Tech
We often hear how the property and casualty insurance industry is slow to adopt technology, but is it possible the industry is actually becoming overly reliant on technology? Yes, said Neil Mitchell, CEO of Player’s Health Cover and former managing director of Marsh Canada. While technology is providing a positive effect, it is also commoditizing […]
By Jason Contant | September 23, 2018
3 min read
Operations
Artificial intelligence could help a brokerage figure out how likely a prospective client is to actually buy insurance. At least that’s what officials with Surex Direct are hoping. Magreth, Alta.-based Surex Direct places home, auto and commercial lines and says it can deliver 10 quotes online in 10 minutes or less. If a person gives […]
By Greg Meckbach | September 20, 2018
2 min read
Being able to quickly identify a “true” customer compared to a synthetic identity created by a cybercriminal can help insurers tailor offerings to the right customers early in the account creation process, a security engineer said Friday. “If you know it’s a form of automation… then what you can do is put some blockages in […]
By Jason Contant | September 17, 2018
GENEVA – More than half of all workplace tasks will be carried out by machines by 2025, organizers of the Davos economic forum said in a report released Monday that highlights the speed with which the labour market will change in coming years. The World Economic Forum estimates that machines will be responsible for 52 […]
Police in Ontario are warning municipalities about a rash of cyberattacks targeting local governments in which hackers demand a ransom in exchange for access to systems. Ontario Provincial Police did not provide firm numbers on the ransomware incidents but say there have been several such attacks on businesses and municipal offices in recent months. One […]
By Jason Contant | September 14, 2018
1 min read
MONTREAL – Security-minded consumers will soon have access to a free app designed to protect their data from cybersecurity threats. The digital app, called Protection, is designed to help users detect security breaches and scamming attempts in their emails, texts and other apps, as well as give tips to prevent future hacks. Created by a […]
By Jason Contant | September 12, 2018
Legal / Regulation
Legislation on autonomous vehicles needs to be ironed out well in advance of these vehicles becoming mainstream to prevent insurance payout disputes before an injured party receives compensation, an insurance lawyer said recently. Jonathan Grnak, an insurance lawyer with Danson Recht LLP in Toronto, noted in the current auto insurance regime, an insurer will not […]
By Jason Contant | September 11, 2018
Canadian provinces seeking guidance on addressing liability issues of autonomous vehicles could look to the United Kingdom as an example, an insurance lawyer told Canadian Underwriter Friday. The UK has a bill in the reading stages that, if passed, would implement changes to the equivalent of Ontario’s Highway Traffic Act to ensure autonomous vehicles are […]
By Jason Contant | September 10, 2018
Guidewire Software Inc. is “not interested” in building a services organization and is touting its new analytics and data services group to insurance buyers. The new analytics and data services group – formed after the acquisition in 2017 of modelling provider Cyence Inc. – could potentially offer new products that do not necessarily require customers to […]
By Greg Meckbach | September 10, 2018
The importance of obtaining cyber insurance has again hit home, following the release of a report that found by mid-2018, Canada was the country with the third most cyber incidents in the world and ninth most exposed records. Last month, Risk Based Security in Richmond, Va. reported data as of June 30 showing the United […]
By Jason Contant | September 7, 2018
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