Canadian Underwriter

Canadian Underwriter | October 25, 2019

Insurtechs like one Canadian startup in particular are letting brokers provide better service, but the sector as a whole contains some money pits for investors, Willis Towers Watson suggested in a report released Wednesday. But nearly US$17 billion has been invested into insurtech in the past seven years – US$1.5 billion in the third quarter of 2019 alone, reports Willis Towers Watson. “There is a very large sinkhole somewhere,” said Willis Towers Watson. “Who can honestl...

Canadian Underwriter | October 15, 2019

Applied Systems announced Tuesday it has acquired Policy Works, a major platform for commercial lines business in Canada.The acquisition will extend Applied’s position within the commercial lines market segment, driving greater connectivity and automation for commercial lines brokerages and insurers in the Canadian marketplace, Applied said in a press release.“As Canada’s leading provider of broker management systems, rating services and connectivity solutions between brokers, ...

Insurance Business Magazine | January 16, 2020

Insurance start-up battleface, which provides travel insurance for unconventional travelers worldwide, has announced that it has successfully closed a seed funding round with backing from strategic and venture capital investors. Fintech Ventures Fund has invested in battleface, joining Greenlight Re and Tangiers Group. The investment will be used to expand software development, hire sales and business-development personnel, and expand battleface’s global reach, the company said. “We ...

Aon | January 15, 2020

Global insurance brokerage and professional services firm Aon has officially completed its acquisition of CoverWallet, a US-domiciled digital insurance platform for small and medium-sized enterprises (SMEs). Now finalized, the deal enables Aon to expand its position in the fast-growing commercial insurance market for SMEs. The brokerage giant will also be able to leverage CoverWallet’s technology and data & analytics capabilities to develop and scale innovative digital client experienc...