Tech

Get ready for the ‘internet of cows’: Farmers use technology to shake up agriculture

MONTREAL – Get ready for the “internet of cows.” Generations of farmers have relied on knowledge and family expertise to grow food, but the sector is set for a surge of disruption at the hands of made-in-Canada artificial intelligence-powered systems. AI is now helping farmers across the country to increase yields, save costs and minimize […]

By Jason Contant | June 19, 2018

4 min read

Tech

One way of predicting whether a computer will take your job

Despite a general consensus that many insurance tasks traditionally performed by humans will soon be done by computers, software still lacks some key human attributes, speakers said Wednesday at an industry panel. “If you are good at following and memorizing the rules, there is going to be a computer that replaces you,” said Adam Mitchell, […]

By Greg Meckbach | June 15, 2018

2 min read

Tech

A new tool for small businesses in the fight against cybercrime

The federal government has unveiled its National Cyber Security Strategy, with which it will establish a voluntary, recognizable certification intended to enable small- and medium-sized enterprises (SMEs) to demonstrate to both businesses and consumers that they meet a baseline set of security practices. As part of a renewed cybersecurity framework, Innovation, Science and Economic Development […]

By Jason Contant | June 14, 2018

2 min read

Operations

Are independent brokerages in Canada adopting digital technology?

While independent brokerages in four countries (including Canada) are not fully embracing digital technology in 2018, Canadian brokerages are showing an increased adoption of cloud hosting, according to a new annual report from software vendor Applied Systems. Applied released Tuesday the results of its 3rd annual Applied Digital Brokerage Survey, which found that the average […]

By Jason Contant | June 13, 2018

2 min read

Google, Big 4 accounting firm dive into omnichannel insurance game

Google and KPMG LLP are targeting insurers with clients who want to communicate in a variety of ways – whether by phone, email, text message or even snail mail. KPMG recently announced Intelligent Interactions, available now, which KPMG is offering over the Google Cloud Platform (GCP). GCP encompasses a wide variety of technology applications including […]

3 min read

How fast are standalone cyber premiums growing in Canada?

Standalone cyber insurance premiums in Canada are expected to be worth about $68 million in 2020, an increase at a compound annual growth rate of 15.8% relative to the 2016 estimate, Finaccord said Monday. Alan Leach, director of the London, England-based international financial services market research and consulting company, told Canadian Underwriter that “this refers […]

2 min read

How are your clients finding you? Follow the voice…

Using voice search is a key way for brokers to remove friction from the purchase process, Andrew Lo, president and CEO of Kanetix Ltd., said last week at Insurance Canada.ca’s Technology in Action seminar in Toronto. Lo used the example of a Google Home smart speaker that he used for a car insurance quote. Kanetix […]

3 min read

From days to minutes: New tech overhauls quote and bind process

The launch of the new broker technology Vyne will eliminate some of the “inefficient steps” that brokers have to take between quoting and binding, potentially reducing the quote and bind process from days or weeks to just minutes, the company says. Prior to the launch of its real-time technology, the process from quote to bind […]

3 min read

How telematics affected this insurer’s loss ratio

Could Canadian insurers cut auto claims costs by 15% by using telematics? Perhaps, if they could somehow import the experience of European insurers. An unnamed European insurer compared its auto insurance customers who were using telematics with its customers who were not, Nino Tarantino, North American CEO for Octo, said in an interview Thursday with […]

3 min read

Privacy Commissioner gives brokers more ammunition to sell cyber policies

Canada’s privacy commissioner is looking to add some bite to the country’s federal privacy laws. And if you need another reason to keep cyber insurance top of mind for your clients, look no further than a recent survey from the Office of the Privacy Commissioner, which found that half of Canadian executives have little or […]

2 min read