Tech

Yellow Light, Green Light

Will autonomous vehicles change litigation? While the answer to that question is surely “yes,” a deeper dive is needed to fully grasp what related developments could mean for property and casualty insurance. Longer term, a simpler system overall for addressing liability in auto claims is anticipated.

October 6, 2017

6 min read

Tech

New software could make it easier to “adopt and trust” AI systems that set insurance premiums

New software developed at the University of Waterloo (UWaterloo) in Ontario could make it easier to adopt and trust powerful artificial intelligence (AI) systems that set insurance premiums, generate stock market predictions and assess who qualifies for mortgages, the university said in a press release on Friday. The software is designed to analyze and explain […]

By Canadian Underwriter | October 6, 2017

2 min read

Tech

AEIC speaker predicts blockchain applications in insurance

Blockchain technology – which forms the basis for the Bitcoin cryptocurrency – could enable insurers to collaborate with each other when two share the same customer and enable coverages through “smart contracts,” a speaker suggested Thursday at the annual Insurance Engineering Conference. Bitcoin uses public blockchains, which are “fully decentralized” computer networks in which “anyone […]

By Jason Contant | October 6, 2017

2 min read

Tech

New cars increasingly crammed with distracting infotainment technology: AAA study

WASHINGTON – The infotainment technology that automakers are cramming into the dashboard of new vehicles is making drivers take their eyes off the road and hands off the wheel for dangerously long periods of time, an AAA study says. The study released Thursday is the latest by University of Utah professor David Strayer, who has […]

By Jason Contant | October 5, 2017

3 min read

Utilities cautioned to act now to strengthen their cyber security defences: Accenture

Unprepared distribution utilities are urged to immediately begin improving their cyber security capabilities given the anticipated future hike in cyber attacks and the fact that most recently polled utility executives say such an attack could interrupt electricity supply, Accenture suggests in a new report. Of the more than 100 utility decision-makers from 20-plus countries who […]

6 min read

Leaf Forward launches “Canada’s first cannabis business accelerator”

Leaf Forward – which describes itself as “Canada’s first cannabis business accelerator” – reported on Wednesday that it has launched successfully, hosting two founders classes, where 12 cannabis start-ups participated in a full day of “intensive mentoring” with industry leaders. A broad range of cannabis businesses were represented, Leaf Forward said in a press release, […]

2 min read

XL Catlin partners with AI start-up Cytora

XL Catlin’s internal innovation team Accelerate announced that it is working with Cytora, a United Kingdom-based insurtech start-up that uses artificial intelligence (AI) and open source data to improve the way insurers quantify, select and price risk. A joint press release issued on Monday from XL Catlin and Cytora said that the insurance and reinsurance […]

2 min read

Aviva may launch cyber product in Canada in 2017: NICC speaker

Aviva may launch a cyber product in Canada later this year, the insurer’s CEO of International Insurance said during the National Insurance Conference of Canada (NICC) on Monday. Calling cyber “one of the big future insurance pools,” Maurice Tulloch noted that Aviva currently offers cyber cover for small- and medium-sized enterprises (SMEs) in the United […]

3 min read

Insurtech triggering transformation in personal lines: SMA

New research out of the United States assessing 600 start-ups identified as relevant for personal lines insurers indicates these new players may fail, but they are having a tangible impact on the p&c insurance industry and how it delivers services, Strategy Meets Action (SMA) reports. The report, InsurTech and Personal Lines: Examples, Use Cases, and […]

2 min read