IA Financial Group partnered with U.S. data analytics firm FICO to expand automated insurance underwriting in Canada, FICO said in a statement.
Over half the insurer’s underwriting process is already automated, the release said, and iA is aiming to reach 80% by 2030. FICO said its platform will help iA make real-time underwriting decisions.
“By increasing automation and refining advisor workflows, we’re delivering a seamless experience,” Philippe Cleary, iA’s vice-president of underwriting, new business and claims, individual insurance and savings and retirement, said in a release. “These improvements not only streamline current processes but also pave the way for the future automation of more complex decisions.”
Richardson starts using CapIntel
Richardson Wealth is now using the CapIntel platform to create client proposals, CapIntel said in a recent release.
Creating client proposals was traditionally a time-consuming task that took time away from advisors that could’ve otherwise been used to build client relationships, James Rockwood, founder and CEO of CapIntel, said in a release.
“We did just launch Capintel, which is an amazing tool that helps teams win business upfront,” Dave Kelly, president and CEO of Richardson Wealth, said in an interview.
CapIntel will be integrated with Richardson Wealth’s advisor desktop platform.
“We do need to drive towards a more integrated stack of tech because that’s where it really adds value for advisors,” Kelly said.
Google chooses three Canadian fintechs for accelerator program
Three of the 14 startups selected by Google to join their startup accelerator in Canada were fintechs.
Over the next three months, the startup founders will have access to Google mentors to refine business strategies, scale AI technology and connect with potential investors. They are not required to give up equity in return.
Toronto-based MarketMind Technologies uses Google’s Gemini AI to help public companies manage relationships with retail investors. For example, it can use AI to generate content that resembles what is provided in institutional investor meetings and distribute it to third-party financial research sites.
Another Toronto-based company, Quanto, automates bookkeeping for accounting firms to reduce manual data entry. It can reconcile bank records, spot anomalies and categorize transactions, among other features.
Montreal-based Happly uses AI to help businesses find funding opportunities that doesn’t require owners to dilute their ownership. It already has 75,000 users.
With files from Katie Keir.