Major upheavals within many insurers' underlying systems are necessary to answer the changing needs of the insurance world and the changing demands of consumers. Brokerages, in turn, will need to stay current with broker management system software releases to both access new connectivity capabilities and be able to offer the full set of data required by insurers.
April 1, 2017
7 min read
Worldwide spending on security technology is forecast to reach US$81.7 billion this year, according to a recently released guide from International Data Corporation (IDC), a global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology markets. The update to the Worldwide Semiannual Security Spending Guide, released earlier this […]
By Canadian Underwriter | March 31, 2017
3 min read
Artificial intelligence (AI) and the Internet of Things (IoT) now account for almost half of total investment in insurance technology (insurtech) startups globally, according to new research from global professional services company Accenture. The research, which includes new analysis of CB Insights data on 150 insurtech deals over the last three years, was released on […]
By Canadian Underwriter | March 31, 2017
3 min read
Mutual insurers need a long-term plan to ensure they meet the twin goals of capitalizing on the opportunities that data offers and continue to staying true to serving customers, the head of the Ontario Mutual Insurance Association (OMIA) suggested Thursday. “You can’t just get data from your own risks,” OMIA president and CEO John Taylor […]
By Angela Stelmakowich | March 31, 2017
3 min read
Justin Trudeau has announced a joint federal and Ontario government investment in the Ford Motor Company of Canada, part of which will help establish a new research and engineering centre focusing on connectivity research and development. Prime Minister Justin Trudeau announced the investment of $102.4 million to Ford Canada in a statement on Thursday. The […]
By Canadian Underwriter | March 30, 2017
2 min read
The Office of the Privacy Commissioner of Canada will soon be funding an arms-length project to develop a code of practice for connected cars, weighing a balance between information flow and privacy protection. “The benefits available to Canadians through the arrival of connected and autonomous cars may be significant,” Privacy Commissioner of Canada Daniel Therrien […]
By Canadian Underwriter | March 30, 2017
3 min read
Silicon Valley Insurance Accelerator (SVIA) announced on Thursday the launch of its InsurTech Innovation Lab, which can “fast track projects from simple proof of concepts to standing up complete solutions, products and even companies.” The research, design and development centre is available to insurance companies, insurtech startups and established solution providers through SVIA’s membership program, […]
By Canadian Underwriter | March 30, 2017
2 min read
DETROIT – Ford is recalling more than 570,000 vehicles in North America and Europe to fix separate problems that can cause engine fires and doors to fly open unexpectedly. The recalls will hit the company’s bottom line in the first quarter of this year. Ford said in a Wednesday filing with securities regulators that the […]
By Jason Contant | March 29, 2017
3 min read
Two in five computers around the globe related to the technological infrastructure of industrial enterprises faced cyberattacks in the second half of 2016, according to cybersecurity company Kaspersky Lab. Research from Kaspersky released on Tuesday showed that the percentage of industrial computers under attack grew from over 17% in July 2016 to more than 24% […]
By Canadian Underwriter | March 29, 2017
3 min read
Polled Canadian organizations are struggling to keep up with constant technology change despite executives viewing digital strategy, cyber security and data analytics as quite or highly important skills to their businesses, notes a new report issued Wednesday by PricewaterhouseCoopers (PwC) Canada. “Canadian organizations need to focus on their people to redefine digital transformation, rethink their […]
By Canadian Underwriter | March 29, 2017
4 min read