
The Insurtech Canada podcast · 2024-11-20 · 16 min
Amplify '24 represents a pivotal moment for Canada's insurtech community. Held at the National Music Centre in Calgary, the conference aims to showcase advanced Canadian insurance technologies and create meaningful connections across the industry's fragmented geography. Sharif Jamel of Truffle and the host from InsurTech Canada discuss why the Canadian market has felt isolated - with brokers and startups uncertain where to plug into the ecosystem - and how Amplify solves that by bringing together vendors, brokers, carriers, and venture capitalists in one venue. The standout feature is the Stackathon, an IBAC-sponsored working session that breaks down the policy lifecycle (acquisition, CRM, claims, etc.) and lets brokers see which technologies actually work together, rather than enduring vendor pitches. For VCs, the conference offers market-fit visibility and investment thesis clarity. For carriers, it's a chance to understand what broker-side tech adoption is happening. InsurTech Canada's title sponsorship signals the event's maturation and national importance beyond Truffle's Calgary roots.
No. While brokers are a primary audience, the conference provides value for carriers (to understand broker-side tech adoption and engage with technology providers), VCs (to assess market trends and investment opportunities), vendors (to demonstrate solutions to their customers), and anyone in the insurance value chain.
The Stackathon is an IBAC-sponsored working session that maps technologies across different parts of the policy lifecycle (acquisition, CRM, claims, etc.) and lets brokers share real-world experience with tools. Unlike vendor pitches, brokers decide the value proposition based on what actually works in their operations.
Registration is available at trueflow.com/amplify, which also lists the full agenda, speaker bios, vendors, and sponsors. InsurTech Canada attendees can use a special sponsor discount code provided in partnership with the conference.
Sponsorship spots are limited and nearly sold out. Vendor booth space is unlimited - the organizers want every vendor present so brokers can see available technologies firsthand.
The conference is in September 2024 at the National Music Centre in Calgary.
Computed from the transcript - who did the talking, and the words that came up most.
Unlock the Future of InsurTech at Amplify 2024! Join us as we dive into the world of InsurTech in Canada with Sherif of Trufla. As we discuss the upcoming Amplify conference, the most anticipated InsurTech event of the year. Discover how Amplify is more than just a conference - it's the heartbeat of the industry, uniting brokers, carriers, VCs, and tech innovators. Whether you're looking to network, learn about cutting-edge technologies, or simply plug into Canada's thriving InsurTech ecosystem, this is the place to be. Listen now and get ready to Amplify your impact!
Transcribed and scored by The B2B Podcast Index.
Speaker A: Foreign.
Speaker B: So I'm here with my friend, uh, Sharif Jamel of True Float. No. No introductions needed. Everyone knows who Shareef is.
Speaker A: Like, everyone knows. Let's just call it as it is.
Speaker B: Yeah, we're just. We're just two old friends, uh, talking about insuretech and what's happening in Canada. So, Shareef, you got this Amplify conference coming up, um, in September. It. It seemed like it was so far away, but it's just around the corner now. And, uh, there's a lot of hype. Um, and I think, at least from my point of view, you and I talk about this a lot. What's the future of Canada? What's happening in the insurtech space in Canada? Is it thriving? Is it suffering? I personally feel like there's a void, and I'm just so grateful that Amplify is here to fill that void, because as a Canadian InsureTech community founder and a, uh, startup founder as well, in my other life, I look around and I go, like. Like, what do I plug into? Where do I go? Um, so it's.
Speaker A: It's. It's a challenge. Yeah, it's a. I mean, that you. You nailed it. Where. Where do you go? Even when we started, uh, Truffle, you kind of always felt like you were on your. You were on your own. Right. Unless, you know, right street, especially in Canada, is kind of consumed by these behemoth players, and it almost felt like it was too daunting and impossible to crack through. And, um, that was why. I mean, it wasn't about Trufla. Uh, Amplify is a lot more than, you know, it was done by Truffle because nobody else was kind of taking it on. But it's actually, for the whole industry, it's to. The intent of Amplify is to showcase what are the top technologies that are available, um, from a. From a Canadian perspective, especially for.
Speaker B: For brokers.
Speaker A: Right. Because we're still talking about the largest distribution channel for insurance in. In. In. In Canada.
Speaker B: Yeah.
Speaker A: Um, for most of the world, actually. Um, so that's why we did. We did amplify. It was to. To solve exactly what you're saying.
