Tech

Global UBI market to reach US$123 billion by 2022, upsurge in demand expected from Canada and U.S.: report

The global usage-based insurance (UBI) market is expected to garner US$123 billion by 2022, growing at a compound annual growth rate of 36.4% from 2016 to 2022, according to a new report from Allied Market Research (AMR). According to the report, the short title of which is Usage-Based Insurance Market by Service Type, North America […]

By Canadian Underwriter | November 23, 2016

2 min read

Tech

Global Aerospace reports drone insurance covering invasion of privacy, malicious damage ‘easier to obtain’

Insurance carriers will expand their coverage of unmanned aircraft systems, or drones, while the absence, in the United States, of airworthiness certification requirements imposes a “considerable amount of diligence” on property and liability insurers covering drones, Global Aerospace Inc. suggested in a recent white paper. Some insurers “offer comprehensive coverage for physical damage to owned, […]

By Canadian Underwriter | November 22, 2016

3 min read

Blockchain technology a source of both disruption and opportunity for insurers: Novarica

Blockchain technology will be a source of both disruption and opportunity for insurers, according to a new report from Boston-based research and advisory firm Novarica. In its latest executive brief, released on Monday, Novarica predicted that the technology would have a “significant long-term impact on insurers across the board.” When Novarica published its 2015 report […]

By Canadian Underwriter | November 21, 2016

2 min read

Tech

335 impaired drivers in Saskatchewan caught by police during October blitz: SGI

Saskatchewan Government Insurance (SGI) announced on Monday that 335 impaired drivers were stopped during the province-wide focus on impaired driving in October. The blitz involving SGI and law enforcement officers included 335 offences related to impaired driving, including 314 Criminal Code of Canada charges (impaired driving, blood alcohol content (BAC) over .08 or refusing a […]

By Canadian Underwriter | November 21, 2016

2 min read

Veniam, StarHub partner to create connected vehicle mesh network in Singapore, bolster Internet availability

Tech company Veniam has signed its first-ever collaboration agreement in Asia with info-communications provider StarHub to create a connected vehicle mesh network in Singapore by transforming thousands of connected vehicles into mobile Wi-Fi hotspots. Veniam’s aim “is to connect thousands of buses, taxis and autonomous vehicles to operate as a vehicle mesh network, thereby expanding […]

2 min read

Capgemini launches global fintech initiative

Capgemini has announced that it is launching a global fintech initiative “to fast track fintech engagements with its global financial services clients.” Capgemini – a provider of consulting, technology and outsourcing services – announced the initiative on Wednesday, saying in a statement that it will “bring together its domain and integration expertise to scan, select, […]

2 min read

Nearly seven in 10 Canadian drivers using winter tires: study

Nearly seven in 10 Canadian drivers are adopting the use of winter tires, according to a new survey by Leger for the Tire and Rubber Association of Canada (TRAC). Outside of Quebec, where use of winter tires is the law, 68% of Canadian drivers now use winter tires, TRAC said in a press release on Wednesday. The results […]

3 min read

Claims systems transformation requires rethinking metrics, processes and role of emerging tech: Novarica

Before setting out on claims transformation efforts, property and casualty insurers should establish clear strategic goals and success metrics, consider the ways in which the claims process is changing and understand the potential impact of emerging technologies like medical analytics and the Internet of Things (IoT), Novarica said in a new report. Research and strategic […]

2 min read

Advanced analytics and other emerging technologies revolutionizing public sector agencies: Accenture

Advanced analytics and other emerging technologies are revolutionizing the way governments and public service agencies are trying to address citizen demands, helping to overcome persistent challenges such as regulatory compliance, outdated legacy IT infrastructures and organizational cultures, according to a new research report from Accenture. Accenture’s report, titled Smart move: Emerging technologies make their mark on […]

4 min read

TSB recommendation for backup safety defences for rail signal indications ‘outstanding for over 10 years’

The Transportation Safety Board of Canada reiterated Tuesday a recommendation that Transport Canada and the rail industry “implement additional backup safety defences” in order to ensure train crew members recognize and follow block signals that govern train movements. On Nov. 28, 2000, TSB released a report on a collision Aug. 11, 1998 between two freight […]

4 min read