Mastercard to open $510M cyber-security centre in Vancouver

The excerpted article was written by Tyler Orton Business in Vancouver

Ottawa is putting up nearly $50 million to boost the presence of Mastercard Inc. in Vancouver with the launch of a $510 million cyber security centre.

The credit card company announced Thursday (January 23) that the West Coast city would be the home of its sixth global technology centre — one focused on developing technologies to thwart cyber attacks in the payments arena.

In a bid to entice the financial giant to B.C., the federal government dipped into its Strategic Innovation Fund to the tune of $49 million.

A February 2019 analysis from The Logic revealed just over half the fund’s recipients were foreign firms, at the time the story was published.

Mastercard CEO Ajay Banga said in a statement, “The Vancouver centre will help us meet the growing demand for technology solutions to reduce the cost of cyber-attacks, enable today’s connected devices to become tomorrow’s secure payment devices and address the growing vulnerabilities associated with the Internet of Things.”

Mastercard’s new Intelligence and Cyber Centre will be based at The Exchange office tower on Howe Street, which counts Amazon.com Inc. among its tenants.

The Mastercard office houses Vancouver-founded cyber security firm NuData Security Inc., which Mastercard acquired in 2017.

Mastercard said in a statement the new centre will be “creating and maintaining” a total of 380 jobs, while the federal government estimated the new sit would create 100 new co-op positions.

NuData already employs about 100 workers in its downtown office, leaving Mastercard to hire about 300 more workers to meet the needs of the cyber centre.

Jill Tipping, CEO of the B.C. Tech Association, told Business in Vancouver Mastercard was clearly enticed by access to talent and the city’s connections with key markets around the world.

“I’m thrilled that they’re recognizing Vancouver as a great place to launch, but it makes it even more important that we put the investment into supporting our local homegrown companies,” she said.

Mastercard is the most recent international company to show an interest in Vancouver.

Earlier this week, Silicon Valley-based fintech company Tipalti Inc. announced it was opening an office in the city next month, while fellow California tech firm Grammarly Inc. opened a 3,000-square-foot site in Gastown last fall.

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BrokerTech Ventures Hires John Jackovin as Accelerator Executive Director

DES MOINES, Iowa, Jan. 20, 2020 (GLOBE NEWSWIRE) — BrokerTech Ventures (BTV), the industry’s first broker-led investor group and accelerator program, is pleased to announce the hiring of John Jackovin as its new accelerator executive director.

“John brings with him a unique skillset, which we believe will add tremendous value to our BTV Accelerator Program as we embark on our inaugural year,” said Susan Hatten, BTV interim executive director. “His lens into the startup world, including his own first-hand experience going through the Techstars Accelerator, will prove invaluable in creating the kind of experience we hope to deliver through the BTV Accelerator.”

Over the years, Jackovin’s companies have produced millions in revenue and have serviced thousands of customers. In 2014, he took a company through Techstars, one of the most prominent and successful technology accelerators in the world. Since then, Jackovin has consulted for many organizations in the world of Fintech and InsurTech, most recently Des Moines-based Dwolla, where he managed the Growth and Internal Services Product teams.

“The need for an agent-broker-specific accelerator at this time is clear,” said Jackovin. “To be able to help shape the first program specifically for investors and innovators building the next generation of tech solutions for insurance agencies and brokerages is truly a dream.”

Jackovin’s hiring comes as BTV’s top 20 selected broker-centric, early-stage startups prepare to descend on Des Moines on February 4. These top 20 startups will be pitching to BTV’s nine super-regional owners and partners during “Selection Series Days” at Holmes Murphy’sheadquarters.

The startups, who are based all over the U.S., Canada, and Mexico, cover an expansive amount of technology needs that serve the property and casualty (P&C), employee benefits, and clinical solutions spaces, and include:

  • Agentero, Oakland, CA
  • Briza, Inc., Toronto, Ontario, Canada
  • Broker Buddha, New York, NY
  • Careignition, LLC, Chicago, IL
  • ChalkBites, Inc., Davenport, IA
  • CogniSure, Warrenville, IL
  • ConsumerOptix, Dayton, OH
  • Equal Health, Detroit, MI
  • Goldfinch Health, Austin, TX
  • HazardHub, San Diego, CA
  • InsuranceMenu, Canton, MA
  • Kwema, St. Louis, MO, and Mexico City, Mexico
  • Loss Run Pro, LLC, Missoula, MT
  • MakuSafe Corp., West Des Moines, IA
  • OnRisk, Princeton, NJ
  • ProNavigator, Kitchener, Ontario, Canada
  • Serious Social Media, Inc., Des Moines, IA
  • Talage, Inc., Reno, NV
  • TRUSTLAYER, INC., San Francisco, CA
  • Wunderite, Inc, Boston, MA

When the Selection Series is complete, BTV will select the top firms to take part in the first BTV Accelerator cohort. In addition to access to BTV Partners and distribution platforms, each of the selected startups will receive $50,000 in the form of a convertible note.