Speaker B: You know, what I love about, like, with some of the things I think about Amplify, and this will probably segue into some of the things we want to talk about today. And we do have an announcement that we want to talk about today. So that's a bit of a teaser. Um, but, you know, what Truffle does is, like, so grassroots, uh, because the. The Impetus of truth was to serve the broker and the broker is that uh, like closest to the client. Right? Everybody knows that. And then, you know, so you look at the starting point there. You guys from a grassroots solution have evolved into a truly national endtoend solution for everyone in the value chain. And I think it's so fitting that your company is based out of Calgary because Calgary is also very grassroots. And I love the fact like, you know, half of my heart is in the west and I have family out there. I love the fact that this is something that has become national, that started in the West. Um, and that's one of the reasons why we want to get behind it and we want to double down. Um, you know, Trufla has been a great supporter of InsurTech Canada as a community for several years now. And you know I was sitting with my team here at InsurTech Canada saying what can we do? Uh, because you know, we've been focusing on local meetups, uh, being a national brand but trying to have a local presence and you know, what can we do to give back? Contribute to what? The next stage of um, the evolution of the insuretech ecosystem in Canada. And again looking around what is the most vibrant uh, conference that's out there that's running in Canada today? And everyone, it was a resounding yes, it's the Amplify conference. And again the Amplify brand is, you said it perfectly. It's bigger than the true flow brand. It's the truly national identity and that's what we want to plug into. That's what we want to be part of. And everybody knows we're based out of Toronto but you know we try to service the entire country so you know, we're doubling down. What's that?
Speaker A: Not going to lie. That's why we were pretty thankful that you guys agreed to be the title sponsors because it um, kind of, you know, put the exclamation mark on the point that this is not uh, Amplify is not about true fla. It's about the entire technology ecosystem in Canada and really making sure that the insure, the insurance tech world, that insuretech world is um, um, it's alive, it's vibrant, it's growing. You know, there's so much more to it that that's happening. And let's call it as it is John, because you and I get different perspectives. You know, a lot of the technology that comes from Canada is, is some of the most advanced and world class technologies out there. We are way further Ahead than most people. Even, even real, um, know it was about time that we were able to showcase that. And really, um, lack of a better term, Amplify. What's, what's, what's, what's happening here.
Speaker B: That's one of the things we need to get better at, ah as Canadians is amplifying, um, you know, our capabilities, the impact that we can have on this industry and the value we can add for all the stakeholders in the industry. So let's, let's get into that a little bit because I think I want to clear up maybe some misconceptions that could be out there. Like is Amplify just for brokers we know as, like as a title sponsor, we know enough about um, the value that's created at Amplify, but maybe some of the people that are listening here today are thinking about going, don't quite understand. So you know, is there value for carriers? Is there value for. If I'm a vc, uh, in Canada or maybe you know, outside of Canada and I'm thinking about coming in. I know some of your speakers are coming from, from other uh, other markets. M. But yeah, talk a bit about like the, the value that other stakeholders are going to get from being at Amplify.
Speaker A: Yeah, I mean obviously because of my history and going where I came from, from the, from the broker side, um, there is a ah, um there is more light that's, that shines on distribution. Um, you know, but at the end of the day distribution, the first part of the, of kind of getting that policy out to the client's hands and then comes everything else that happens with it. Everything from um, the claims, you know, the servicing. Certainly carriers need to be there. I mean again brokers are the number one way to distribute. So understanding what are the technologies that are available out there to help facilitate the life cycle of that policy. Whether it's with a. In the broker's hands, whether it's in the client's hands, um, it really does. You know we always say that with kids it takes a village, you know, to, to raise a kid. In this case it takes a village as well because there's, it's such a huge ecosystem and um, the, you know, the more people that are involved in it, um, I mean this, this, this, this conference is for all and even VCs, I mean having that visibility to see what are the new trends, what are the technologies, what is the market fit from a product perspective. What are some of the X that are out there really understanding, um, you know, at the, at the, at every level where the technology meets the, the, the client, where it, it helps bring that efficiency. Um, hearing from the speakers, hearing from the brokers, that interaction gives you a whole different perspective for where you should put your money, you know, to invest for the future. So certainly VCs need to be there too.
Speaker B: 100 I agree. Um, and yeah, it starts with distribution. But you know, in m. My other life, I, I run a claims company. Claims tech company. I see a ton of value in being there and that's why we're going to be a vendor, uh, as well. Um, you have uh, this stack a thon, um, element, uh, on the agenda. Uh, can you tell us a bit more about like what is, what is the Stackathon? What's IBAX rule on that? Um, what are some of the.
Speaker A: It's the part that I'm most excited about. I got, I'm just right into it because it is IBAC sponsored. It's IBAC led, it's, it's hosted by ibac. The whole point of it is that every broker is super confused about, you know, what technology should I have? You know, there's a lot of uh, technology out there. There's a lot of bright, shiny things. And you know, do I reach out to this vendor? Do I reach out to this vendor? Will they do this? They do this? Does it talk to my bms? Does it do this? You know what's kind of when everybody thinks about this in kind of a linear way, M. What the Stackathon does is it basically highlights all of the technology that's available in the industry. Uh, ibax, it's a working session and they're kind of breaking it down into different parts of the life cycle of a policy. Where are the best technologies for acquisitions, for managing a client? CRM, bms? Uh, chatbot, um, you know, claims, uh, you know, claims technology. What, what, what is all the technology that's available out there? Yeah. And letting brokers decide, let them engage and decide and see what is the best technology that they should be embedding in their world that they looking at that facilitates their world. It's not just a sales pitch. It's actually brokers interacting and saying, well, we've done this and we've done this and we've seen this and these guys are good and these guys aren't so good and we've seen this.
