SSQ Insurance Partners with Analytics Leader SAS to Prepare for IFRS 17

SAS, the leader in analytics is partnering with SSQ Insurance to support their journey toward IFRS 17 compliance. The new International Financial Reporting Standard (IFRS 17) is expected to increase the complexity and cost of operating in the industry but will improve financial transparency.

Through this partnership, SAS and SSQ Insurance will efficiently address IFRS 17 requirements as well as deliver additional benefits beyond compliance such as improved processes and automation to support their financial systems and serve to enhance overall efficiency and profitability.

“SSQ Insurance is pleased to announce a partnership with SAS. This collaboration is part of a set of guidelines established to ensure the successful implementation of IFRS 17 at SSQ Insurance. The expertise and mobilization of our internal resources combined with the know-how of SAS will allow our company to comply with the standard within the set deadline while optimizing the functionalities of this new solution and the additional information now available,” said Patrick Cyr, Senior Vice-President of Finance at SSQ Insurance.

IFRS 17 will fundamentally change the face of accounting. Insurance companies will have to report in greater depth on how insurance contracts affect their financial position. The regulation demands greater detail in financial analysis and increased cooperation between actuarial and accounting departments. While the standard does not come into force until January 2022, many insurers such as SSQ Insurance have already started preparations for the changes.

“We recognize the level of complexity IFRS 17 brings to the insurance industry,” said Cameron Dow, President of SAS Canada. “We are very committed to supporting the industry with our leadership in risk transformation solutions, equipped to tackle the regulatory burdens of current and future reporting requirements.”

“IFRS 17 is the biggest reporting change for the industry in 20 years and the implications on insurers financial operating model cannot be underestimated,” said Darryl Ivan, National Executive, Risk, SAS Canada. “Insurers are considering their options early, adding strategic capability that can accommodate flexibility and scalability to future-proof against ever-changing standards. The SAS platform ensures that all parties – actuaries, risk managers and accounting specialists – can collaborate seamlessly and establish maximum transparency to ensure compliance while enabling the business. We are delighted to support SSQ Insurance in their IFRS 17 compliance needs.”

A market leader in financial risk solutions, SAS is committed to supporting our customers with the complex requirements around IFRS17. SAS leverages its strong partner network and customer experience to support the changing nature of regulatory compliance. Working with some of the world’s largest global insurers, including: Gen ReWüstenrot & Württembergische, and HDI Seguros; SAS will draw-upon its extensive knowledge and partner network to meet all the mandates of IFRS 17 in a single, comprehensive compliance environment. The new solution is built on the same flexible, high-performance analytics platform that is helping insurance firms meet Solvency II and helping the banking industry tackle its own regulatory disruption in IFRS 9.

To learn why insurers should act now to prepare for the new requirements, and the top 10 things to look for in an IFRS 17 solution, download the white paper Insurers: Are You Ready for IFRS 17?

About SSQ Insurance
Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. With assets under management of $12 billion, SSQ Insurance is one of the largest companies in the industry. Working for a community of over three million customers, SSQ Insurance employs 2,000 people. Leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector. For more information, go to ssq.ca.

About SAS
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.

The Canadian subsidiary of SAS has been in operation since 1988. Headquartered in Toronto, SAS employs more than 300 people across the country at its VancouverCalgaryTorontoOttawaQuebec City and Montréal offices. For more information, please visit www.sas.com/canada

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2019 SAS Institute Inc. All rights reserved.

SOURCE SAS Canada

For further information: Editorial Contact: Suzanne Sprajcar, Suzanne.sprajcar@sas.com, 416-307-4634, www.sas.com/news; SSQ Insurance: Danielle Rioux, pressrelations@ssq.ca, 1-866-332-3806, ssq.ca

Related Links

www.sas.com/canada

Crawford Appoints Greg Smith as Chief Client Officer (Canada)

FOR IMMEDIATE RELEASE

Crawford Appoints Greg Smith as Chief Client Officer (Canada) TORONTO (February 21, 2019) Crawford & Company (Canada) Inc. announced today the appointment of Greg Smith to the position of chief client officer overseeing the sales, account management and marketing functions within the Canadian operations, effective immediately. This strategic decision reflects the organization’s commitment to bringing compelling value propositions to the marketplace while enhancing the voice of the customer across all global service lines. “As a progressive and innovative leader within Crawford for the past 23 years, Greg has had considerable experience in all facets of the organization, and is well-versed in emerging trends and InsurTech developments,” said Pat Van Bakel, president and chief executive officer, Crawford & Company (Canada) Inc.

“His knowledge of Crawford’s capabilities and the needs of our clients, in addition to the reputation that he holds within Crawford, position him well to support operations that deliver unique, fully-integrated service solutions to our clients.” As a veteran employee, Greg has consistently shown his commitment to supporting Crawford’s corporate mission of restoring and enhancing lives, businesses and communities. Within his new role, Greg will work with the organization’s sales, account management and marketing teams to grow market share by delivering industry leading claims outsourced solutions which address clients’ existing and emerging needs.

