Tech
As payment systems continue to modernize globally and locally, one Canadian insurer says it is hoping to explore opportunities related to its payment infrastructure. While it is not currently using ISO 20022, an international standard that supports electronic payments, Aviva Canada said it is aware of the standard and hoping to explore opportunities in the […]
By Jason Contant | February 22, 2018
2 min read
Newer technology in vehicles is creating the need for a different skill set in collision repair facilities, something that could ultimately affect vehicle repair times for insurers. “This technology that is in the car now from a safety perspective brings in a new skill set that really doesn’t exist in the industry today, which is […]
By Jason Contant | February 21, 2018
Addressing the entire vehicle safety system after an auto collision, and not just one component like a sensor, may be contributing to longer auto repair times and higher costs for insurers, Mitchell International said Thursday. Jerry Gastineau, content manager with Mitchell’s editorial department, told Canadian Underwriter the mere fact that a sensor is in a […]
By Jason Contant | February 20, 2018
Artificial intelligence (AI) could be a double-edged sword for Canada’s property and casualty insurance industry, offering several potentially positive outcomes, but at the same time a new cybersecurity threat. AI is consistently touted by the insurance industry for its potential to process claims faster, improve underwriting, and better identify fraud. It can even be used […]
By Jason Contant | February 19, 2018
Legal / Regulation
VICTORIA – Ride-hailing is on its way to British Columbia after the online services received the unanimous support of an all-party committee of the legislature on Thursday. The committee made 32 recommendations to help pave the way for introducing and regulating ride-hailing. Committee chairwoman Bowinn Ma of the NDP said the recommendations balance the importance […]
3 min read
Competition nowadays for a space on a consumer’s smartphone screen is fierce. We all hear stories of the so-called “killer apps” — they seem to be on everyone’s device, set record download numbers, and propel their creators to fame and, quite often, fortune. So, the killer question: is it realistic for an insurance organization to […]
February 16, 2018
CEOs, not chief information officers (CIOs), should be making the call on whether to report a data breach when a company falls victim to a targeted cyberattack, a former privacy commissioner told a cyber loss management seminar organized by Crawford & Company (Canada). While some companies may have their CIOs making such a determination, the […]
By David Gambrill | February 15, 2018
Restrictions imposed on how insurers price usage-based insurance pricing (UBIP) are hampering innovation in the insurance industry, the Insurance Bureau of Canada (IBC) told Canadian Underwriter Monday. Canadian Underwriter asked IBC on Monday for examples of red tape that could be cut in the industry to help increase innovation. One example is that Ontarians should […]
By Jason Contant | February 14, 2018
As insurers move away from their legacy systems and onto more flexible platforms such as Guidewire and Duck Creek, the days appear numbered for portal solutions. Real-time data exchange is now front and center as a priority for the Insurance Broker Association of Canada (IBAC), the national broker association announced Tuesday. The current work towards […]
By David Gambrill | February 13, 2018
TORONTO – General Motors Co. is bringing its Maven car-sharing business to Canada for the first time as part of the Detroit-based company’s broader strategy for navigating through a rapidly changing automotive world. Toronto will be the first city outside of the United States to offer GM’s Maven City app-driven service, which has grown rapidly […]
By Jason Contant | February 13, 2018
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