Risk
The one-size-fits-all approach of current risk modelling precludes customization for specific books of business. What is needed is a more advanced level of catastrophe risk understanding, which will move risk modelling to true risk management.
May 31, 2013
5 min read
The insurance industry has used predictive analytics for underwriting, rating and claims for years. Now, a growing number of municipalities are using the same techniques for a different purpose: road safety.
7 min read
The importance of commercial insurance cannot be underestimated in the broker channel. Brokers need to reinforce and protect their commercial book of business with workflow efficiencies and technology advancements.
In many ways, it is an ideal time to introduce usage-based insurance (UBI) into the Canadian market. Consumers are currently looking at ways to better control their auto insurance premiums.
6 min read
Karin McDonald, recipient of the "Heart of RIMS" Award in recognition of her years of work with ORIMS, is humbled, touched and still a bit emotional about the honour - a sure sign the course was well worth taking.
From flood to hail, Alberta is playing host to some of the most expensive severe weather in the country. Failing and over-capacity infrastructure is responsible for a significant portion of insured losses in the province, illustrating the need for government to include adaptation in its climate change plans.
4 min read
Cloud computing is not a new way of doing business, but concerns seem to be growing among some about perceived risks. This at the same time that others are touting cloud computing as the way forward and an approach that can actually help to mitigate risk.
Data and analytics can be used to help transform flood risk management in Canada. In 2012, flooding in Manitoba, New Brunswick and British Columbia alone saw an estimated 1,500 people forced from their homes, with government and insurers left to pick up much of the bill.
One explanation for the increase in malware is large-scale compromises of Canadian sites built on vulnerable content management platforms.
3 min read
The last couple of years have seen Canada's property and casualty industry navigate some rough waters. Solid performance by insurers in risk management and underwriting has helped buoy economic stability, with the medium term expected to see a return to normal long-run average growth.
April 30, 2013
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