Tech
Opportunity exists to automate tasks, allowing you to generate new business by working smarter and not harder. Here are some quick and easy ways to use technology to your advantage
May 1, 2018
1 min read
Ontario brokers have garnered the support of at least 16 insurance companies and “all key broker technology vendors” to participate in a study on data connectivity. The study includes discussion about an Application Programming Interface (API) tech model that would connect brokerages with carriers. The Insurance Brokers Association of Ontario (IBAO) announced earlier this year […]
By David Gambrill | April 30, 2018
3 min read
Legal / Regulation
Only one province in Canada officially accepts electronic proof of auto insurance right now, but industry scuttlebutt suggests police are already accepting them in some quarters, and Ontario will soon be in line to accept the electronic slips. “Word on the street” is that some police officers in Ontario are already accepting electronic proof of […]
By Greg Meckbach | April 27, 2018
2 min read
Operations
Saskatchewan Government Insurance (SGI) has purchased a 15% stake in a Calgary-based online brokerage, a move designed to help the insurer develop real-time data exchange capabilities to sell products online. “This is an investment in a brokerage, not an acquisition,” SGI president and CEO Andrew Cartmell told Canadian Underwriter Friday. “We are always exploring partnerships […]
By Jason Contant | April 27, 2018
Canada’s insurers are developing a framework for insuring automated vehicles that is designed for handling auto claims quickly, regardless of whether tort liability arises from human error or a manufacturing defect in the automated vehicle. “We all know the automated vehicle revolution is coming with major ramifications for auto insurance,” David McGown, senior vice president […]
By David Gambrill | April 26, 2018
In the not-too-distant future, machine learning techniques will fundamentally change the way corporate boards of directors are chosen, with shareholders being the beneficiaries, a recent study has predicted. The study, Selecting Directors Using Machine Learning, involved the use of a machine learning algorithm to identify which directors were likely to be unpopular with shareholders, according […]
By Jason Contant | April 23, 2018
Clients buying cyber insurance can only be prepared for the risk of a computer security breach if senior executives practice beforehand, a commercial insurer executive told Canadian Underwriter Friday. Corporate clients need to hold “table top exercises,” meaning they gather not only computer professionals but senior executives in a room, said Dan Trueman, global head […]
By Greg Meckbach | April 23, 2018
Brokers selling commercial insurance need to ask clients what they use their computers for and what happens if they lose access to that data, an executive with a Bermuda insurer says. Computer security (also known as cyber) risk, “will impact every type of business eventually,” Dan Trueman, global head of cyber for Bermuda-based commercial insurer […]
By Greg Meckbach | April 20, 2018
HR
A new survey from Willis Towers Watson (WTW) has found that half of Canadian employers believe that work automation will result in job losses, a finding echoed recently by a Canadian property and casualty insurance executive. In November 2017, RSA Canada president and CEO Martin Thompson estimated that technological automation will change the composition of […]
By Jason Contant | April 19, 2018
Properly-trained employees are critical to managing cyber risk, especially with the nation-wide breach reporting law taking effect this fall, brokers and risk consultants told insurance professionals at a recent conference. On November 1, several new sections – including one mandating privacy breach reporting – of the federal Personal Information Protection and Electronic Documents Act take […]
By Greg Meckbach | April 19, 2018
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