Tech

Insurers have untapped opportunity to transform into solutions providers, not just sellers: consumers

Almost three-quarters of consumers taking part in a Bain & Company Inc. survey say they would value a platform for providing services well beyond insurance coverage, opening the door for insurers to transform themselves from just sellers into solutions providers. The survey of 164,421 consumers in 19 countries found that as connected insurance takes center […]

By Canadian Underwriter | September 20, 2016

5 min read

Legal / Regulation

Doubts being raised over Quebec’s legislation regulating Airbnb-type rentals

MONTREAL – Quebec is often held up as a model for other provinces to follow when it comes to regulating the growing home-sharing market, but doubts are being raised over whether recent provincial changes are having any impact. In April, the provincial government amended its tourist accommodation law in an effort to help level the […]

By Jason Contant | September 19, 2016

3 min read

Tech

Sonnet adds personal auto to digital platform

Economical Insurance’s new online direct channel, Sonnet, announced on Monday that it has added personal auto to its digital platform. Sonnet originally went live on May 9, offering personal home insurance, including homeowner tenant, condo and landlord insurance. Sonnet said in a press release that “through an understanding of shifting customer expectations, advanced third-party data, […]

By Canadian Underwriter | September 19, 2016

3 min read

Worldwide public cloud services market to grow 17% to US$208.6 billion in 2016: Gartner

The worldwide public cloud services market is projected to grow 17.2% in 2016 to total US$208.6 billion, up from US$178 billion in 2015, according to Gartner, Inc., a Stamford, Conn.-based information technology research and advisory company. Gartner said in a press release on Thursday that the highest growth will come from cloud system infrastructure services […]

By Canadian Underwriter | September 15, 2016

3 min read

Majority of businesses and economies not ready for digital platforms: Accenture

The majority of businesses and economies are not ready for digital platforms, according to a new report released on Tuesday by global professional services company Accenture. Accenture’s report Five Ways to Win with Digital Platforms, published in collaboration with the G20 Young Entrepreneurs’ Alliance, assessed the ability of 16 G20 economies, including Canada, to support […]

4 min read

Uber gives riders a preview of the driverless future

PITTSBURGH – Uber riders in Pittsburgh can get a glimpse of the future by summoning a car capable of handling most of the tasks of driving on its own. Starting Wednesday morning, a fleet of self-driving Ford Fusions will pick up Uber riders who opted to participate in a test program. While the vehicles are […]

By Jason Contant | September 14, 2016

5 min read

New mobile app issues verbal safety warnings to Edmonton drivers

The City of Edmonton has launched a new mobile app that warns drivers of school zones, speed limit changes and high collision locations. City of Edmonton Councillor Dave Loken said in a press release from the city on Monday that the free SmartTravel app gives drivers “verbal warnings that can save them from getting tickets. […]

2 min read

Autonomous vehicles may reduce U.S. motor premiums by more than 40% by 2050: Aon Benfield

Autonomous vehicles may reduce motor pure premiums in the United States by more than 40% by the time they “reach full adoption in 2050,” according to a recent Global Insurance Market Opportunities report from Aon Benfield. Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released the report on Sunday. Titled Riding […]

3 min read

AIG Innovation Challenge for Canadian-based startups in Toronto on Dec. 9

AIG Canada, in partnership with the Consulate General of Canada in San Francisco and Silicon Valley, will be hosting the AIG Innovation Challenge on Dec. 9 in Toronto. AIG Canada will select 10 Canadian-based startups to pitch their products, services and technologies to a panel of AIG executives and members of its Global Innovation Team, […]

1 min read

Industry must more effectively harness potential of satellite, drone and aerial technologies: Guy Carpenter’s head of cat planning & response

Advances in the development of “visual intelligence” based on multiple data sources, including satellite imagery and drone footage, have the potential to significantly enhance claims and catastrophe response processes and underwriting decision making when companies harness that potential effectively, according to Dr. Beverley Adams, head of CPR (catastrophe planning & response) at Guy Carpenter. “The […]

3 min read