Tech

City of Toronto announces road safety plan for 2017, including 76 new red light camera sites

The City of Toronto has announced its Vision Zero Road Safety Plan for 2017, which includes 45 new measures that will be introduced this year targeted at eliminating fatalities and reducing serious injuries, with an emphasis on pedestrians, aggressive and distracted driving, school children, older adults and motorcyclists. Toronto Mayor John Tory and city councillor […]

By Canadian Underwriter | January 11, 2017

2 min read

Tech

Business interruption replaces cyber as top business risk for Canadian respondents to Allianz Risk Barometer

The risk of cyber incidents has plummeted from first to fifth place among Canadian respondents in an annual survey by Allianz of the most important business risks, while more than one in seven Canadian respondents identified quality deficiencies, serial defects and product recall as one of the top business risks. Allianz Global Corporate & Specialty […]

By Canadian Underwriter | January 11, 2017

3 min read

Tech

Ontario brokerage Smith & Associates Insurance consolidates with The Standard Insurance Brokers

Thunder Bay, Ont.-based brokerage Smith & Associates Insurance has announced its consolidation with The Standard Insurance Brokers, effective Tuesday. This consolidation will allow both organizations to offer a broader scope of products to clients, enhance their long established relationships with current insurance partners and pursue new technology and digital solutions, Smith & Associates said in […]

By Canadian Underwriter | January 10, 2017

2 min read

Tech

New transaction laundering detection service released by Trustwave

Trustwave has expanded its suite of merchant risk management services with the release of a transaction laundering detection (TLD) service designed to helping with monitoring and managing associated risk. The product is designed for acquiring banks, payment processors, payment gateways and independent sales organizations (ISOs), notes a statement Monday from Trustwave, which uses cloud and […]

By Canadian Underwriter | January 9, 2017

1 min read

X by 2 enters Canadian market with formal subsidiary, office

Technology consultancy X by 2 has expanded its footprint by taking its first-ever step into Canada, a move meant to beef up service to its growing client base in the Canadian insurance market. Focused on the practice of architecture for the insurance and healthcare industries, the company announced Monday it has created a subsidiary, X […]

1 min read

Carpooling apps could reduce traffic 75% in New York City and help with pollution, energy usage: MIT study

Using carpooling options from companies like Uber and Lyft could reduce the number of vehicles on the road in the New York City by a factor of three without significantly impacting travel time, according to a new study from the Massachusetts Institute of Technology (MIT). Led by Professor Daniela Rus, director of MIT’s Computer Science […]

3 min read

Internet of Things spending to reach US$1.29 trillion by 2020, insurance industry to see fast spending growth: report

Worldwide spending on the Internet of Things (IoT) was forecast to reach US$737 billion in 2016 and grow at a compound annual growth rate (CAGR) of 15.6% from 2015-2020 to US$1.29 trillion, according to the International Data Corporation (IDC). The Framingham, Mass.-based IDC, a global provider of market intelligence, advisory services and events for the […]

4 min read

U.S. consumers excited about “connected living,” but concerned about identity theft, cyberattacks and privacy issues: study

While consumers in the United States are excited by the progression toward “connected living,” they are also concerned about identity theft, cyberattacks and privacy issues, according to a new report from Assurant, Inc., a global provider of risk management solutions. The whitepaper, titled The Connected Future: Navigating Promise and Risk and released on Thursday at […]

2 min read

Brokerage tech adoption increases by 12% across Canada: CSIO

Brokerage adoption of nine key technologies has risen by 12% across Canada to a new high of 69%, according to the Centre for Study of Insurance Operations (CSIO). The announcement on Wednesday kicks off the second year of CSIO’s Technology Scorecard, which compares brokerage adoption against the provincial average for the following technologies: eDocs, CSIOnet, […]

2 min read

26% of Canadians looking forward to driverless cars, many neutral, new Kanetix survey finds

Slightly more than one in four (26% of) Canadians said they “couldn’t wait” for the day when driverless cars would become a reality, according to newly released survey results from Kanetix.ca, an online comparison site for insurance, mortgages and credit cards. The latest survey, released on Wednesday, is similar to last year’s results, which found […]

3 min read