Insurable Interest Canadian Insurance Blog

Turnkey Model Removes Barriers to Ownership for High-Performing Brokers Toronto, ON (Feb. 3, 2025) — Insurance professionals seeking to take control of their careers now have a clear, direct path to ownership through the newly launched Managing Partners Program. Designed to eliminate traditional barriers to business ownership, this program provides a turnkey solution with market access, mentorship, and cutting-edge technology, enabling experienced brokers to transition seamlessly from employment to ownership. Unlike franchise models that require high fees and restrictive agreements, the Managing Partners Program offers true independence while ensuring brokers have the support and infrastructure needed to scale their business successfully. Breaking Barriers to Insurance Ownership While the insurance industry has long offered opportunities for professional growth, true ownership has remained out of reach for many brokers due to high startup costs, limited carrier access, and lack of operational support. The Managing Partners Program removes these roadblocks with: Low-Barrier Entry – No costly franchise fees, no restrictive contracts. Exclusive Carrier Access – Direct relationships with leading insurers and specialty markets. Lloyd’s Coverholder Status – Immediate credibility, exclusive underwriting opportunities, and preferred market positioning. Industry-Leading Mentorship – Guidance from Randy Carroll and Andy Friyia, two of Canada’s most respected insurance leaders....

This investment strengthens the financing ecosystem by removing risk and reducing costs to qualified clean power projects Washington, DC (Feb. 1, 2025) — The Coalition for Green Capital (CGC) is pleased to announce an investment of $200 million in GreenieRE, an impact-focused reinsurance company designed to remove financing obstacles in the insurance market to reduce costs and accelerate the deployment of clean energy technologies at-scale. Over the next decade, GreenieRE will create a ripple effect across the financing ecosystem and unlock over $30 billion in private-sector investment toward qualified projects that allows access to clean cheap power. A major obstacle for advancing clean energy projects is the lack of affordable and comprehensive insurance. Green banks, community lenders, and other financial institutions face significant challenges in securing insurance products that accurately assess risk, which is essential to qualify projects as investment-grade and attract private sector capital. Uncertainty around risk results in costly, restrictive, and limited insurance options, slowing the deployment of cost-effective energy solutions. GreenieRE will initially target bottleneck risks that are limiting the deployment of decarbonization infrastructure. The challenge is even greater for projects serving low-income and environmentally impacted communities, where perceived financial risks are higher. With CGC’s capitalization, GreenieRE...

New tool automates the policy document search process and interprets policy wording to accelerate coverage decision-making Atlanta, GA (Feb. 3, 2025) – Turvi, a new technology solution and innovation partner to the insurance industry, is pleased to announce the launch of CoverAI, a new product which leverages AI to help claims managers swiftly interpret and summarize complex policy language, enabling faster claims coverage decision-making and more consistent interpretation to help reduce human error. CoverAI is informed by a high level of insurance intelligence, leading to more relevant and reliable results than can be generated by a generic Generative AI tool. Its natural ability to correlate entities to policy definitions, coupled with customized integration and data ingestion capabilities, make it a uniquely useful solution to some of the biggest problems that carriers are trying to solve today. A common challenge that insurance carriers face is the difficulty of interpreting intricate policy wordings in order to make highly nuanced decisions about a policyholder’s claims coverage. Insurance policies can often have multiple endorsements on top of a base policy, creating hundreds of pages of documentation for a single policyholder. CoverAI leverages a fine-tuned Large Language Model and a customized ID framework to simplify...

Gothenburg, Sweden (Feb. 3, 2025) – IoT analyst firm Berg Insight has released a market report, The Global Vehicle Telematics Hardware Market – 3rd Edition, which focuses on the hardware part of the connected vehicle value chain, including device form factors such as blackboxes, OBD dongles and TCUs. Berg Insight estimates that total shipments of telematics devices reached 115.7 million units worldwide in 2023. Growing at a compound annual growth rate of 7.4 percent, shipments are expected to reach 165.3 million units in 2028. The 150-page strategy report covers both the aftermarket and OEM segments for passenger cars and commercial vehicles. Shipments of aftermarket and OEM telematics hardware reached 116 million units in 2023 Telematics is a broad term that may be applied to a wide range of vehicle connectivity solutions. Berg Insight’s definition of a telematics system in this report is an automatic system designed for passenger cars and commercial vehicles that incorporates some form of cellular/GNSS or RF communication technology. The connected car has been a major trend in the automotive industry for many years. All of the world’s leading carmakers have now launched mass-market connectivity services in key regions. The OEM initiatives can be seen as competition...

Catalyzing a Bold Insurance Response to Climate Change Toronto, ON (Feb. 1, 2025) — InnSure, the mission-driven nonprofit dedicated to harnessing the power of the insurance industry to combat climate change, is excited to introduce a new InnSure Corps member offering: the Sustainability for Insurers e-learning program. Developed by the Better Insurance Network, in collaboration with leading insurance organizations, this is the industry’s first dedicated sustainability education program designed exclusively for insurers, reinsurers, and brokers. About the Program Now, on top of all of our member benefits, InnSure Corps members will have access to a 90-minute Essentials learning pathway ($370 Value) that provides foundational knowledge on sustainability in the insurance industry. The course features insights from leading practitioners and an extensive library of supporting materials. All content is regularly updated to keep pace with rapidly evolving regulations and best practices. For members interested in a deeper dive, an upgrade is available, granting access to over 8 hours of comprehensive content and the opportunity to earn the Better Insurance Network’s Foundation in Sustainable Insurance Certificate. What You Will Learn The role of insurance in the future economy Strategic drivers for adopting sustainability How insurers implement sustainability in underwriting, investments, and operations...