Technology Trends in the Insurance Industry

Technology Trends in the Insurance Industry

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Advances in technology will have a major impact on all aspects of the business of insurance worldwide. For example consumers have become more knowledgeable and expect more, opportunities for auto insurance are changing, personal data is being used more extensively than ever before. There is much to consider.

By the end of this course you will be able to:

  • Describe the technology and its impact on the insurance industry
  • Explain planning for technology implementation in the insurance industry
  • Describe the exchange of data between brokerages and insurance companies

Become an ILScorp group member to save even more.

Included as part of the ILScorp Adjuster CE Subscription

Included as part of the ILScorp General CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 2
Credit Type: General/Adjuster – Technical and RIBO-Management
Credit #: AIC #48003; MB#30088
Accrediting Provinces: BC, AB, SK, MB, ON
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Included as part of the ILScorp Life/A&S CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 2
Credit Type: Life/A&S – Technical
Credit #: AIC #48003; MB#30088
Accrediting Provinces: BC, AB, SK, MB, ON
Get Instant Access(Fast, easy, done)

Included as part of the ILScorp Chad CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 2
Credit Type: Administration
Credit #: AFC10861
Accrediting Provinces: QC
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Included as part of the ILScorp CSF CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 2
Credit Type: CSF – Insurance of persons
Credit #: CSF19-02-45665
Accrediting Provinces: QC
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Business Interruption Insurance Training

Business Interruption Insurance Training

Version française

Business interruption insurance, also called “business income” insurance, is one of the most important and yet most widely misunderstood of all insurance coverages. Fact: We don’t need an extensive financial background or training to effectively explain how business interruption insurance works. Nothing could be further from the truth. After completing this course, you will know a lot about business interruption insurance and, specifically, the Profits Endorsement Form. From there, it is just a matter of communicating that information in a way that your prospects will understand.

This course is broken down into three components:

Component A – Component A – Introduction to Business Interruption Insurance

  • The Importance of Separate Business Interruption Insurance
  • Two Types of Business Interruption Endorsements
  • The Role of The Broker in The Sales Process.

Component B – Profits Endorsement Form: A Coverage Analysis

  • Indemnity Agreement
  • Section 6. Provisions (a)-(g)
  • Section 7. Premium Adjustment
  • Extensions of Coverage
  • Other Common Clauses

Component C – Profits Endorsement Form: A Coverage Analysis Continued

  • Indemnity Period – Duration of Coverage
  • Measure of Recovery
  • Payroll Option
  • Insured Standing Charges
  • Definitions

Become an ILScorp group member to save even more.

Included as part of the ILScorp Adjuster CE Subscription.

Included as part of the ILScorp General CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 3
Credit Type: General/Adjuster – Technical and RIBO-Technical
Credit #: AIC #48006, MB#30091
Accrediting Provinces: BC, AB, SK, MB, ON
Get Instant Access(Fast, easy, done)

Included as part of the ILScorp Chad CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 3
Credit Type: Insurance Technique
Credit #: AFC10854
Accrediting Provinces: QC
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Cyber Risk Training

Cyber Risk Training

During this session we will begin by discussing recent changes made to the Personal Information Protection Electronic and Documents Act. This is a natural spring board when discussing cyber insurance with clients. Next, we will briefly look at today’s cyber insurance market place to review common challenges. Then we will roll up our sleeves and get into the actual coverage forms most common in our market. Data Compromise Coverage, Computer Attack Coverage and Network Security Liability Coverage are the three major topics.

Included as part of the ILScorp General CE Subscription.
Included as part of the ILScorp Adjuster CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 3
Credit Type: General/Adjuster – Technical and RIBO – Technical
Credit #: AIC#50977;MB32089
Accrediting Provinces: BC, AB, SK, MB, ON
Get Instant Access(Fast, easy, done)

Included as part of the ILScorp Chad CE Subscription.

