Tech
MARKHAM, Ont. – General Motors of Canada sees Ontario’s strength in advanced technologies as strategically important for its plans for creating safe, driverless vehicles in the near future, its CEO said Friday at the launch of a new software centre north of Toronto. The new centre in Markham, Ont. – Canada’s largest automotive innovation hub, […]
By Jason Contant | January 22, 2018
2 min read
How many brokers would be willing to change how their data is organized and housed if it meant a revenue increase of 144% per employee? The goal is actually within your reach, says Michael Howe, senior vice president of product management at Applied Systems. And it all starts with simplifying your foundational management system. If […]
By David Gambrill | January 20, 2018
3 min read
Increased vehicle technology and elevated auto loss ratios are among the factors contributing to rate increases in Ontario auto, Joel Baker, president and CEO of MSA Research, told Canadian Underwriter on Thursday. “The industry is being challenged by elevated auto loss ratio across the country, including Ontario,” Baker said. “While Ontario isn’t the worst behaved […]
By Jason Contant | January 19, 2018
DETROIT – Uber plans to carry passengers in autonomous vehicles without human backup drivers in about the same time frame as competitors, which expect to be on the road at the latest sometime next year, the service’s autonomous vehicle chief said Wednesday. Advanced Technology Group leader Eric Meyhofer wouldn’t give a specific start date but […]
If you can’t beat the insurtechs, and you can’t buy them, then you may as well join them. Partnering with insurtechs may be the best way to go for most carriers and brokers lacking the resources necessary to acquire them, says Trisura Guarantee Insurance Company president and CEO Michael George. “If you have gobs of […]
By David Gambrill | January 18, 2018
The operating model for cybercrime appears to have changed, with criminals using ransomware to target smaller companies and ask for smaller currency amounts, a cyber underwriter with Beazley told Canadian Underwriter on Wednesday. Jimaan Sané said cybercriminals used to attack very large, sophisticated corporations. Because these organizations had ‘deep pockets’ — i.e. plenty of resources […]
By Jason Contant | January 18, 2018
As driverless cars become more popular, and as the focus of insurers gradually shifts from insuring vehicle owners to providing product liability for the manufacturers of autonomous vehicles, the Ontario government’s auto insurance reforms may finally be yielding some better results. “It is kind of ironic that if we are getting close to an improvement […]
By Greg Meckbach | January 17, 2018
Serge Solski, principal at AdviseAware Risk Consulting, advises brokers and other clients about technology risks — including cyber risks and coverage. He spoke to Canadian Underwriter Monday about some questions that brokers should be asking their clients to help understand their risk profile and advise on appropriate coverage. Question 1: Are wire transfers a part […]
By Jason Contant | January 17, 2018
WINNIPEG – Manitoba’s Public Utilities Board has approved new insurance rates for ride-hailing company drivers that businesses such as Uber and Lyft have said will keep them setting up shop in Winnipeg. The board has given approval to a Manitoba Public Insurance application that calls for an add-on to the drivers’ basic insurance, which would […]
By Jason Contant | January 16, 2018
Canadian property and casualty insurers must address their IT data collection systems in order to profit from more IT glamorous solutions such as chatbots, blockchain, artificial intelligence and the Internet of Things (IoT), says Sven Roehl, who facilitates The Cookhouse Lab in Toronto. The Cookhouse Lab is an insurtech open innovation lab, a forum in […]
By David Gambrill | January 15, 2018
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