Ontario-based business development centre holds first insurtech hackathon

Northwestern Ontario has hosted its first insurtech hackathon, drawing ideas from some of the most promising minds in the region. The event, “Hack IT,” was held in Thunder Bay from March 29-30 in Lakehead University’s student business incubator hub, Ingenuity. Hack IT was organized by the Northwestern Ontario Innovation Centre, Lakehead University and local insurance brokerage Jones & Associates Insurance. Ten teams comprised of both students and alumni from Lakehead University and Confederation College participated in the hackathon. Teams had 24 hours to propose and develop solutions to insurance-related issues. Themes explored during the event include changing demographics, severe weather events, the sharing/gig economy and trends such as the mounting costs of insurance fraud and cybersecurity. Industry partners were present at the event to provide guidance and insight to participants. Partners included Gore Mutual Insurance, Policy Works, BoBTrak, BrokerLift and ClientDesk.