InsurTech NY: InsurTech Canada on Growth

At InsurTech NY, Finn Magee from InsurTech Canada explains the organisation’s role in connecting and growing the Canadian insurtech ecosystem both domestically and internationally.

Magee says that for a long time, there hasn’t been a clear platform for Canadian companies to connect specifically around insurtech. He points out that much of the deal activity and innovation in the space has traditionally been centred in the U.S., leaving a gap for Canadian-focused collaboration.

InsurTech Canada aims to address that.

Magee explains that the organisation works across a broad range of insurance segments, from life and P&C to areas such as underwriting, distribution, and claims the latter currently being one of the most active areas of innovation. The goal is to create a space where companies across the ecosystem can connect, share ideas, and find opportunities to grow.

He describes the organisation’s core focus as “building bridges.”

This includes helping Canadian companies scale beyond their domestic market. Magee highlights that while countries like the U.K. and Australia share regulatory similarities with Canada, the U.S. remains the most immediate opportunity due to its proximity and market size.

To support this, InsurTech Canada works closely with organisations like InsurTech NY.

Magee explains that this collaboration is about connecting Canadian technology providers with potential buyers and partners in the U.S., helping to enable cross-border expansion and growth.

He also shares his perspective on how the Canadian market compares globally.

Magee notes that Canada has often followed trends seen in markets like the U.S. and U.K., but that is beginning to change as technology adoption accelerates. Carriers are increasingly recognising that customer expectations are shifting towards more digital experiences.

This is reflected in changes across the insurance journey.

Magee points to examples such as moving from in-person broker interactions to online policy binding, and from traditional claims processes to more self-service, digital options. According to him, this shift is happening across underwriting, broking, and claims, driven by growing demand for convenience and efficiency.

He adds that this momentum is also attracting attention from investors.

With the Canadian venture landscape evolving, Magee says there is increasing interest from external capital, including private equity and venture firms, who are starting to see Canada as an attractive and growing market for insurtech.

Overall, Magee’s view is that Canada is entering a new phase.

With stronger connectivity, rising technology adoption, and increasing investment interest, the Canadian insurtech ecosystem is becoming more active and more closely linked to global markets.