Canadian Underwriter


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News InsuranceProductsTechnology

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. 

Water leak sensor alert
News ClaimsClaims CanadaInsuranceMarkets / CoveragesTechnology

How carriers get real-time info on property (and other) risk exposures

June 15, 2023 by Jason Contant

Carriers in the small business space are increasingly turning to technology to understand exposure changes and help insureds manage their own risk, an expert said recently. By relying on things like sensor technology, carriers can get real-time information on changes

Young people in co-working creative space
News InsuranceProfessional DevelopmentTechnology

How to hire more Gen-Z underwriters

June 14, 2023 by Alyssa DiSabatino

Employers of all industries want to hire the newest generation of workers, Generation Z, and so the insurance industry needs to make sure it’s getting ahead of the curve, especially with a dearth of property and casualty underwriters in Canada. 

A pedestrian passes a Silicon Valley Bank Private branch in San Francisco, Monday, March 13, 2023. Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures. Regulators closed the Silicon Valley Bank on Friday after depositors rushed to withdraw their funds all at once. (AP Photo/Jeff Chiu)
News AnnouncementsInsuranceMarkets / CoveragesRiskTechnology

Will U.S. bank collapse impact Canadian insurtech funding?

March 14, 2023 by Alyssa DiSabatino

Canadian insurtechs may not be entirely immune to the aftershocks of two U.S. bank failures, one expert told Canadian Underwriter.  Silicon Valley Bank (SVB) failed on Mar. 10 after its mostly tech-centric and tech start-up customer base, hit hard by

Robot assistant for a digital insurance brokerage
News BrokersEmploymentInsuranceTechnology

How to digitize traditional brokerages without breaking the bank

February 28, 2023 Alyssa DiSabatino

Many brokerages adopted technology sooner than planned because of the pandemic. And now acceptance of remote work is pushing brokerages to accelerate — or in some cases, start implementing — digital strategies. It’s easy to make a case for digitizing

Insurtech written upon a digital dashboard
News InsuranceMarkets / CoveragesProductsTechnology

What insurtech activity in Canada looked like in 2022

February 22, 2023 by Alyssa DiSabatino

Canada saw a total of 14 insurtech deals in 2022—and 3 deals in Q4 alone, according to the latest Gallagher Re Global InsurTech Report for Q4 2022.  Overall, Canada saw more than $125 million in funding volume for insurtech investments

Mechanic holding a spot welding machine for welding front car part at auto garage
News ClaimsClaims CanadaInsuranceRestoration

What will drive collision repair delays in 2023?

January 5, 2023 by Alyssa DiSabatino

Delays in collision repair services, which started in 2021 and continued into 2022, will not stop anytime soon due to an ongoing repair technician labour shortage in Canada and the U.S., a consulting firm reported in a recent whitepaper.  “From

Woman packing her office belongings in a box
News BrokersInsuranceTechnology

Canadian insurtech announces layoffs

November 16, 2022 by David Gambrill

Vancouver-based insurtech Apollo Insurance has laid off approximately 25% of its workforce of about 125 people across Canada, according to one source familiar with the matter. Employees were told during a 9 a.m. meeting, Pacific Time, according to the source,

Three Amazon boxes stacked in front of a residential door.
News BrokersInsuranceMarkets / CoveragesTechnology

Brokers are more like Amazon than they think: IBAO Convention

October 24, 2022 by Alyssa DiSabatino

Much like Amazon, P&C insurance brokers offer consumers distribution, choice and data, a broker executive observed at the Insurance Brokers Association of Ontario (IBAO) convention in Toronto last Thursday.   In the same way, brokers offer insureds three things that

Illustration of a businessman holding a suitcase standing atop a downward line of stock
News InsuranceTechnology

Why insurtech investments are down

August 22, 2022 by Alyssa DiSabatino

Insurtech investments fell by 79.6% in 2021, leading to job losses and tough economic conditions for the sector in the first half of 2022 thanks to a “combination of factors,” said GlobalData’s Deals Database.   This follows after Gallagher Re found

BOXX Headshot - Phil Baker
News AnnouncementsAppointmentsInsuranceTechnology

Insurtech BOXX Canada names former Beazley chairman as president

February 24, 2022 by David Gambrill

Former Beazley Canada board chairman Phil Baker is now president of global cyber insurtech BOXX Canada. Baker also will be responsible for delivering BOXX’s insurance strategy globally as its global head of insurance. The Toronto-based and privately-held company helps businesses,

News Insurance

Mass personalization can enhance customer experience: PwC Canada

October 5, 2021 Canadian Underwriter Staff

Accelerated digitization continues to drive strong M&A activity in P&C, with brokerages that prioritize the customer in their digitization strategies more likely to succeed. “Understanding the customer and how to change the customer experience will be the key differentiator for