Insurable Interest Canadian Insurance Blog

By Joshua Schwadron, Founder & CEO, Mighty — The insurance industry is already using AI in claims. Personal injury attorneys are using AI in claims too. The real shift now is that now, for the first time, accident victims can use AI too after an accident—and that changes leverage, speed, and outcomes. At Mighty, we’ve completed the first motor vehicle injury claim settlements handled end-to-end by an AI agent, without a lawyer and without humans at Mighty involved in the negotiation. This isn’t a novelty. It’s the direction claims are headed: a consumer’s AI negotiating with an insurer’s AI to reach a fair number faster, with humans stepping in when a case is truly complex. The hidden problem: AI made law firms more profitable, not consumers better off Over the last decade, legal tech—and now AI—has been built mainly for personal injury law firms. The tools are real: automation for intake, records, demand letters, case summaries, negotiation workflows. But the economics didn’t change. Most firms in the United States still charge 33–40% contingency fees, and AI often just means they can run more files at the same price. So the consumer sees a weird outcome: AI reduced the cost of...

Verisk and APCIA report $35.3 billion underwriting gain through first nine months of 2025; combined ratio improves to 94 percent Jersey City, NJ (Feb. 6, 2026) – Verisk, a leading strategic data analytics and technology partner to the global insurance industry, and the American Property Casualty Insurance Association (APCIA), the primary national trade association for home, auto and business insurers, announced improvements in U.S. industry performance through the first nine months of 2025. Continued premium growth and reduced extreme weather losses were among the factors contributing to a $35.3 billion underwriting gain. Underwriting Results Through Third Quarter 2025 Written premiums: Net written premiums grew 5.1 percent to $740.7 billion, compared to $704.8 billion during the same period in 2024. This increase reflects a shift toward adequate pricing and stable demand across most commercial and personal lines. Earned premiums: Net earned premiums rose 6.9 percent to $711.2 billion, compared to $665.5 billion in 2024. Underwriting gain: The U.S. insurance industry posted an estimated net underwriting gain of $35.3 billion, a sharp improvement over the $4 billion gain through the first nine months of 2024. Incurred losses and loss adjustment expenses: Incurred losses and loss adjustment expenses increased just 0.6 percent, compared...

Paris, France (Feb. 6, 2026) – Capgemini is pleased to announce the expansion of its strategic partnership with Google Cloud to deliver end-to-end secure sovereign cloud solutions. As part of this, Capgemini will help clients adopt Google Cloud’s leading AI technologies, including Vertex AI and Gemini Enterprise. This is designed to drive innovation and modernize clients’ critical operations while protecting classified data and workloads and meet stringent compliance requirements in a secure environment. Capgemini and Google Cloud’s expanded partnership will allow organizations to use Gemini-based, hyper-automated cloud operations to enhance cybersecurity, resilience, disaster recovery and sovereign-aligned compliance. Joint clients can choose their sovereignty model across Google Cloud, Google Cloud Dedicated, and Google Distributed Cloud (GDC) air-gapped. It’s critical that organizations are empowered to roll out AI and modernize applications in ways that adhere to sovereign requirements,” said Kevin Ichhpurani, President, Global Partner Ecosystem at Google Cloud. “Capgemini is a vital partner in this initiative, helping customers use Google Sovereign Cloud to accelerate digital transformation while maintaining the highest standards of data integrity and sovereignty.” “While the potential of AI in modernizing critical operations is clear, there are constraints due to stringent regulatory mandates on data and compliance,” said Fernando Alvarez,...

by Steve Pieroway, Founder, Benevolent Marketing — Consider the following findings in the inaugural 2026 Benevolent Trust Index report: 67% of broker respondents believe insurtech promises of time savings, efficiency and ROI (return on investment) are overstated; 22% of respondents feel that vendors are honest about features, pricing and implementation during the sales process; 23% of respondents feel that vendors can be counted on to do what is right; 9% of respondents agree that vendors have made sacrifices for them in the past. On their own these should give us pause to think about the relationship we have with insurtech. Together, however, they support one result that quietly stands out: trust in tech is higher than trust in vendor. Now, you might think, “Can we ‘trust’ technology the same as we ‘trust’ businesses and the people who represent them?” and “Does this mean we’re in a relationship with both the tech and vendors?” Yes, we are in a relationship with the tech we use and simultaneously with the vendors who provide it. As with any relationship, we have expectations around behaviour that are underlined by trust. Trust in Tech Everyday thousands of insurance brokers across Canada login to their system,...

New York, NY (Feb. 26, 2026) – CoverGo, the leading global AI, no-code insurance platform for health, life, and P&C, is pleased to announce the launch of AI agents built specifically for insurance, accelerating the shift toward fully AI-driven insurance operations. While many insurers have digitized workflows, most processes remain rule-based and heavily manual. CoverGo is embedding insurance domain-trained AI agents directly into core insurance operations – enabling automated execution across complex underwriting, distribution, servicing, and claims processes. CoverGo has already deployed three AI Agents in production with tier-1 insurers and brokers: Intelligent Document Processing (IDP) AI Agent – This agent automates data extraction from any unstructured document (e.g., claims forms, medical reports, applications) and transforms it into structured, decision-ready data across claims, underwriting, and policy servicing. Beyond data extraction, the IDP AI Agent performs medical necessity checks, business rule enforcement, automatic calculations, FWA detection, mandatory document validation and other actions – enabling insurers to move from document processing to intelligent decision execution. Customer Support AI Agent – This agent ingests all of a company’s internal knowledge like product brochures, policy wordings, and underwriting guidelines, and provides instant, accurate answers. It empowers customer support teams to resolve queries in seconds...