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Making embedded insurance more customer-centric

March 6, 2024 by Alyssa DiSabatino

No two insurance policies are the same, and that extends to the way carriers deliver their embedded insurance models, one expert told the Insurance Canada Technology Forum.  But before capitalizing on this latest digital sales opportunity, insurers must guarantee their

Wildfire in Halifax
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Should the industry incentivize wildfire mitigation?

February 8, 2024 by Alyssa DiSabatino

For the insurance industry, Canada’s record-breaking wildfire season should raise the question: Can we blame people for where they live?  Amid mounting wildfire risk, consumers need incentives from their insurers to apply retrofits that can protect their house from fire

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Insurtech funding slumps in 2023

February 1, 2024 by Alyssa DiSabatino

Global insurtech funding dropped 43.7% year over year to the lowest level since 2018, according to a new report by Gallagher Re. Funding went from US$8.0 billion in 2022 to US$4.51 billion in 2023, according to the Global InsurTech Report. 

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P&C insurance industry launches collective recruitment effort

January 25, 2024 by David Gambrill

Canada’s property and casualty insurance industry has launched a collaborative, industry-wide recruitment effort dubbed Project Reframe. Announced by the Insurance Institute of Canada (IIC) Monday, the public education campaign aims to portray the insurance industry as an engaging, dynamic, and

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News InsuranceMergers and AqcuisitionsProductsTechnology

How insurtechs can stand out in a crowded P&C market

January 17, 2024 by David Gambrill

Market dynamics are making it tougher for start-up insurtechs to find willing insurance company partners, and some say digital specialization is the key for insurtechs to make their way into the squeezed P&C industry. “Focus on specific differentiation,” advises Marcus

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Why most of your commercial clients are underinsured by at least 30%

December 12, 2023 by Jason Contant

Accurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence.  In this inflationary environment, keeping up with valuations and ensuring commercial property brokers

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News InsuranceMarkets / CoveragesMergers and AqcuisitionsMGAsProductsProfessional Development

U.S.-based insurance provider to acquire Sutton Special Risk

December 6, 2023 by Jason Contant

New York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates

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Why you need to consider embedded insurance

November 23, 2023 by Jason Contant

Embedded insurance not only enhances the customer experience but also provides greater access to data for insurers, speakers said during KPMG’s recent 2023 Insurance Conference in Toronto.  “You unlock a lot of data that will change the way you do

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Is it time for a new approach to systemic cyber?

November 10, 2023 by Jason Contant

Systemic cyber risk needs to be tackled with more capacity and ways of dealing with the attritional cyber market, Marc Lipman, president and attorney-in-fact at Lloyd’s Canada, suggested during an industry event last month. “Just like there developed a traditional,

Cybersecurity concept
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Is personal cyber the new fire?

November 6, 2023 by Alyssa DiSabatino

Clients are seven times more likely to fall victim to a cybercrime than a house fire.   But while most homeowners realize the need to have a fire extinguisher on hand, or to cover their risks with home insurance, many

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News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesProductsReinsuranceTechnology

Which commercial line needs more capital?

October 16, 2023 by Jason Contant

Even though the cyber insurance market is in a much better place now than a few years ago, it still needs an injection of capital to keep up with burgeoning demand, a speaker said during an industry event earlier this

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News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and AqcuisitionsProducts

BrokerLink completes largest Alberta acquisition to date

October 12, 2023 by Jason Contant

BrokerLink has completed its largest acquisition to date in Alberta with the purchase of Alpine Insurance Inc., the brokerage announced Wednesday. The brokerage also acquired Ontario-based Eagen Insurance Brokers Inc. Both deals were effective Oct. 1. “Alpine Insurance marks BrokerLink’s