Insurable Interest Canadian Insurance Blog

Acquisition of Groundswell Group Inc. to enhance Deloitte’s AI and cloud transformation capabilities in Western Canada and nationally New York, NY (Apr. 3, 2025) – Deloitte Canada is pleased to announce it is acquiring leading AI and data integration firm Groundswell Group Inc. to increase its ability to serve clients from Western Canada across major growth areas of artificial intelligence and cloud transformation. Deloitte’s second acquisition of 2021, Groundswell will enhance the firm’s critical digital transformation capabilities—including machine learning, intelligent automation and cloud data engineering—which have accelerated due to COVID-19. “This is a very exciting time for AI and cloud transformation, and pairing up with Groundswell is yet another way of showing our commitment to helping Canada transform as a country by serving this fast-growing space and our mid-market and large clients,” said Anthony Viel, CEO, Deloitte Canada. “Not only does this move secure Deloitte’s position as the number one artificial intelligence consultancy in Canada, but it’s an especially big win for how we serve our Western Canada and national clients with end-to-end services to help them transform at scale and thrive.” Founded in Calgary in 2001, Groundswell is the largest AI and data management firm in Western Canada. Groundswell...

73% of US consumers have changed their buying habits after price increases over the past year. 50% of US consumers consider price as the most important factor while making purchasing decisions. While 76% of US consumers say private labels are helping them save money (+9 percentage points increase compared with September 2023), 55% who try private label switch back to branded options. New York, NY (Mar. 27, 2025) – The 15th edition of the EY Future Consumer Index (FCI), a global study surveying 20,000 consumers across 26 countries, including 1,500 in the US, reveals that 73% of US consumers have changed their buying habits after price increases over the past year amid growing economic concerns. While private label products are increasingly recognized as money savers, 55% who try private label switch back to brands, nearly half (48%) of them for better quality, taste or performance. Decoding consumers changing values. With inflationary pressures continuing to shape buying behavior, consumers aren’t just buying labels anymore. US consumers prioritize price and quality over brand familiarity. Established brands can no longer reduce pack size or raise price without facing scrutiny. In the US, shoppers have cited that they are most likely to reduce purchase...

Toronto, ON (Apr. 14, 2025) – Aon plc, a leading global professional services firm, has released its Spring 2025 Canadian Insurance Market Update. Published in support of Aon’s ongoing commitment to help Canadian clients make better decisions about risk management and insurance programs, the report finds that the Canadian Property and Casualty market has proved to be remarkably resilient. Despite record breaking natural catastrophe losses in 2024 totaling $9.1 billion, the market remains well-capitalized with healthy competition and ample capacity. “Current market conditions offer opportunities for clients to increase limits, broaden coverages, and address non-concurrency of terms from previous harder market conditions,” said Russell Quilley, head of Commercial Risk Solutions and chief broking officer for Canada at Aon. “While competitive, the pressure for growth must be balanced with profitability and the underwriting environment remains cautious and disciplined with the same level of technical scrutiny established during the last market cycle.” Other key findings: Premium increases and improved returns on investments in recent years has strengthened insurers positions. 2024 was the costliest catastrophe year in Canadian history with an estimated CAD 9.08 billion in insured damage. Canada remains an attractive market for London insurers, who are keen to grow their portfolios...

Braintree, MA (Mar. 30, 2025) – MIB, the life insurance industry’s trusted partner for data-driven insights and digital services, is pleased to announce that Paperless Solutions Group (PSG), a leading provider of cloud-based software solutions for the life insurance and financial services industry, has launched a new e-signature and workflow support platform specifically designed to meet the unique needs of the life insurance industry. PSG eXpedite℠ is a robust, cost effective, secure, and compliant platform leveraging proven technology to help manage electronic signatures while enhancing document processing. eXpedite provides greater flexibility than standard e-signature tools, adding efficiencies through robust workflow management capabilities optimized for life insurance processes, including: Unlimited signature parties and capability to designate the sequence of signatories. Delegation of document control (to a BGA, advisor or other) to enable other parties to tag fields, add questions or a cover letter, and expand document(s) routing to additional individuals for signature. Assignment of roles for recipients (those needing a copy of the final signed document) and watchers (those monitoring status). Robust notification system that keeps all individuals (signers or others) informed of document status. Adaptable email templates that can be adjusted to reflect client company voice and style. Ability to upload unique...