Insurable Interest Canadian Insurance Blog

New release empowers carriers with streamlined workflows, intelligent automation, and performance enhancements to accelerate growth and reduce operational friction Morristown, NJ (Apr. 7, 2026) – Majesco, the insurance industry’s foremost innovator in cloud and AI-native software, has announced its Spring ’26 Release, a bold step forward in helping insurers simplify and optimize operations, move faster, and unlock greater business value from their core systems. Built on customer feedback, this release addresses key pain points across Majesco’s product portfolio enabling insurers to eliminate operational friction and time to focus on high-value activities that deliver business and customer value amid evolving market demands. “Spring ’26 marks an important step forward for our customers as they navigate increasing complexity and rising expectations across their businesses,” said Manish Shah, President and Chief Product Officer at Majesco. “This release advances Majesco’s vision for intelligent, connected, and AI-powered core operations built around intelligence on tap, human–agent teams that enable insurers to scale rapidly, operate with agility and resiliency, and generate business value faster than traditional companies by deeply integrating AI in business processes across the value chain.” Built around the theme Redefine Possible, the Spring ’26 Release introduces new capabilities designed to reduce friction, improve visibility,...

Malvern, PA (Apr. 2, 2026) – The Insurance Information Institute (Triple-I), in partnership with Fenix24, is pleased to announce the publication of a new report examining how insurance companies are managing their own cybersecurity risks and where critical vulnerabilities remain: Cybersecurity for Insurers: Squaring Safety with Service. The report found that while property/casualty insurers have made impactful cybersecurity investments, gaps remain in areas including patching cadence, authentication practices, and recovery testing, which are all weaknesses that could complicate responses to today’s threat environment. The report draws on a series of conversations with insurance industry executives, with questions aligned to best practices, regulatory requirements and security controls commonly required in cyber insurance underwriting. “Insurers occupy a paradoxical position in the cybersecurity landscape,” said Sean Kevelighan, CEO, Triple-I. “They assess cyber risk for policyholders and establish security requirements as conditions of coverage, yet they also need to demonstrate their own cybersecurity practices meet or exceed evolving standards.” “Most organizations have tested their recovery plans for natural disasters or standard IT outages, but not for ransomware attacks,” said Mark Grazman, CEO of Fenix24. “Understanding what actually happens in a ransomware scenario is critical to architecting true resiliency. It’s not just backups at risk,...

Princeton, NJ (Apr. 2, 2026) – Coforge, a global AI-native engineering services leader, is pleased to announce a strategic partnership with Solstice Innovations, Inc. to accelerate agentic AI-led adoption of modern core insurance technology for P&C insurers. Under the agreement, Coforge will establish a dedicated Center of Excellence (CoE) powered by its Forge-X AI platform, enabling faster, more intelligent client onboarding, system integration, migration, quality engineering, and business process transformation for Solstice and its customers. The Coforge–Solstice partnership brings together two AI-native capabilities that in combination will redefine P&C insurance modernization through agentic AI. Solstice’s agentic Equinox™ platform defines the destination as a modern, intelligent core system that transforms how insurers operate, leverage, interface with and pay for their technology products. Coforge Forge-X defines the journey of an AI-driven delivery engine that gets insurers there faster and with greater confidence. Together, they create an end-to-end modernization proposition that is both technically differentiated and commercially compelling for P&C insurers across multiple lines of business. Coforge Forge-X will serve as the primary accelerator for moving Solstice’s prospective and existing clients from legacy environments onto the Equinox platform with greater speed, lower risk, and measurably reduced implementation cost. “The partnership between Coforge and...

Canada’s costliest disaster of 2025 underscores the importance of building more resilient communities Toronto, ON (Mar. 31, 2026) – Insured damage from last year’s late March ice storm in Ontario and Quebec is now estimated at $466 million, according to the latest figures from Catastrophe Indices and Quantification Inc. (CatIQ), following an initial estimate of $342 million issued shortly after the event. The storm was the costliest severe weather event of 2025 across the country and now ranks as the sixth costliest in Ontario’s history. “Severe weather events continue to intensify. Insured losses from catastrophic weather and wildfires have nearly tripled over the past decade, rising from $14 billion annually to $37 billion, while claims have almost doubled,” said Maximilien Roy, Vice-President, Strategy, Insurance Bureau of Canada (IBC). “This reality demands a different approach to how we build and plan communities – and investing in resilience now is critical to keeping Canadians safe and insurance available and affordable.” Canada’s P&C insurance industry continues to urge governments of all orders to take meaningful action to reduce growing disaster risks by investing in flood‑defence infrastructure, strengthening land‑use planning to keep development out of flood‑prone areas, expanding FireSmart initiatives in communities at high wildfire risk, and...

Waterloo, ON (Apr. 1, 2026) – Equitable® is pleased to announce that its clients will now have access to enhanced bereavement support through a partnership with Empathy, the technology company transforming how the world plans for and navigates life’s most difficult moments. The partnership will offer timely information, helpful tools and compassionate support to people navigating a loss. Empathy Loss Support™ is a complimentary new benefit included with all Equitable life insurance policies. Through a user-friendly app or website experience, this benefit helps guide and support loved ones during a time of loss, reflecting the care and compassion at the heart of Equitable’s client experiences. “We’re partnering with Empathy because we care deeply about our clients and their families. Losing a loved one can be overwhelming,” says Martin Reeves, Executive Vice-President, Individual Insurance Division at Equitable. “Through Empathy, we’re adding value for our clients. Our hope is that we can provide some comfort and support for whatever people may be facing through one of the most difficult times in their lives.” Empathy Loss Support is now included with all Equitable life insurance policies and is available at no extra cost. This benefit can help with the emotional, practical and logistical...