WASHINGTON – All new cars and light trucks would be able to talk wirelessly with each other, with traffic lights and with other roadway infrastructure under a proposal released Tuesday by the Department of Transportation. Officials say the technology holds the potential to dramatically reduce traffic deaths and transform driving. Vehicle-to-vehicle communications, or V2V, enables […]
By Jason Contant | December 13, 2016
3 min read
Fintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said in a press release on Monday that growth would be driven by a combination of […]
By Canadian Underwriter | December 13, 2016
2 min read
Chubb announced on Tuesday that it has introduced Cyber COPE, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. Authored by Ross Cohen, director of cyber/privacy services at Chubb, the advisory outlines how the COPE methodology – used by property underwriters for […]
By Canadian Underwriter | December 13, 2016
3 min read
WeGoLook LLC has “discussions ongoing” with several Canadian insurance carriers, the Oklahoma City-based firm’s chief executive officer told Canadian Underwriter Monday. WeGoLook provides “an array” of insurance services for automobiles, accident scenes, damaged property, document retrieval, salvage and courier services, the firm reports. WeGoLook retains “lookers,” who are contractors that have temporary and discrete work […]
By Canadian Underwriter | December 12, 2016
3 min read
Emergency Management BC (EMBC) announced on Friday its endorsement of a one-year pilot project for the use of unmanned aerial vehicles (UAVs or drones) by search and rescue crews in Coquitlam and Kamloops. Minister of State for Emergency Preparedness Naomi Yamamoto announced the endorsement, the provincial Ministry of Transportation and Infrastructure said in a press […]
By Canadian Underwriter | December 12, 2016
2 min read
Data breaches involving personal and health-related information are a “huge risk for those in the insurance industry” given that the shelf-life of the data likely runs as long as the affected individual remains alive, Kevvie Fowler, national leader of cyber response for KPMG in Canada, suggested at an industry event last week. The sobering observation […]
By Canadian Underwriter | December 12, 2016
4 min read
Small-medium businesses (SMBs) with less than 10 employees – or nearly 80% of all firms in the United States – have “significantly negative views of insurers and employee benefits providers, creating an opportunity for new, innovative business models, products and processes from existing and new start-ups,” new research from Majesco has found. Majesco, a global […]
By Canadian Underwriter | December 9, 2016
3 min read
The insurance industry as a whole needs to focus more on long-term issues, Neville Henderson, the assistant superintendent of the insurance supervision sector of the Office of the Superintendent of Financial Institutions (OSFI), suggested on Wednesday. Speaking at KPMG’s 25th Annual Insurance Conference at the Metro Toronto Convention Centre, Henderson told attendees that the industry […]
By Jason Contant | December 9, 2016
3 min read
Northbridge General Insurance Corporation is writing an auto policy for RideCo, which provides what RideCo calls “personalized, express transit service” in the Kitchener-Waterloo, Ontario area, Northbridge Insurance announced Thursday. “The Northbridge Insurance policy is issued to RideCo, with both RideCo, RideCo drivers and vehicle owners as named insureds,” wrote a spokesperson for Northbridge, owned by […]
By Canadian Underwriter | December 8, 2016
2 min read
Online insurance company belairdirect has launched a new home insurance “quick quote” tool aimed at reducing the amount of time customers typically spend obtaining such a quote. Belairdirect said in a press release on Thursday that tool, “accessible through any web browser or smartphone, can generate an accurate quote in a matter of minutes by […]
By Canadian Underwriter | December 8, 2016
2 min read