“This is an exciting time for the InsurTech movement, and especially for Central Iowa, as we now call home to the BTV Accelerator, the Global Insurance Accelerator, the AgriTech Accelerator, and Techstars,” said Dan Keough, Holmes Murphy chairman and CEO and BTV co-founder.

About BrokerTech Ventures (BTV)
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures is the first broker-led investor group and accelerator program focused on delivering innovation to the insurance agent-broker industry. Founded in 2019, BrokerTech Ventures provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BrokerTech Ventures invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels. Learn more at www.brokertechventures.com

Brad Riddell Appointed Vice President, CyberSecurITy at FlexITy, Canada’s leading Systems Integrator

TORONTO, Jan. 20, 2020 /CNW/ – Brad Riddell has been appointed Vice President, CyberSecurITy at FlexITy, Canada’sleading Systems Integrator and Digital Transformation Solutions, by CEO Peter Stavropoulos.

As Vice President of CyberSecurITy Solutions, Brad Riddell is responsible for rapid expansion and growth while managing FlexITy’s emerging CyberSecurITy business. He brings more than 20 plus years of IT risk management, systems integration, and managed services, sales and delivery experience to the FlexITy organization.

“Brad is astute at understanding the cybersecurity challenges faced by Canadian companies and developing pragmatic solutions to effectively manage cybersecurity risk. He has a proven track record of building high performing teams that attract top cybersecurity talent that our clients require. As a longstanding trusted advisor to clients across many industries, Brad quickly earns their trust and develops long-lasting relationships,” said Peter Stavropoulos.

“FlexITy is a proven and trusted Systems Integrator focused on attracting and retaining top IT engineering talent and delivering robust, high performance and reliable solutions to their clients. We are applying this winning approach to cybersecurity to create Canada’s leading end-to-end cybersecurity services business. FlexITy will build tailored solutions targeted at solving the most daunting challenges such as ransomware, securing IoT devices, ensuring the safety of critical infrastructure, enabling secure electronic commerce, and ensuring the privacy of patient medical records,” said Brad Riddell.

Canadian companies now have a single trusted provider to design, deploy, secure and manage critical IT networks, systems and applications. By taking a truly integrated approach to network and system design, integration and security, FlexITy offers a unique capability unmatched in the Canadian market.

Along with the depth of FlexITy’s Infrastructure team of architects, pre-sales engineers, highly skilled and cross-certified integrators and project managers, all with the highest of government security clearances, we work with our best-of-breed strategic partners to develop and deliver broad and deep sets of Managed and Hybrid CyberSecurITy Solutions that make an immediate impact with clients across Canada.

The range of FlexITy clients serviced over the past two decades span across some of Canada’s leading financial, government, public sector, legal, media, telecommunications, insurance and health care institutions.

About FlexITy

FlexITy is an award-winning integrator of smart technology, CyberSecurITy and service solutions, built on powerful and digitally advanced secure platforms, and delivered with decades of expertise, is headquartered in Richmond Hill, with offices in Toronto and Winnipeg.

FlexSecurITy is a next-generation cybersecurity offering enabling organizations to protect the way people work today from advanced threats and compliance risks. FlexSecurITy protects organizations from the advanced attacks targeting them and protects the critical information people create while arming organizations with the right intelligence and tools to respond quickly when things go wrong.

FlexHealth-Powered by FlexITy is a suite of patient-centric solutions that integrate interactive mobile applications, secure health IT and data, and optimize healthcare management. FlexHealth engages patients and families, empowers clinicians and delivers outcomes that matter.

FlexTEL, a leading and secure managed business provides Unified Collaboration Cloud Services for Enterprises seeking a holistic enterprise grade Collaboration Platform.


www.flexsecurity.com, www.flexity.com, www.flexhealth.ca

Wawanesa Insurance successfully implements CSIO’s My Proof of Insurance

Press Release:

(Toronto – January 20, 2020) – Wawanesa Insurance, Canada’s largest property and casualty mutual insurer, has successfully implemented CSIO’s My Proof of Insurance (MPOI). Wawanesa’s broker partners in Alberta, Ontario, and Nova Scotia can now send electronic pink slips directly to their customers using the MPOI solution.

