Tech
The greatest value to insurance industry players and their customers will likely not be realized without expanding the number of data-based use cases, Matteo Carbone, founder and director of the Connected Insurance Observatory, recently suggested. “Connected insurance is about gathering data,” Carbone said, speaking about the Internet of Things (IoT) in insurance during a media […]
By Canadian Underwriter | May 24, 2017
3 min read
Some things seem to persist, including how inflexible IT systems, organizational silos and security concerns continue to rear their heads as obstacles to global enterprises adopting formal strategies for digital transformation. So suggests the Enterprise Digital Transformation Strategies: Turning Disruption into Differentiation, prepared by information technology research and advisory company 451 Research for CenturyLink, a […]
4 min read
The Toyota Research Institute (TRI) announced on Monday that it is exploring blockchain and distributed ledger technology (BC/DL) for use in the development of a “new mobility ecosystem that could accelerate development of autonomous driving technology.” TRI is collaborating with the MIT Media Lab and other industry partners to foster a digital environment where users […]
By Canadian Underwriter | May 23, 2017
More than three-quarters (76%) of surveyed Canadian executives believe that the number of data breach attempts on their firms will be higher in a year, yet fewer than half said that their organization’s investments in cybersecurity will increase in that same time period, a new survey has suggested. The results of the survey conducted by […]
There is a “slow but steady” trend in take-up rates among cyber insurance clients and prices continue to stabilize, according to a recent survey from the Council of Insurance Agents & Brokers (CIAB) in Washington, DC. When it comes to purchasing cyber insurance, clients are beginning to ask the right questions as they become more […]
By Canadian Underwriter | May 19, 2017
2 min read
Legal / Regulation
The use of child restraint systems should be mandatory on commercial aircraft in Canada, the Transportation Safety Board of Canada reiterated Thursday in a report on an accident that injured 25. No child restraint systems were used (nor were they mandatory) on an Airbus A320 that struck ground March 29, 2015 about 700 feet short […]
Original equipment manufacturers (OEMs) in the United States will see a 48% dent in their lucrative collision parts business as a result of self-driving cars, a new report from audit, tax and advisory firm KPMG. The report Will autonomous vehicles put the brakes on the collision parts business? was released by the KPMG U.S. Manufacturing […]
By Canadian Underwriter | May 18, 2017
The global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying the global telematics insurance market. The assessment reveals that the global connected auto insurance market […]
Insurance coverage for autonomous vehicles will bring US$81 billion in new premiums to the auto insurance industry in the United States over the next eight years, according to a new report from Accenture and Stevens Institute of Technology (SIT). The new premiums will be driven by risks related to cybersecurity, software and hardware and by […]
An insurer’s safest bet for survival as insurTech enters its second wave is to make customer choice a true focal point, providing customers access to answers and services when and how they want, Matteo Carbone, founder and director of the Connected Insurance Observatory, suggested Wednesday during a media briefing. Giving customers the opportunity to choose […]
By Angela Stelmakowich | May 18, 2017
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