Life and Non-Life insurance market in Canada - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

GDP per capita is a measurement often used to determine economic growth and potential increases in productivity and is calculated by taking the GDP and dividing it by the total population in the country. In 2014, Canada had one of the largest GDP per capita values in the world, a value that has grown continuously since 2010 after experiencing a slight downturn due to the financial crisis of 2008. GDP per capita is a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. Per capita income of the country has increased in recent years and expected to continue.

The InsurTech businesses featured the previous quarter are US-based BriteCore, a cloud-based fully-managed policy administration system, US-based Risk Genius, and Canada-based ProNavigator, both of which provide services around managing policies, acquiring or populating data, and supporting intelligent navigation through insurance company systems. Sun Life has formed a strategic partnership with rising People, an HR, payroll, and benefits administration solution tool. The integrated solution, which will offer consumers a single health and wellness platform, will be rolled out to small to mid-sized employers across Canada in early 2019.