Tech
JERUSALEM – As the world moves toward an era of self-driving cars, Israel is positioning itself to be the Detroit of the future. The country has emerged as a global leader in the fast-growing field of driverless cars, as illustrated by Intel’s more than $15 billion acquisition of Israeli firm Mobileye this week. Israel is […]
By Canadian Underwriter | March 17, 2017
4 min read
The lion’s share of insurance companies taking part in a KPMG International-commissioned survey plan to make acquisitions in 2017, with most respondents saying their companies are being driven by need to transform business and operating models. The insurance sector looks to be shifting deal-making into high gear, KPMG International noted this week, reporting that 84% […]
A new survey out of the United States exploring the sentiments of older drivers 65 and over shows about half of the respondents would not be comfortable riding in an autonomous vehicle, but they see great value in active safety features. “Older drivers are increasingly comfortable with and recognize the benefits of active safety technology, […]
By Canadian Underwriter | March 15, 2017
3 min read
The largest Canadian platform for insurance reviews has launched independent consumer reviews for mortgage and credit card products, InsurEye announced Wednesday. “Our platform has already been offering nearly 3,000 home, auto and life insurance reviews to inform Canadian consumers about the pros and cons of insurance,” Alexey Saltykov, co-founder and CEO of InsurEye, says in […]
2 min read
The majority of chief compliance officers (CCO) in the United States taking part in a KPMG LLP survey are struggling to integrate and automate compliance activities across their organizations. Six in 10 polled CCOs report “their company’s technology infrastructure has not been analyzed to confirm it aligns with compliance requirements or they were unsure of […]
By Canadian Underwriter | March 14, 2017
Mobileye N.V., whose vehicle-mounted technology is designed to anticipate collisions, has agreed to be acquired by microprocessor manufacturer Intel Corp. Intel said Monday that one of its subsidiaries “will commence a tender offer” to acquire Mobileye shares for US$63.54 in cash, for an “enterprise value” of about US$14.7 billion. MobilEye is incorporated in the Netherlands […]
By Canadian Underwriter | March 13, 2017
Scotiabank’s $2 million funding injection seeks to support the ability of the Scotiabank Cybersecurity and Risk Analytics Initiative at the University of British Columbia (UBC) to accelerate cyber security and financial risk research in Canada. “Data theft costs organizations billions of dollars a year worldwide, and cause psychological and social harm for individual customers,” Michael […]
Legal / Regulation
SACRAMENTO, Calif. – Uber’s self-driving cars will return to California’s streets, though the ride-hailing company doesn’t immediately plan to pick up passengers. Uber received a permit Wednesday to test two Volvo SUVs on public roads, the California Department of Motor Vehicles said. Regulators also approved 48 people as backup drivers who must sit behind the […]
By Jason Contant | March 10, 2017
ATB Financial announced Thursday that the Alberta-based financial services provider has joined the consortium of financial innovation firm R3 to design and apply distributed and shared ledger-inspired technologies to global financial markets. The company will be collaborating with more than 75 of the world’s largest financial institutions, notes a statement from ATB Financial, Alberta’s largest […]
By Canadian Underwriter | March 10, 2017
The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying competitive in a digital world will require far more than the addition of a direct […]
By Canadian Underwriter | March 9, 2017
5 min read
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