Tech

Regulator challenges rosy telematics picture

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

2 min read

Province’s ridesharing law requires minimum policy limit

Saskatchewan has introduced legislation allowing for ridesharing services to operate in the province, with an interesting insurance twist. The Vehicles for Hire Act requires the ridesharing company to file written evidence of a motor vehicle liability insurance policy with a minimum limit of $1 million, Saskatchewan Government Insurance (SGI) reported. The company must also insure […]

By Canadian Underwriter | December 1, 2017

2 min read

Digital Access

As fintechs and insurtechs take hold, more than just the tech is changing. Incumbents are joining fintech firms in realizing a digital approach — anchored by strong and agile core systems — is necessary to put customers first. And cultivating that approach from the time customers are young offers promise of customers for life.

December 1, 2017

2 min read

Total number of Canadians impacted by cyberattack passes 19,000: Equifax Canada

TORONTO – Equifax Canada has revised the number of Canadians caught up in a massive data breach earlier this year, saying an investigation has found that more than 19,000 were affected. The company previously said about 8,000 Canadian customers had their personal information compromised in the cyberattack, but couldn’t say how many additional credit cards […]

By Jason Contant | November 30, 2017

2 min read