Access Duration from the Date of Purchase: 6 months
Credit Hours: 3
Credit Type: ChAD – Insurance Technique
Credit #: AFC11036
Accrediting Provinces: QC
Get Instant Access(Fast, easy, done)

Manulife earns record profits in 2018 as it swings to a $593 million profit in Q4

TORONTO _ Manulife Financial Corp. posted record earnings last year as it swung to a $593-million profit in the fourth quarter.

The Toronto-based insurer says it earned $4.8 billion in net income attributable to shareholders in 2018, up from $2.7 billion in 2017 when it took a $2.8-billion charge related to U.S. tax reform and faced hurricane-related charges.

Adjusted profits grew 23 per cent to $5.6 billion from $4.6 billion a year earlier.

In the fourth quarter, it earned 28 cents per diluted share for the period ended Dec. 31, compared with a loss of 83 cents per share or $1.6 billion a year earlier.

Excluding one-time items, quarterly adjusted earnings increased 11 per cent to $1.3 billion, or 86 cents per share, from $1.2 billion or 59 cents per share in the prior year.

The increase was mainly driven by new business growth in Asia, the impact of lower U.S. tax rates and expense efficiency, partially offset by the impact of lower equity markets.

Sales increased 14 per cent to $1.5 billion in the quarter, but were off three per cent to $5.5 billion for the full year.

Sun Life Financial net earnings up on tax boost to beat analyst expectations

TORONTO _ Sun Life Financial Inc. says net income rose in the fourth quarter as it benefited from lower taxes in the U.S. and lower-than-expected expenses.

The company says it had a net income of $580 million in the quarter ending Dec. 31, up from a net income of $207 million for the same quarter a year earlier when it was hit by a $251 million U.S. tax charge.

The Toronto-based insurer says adjusted net income came in at $718 million, or $1.19 per share, compared with $641 million or $1.05 per share a year earlier.

Analysts had expected adjusted net earnings of $697.75 million or $1.15 per share, according to Thomson Reuters Eikon.

The company says earnings were negatively impacted by higher than expected costs in its insurance coverage of illness and death.

Sun Life’s adjusted return on equity came in at 13.6 per cent, down from 12.7 per cent in the same quarter in 2017.

AXIS Re Hires Jason Arbuckle as Head of Underwriting, Canada

PEMBROKE, Bermuda — AXIS Re, the reinsurance business segment of AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE: AXS), today announced that Jason Arbuckle has joined AXIS Re as Head of Underwriting, Canada. Mr. Arbuckle will be responsible for the operation of the AXIS Re Canada office which includes enhancing and growing AXIS Re’s Canadian market business, and identifying and establishing new AXIS Re partnerships in the region.

“Jason is a proven reinsurance leader in Canada who has built a strong reputation for creating profitable, customized and innovative reinsurance solutions for clients,” said Jon Colello, President North America, AXIS Re. “Jason’s appointment reaffirms AXIS Re’s commitment to the Canadian reinsurance market, as well as our overall commitment to providing our brokers and clients with strong market expertise and enhanced underwriting capabilities.”

Prior to joining AXIS Re, Mr. Arbuckle spent nearly 20 years at General Reinsurance. He progressed steadily through the organization, serving most recently as Vice President – North American Regional Program Specialist. In this role, Mr. Arbuckle created and executed a program designed to grow the casualty program portfolio and North American market presence.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at September 30, 2018, of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore, Middle East, Canada and Latin America. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A+” (“Superior”) by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com. Follow AXIS Capital on LinkedIn and Twitter.

About AXIS Re

AXIS Re – a business segment of AXIS Capital Holdings Limited (NYSE:AXS) – provides reinsurance to insurance companies on a worldwide basis, comprising catastrophe, property, professional lines, credit and surety, motor, general liability, engineering, marine, workers’ compensation, agriculture, and accident and health, as well as other highly specialized risk-transfer solutions. For more information about AXIS Re, please visit www.axiscapital.com/reinsurance.

Source: Business Wire

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