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JULY 4, 2017

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INSURANCE INDUSTRY NEWS

Financial Institutions Ramp Up ‘Change Programs’
More than half of financial institutions plan to increase their investments in major corporate transformation initiatives over the next 12 months, due to cost pressures, new regulations, increased customer expectations and digital disruption, according to an Accenture survey of executives. Read more.

The ‘Chain Of Trust’ Could Transform Insurance
Some of the First Mover Insurers (“Trialblazers”) are looking to blockchain to help drive their wider transformation agenda. They see blockchain as an opportunity to improve efficiency, lower costs, enhance the customer experience, improve data quality, increase trust, and more. Read more.

Kanetix Launches Insurance Quote, Mortgage Rate Comparison With Google Home
Now that Google Home is available in Canada, Kanetix Ltd. is making it even easier for consumers to compare insurance quotes and mortgage rates using voice-activated technology. Read more.

RV Direct Insurance Launches Web-Chat Enhancement
RV Direct Insurance is pleased to introduce MIKE (My Insurance Kept Easy), the next generation of quote and bind technology available to customers, which adds the support of an online chat to enhance the customer experience. Read more.

AIR Worldwide Announces Crop Hail Model
Catastrophe risk modeling firm AIR Worldwide has released its Crop Hail Model for Canada to give stakeholders across the crop insurance value chain a probabilistic view of crop hail risk in Canada. Read more.

PROLINK Partners With Keal SIG Solutions
Keal Technology is pleased to announce that LMS PROLINK Ltd., one of Canada's fastest growing brokerages, has selected Keal's SIG platform to manage its operations and future growth. Read more.

Munich Re Partners With PEF To Contain Pandemics
Munich Re has joined forces with the World Bank, the World Health Organization and other financial sector companies to create the Pandemic Emergency Financing Facility (PEF), the first insurance solution to fight dangerous epidemics and pandemics in developing countries. Read more.

Gore Mutual To Acquire Howard Noble
Gore Mutual Insurance Company has agreed to acquire Howard Noble Insurance Limited, a leading regional broker in Georgian Bay and Simcoe County. Read more.

Guardian Selects EIS Group Software Suite
The Guardian Life Insurance Company of America, one of the largest mutual life insurers in the U.S., has selected the EIS Suite™ as the new core systems solution for Guardian's direct-to-consumer business. Read more.

Appoint A Digital Leader To Survive Transformation
Nineteen percent of the world's top 2,500 companies have appointed a Chief Digital Officer to oversee the digital transformation of their business, according to a new study from Strategy&, PwC's strategy consulting business. Though this number might seem modest, it more than tripled last year's percentage. Read more.

Disruption Brings Opportunities And Risks To The Middle Market: Capital One Study
Most executives of middle-market companies expect and welcome disruption, but only a small portion are fully prepared for the possible consequences, according to a new report by Capital One Commercial Bank. Read more.

Canadians Overestimate Their Financial Literacy
More than three-quarters of Canadians believe they are financially literate, but when tested on their knowledge with a series of questions, more than half failed to make the grade, according to a new survey commissioned by LowestRates.ca. Read more.

Saskatchewan Seatbelt Law Turns 40
Saskatchewan was the third province in Canada to mandate seatbelts, following Ontario and Quebec, which introduced the law the year before. In the intervening 40 years, this legislation has saved thousands of lives. Read more.


The Intersection: Insurance-Canada.ca Blog

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

Claims 2017: Distinctly Driving Digital
I suggested previously that claims and risk management are taking a prominent place in digital transformations. Here, I will describe potential impacts and possible time frames.
Read more.


“Insurance: Connected”
ICEF2017: 'Insurance: Connected' - 5th annual Executive Forum - August 29, 2017
Tuesday, August 29, in Toronto

In order to achieve a rewarding customer experience, insurers have to move beyond technical excellence in claims handling.

Against a backdrop of steady technological progress and disruption – which today permits self-reporting via smart phone, remote assessment via drone, and more – organizations must anticipate the demands and possibilities of tomorrow as A.I. and cognitive computing continue to gain traction in insurance.

Pat Van Bakel, President & CEO of Crawford Canada, will address “The Future of Claims: Disrupt or Be Disrupted” at our fifth annual Executive Forum.

Register now or learn more.



From Doug

I have had the good fortune to see a great deal of Canada. In my teens, my family toured the east, north and west coasts. Later, I was president of a national heritage group, which took me across the country more than once.

And although my wife and I have made travel a priority, it has been mostly international.

This week brings a new adventure – a week-long canoe trip through the Yukon with a dozen extended family members.

The Canada 150 weekend has passed; I hope you enjoyed the festivities. There is so much to celebrate, and no end of things to see and do in this great country.

Doug Grant, CIP
Partner
Insurance-Canada.ca

Doug Grant

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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