Tech
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
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
Operations
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
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 […]
By Greg Meckbach | June 11, 2018
3 min read
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 […]
By Jason Contant | June 11, 2018
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 […]
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 […]
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 […]
Legal / Regulation
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 […]
By Jason Contant | June 7, 2018
Canadians are less likely than others around the world to buy insurance products from “BigTech” companies such as Amazon, Facebook and Google. Not that other consumers from around the world are in a big rush to buy their insurance from BigTech. Just one in three global customers said they would be willing to buy insurance […]
By Jason Contant | June 5, 2018
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