INSURANCE INDUSTRY NEWS

Four Scenarios For Human-AI Work Collaboration
The pervasive use of AI is forcing business and IT leaders to rethink their workforce. Executive leaders must develop four scenarios where human and AI can collaborate effectively, according to Gartner, Inc. Read more.

Aon Launches Claims Copilot For Better Client Outcomes
Aon is pleased to announce the launch of Aon Claims Copilot, an integrated digital platform designed to enhance client outcomes through advanced analytics, automation, globally consistent claims management and the specialized expertise of Aon's claims advocates. Read more.

Accenture Invests In Lyzr To Bring Agentic AI To Banking, Insurance Companies
Accenture is investing in Lyzr, an AI company that has developed a full-stack enterprise agent infrastructure platform, to bring agentic AI to banking, insurance and financial services companies. Read more.

How To Prepare For Top Winter Home Claims
With colder, wetter months ahead, BCAA is urging homeowners to act now to prepare their homes. Citing claims data that highlights a significant increase in weather-related damage during fall and winter; BCAA recommends taking proactive steps now to help people safeguard their homes and avoid costly repairs. Read more.

KPMG Launches New Agentic AI Offering
KPMG is pleased to announce the launch of Global Business Services with KPMG Velocity, a new agentic AI offering designed to improve operational productivity of corporate functions. Enabled by the ServiceNow AI Platform, this innovative solution helps to streamline operational workflows across finance, procurement, human resources and IT. Read more.

Essity, Accenture, Microsoft Collaborate To Accelerate Adoption Of AI Agents
Essity has selected Accenture and Microsoft to help it accelerate the use of AI agents to unlock value and drive efficiencies and growth through improved business agility. Read more.

How MGAs Are Accelerating Growth, Innovation
Majesco is pleased to announce the release of the second annual MGA research report, which underscores how MGAs are fortifying their role in the insurance ecosystem by offering insurers, reinsurers, and investors a unique combination of speed, specialization, scalable and profitable opportunity. Read more.

Navacord Consolidates Broker Partners
Marking a significant step in its transformation into a unified national presence, Navacord Corp., one of Canada's largest and fastest-growing multi-line insurance brokerages and financial services firms, has officially rebranded six of its Broker Partners under the Navacord banner, effective November 1st. Read more.

Beneva Launches Free Offering For Sustainable, Resilient Reconstruction
Beneva is pleased to announce the launch of the “Rebuild Better” advantage, a free offering that enables policyholders to rebuild in a more sustainable way after a loss by integrating eco-responsible principles into home insurance claims practices. Read more.

Managing Rising Risks: Climate-Resilient Shorelines
As coastal communities face increasing risks of flooding and erosion due to climate change, a new report from the Intact Climate Centre provides a practical framework for developing Regional Shoreline Management Plans that integrate science, policy, and local priorities. Read more.

Ransomware Attacks Set To Surge This Year
Ransomware attacks are set to escalate sharply, with the number of ransomware victims publicly named on leak sites expected to rise from 5,010 in 2024 to more than 7,000 by the end of 2026, according to the latest report from QBE. Read more.

Technology Resilience Powering Innovation
Deloitte Canada is proud to announce the 28th cohort of its Technology Fast 50 program, which recognizes the world-class achievements of Canada's top technology companies, highlighting their resilience, entrepreneurial spirit, and commitment to innovation. Read more.

OncoHelix, Desjardins Partners To Expand Access To Advanced Cancer Diagnostics
OncoHelix and Desjardins Insurance have partnered to increasing Canadians' access to advanced cancer diagnostics. Through Desjardins' Cancer Care Focus Initiative, eligible group members and their dependents will now have access to OncoHelix's comprehensive cancer genomic profiling tests. Read more.

BMO Insurance Joins Forces With Trupanion
BMO Insurance and Trupanion, the leading provider of medical insurance for cats and dogs in Canada, are pleased to announce a partnership to expand access to trusted, high-quality pet health coverage for Canadian pet owners. Read more.

Trupanion, Canadian Kennel Club Reaffirm Alliance
Trupanion and the Canadian Kennel Club are excited to announce a renewed partnership after three years of successfully providing comprehensive pet health coverage to new litters and pet parents across Canada. Read more.

In the InsurTech Spotlight this week:

LowestRates.ca
More Canadians start their search for insurance on LowestRates.ca than on any other website in Canada. LowestRates.ca helps consumers make smart financial decisions by offering industry-leading quoters that compare the insurance market for them. That allows us to generate high quality new business leads for our insurance partners. Learn more.

Calling all InsurTechs! Click here to participate.

Featured job opportunities:

Senior Underwriter (Personal Auto & Property)
SGI
Toronto, ON

Accident Benefits Adjuster
Crawford & Company (Canada) Inc.
Calgary, AB

From Doug The Risks That Come With New Technology In the early days of the Internet, the question arose: What about online security? This was long before “cyber security” became a common term, and insurance businesses wondered how to position this risk within existing insurance products and whether to develop new ones. Today, the global cybersecurity market is valued at approximately USD $219-228 billion, with a projected growth rate (CAGR) of 9-15%. Cyber insurance itself is a growing business, totalling roughly USD $15-20 billion in 2024, and within Canada around CAD $300-350 million in 2024. Worldwide, approximately 5.5 million people work in cyber security, including an estimated 124,000 in Canada. In comparison, artificial intelligence is dramatically bigger and its scope broader. But from an insurable risk perspective, it may be early days, with some now writing in AI risk exclusions. The global AI business is projected to have a market size of USD $370 billion to $750 billion or more in 2025, and in Canada, over CAD $11 billion. How is it priced? As insurance businesses test the waters and dip their toes into AI – especially Gen AI, AI agents and Agentic AI – how are they (you) managing the associated risks? Doug Grant, CIP Partner Insurance-Canada.ca