Ontario, Canada (CU)_ Definity Insurance Company and Google Cloud have announced a new collaboration. Accordingly, the cooperation will enable the two firms to partner and utilize Google’s data, analytics, artificial intelligence (AI), and machine learning (ML) technologies in order to speed up the development of novel and customized insurance products on the cloud. According to Definity, the integration of its insurance knowledge with Google Cloud technology enables the creation of a more seamless, intuitive insurance experience for clients and brokers.
Rowan Saunders, president and CEO of Definity, expressed hopes over the collaboration. He said, “Definity and Google Cloud’s joint ambition is to create leading, insights-driven, customer-centric experiences. Our innovative work together will make us one of the earliest Canadian P&C insurance companies to leverage Google Cloud technologies in this way. We believe this will enable us to deliver solutions that further solidify Definity as an industry leader that is making insurance better.”
Zac Maufe, chief of financial services solutions at Google Cloud, expressed delight over the partnership. He said, “Bringing together Definity’s deep insurance expertise with Google Cloud’s advanced data analytics and AI capabilities will create a more customized and seamless experience for Definity’s customers. We’re thrilled to work with Definity and bring our scale, speed, and security to power the company’s future.”
The announcement of Definity’s partnership with Google comes less than a month after the insurer purchased a minority stake in APOLLO Insurance, which is a Canadian digital managing general agent. Additionally, the acquisition included the establishment of a distribution connection between Definity and APOLLO, which aimed to boost the insurer’s commercial distribution capabilities.
