HR
While it remains to be seen whether or not the industry’s anticipated move to automate “paper pushing” roles over the next decade will spawn major job losses, the industry may have an easier time attracting youth to the more advanced roles that emerge. “Certainly, there has been much anticipation that technology will start to eliminate […]
By Jason Contant | November 24, 2017
2 min read
Tech
Given the “fairly fluid coverage situation” in the cyber insurance market, it’s imperative for brokers to educate themselves about the array of available cyber products to establish the right limits of cover for their clients. “I think brokers struggle with the concept of who needs it, who will even think about buying it, and their […]
By Jason Contant | November 23, 2017
Given Lyft’s promised arrival in Canada by the end of the year, insurance coverage for the ride-sharing service remains a big question mark. “I am concerned because I have not yet heard that Lyft has contracted with anyone to provide similar arrangements” as Uber has done, Eric Grossman, a lawyer with Toronto-based Zarek Taylor Grossman […]
By Jason Contant | November 21, 2017
3 min read
Continuing Education (CE) for brokers will likely make its way onto mobile devices in the short term, with the world of Virtual Reality classrooms to follow over the longer term — perhaps in the next five to 10 years, says an award-winning contributor to Canadian broker education. Greg Mansfield, education department manager at the Insurance […]
Brokers placing coverage with Economical Insurance wanted the insurer to “clearly articulate [its] appetite and become competitive in specific areas,” so the insurer has created new core segments in small business, agriculture and transportation, and specialty lines. Matthew Buchalter, vice president of regional product pricing and underwriting, told Canadian Underwriter that these new segments “will […]
Brokers are excited about the potential of artificial intelligence (A.I.) to help streamline interactions—not just between brokers and consumers, but also between brokerages and insurance companies. Chatbots are often cited as an A.I. tool to help brokerages automate and streamline their online interactions with clients. But chatbots can also act as “advisors” internally at brokerages, […]
By Jason Contant | November 19, 2017
Responding to an insurer’s call for carriers and brokers to find tech solutions to help solve the industry’s “administration problem,” brokers have responded by welcoming such a dialogue, citing several initiatives already dedicated to the task. RSA Canada president and CEO Martin Thompson gave a presentation on technology at the Insurance Institute of Canada on […]
By Canadian Underwriter | November 17, 2017
Legal / Regulation
SAN FRANCISCO – California regulators are embracing a General Motors recommendation that would help makers of self-driving cars avoid paying for accidents and other trouble, raising concerns that the proposal will put an unfair burden on vehicle owners. If adopted, the regulations drafted by the California Department of Motor Vehicles would protect these carmakers from […]
By Jason Contant | November 16, 2017
Toronto-based VerticalScope Inc. says six of the community websites it administers were hacked last month in the latest of a recent series of data breaches affecting Canadian online user information. The company says in an emailed statement an “unauthorized party” gained access to community member data for six of its websites on Oct. 17 and […]
Why are Insurtechs and fintechs frequently hailed as more agile than insurance companies following a more established business model? Martin Thompson, CEO of RSA Canada, said it’s easy to be bullish on the agility of insurtechs if you take customers out of the equation. “While tech firms are more agile — we think that, certainly […]
By Canadian Underwriter | November 15, 2017
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