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
4 min read
Usage-based auto insurance (UBI) is expected to grow to 142 million subscribers globally by 2023, according to a new report from IHS Automotive, a part of IHS, Inc. and a source of information and insight to the global automotive industry. According to the study, titled Auto Tech Report – Usage Based Insurance (UBI) and released […]
By Canadian Underwriter | May 9, 2016
3 min read
Economical Insurance’s new direct channel – part of an updated corporate strategy to position the company as among the top property and casualty insurers in the country – went live Monday morning. Economical Insurance has activated multi-channel distribution with the launch of the direct business, Sonnet Insurance Company. The new digital platform will initially offer […]
By Angela Stelmakowich | May 9, 2016
4 min read
For the first time, Google has announced that it will work directly with an automaker to integrate its self-driving system, including sensors and software, into a passenger vehicle. Earlier this week, Google said that it will integrate its self-driving technology into all-new 2017 Chrysler Pacifica Hybrid minivans to expand its existing self-driving test program. The […]
By Canadian Underwriter | May 6, 2016
2 min read
Clear determination of responsibility is essential to ensuring effective insurance coverage of driverless vehicles, but the “next 10 years may have less clarity about responsibility than the past 40 or 50 years,” according to a new report released on Thursday by the Insurance Institute of Canada. The report, titled Automated Vehicles: Implications for the Insurance […]
By Canadian Underwriter | May 5, 2016
4 min read
Early registration for the “cyber-safe” .insurance domain name opened on Wednesday via Instra Corporation, the corporate domain name retailer subsidiary of London, United Kingdom-based CentralNic plc. The protected domain space for the insurance industry “promises enhanced security for tens of thousands of insurance companies around the world, providing they can clear the authentication process that […]
By Canadian Underwriter | May 5, 2016
2 min read
TORONTO – Uber is voicing its thanks after Toronto city council gave the ride-hailing service the green light to operate legally in the city. In a message to those who use its app, Uber said Toronto Mayor John Tory and city council have voted to “embrace ride sharing.” After hours of debate on Tuesday, city […]
By Jason Contant | May 4, 2016
1 min read
Aviva Canada announced on Wednesday that it has developed an “affordable and convenient insurance product that would bridge the insurance gap in Quebec,” if the provincial government decides to allow ridesharing programs. Aviva Canada, a provider of home, automobile, leisure/lifestyle and business insurance, said in a press release that the coverage is independent of ridesharing […]
By Canadian Underwriter | May 4, 2016
2 min read
The multi-billion pound motor insurance industry in the United Kingdom faces a period of radical restructuring as a result of the advent of autonomously driving (AD) cars, with the number of crashes set to dramatically drop and insurance premiums set to plummet, a panel discussion organized by Volvo Cars and Thatcham Research Centre heard on […]
By Canadian Underwriter | May 3, 2016
2 min read
Insurers that lead in digital shopping channels also lead in premium growth, according to the J.D. Power 2016 U.S. Insurance Shopping Study, released on Friday. Now in its 10th year, the study measures auto insurance shopping, purchase behavior and purchase experience satisfaction among customers who recently purchased insurance. Satisfaction is measured in three factors (in […]
By Canadian Underwriter | May 3, 2016
3 min read