CSIO’s My Proof of Insurance leverages mobile wallet technology to allow consumers to securely store, display and share their eSlips without having to download a separate app or sign into a company portal. Developed by CSIO, in collaboration with brokers and insurers, My Proof of Insurance was designed to meet the evolving consumer demands for a more seamless, digital experience with their insurance providers.

In the wake of the recent regulatory approvals on electronic proof of auto insurance, Wawanesa Insurance selected My Proof of Insurance as its preferred solution. With a soft roll out, they have seen tremendous success with thousands of customers electing to receive their insurance cards electronically. By providing a simple digital experience, Wawanesa is supporting its broker partners in enhancing the broker-client relationship.

“Making life easier for people is a critical part of delivering exceptional customer service,” says Jocelyne Prefontaine, Vice President Digital & Innovation, Wawanesa Insurance. “That’s exactly why Wawanesa worked with our broker partners and the experts at CSIO to bring in My Proof of Insurance. Since we launched in October, over 100 customers a day have signed up for this new, industry-leading option. Thank you to our broker partners and everyone at CSIO for working together to improve the customer experience.”

– 30 –

About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry association of property and casualty insurers, service providers and over 38,000 brokers. CSIO is committed to improving the consumer’s ease of doing business within the broker channel by overseeing the development, implementation and maintenance of technology standards and solutions such as My Proof of Insurance, eDocs, and eSignatures. In addition, CSIO operates the industry-owned mail network service, CSIOnet. CSIO maintains offices in Toronto and Montreal. For more information, visit csio.com.

About Wawanesa
The Wawanesa Mutual Insurance Company, founded in 1896, is the largest Canadian Property and Casualty Mutual insurer with $3 billion in annual revenue and assets of more than $9 billion. Wawanesa Mutual, with executive offices in Winnipeg, is the parent company of Wawanesa General, which offers property and casualty insurance in California and Oregon; Wawanesa Life, which provides life insurance products and services throughout Canada; and Western Financial Group, which distributes personal and business insurance across Western Canada. With over 5,000 employees, Wawanesa proudly serves over two million policyholders in Canada and the United States. Wawanesa actively gives back to organizations that strengthen communities where it operates, donating well above internationally recognized benchmarks for excellence in corporate philanthropy. Learn more at wawanesa.com

Chubb Appoints Suresh Krishnan COO, of Accident & Health in the United States & Canada

 Eric Bartenstein Named Chief Underwriting and Digital Officer 

WHITEHOUSE STATION, N.J., Jan. 15, 2020 /PRNewswire/ — Chubb appoints Suresh Krishnan to Chief Operating Officer for its Accident and Health (A&H) business in the United States and Canada. In this newly created role, Mr. Krishnan will assist in overseeing the day-to-day operations of the business and report to James Walloga, Chubb’s Executive Vice President, North America Accident and Health.

In this capacity, Mr. Krishnan will be responsible for developing and implementing a range of strategies related to profitable growth for the business, including sales and distribution, claims and product development for the company’s large account and middle-market insurance segments. He will also oversee Chubb’s Canada A&H business. He will be based in New York.

Mr. Krishnan brings more than two decades of experience to his new role. Throughout his career, he has served in several senior leadership roles. Prior to this new position, he served as head of Europe’s Major Accounts Division, where he led the development of business strategies and oversaw the structures, processes and performance metrics that ensured clients and brokers fully benefited from Chubb’s risk and underwriting expertise, as well as its multinational network and services.

“Suresh is a strategic leader who has been with Chubb for quite some time and has a deep understanding of our business, our culture, and our clients’ needs,” said Mr. Walloga. “That background is a good reflection of our overall leadership team and is key to our consistent approach to bringing innovative products and services to market, while providing superior support to our distribution partners. I look forward to working with Suresh in his new role and further building upon our successes.”

Mr. Krishnan joined Chubb in 1999 and has held a variety of executive-level legal positions. Prior to the merger between ACE and Chubb in 2016, he led Chubb Overseas General Insurance Division’s multinational and large accounts strategy, where he assembled and oversaw cross-functional teams in Asia Pacific, Africa, Eurasia, Europe and Latin America. This included leading and managing the Global Client Executive Practice for Chubb’s Overseas General Insurance Division.