Greg’s tenure with Crawford includes leadership positions in marketing, project management, and claims operations before being appointed vice president, National Programs in 2017. He established the Key Account Management team in 2011 and was appointed senior vice president shortly thereafter. In 2016 he established a national shared services function which included information technology, human resources, procurement, quality & compliance. He holds a Masters of Business Administration (MBA) and Bachelor of Business Administration (BBA) degrees, is a Fellow Chartered Insurance Professional (FCIP) and has earned his Canadian Risk Management (CRM) designation. Greg is also an active member of the insurance industry through his activities with the Chartered Insurance Professionals’ (CIP) Society, as event chair for the CIP Symposium and member of the Ontario Council. He is also a member of the Ontario Risk and Insurance Management Society (ORIMS). “We are excited to see Greg continue his stellar career trajectory with Crawford and look forward to the future success we believe he will bring to the organization.” said Pat Van Bakel. For media inquiries, please contact: Amanda Bortolus Marketing Director, Crawford & Company (Canada) Inc. Email: Amanda.Bortolus@crawco.ca

SSQ Insurance CEO Jean-Francois Chalifoux named 2018 Financial Personality of the Year

SSQ Insurance proudly welcomed the news of their CEO Jean-François Chalifoux’s designation as the 2018 Financial Personality of the Year. Chalifoux was honoured by an independent jury of industry peers as part of the annual Top 25 financial industry ranking by Finance et Investissement.

“I’m very pleased to be receiving this award, which I wish to share with my SSQ Insurance colleagues. I’m happy to be able to count on the 2,000 employees dedicated to our organization. Their commitment and involvement in the company’s projects has allowed SSQ Insurance to continue to grow and position itself well in the industry,” said Chalifoux. “I thank them for their hard work and dedication.”

Jean-François Chalifoux is a leader with a vision who has focused the company’s efforts on performance and innovation to maximise the company’s results. The members of the jury acknowledged his strategic audacity and sense of innovation in addition to the company’s growth.

Chalifoux joined SSQ Insurance as CEO in September 2015. Since then he has orchestrated the company’s transformation. Following the implementation of a new organizational model, the merger of the company’s legal entities and the introduction of an ambitious strategic plan, the company launched its new brand identity in 2018 as the crowning achievement of the changes for the company’s members, customers and partners.

About Top 25 ranking of Quebec’s financial sector
Each February, the French-language publication Finance et Investissement hands out its Top 25 ranking of Quebec’sfinancial industry personalities, including the Financial Personality of the Year. This honour is an acknowledgment of the influence, exceptional achievements and remarkable growth of the company under their management.

The Top 25 of the financial industry as determined by Finance et Investissement pays tribute to 25 standout leaders who live and work in the province of Quebec and whose accomplishments stood out in the last year. The award winners are chosen by a jury made up of outstanding members of the financial industry.

About SSQ Insurance
Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. With $12 billion in assets under management, SSQ Insurance is one of the largest companies in the industry. Working for a community of over three million customers, SSQ Insurance employs 2,000 people. Leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector. For more information, please visit ssq.ca.

SOURCE SSQ Insurance

ssq.ca

Gary Gardner joins Sedgwick as SVP of national sales in Canada

Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, announced the appointment of Gary Gardner as senior vice president of national sales in Canada.

Gardner brings to Sedgwick 35 years of experience in global sales and marketing, with specialties in disability, data management, business process outsourcing, property and casualty, third-party claims administration and workers’ compensation consulting. In his new role, he will be responsible for overseeing sales of Sedgwick’s products and services in Canada, as well as developing business development strategies, identifying new market opportunities, and supporting the continued coast-to-coast growth of Sedgwick’s business across Canada.

Gary Gardner senior vice president of national sales

“Gary joins us at a pivotal stage in Sedgwick’s business development in Canada, and I am confident he will excel in his new role and boost our sales operations, so we can better serve our customers and meet our market goals,” said Michael C. Holden, president of Sedgwick in Canada.

Gardner holds the designation as a Chartered Insurance Professional (CIP) from the Insurance Institute of Canada (IIC). He has been recognized for his charitable efforts on behalf of the Ontario Risk and Insurance Management Society (ORIMS) and the Women in Insurance Cancer Crusade (WICC). He earned a bachelor’s degree from the University of Toronto.

“Gary’s knowledge of our claim services and business process outsourcing and consulting solutions will be a great addition to Sedgwick and our clients,” said Sedgwick group president Bob Peterson. “With his extensive experience in the industry, Gary’s appointment nicely complements our business strategy and supports our plans for continued expansion in this market.”

To learn more about Sedgwick in Canada, visit sedgwick.com/ca or call 888-601-6228.

About Sedgwick 
Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. We provide a broad range of resources tailored to our clients’ specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts®; through the dedication and exper­tise of more than 21,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick’s majority shareholder is The Carlyle Group; Stone Point Capital LLC, La Caisse de dépôt et placement du Québec (CDPQ) and other management investors are minority shareholders. For more, see sedgwick.com.

SOURCE Sedgwick

The Co-operators acquires Redfords Insurance Brokers

The Co-operators announced today it has purchased Redfords Insurance Brokers in Pickering, Ontario.

The brokerage’s portfolio includes personal and commercial insurance policies. Any existing insurance coverage a client has will remain in effect for the current term of their policies.

“This is another step forward in strengthening and growing our agency distribution system in Ontario, and across the country—allowing us to better serve Canadians and their families,” says Rob Wesseling, President and CEO of The Co-operators. “We look forward to helping our new clients get the insurance and investment products they need to achieve financial security, and ultimately, peace of mind.”

Clients will enjoy the exemplary service of a leading national insurance co-operative and have access to a full suite of insurance products including home, auto, life, travel and commercial.

About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $42.5 billion in assets under administration. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights’ Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca

SOURCE The Co-operators

www.cooperators.ca

Navacord Continues Expansion in Western Canada & Strengthening of National Construction Practice

Navacord continues expansion into Western Canada with the acquisition of a team of industry veterans and their book of business from BMS Canada, effective December 31, 2018.

The Vancouver team, led by Shaun Johnston, BMS Canada’s Managing Director, Construction & Development, joined Navacord’s Vancouver based Broker Partner, Wylie-Crump Limited. Wylie-Crump are experts in providing innovative insurance solutions and leading client service to the construction and development industries.

READ FULL PRESS RELEASE HERE

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