Legal / Regulation
EDMONTON – The Alberta government has introduced new rules to regulate ride-hailing companies such as Uber. Transportation Minister Brian Mason says that under Bill 16, anyone who wants to drive for such a company will have to have a professional Class 4 licence. They will also have to undergo a police information check and be […]
By Jason Contant | May 18, 2016
2 min read
Driverless cars could have significant credit implications across a wide range of sectors and companies as the technology becomes more advanced and widespread in the coming years, Moody’s Investors Service said in a report released on Tuesday. Although the extensive use of self-driving vehicles is still some way off, the technology has the potential to […]
By Canadian Underwriter | May 17, 2016
3 min read
The Canadian Council of Insurance Regulators (CCIR) announced on Monday that it has published an issues paper for public consultation on electronic proof of automobile insurance (EPAI). As electronic documentation becomes more prevalent in society – be it through smart phone apps, emails, or other forms of electronic documents – many consumers and insurers would […]
The Ontario government would have the authority to make regulations mandating collision avoidance systems such as lane departure warning, in all vehicles registered starting in 2020, if a private member’s bill before the legislature is passed into law. Bill 192, the Highway Traffic Amendment Act (Keep our Roads Safer through the use of Intelligent Drive […]
By Canadian Underwriter | May 16, 2016
HR
As one of the brokerages that was “significantly affected” by the Fort McMurray wildfires, Sharp Insurance was able to contact every single one of its clients using analytics, attendees to the Insurance Analytics Canada conference heard on Friday. “We were able to review and mobilize our team and get in touch with all of our […]
By Jason Contant | May 16, 2016
Tech
Markham, Ont.-based Pembridge Insurance Company announced on Monday that they have launched My_BRIDGE, what they are calling the first telematics program offered through the broker channel in Alberta. Pembridge said in a press release that the usage-based insurance (UBI) offering was created to help reward those drivers who exhibit safe driving behaviours with discounts on […]
Data analytics needs to be seen as a continuous journey, not just a destination, and those insurers that look forward to analytics in 10 years’ time will be the most likely to succeed, a speaker suggested on Friday at the Insurance Analytics Canada conference in Toronto. “The best firms, the most successful firms on this […]
By Jason Contant | May 15, 2016
4 min read
Insurers that collect and analyze new data sources – including from sensors – could create direct links with customers, without the need for intermediaries, and promote enhanced personalization, Steve LaValle, a principal at Ernst & Young (EY), suggested during an industry event in Toronto Thursday. “In the past, we’ve been reliant upon brokers,” LaValle told […]
By Angela Stelmakowich | May 13, 2016
The emerging global market for business services using drones is valued at more than US$127 billion, according to a report released earlier this week by PricewaterhouseCoopers (PwC). The “drone revolution” is disrupting industries ranging from agriculture to filmmaking, PwC said in a news release on Monday. According to the PwC report Clarity from above, the […]
By Canadian Underwriter | May 11, 2016
IBM Security has announced that eight universities – including three in Canada – will help train its Watson computer system on the “language of security” as part of a year-long research project. Watson for Cyber Security, a new cloud-based version of the company’s cognitive technology trained on the language of cybersecurity, was announced on Tuesday […]
By Canadian Underwriter | May 10, 2016
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