“This is yet another example of the depth of unmatched leadership that distinguishes Chubb,” said Joe Vasquez, Chubb’s Senior Vice President, Chubb Group and head of the company’s Global Accident and Health business. “I am excited to have Suresh serve in another leadership capacity and confident he will continue to represent the world class underwriting, service, and claims support Chubb is known for.”

Succeeding Mr. Krishnan as head of the Major Accounts Division, Europe will be Chubb’s Country President for France, Nadia Côté.

Mr. Krishnan holds a Bachelor of Arts degree from Colgate University and a Juris Doctor from The University of Richmond School of Law.

Chubb Creates New Digital Role for North America Accident and Health Division 

Chubb has also named Eric Bartenstein Senior Vice President, Chief Underwriting and Digital Officer for its North America Accident and Health division. In this newly created role, Mr. Bartenstein will focus on leading the transformation of North America’s A&H business into a digital environment that makes it even easier for clients and distribution partners to do business with Chubb. Mr. Bartenstein will be based in Philadelphia and report to Mr. Walloga.

“We are committed to creating an ideal environment and experience for our clients and distribution partners,” said Mr. Walloga. “I am excited to work closely with Eric to expand on our technical capabilities and ensure best practices are in place to meet our clients’ unique needs.”

Mr. Bartenstein has more than two decades of experience in A&H underwriting. Prior to this expanded new role, he served as Chief Underwriting Officer for the A&H business.

He holds a Bachelor of Arts degree in English from Syracuse University.

About Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: chubb.com.

Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit chubb.com/ca.

SOURCE Chubb

 

Canadian InsurTech Leader Keal Appoints New General Manager to Build for the Future

MONTREALJan. 10, 2020 /CNW/ — Keal Technology, an expert in Canadian broker innovation powered by Vertafore, announced that Dimitrios Argitis has joined the company as Vice President and General Manager to lead Keal’s next phase of growth and roll out new solutions to the Canadian market.

Dimitrios Argitis appointed as Vice President and General Manager of Keal

Keal’s mission is to provide Canadian brokerages with world-class solutions that contribute to their success in an increasingly competitive marketplace. A respected leader and seasoned software and product executive, Argitis is known for successfully leading organizational transformations to enhance customer success, optimize revenue and build for the future.

“Canadian customers will benefit from a company determined to stay Canadian, but with the additional resources of a large international organization with a track record for delivering innovative, world-class software,” said Argitis. “Imagine the solutions we can bring to the Canadian market, both homegrown as well as those adapted from proven solutions in the United States to fit Canadian brokers’ needs. This will drive significant value for our customers.”

Argitis graduated from McGill University and has spent his 23-year career working for several leading software organizations based in Toronto and Montreal, such as TECSYS and Epicor Retail (currently Aptos). Often referred to as a Swiss Army knife, Argitis is well versed in all aspects of the customer lifecycle – spanning from sales to project delivery, custom development, customer support and business optimization.

Argitis succeeds Pat Durepos and Renee Durepos. In 2016, the Dureposes, then owners of Keal, joined the Vertafore family for the betterment of their broker partners and their employees. Having completed the goal of transitioning Keal from a family-owned company to a leader in the InsurTech space, the Dureposes are moving on from Keal to usher in a new wave of innovation and growth.

Argitis is excited by the opportunity to work for Keal, a staunchly Canadian software solution, made by Canadians for Canadians. He sees significant potential in Keal’s future thanks to the backing of Vertafore, the leading insurance software provider in the U.S.

About Keal

Keal Technology is the expert in Canadian broker innovation and a leader in the BMS (Broker Management Systems) marketplace for insurance and financial services brokers. Keal offers an integrated suite of products designed to increase revenue through efficient use of technology. In 2016, Vertafore acquired Keal Technology, a leading provider of broker and commercial management systems in Canada. For more information, visit www.keal.com and follow us on Twitter and LinkedIn.

About Vertafore

For over 50 years, Vertafore, the leader in modern insurance technology, has built and supported superior InsurTech solutions to connect every point of the distribution channel. Vertafore’s agency management, ratings, regulation, compliance, and connectivity products streamline workflows, improve efficiency and drive productivity for more North American insurance professionals than any other provider – including more than 20,000 agencies, over 1,000 carriers and 23 state governments. Through a continual focus on operational excellence, development of innovative solutions, and alignment with key industry partners, Vertafore is leading the way for customers of all sizes by delivering results that make a difference. For more information about Vertafore, visit www.vertafore.com.

©2020 Vertafore and the Vertafore logo are registered trademarks of Vertafore. All rights reserved. All other trademarks are the property of their respective owners.

SOURCE Vertafore

Related Links

http://www.vertafore.com/

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