now Start Their Collision Reports Online
Accident Support Services International is proud to announce “Start From Home” – the next phase to collision reporting. When citizens have been involved in a collision that meets the threshold to attend a Collision Reporting Centre (CRC), they can now start the process online from their own device. Read more.

Auto Theft Crisis: Early Signs Of Progress
équité Association, the national authority on insurance crime, is pleased to announce the release of its First Half of 2024 Auto Theft Trend Report. Read more.

BrokerLink Completes Double Acquisition In GTA
BrokerLink continues its steady pace in the acquisition space, welcoming William C. Aitken Insurance Limited, effective June 1st, and Louis Meier Insurance Brokers Ltd., effective July 1st. Read more.

Acera Insurance Expands To Atlantic Canada
Acera Insurance Services Ltd. is pleased to announce its newest partner, Jacobi Brien Insurance of Nova Scotia. This deal marks Acera Insurance's first location in Atlantic Canada, officially expanding the independent brokerage's footprint from coast to coast to coast. Read more.

Accenture Expands Silicon Design, Engineering Capabilities With Dual Acquisition
Accenture is pleased to announce it has acquired Excelmax Technologies, an India-based semiconductor design services provider, and Cientra, a silicon design and engineering services company offering custom silicon solutions for global clients. The acquisitions further enhance Accenture’s growing silicon design and engineering capabilities. Terms of the transactions were not disclosed. Read more.

Featured job opportunities:

Financial Security Advisor, Insurance
RBC
Montreal, QC

Case Manager
WorkSafeBC
Burnaby, BC

In the InsurTech Spotlight this week:

Talem AI
Talem Health Analytics is an AI-driven claims management company, providing injury causation solutions for automotive insurers. Talem specializes in early insight of injury and connecting the right injury to medical necessity and appropriate billing for a connected, streamlined, and value-based approach to care. Learn more.

Calling all InsurTechs! Click here to participate.

From Doug The digital ecosystem is expanding. Since the commercial Internet arrived, growth and innovative functions have thrived. A personal example from booking a North American river cruise for the fall: The cruise package includes basic airfare. An email suggested we review our basic flight arrangements made by the cruise company, with details included seat assignments, and the functionality to upgrade seats, indicate food preferences, and more. Unexpectedly, we could change flights, and even airlines. A list of to and from flight pairings (78 were presented for this trip) showed availability and cost differential, with search filters and individual flight details available. We opted for a different airline with later departure and selected seats using the airline's seat map – all presented within the cruise company's interface. For the upgrade, we could pay by credit card, or by bank transfer for savings equivalent to the credit card fees. I was impressed by the functionality of this flight management app. The benefits to the cruise company are obvious, with no human/manual intervention required, and I benefitted as well from being able to explore options as slowly and deeply as I wished; I can still make further changes until ticketed. About embedded insurance, more next week, and at ICEF2024, an in-depth discussion. Doug Grant, CIP Partner Insurance-Canada.ca