Speaker B: I love that.
Speaker A: It, it's, it's really them deciding their own fate, their own future based on what's available out there and getting them to think More of a world outside of the bms. There's so much more available outside of the bms.
Speaker B: Yeah.
Speaker A: Um, that, uh, that provides huge value to the broker. So getting them to think of that world outside of it and how to power their brokerage into the future. Um, but without the sales pitch, right, the pitch of the vendor saying we've got the best technology. You do. The brokers will say that you do.
Speaker B: It sounds very, yeah, it's very practical. Right. You're letting the, the user, the broker really sells the value, the benefits and then, yeah, the audience can decide what's right for their business. Um, because it's not a one size fits all solution for sure. Right. Um, and uh, if I'm, if I'm a carrier, if I'm a vc, if I'm someone that's thinking about going, are there spots available still for, for sponsorship for vendors? Do you. How, how much room is, is there responsorship?
Speaker A: There is, there's limited spots left for sponsorship. We definitely want to fill those. For, uh, vendors, we have unlimited spots. Um, you know, if every vendor wants to be there, we will make space available for every vendor to, to be there. We think it's important for the vendors to be there, especially when the brokers are figuring out what are the best technologies for them. It's so important for the vendors to be there in front of the brokers, talking to the brokers, making sure they understand what the value, their value prop is. Um, yes, we got, we've still got room. Um, we are quickly, um, selling out of spots for brokers. We need, you know, and that's, that's super important there. You know, brokers and carriers. We want you there. We want you to hear what are the best techs available, where the industry is going, what are the trends so that you can, you know, adjust accordingly and for carriers to hear what are the technologies that brokers are using because they need you to engage with them too. That's super important. Yeah, uh, it, it really is so important to have everybody there. There's space for everyone. It's a massive venue. John. You've seen the venue.
Speaker B: Yeah.
Speaker A: Before the, the, the, the Bell, um, the National Music, uh, center. It's, it's wonderful.
Speaker B: And I think you're going to outgrow like I, I think Amplify is going to outgrow that space. I, uh, think next year, you know, this year is going to be explosive. Right. Um, and a new level of Amplify. I'm, I'm super excited. Just the path And I've seen the evolution from when you started this and where it's going. And, um, next year, I, I can't wait for. Because I know I, I've got a bit of an inside scoop on some of the things that we have in store for next year. Don't miss it though, because you, like, I know for a fact what, what value, um, there is in just being in the room and just being around others. And some of the thought leadership and these things you can't replicate, uh, in a zoom call. You can't replicate virtually. We, we need to. We're a massive country geographically. Um, you know, we're fragmented. There's really five, six major markets in Canada and you're not plugging into these rare opportunities. And there's fewer and fewer opportunities available for Canadians to, to plug in. And we're together determined to change that. Um, so I see a bright future. The future looks bright. I'm excited for Canada, for Amplify, for InsurTech Canada. I'm super excited as well. Um, and so, uh, thank you for having us as the title sponsor. It's our honor and our privilege.
Speaker A: We're thrilled, we're excited and can't have you guys there. Uh, it's gonna, it's gonna be badass this year. It's. It is.
Speaker B: Going badass is the best way to describe, uh, it. That's right. We should all just roll in on Harley's.
Speaker A: I love that. I almost feel like we need to have a Harley now on stage. Just.
Speaker B: Yeah, yeah, I like that. I like that. So, uh, ah, everybody, uh, if they want to find you, what's the, like, what's the best way to. If they want to inquire, should they shoot an email, uh, to your team? Go on. I know you guys have a site up.
Speaker A: Our website. Our website will include the website with the, uh, with the podcast. It's trueflow.com Amplify. You can register there. You can see the full agenda there, all the speakers, the bios of the speakers. Um, you'll see all the vendors that are joining the sponsors. Everything is right there. Register today. Sign up. We've got a special code for InsureTech Canada. A discount code.
Speaker B: Yeah.
Speaker A: So we'll, we'll include that as well. And we want to see everybody there.
Speaker B: That's a, that's a good reminder, Sharif. And like, uh, a call to action for all the people that are engaged with InsurTech Canada. We have strong community partners in other, uh, countries. Um, and, uh, you know, we have strong connections to VCs and carriers. And so anybody who's associated with the InsurTech Canada community, you can take advantage of that. So sponsor code, uh, that we have get a discount. You're not going to need it because, because the value is immense. But, uh, that is available and, and we're happy to be offering that and uh, I'm super excited to be part of it in, in this, in this new way. And I'm, I'm looking forward to, uh, to next year already. So this is going to be fantastic. So everyone, if you're not signed up, get it, get on it.