More than four in 10 CEOs around the globe have begun the process of digital business transformation, according to a new study from Gartner, Inc., an information technology research and advisory company based in Stamford, Conn. Mark Raskino, vice president of Gartner and a Gartner Fellow, said in a press release on Monday that 20% […]
By Canadian Underwriter | April 25, 2017
3 min read
PHILADELPHIA – Risk managers will need to take the lead in organizational efforts to address complex challenges and opportunities in an environment that increasingly features rapidly advancing disruptive technology risks, suggests a joint report from broker and risk advisor Marsh and RIMS, the risk management society. The 14th annual Excellence in Risk Management report, Ready […]
By Canadian Underwriter | April 24, 2017
6 min read
PHILADELPHIA – Considering human risk is essential when determining how best to combat data breaches and associated costs, but the human element is routinely overshadowed by technology in organizational efforts to bolster cyber security, says Anthony Dagostino, global head of cyber risk for Willis Towers Watson (WTW). “Companies tend to place a heavy emphasis on […]
By Jason Contant | April 24, 2017
4 min read
PHILADELPHIA – Social media is amplifying the impact of the top-ranked risk for businesses – damage to reputation and brand – while cyber risk has fully entrenched itself in the Top 10, becoming the number one risk for respondents in North America, Aon plc’s 2017 Global Risk Management Survey found. Released Monday during the RIMS […]
By Angela Stelmakowich | April 24, 2017
5 min read
Allianz SE announced on Friday that it has recently made a “strategic investment” in Lemonade Insurance Company, a New York-licensed renters and homeowners insurer powered by artificial intelligence and behavioural economics. “The partnership ties in neatly with our digitization focus,” Allianz said in a statement. “After all, insurance technology – or insurtech for short – […]
By Canadian Underwriter | April 22, 2017
2 min read
More than 26 years after the fatal sinking of a leaking fishing vessel north of Nova Scotia, the federal government has still not mandated water level detectors on all large fishing vessels, the Transportation Safety Board of Canada warned this week. On Dec. 12, 1990, the Nadine, a 37-metre long stern trawler, left Cap-aux-Mweules, Quebec […]
By Canadian Underwriter | April 21, 2017
4 min read
Ontario-based BlackBerry Limited is growing its footprint in the insurance industry through a new initiative with Allied World Assurance Company Holdings in which the latter’s U.S. cyber policyholders will gain direct access to the former’s cyber security expertise through an online self-assessment tool. The tool will help with identifying areas of weakness, notes a statement […]
By Canadian Underwriter | April 21, 2017
2 min read
The Centre for Study of Insurance Operations (CSIO) has announced that Optimum General Inc. has obtained CSIO certification for commercial lines eDocs. Optimum is now CSIO eDocs-certified for both of its lines of business, as the company obtained certification for personal lines eDocs in 2015, CSIO reported in a press release on Thursday. “Optimum is […]
By Canadian Underwriter | April 20, 2017
2 min read
With the exception of Millenials, all other generational groups in the United States are becoming more skeptical of self-driving technology, posing a threat to car manufacturers and technology developers, a new study from J.D. Power has found. The J.D. Power 2017 U.S. Tech Choice Study, released on Tuesday, said that compared with 2016, 11% more […]
By Canadian Underwriter | April 19, 2017
4 min read
Artificial intelligence (AI) will “significantly transform” the insurance industry in the next three years, with insurers investing in AI to empower agents, brokers and employees to enhance the customer experience with automated personalized services, faster claims handling and individual risk-based underwriting processes, according to a new report from Accenture. The Technology Vision for Insurance 2017 […]
By Canadian Underwriter | April 19, 2017
4 min read