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DECLARATIONS
NEW OFFERS
bulletin announcing the move. Electronic pink slips will likely appeal to drivers who are comfortable with tech- nology and using smartphone apps, says Kelly Hickman, president of the Insurance Brokers Association of Newfoundland and Labrador (IBAN). In fact, she adds, a common call to brokers is from clients
looking for a copy of their pink card. Some brokers have already been of- fering access to electronic pink cards through broker management system apps or other providers. “It may be dif- ficult getting consent from those clients after the fact,” Hickman notes. “For those brokers who have been offering ac- cess to eSlips through their online apps or other providers for a few years, it will now be necessary to obtain written con- sent from those clients in order for them
to be able to use the EPAI.”
Regulatory bulletins in Alberta and
Newfoundland and Labrador include some required guidelines and principles for insurers and brokers to offer EPAI. Among them is that the insurer or bro- ker must obtain consent from the client to offer EPAI.
In addition, consumers must be aware of specific risks and limitations:
• The absence of Internet services may
limit the on-demand availability and
accessibility of EPAI
• If a client is travelling outside prov-
inces that offer EPAI, they will be re- quired to produce a paper-based card that “may require direct confirmation with their insurer or broker,” in the words of the Newfoundland and Lab- rador bulletin.
• The client is responsible for any loss or damage to their phones that may occur while the devices are in the care, custo- dy or control of a third party who has authority to request access.
Nova Scotia became the first Canadi- an jurisdiction to approve EPAI in Jan- uary 2018.
ALBERTA TORNADOES | JULY 23 The province’s tornado season this year
has been “active,” storm-chaser Chris Kiernan reported. Seventeen probable or confirmed tornadoes have happened so
far, according to Environment and Climate Change Canada. The number far-surpasses the 30-year average of 12.
INSURTECH PLATFORM FOR AGRICULTURE
Vendor: Farmers Edge
Target Audience: Agricultural insurers
What it Does: Creates an enhanced digital connection between insurance providers and agricultural growers
Winnipeg-based Farmers Edge has launched an insurtech platform that combines field-level data, remote sensing, artificial intelligence-driven models, and secure automation technology.
For insurers, the platform offers visibility into each farm operation for better risk management and lowered administration costs through automated claim prediction, detection, estimation, adjudication and reporting.
The platform uses data from FarmCommand, an all-in-one farm data management platform. It also includes the release of two new solutions, Smart Claim and Smart Reporting, to bridge the gap between field data collection and reporting.
FREE RISK MANAGEMENT SERVICES
Vendor: CFC
Target Audience: Technology companies
What it Does: Adds a variety of free risk management services to its technology insurance policy
Specialist insurer CFC has added a range of free risk management services to its technology insurance policy to help customers prevent a claim – particularly cyber incidents – from occurring in the first place.
CFC has teamed up with experts from around the globe to provide best-of-breed risk management including, among other things:
• Cyber risk rating report from BitSight that allows customers to benchmark themselves against peers and competitors
• CFC RepKnight breach monitoring service, which continually searches the dark web for information specific to the customer’s organization and alerts them in real-time to possible breaches of their data
• Cyber incident response plan builder to help customers produce a tailored incident response plan
AUTOMATED BORDEREAU FUNCTION
Vendor: Apollo Insurance Solutions
Target Audience: Brokers and managing general agents What it Does: Automatically generates bordereau
Apollo’s cloud-based Exchange platform is designed to allow brokers to bind insurance products and produce bordereau reports with the click of a button.
Bordereau generation has been a major friction point for brokers and MGAs across Canada.
Traditionally, application data has been locked in PDF application forms. In contrast, Apollo Exchange collects, analyzes, and reports data insights. The data can be used for immediate and automated bordereau generation; it can also be used to optimize more accurate risk rating, distribution strategies and pricing.
“By collecting digital application forms, we are able to route and create bordereau
on any product, binding authority, or program — including those on Lineage and other upload sites,” says Apollo CEO Jeff McCann. “This function saves partners who are on the Exchange many hours of manual data entry. This is transformational, and goes directly to the bottom line.”
I, ROBOT | JULY 19
Artificial intelligence will have a big impact on adjusters, actuaries and insurance agents, but it won’t necessarily kill their jobs, predicted AI expert Eli Fathi of MindBridge Analytics Inc. But lower- skilled jobs may be in jeopardy — includ- ing employees who work in call centres.
canadianunderwriter.ca
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