Insurable Interest Canadian Insurance Blog

Partnership marks Acera’s fourth deal in Ontario in 2024 Calgary, AB (Jun. 15, 2024) – Acera Insurance Services Ltd. continues to expand in Ontario and is pleased to announce its partnership with Dorey & Tolgyesi Insurance Brokers Ltd. of Kingston. This marks Acera Insurance’s fourth deal in Ontario so far in 2024, following partnerships with KRS Insurance Brokers Inc., Green Benefits Group and Dominion Group Benefits. “As a wholly independent and Canadian-owned brokerage, Acera Insurance is proud to stand out as a viable alternative to foreign investors and insurance-company owned aggregators,” says Bruce Rabik, Chief Operating Officer, Acera Insurance. “We are pleased to welcome partners like Dorey & Tolgyesi who are not willing to sacrifice independence in their pursuit of growth.” Dorey & Tolgyesi is the largest, independent brokerage in Kingston and has a second location in Bath. Co-founder Ernie Tolgyesi has been steadfast in maintaining a local independent broker channel since opening Dorey & Tolgyesi more than 15 years ago. “Acera Insurance is defending the true Canadian brokerage option,” says Tolgyesi. “While looking to grow, I also wanted to preserve real choice and impartial solutions for the people and businesses of Kingston and our surrounding communities. This made Acera...

Fremont, CA (June 25, 2024) – In an innovative new partnership, Car Super App Way.com and CURE Auto Insurance are teaming up to protect customers’ cars from damage due to hurricanes and tropical storms. In 2022, damage from Hurricane Sandy resulted in $36.8 billion in New Jersey alone. The initiative, called the Catastrophe Loss Mitigation program, is a white glove service from start to finish where customers in projected impact zones of severe hurricane and flooding events will be notified via phone alert, in advance of the storm, of a prepaid local parking garage reservation and credits for Uber transportation to and from dropping off their vehicle. CURE’s signing makes it the first to market, amongst auto insurers, for this type of hurricane and flood loss prevention. Three additional carriers have recently signed on to partner with Way for the program, and the team is hoping to add any other carriers wanting to help customers protect their vehicles against this avoidable loss. CURE’s Chief Operating Officer, Sean Albert, emphasized that there’s never been a more critical time than now to recognize that we can do better as an industry than solely focusing on a well-oiled disaster recovery plan. The headlines...

Start Slideshow At first glance, a majority of baby boomers appear content with their financial situation in retirement, according to a recent survey from IRALOGIX, a retirement industry fintech provider.  Probe a little deeper, however, and their contentment is counterbalanced by having to adapt to fixed incomes, heavy reliance on Social Security, coping with rising living costs, feeling socially disconnected, managing health care expenses and other challenges.  “Retired boomers have a unique perspective on financial security compared to other generations,” Peter de Silva, chief executive of IRALOGIX, said in a statement. “They rely strongly on early and proactive retirement saving, and the importance of stable, dependable income sources like Social Security and traditional monthly pensions.” In contrast to younger age groups, financial security for boomers is about both accumulating wealth and managing unexpected costs to ensure long-term stability, de Silva said.  Forty-five percent of retirees surveyed advised younger generations to establish a retirement savings plan as soon as possible and diligently adhere to it. Others advised paying off as much debt as possible before retirement, and setting specific retirement goals and factoring them into a savings plan. “This approach reflects their resilience and adaptability, offering valuable insights into prudent financial...

Toronto, ON (June 25, 2024) – CSIO is pleased to welcome five new vendor members: ClicAssure Inc., Driver Verified Inc., HM Custom Solutions Inc., Norima Consulting and Quandri Technologies Inc. These new members will benefit from CSIO’s Data Standards and technology solutions to seamlessly integrate systems and advance industry connectivity. CSIO’s Data Standards are programmable lines of code in a standardized format containing information that can be easily shared between insurers and brokers via an Application Programming Interface (API), real-time download or batch data exchange. When insurers and vendors implement the Data Standards, communication between insurers and brokers becomes easier and more accessible. As part of CSIO’s multi-year strategic plan, we are committed to producing clear and concise Data Standards that are not subject to different interpretations, so that all parties speak the same language. CSIO’s vendor membership provides the opportunity to join our Working Groups and network with industry leaders. Working Group members frequently come together to drive Data Standards forward and address common broker channel pain points. Vendor members can also leverage CSIO’s secure and reliable technology solutions to help their insurer and broker clients better serve their customers. These include our widely adopted CSIOnet platform, where eDocs and data are exchanged between...

Toronto, ON (June 17, 2022) – ForMotiv, the leading provider of behavioral data science solutions for life and property and casualty insurance, is pleased to announce a strategic partnership with FRISS, a global leading provider of trust automation solutions for the insurance industry. The collaboration between ForMotiv and FRISS aims to provide insurers with new insights into applicant behavior and intent, significantly enhancing fraud detection and risk assessment processes. By combining ForMotiv’s behavioral analytics with FRISS’s predictive AI models and analytics, insurers can capture and analyze thousands of digital behavioral data points during the application process. The integration allows for real-time identification of potential fraudulent activities and misrepresentations, improving the accuracy and efficiency of underwriting decisions. Through this partnership, insurers can offer a more secure and personalized user experience without increasing risk. By understanding the digital behavior of applicants, insurers can tailor their interactions to each individual, ensuring a seamless and trustworthy application process. This helps to defeat fraud and better support trustworthy customers. “Partnering with FRISS is an exciting step forward for ForMotiv,” said Woody Klemmer, Head of Marketing at ForMotiv. “The integration of our behavioral analytics technology with FRISS’s trust automation solutions will provide insurers with critical insights into applicant behavior, helping...