Tech
Almost all (99%) of U.S. business professionals surveyed in the third part of Intermedia’s 2017 Data Vulnerability Report admitted to doing at least one potentially dangerous action that increased the likelihood of a workplace data breach. These risky actions included sharing login credentials, storing passwords on computer desktops, sending sensitive or confidential client information to […]
By Canadian Underwriter | December 14, 2017
3 min read
Looking to build a new chatbot to connect with your consumers? Chatbots are computer programs that simulate natural conversation with humans. Insurance organizations of all types — insurers, brokerages, and claims operations — have expressed interest in chatbots to provide instantaneous responses to simple inquiries, handing off the conversation to staff to complete a transaction. […]
By Canadian Underwriter | December 13, 2017
For all of the discussion about artificial intelligence, big data and the Internet of Things (IoT), in the real world of IT, Canadian property and casualty insurance companies are currently investing in projects that will allow their core legacy technologies to provide more consumer-centric services in the future. “We always look to the future to […]
By Greg Meckbach | December 13, 2017
Aviva Canada will be the official commercial automobile insurance provider for the California-based ride-sharing program Lyft, which is anticipated to start operations in Canada this month. Aviva will cover Lyft through a commercial insurance fleet policy. Coverage and limits vary, depending upon four different phases of the commercial transaction — 1) private use of the […]
Legal / Regulation
Vehicle owners who install smart phone-blocking apps should get a break on insurance rates, some industry groups contend. British Columbia’s government-owned auto insurer says it will roll out telematics devices designed to block drivers from using their wireless phones on a trial basis this coming January. With usage-based insurance, some carriers already provide discounts to […]
By Greg Meckbach | December 11, 2017
Octo Telematics, a global provider of telematics for the auto insurance industry, has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson. Octo’s acquisition includes Willis Towers Watson’s DriveAbility solution and the DriveAbility Marketplace. Geoff Werner will join Octo as global telematics leader, reporting directly to Fabio Sbianchi, CEO of Octo. […]
2 min read
Crowdsourcing, as defined by the consulting firm Crowd Sourcing Week, is “is the practice of engaging a ‘crowd’ or group for a common goal — often innovation, problem solving, or efficiency. It is powered by new technologies, social media and web 2.0.” The U.S. insuring giant American International Group Inc. (AIG) extolled the general benefits […]
By Jason Contant | December 8, 2017
Technology advancements may seem like a competitive advantage in the broker channel, “but they have the potential to be a neutralizer” as well, the Insurance Brokers Association of Ontario cautioned Tuesday. Some brokers have already dabbled with technology by offering chatbots, paperless solutions and mobile websites, among other items. And real-time data exchange between brokers […]
By Greg Meckbach | December 5, 2017
CALGARY – The Bank of Canada is considering the merits and risks of digital currencies as interest in cryptocurrencies like Bitcoin reaches a fevered pitch. In a research paper released by the central bank Thursday, report authors Walter Engert and Ben Fung said there are merits to creating a central bank digital currency as society […]
By Jason Contant | December 5, 2017
Canadian auto insurers have been using telematics to gather data on driving behaviour for years, with one insurer having billions of miles’ worth of data, but it remains debatable whether pay-as-you-drive technology actually reduces insured losses. Claims costs “could conceivably be reduced” but it will still take time to determine whether or not telematics has […]
By Jason Contant | December 3, 2017
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