Insurable Interest Canadian Insurance Blog

Homeowners taking steps to prepare during clear blue skies can help reduce the impact of the next storm Markham, ON (Apr. 7, 2025) – Catastrophic weather and climate events are no longer a rare occurrence in Canada. According to a recent Léger poll conducted on behalf of Allstate Insurance Company of Canada, only 27 per cent of Canadian homeowners who responded say they are very confident their home is prepared for a major weather or climate event, such as a tornado, flooding, wildfire, or hail that cause wide-spread damage to communities. Allstate in-house data shows that 29 per cent of claims it received over the last 10 years – that’s almost 1 in 3 – were from major weather or climate events. Analysis shows the number of claims due to large events was particularly high in 2024, with approximately 2.4 times more claims when compared to 2023. In fact, the Insurance Bureau of Canada’s industry-wide numbers show that 2024 shattered the record for costliest year for severe weather-related losses in Canadian history, at over $8.5 billion. Given the real possibility of such events in the future, being prepared requires ongoing education and information to support homeowners with adopting proactive behaviours....

Accelerating Intelligent Efficiency and Optimization in Insurance Morristown, NJ (Apr. 8, 2025) – Majesco, a global leader in cloud insurance software solutions, is pleased to announce the launch of its Spring ‘25 Release, a major milestone underscoring Majesco’s unwavering commitment to innovation and operational transformation for the insurance industry and customers. Focused on delivering real, measurable business impact, the release introduces intelligent, business outcome-driven capabilities designed to empower insurers to move faster, optimize and streamline operations, deliver enhanced business results, and lead confidently in an ever-evolving market. With a clear focus on efficiency, the Spring ’25 Release introduces advanced automation, GenAI innovations, and performance enhancements across the entire Majesco Platform of solutions, empowering both business and IT users. It marks another major step in the evolution of Majesco Copilot, moving from simple insights to true operational impact – streamlining complex workflows, reducing manual effort and optimizing cost structures. “Operational effectiveness and efficiency are more critical than ever. Our Spring ’25 Release is designed to help insurers rapidly adapt to market conditions and stay ahead of the competition and customer demands by delivering advanced capabilities that accelerate product and service launches, with a strong focus on operational and cost optimization,” said...

CEOs Are Relying on Employee Productivity to Fuel Organizational Growth in 2025 and Beyond A November 2024 survey of more than 450 actively employed CEOs and other senior executive business leaders revealed that their most critical challenges to leading and growing their enterprise are talent and workforce (23%) and culture and people management (13%). “As traditional avenues of growth like market consolidation, labor arbitrage and cheap financing show signs of diminishing returns, CEOs are looking to employee productivity to fuel their growth ambitions in 2025 and beyond,” said Brent Cassell, Vice President, Advisory​ in the Gartner HR practice. “However, productivity remains difficult for most employers to define, measure and impact.” Gartner has identified a working measure of productivity for knowledge workers that significantly improves business outcomes, such as revenue, profitability and brand reputation: employees doing quality work consistently and on time – employee efficiency – and employees devoting their time and skills to work that is results oriented and focused on organizational priorities – employee value creation. ​ The four emerging productivity myths that HR must address to drive their organizations desired business outcomes include: Myth No. 1: Productivity Is Not HR’s Job “Employees, managers, and business leaders view productivity...

Sun Life and Empathy partner to offer innovative bereavement support, providing personalized guidance through one of life’s toughest moments Toronto, ON (Apr. 13, 2025) – Nearly 9 in 10 Canadians have experienced the loss of a loved one, yet a new survey conducted by Ipsos for Sun Life reveals that half of Canadians have no idea where to start when loss happens. To better support those navigating a loss, Sun Life is launching bereavement support with Empathy. This innovative solution combines technology with human care to provide comprehensive support and guidance. Loss can be complicated. Grief is just one of the many challenges that people are faced with following the death of someone close to them. Grappling with a variety of feelings and responsibilities, surveyed Canadians who have experienced a loss say they feel unprepared to navigate the bereavement process. Almost 40% struggle to manage the deceased’s personal affairs and belongings. 1 in 3 are overwhelmed when navigating the legal process and administrative matters, like probate and estate management. 1 in 4 face financial difficulties, for example, dealing with funeral costs and loss of income. 1 in 4 struggle to balance their work responsibilities with their feelings of grief. “Managing...