Tech
Milwaukee-based insurtech company TechCanary has incorporated in Canada, with headquarters in Laval, Que. and an eye to opening another office in Toronto. TechCanary CEO and co-founder Reid Holzworth told Canadian Underwriter Tuesday that “it’s not planned yet, but we’ll open an office in Toronto as well.” He anticipates this will happen within the next year […]
By Jason Contant | August 1, 2018
2 min read
Operations
Insurance carriers selling through brokers should share, with competitors, some of the software they make to exchange data with brokers’ computer systems, speakers suggested Wednesday at the Data Exchange (D/X) launch. “We need to communicate more quickly and efficiently with our brokers,” said Marc Lipman, chief operating officer of American International Group Inc.’s Canadian branch. […]
By Greg Meckbach | August 1, 2018
Brokers can aid their clients by raising awareness of the common tactics of cybercriminals, as well as by advising their clients to be careful about with whom they share their personally identifiable information (PII). Zac Cohen, general manager of Vancouver-based identity verification provider Trulioo, spoke to Canadian Underwriter Friday about what can be learned from […]
By Jason Contant | July 31, 2018
The trick to getting blockchain to work in the insurance space is getting all the players in the market to align and agree on common standards and a way to govern the blockchain, Aon Benfield’s chief information officer said Friday. “There’s a massive efficiency play there if you can get alignment across the different parties […]
3 min read
One of the “disruptive promises” of blockchain is the ability to use it for insurance, and Canada’s largest insurer confirmed recently that it is exploring its potential. Thus far, however, blockchain “is still [a research and development] project” at Intact Insurance, Jean-François Larochelle, director of Intact’s data lab, said during a recent webinar. Software maker SAP AG […]
By Greg Meckbach | July 29, 2018
Intact Insurance has launched its new Commercial Property and Liability insurance Quick Quote, a tool designed to give small business owners an insurance quote on their business in about three minutes. The online commercial property and liability quoting tool follows the launch of the company’s Commercial Auto Quick Quote in May. “The beauty of the […]
By David Gambrill | July 26, 2018
CALGARY – A crime-scene-type tool is being used by an Alberta university to help investigators looking into the cause of wildfires, arsons and oil spills. Gwen O’Sullivan of Mount Royal University in Calgary said the $550,000 mass spectrometer separates complex mixtures and can detect chemical compounds at very low levels. She says that makes it […]
By Jason Contant | July 25, 2018
Legal / Regulation
B.C.’s provincial government will introduce legislation to enable ridesharing in the province by fall of 2019, prompting the industry’s private insurers to say they can provide ridesharing insurance faster and better than the province’s public insurer. B.C.’s Ministry of Transportation and Infrastructure said in a press release last week that the government expects applications from […]
By Jason Contant | July 24, 2018
The use of telematics in pricing auto insurance is going to become more “prevalent,” and a major property and casualty insurer is trying to use the technology to get a better idea of driver risk, speakers said during a recent webinar. Intact Insurance is trying to get beyond the use of proxies for determining risk […]
By Greg Meckbach | July 24, 2018
Canadian P&C insurance companies have entered a transitional technology phase that will see data from their legacy systems get transferred online. “We are in a hybrid-cloud paradigm,” Frank Attaie, vice president of cloud and software at IBM Canada, told Canadian Underwriter Monday. One part of the hybrid model refers to core computer or “legacy” systems, […]
By David Gambrill | July 24, 2018
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