- Roamly acquires Canadian Access to strengthen its presence in Canada.
- New headquarters established in Toronto as part of international growth.
What happened: Roamly acquires Canadian Access and opens Toronto headquarters
Roamly, the InsurTech platform of the Outdoorsy Group, has expanded into Canada with the acquisition of Canadian Access and the opening of a new headquarters in Toronto. This move is part of the company’s international growth strategy and includes an enterprise partnership with Aviva. Rich Sanders, the newly appointed President of Roamly, highlighted the importance of the expansion, stating that establishing a Toronto base aligns with Roamly’s growth in the Canadian market. Roamly’s enterprise platform provides insurers with AI-driven solutions designed to simplify underwriting, pricing, and policy management. The system processes over 200 terabytes of actuarial data daily, aiming to improve underwriting accuracy and accelerate product launches.
Adam Beach, President of Canadian Access, noted that the acquisition would enhance access to digital-first insurance solutions for consumers and businesses. In addition to its partnership with Aviva, Roamly plans further collaborations with insurers to develop tailored insurance products for the Canadian market. These include home, auto, specialty insurance, and mobility services such as carsharing and RV rentals.
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Why it’s important
Roamly expands into Canada to enter the CAD$82 billion general insurance market, which may reach CAD$143 billion by 2029. The company acquires Canadian Access to extend its services and integrate its technology into the sector. Roamly introduces an AI-powered platform that processes large-scale data for underwriting and policy management. The platform provides insurers with tools to improve efficiency and manage risks. This expansion aligns with ongoing developments in InsurTech, where digital solutions support insurance operations. Roamly establishes a Toronto headquarters and forms partnerships to develop insurance products. The company focuses on offering services that meet the evolving needs of the Canadian market.
