Legal / Regulation
Autonomous vehicle (AV) technology will require a reassessment of liability and the uncertainty surrounding liability may even slow the introduction of AV technology, a speaker suggested on Monday at the RIMS Canada Conference. Jim Kidd, project manager at the City of Toronto’s insurance and risk management section, was speaking about the topic during a session […]
By Jason Contant | September 26, 2017
4 min read
HR
American International Group, Inc. (AIG) announced on Monday that it will transition to General Insurance and Life & Retirement segments, as well as a new “standalone, technology-enabled platform.” AIG said in a statement that it is planning to make changes to its organizational structure. The company will no longer have Commercial and Consumer segments and […]
By Canadian Underwriter | September 25, 2017
2 min read
Legislation under consideration by the House of Commons “would increase the flexibility” of federal law to address automated and connected technologies used in vehicles, a member of parliament suggested Wednesday. “Shifts in the global technology landscape are placing a growing reliance on vehicle safety innovation while transforming business practices and consumer demands,” said Brenda Shanahan, […]
By Canadian Underwriter | September 22, 2017
Tech
Replacing legacy information technology can be a daunting and expensive task, often representing a multi-year, multi-million-dollar project for an insurer. Opting to maintain, tweak or overhaul a legacy system all pose challenges, something carriers wanting to satisfy brokers and customers need to know
September 22, 2017
10 min read
More than 900 data breaches led to nearly two billion records being compromised worldwide in the first half of 2017, digital security company Gemalto said in a new report. In the first six months of this year, 918 data breaches led to 1.9 billion data records being compromised, a “staggering” 164% increase from the number […]
3 min read
True, it is all about data these days. That said, determining how best to employ the ever-growing store of internal and external data is necessary to gain forward-looking insights. For Canada’s property and casualty insurance market, knowing what to do with data to meet customer needs and demands will likely prove the end-game.
September 21, 2017
1 min read
Nearly four in five polled Canadians (78%) in Newfoundland and Labrador, Ontario and Alberta said they want to see a technology solution that would stop distracted driving by disabling texting and other functions while the driver is behind the wheel, a new opinion poll from Aviva Canada has found. Results of the online poll of […]
By Canadian Underwriter | September 21, 2017
Esurance has announced that it is expanding its online auto and home insurance to Ontario. Esurance – an Allstate company with homeowner and auto insurance available across Alberta, Ontario and the United States – uses “advanced technology to offer an easy online experience and intuitive tools that help take the hassle out of insurance,” the […]
While large financial institutions have made progress applying smart technologies like cloud, biometrics and big data analytics to their risk management functions, two-thirds (66%) of executives say skills deficiencies are impeding the effectiveness of the function as these technologies evolve, a new study from Accenture has found. The Accenture 2017 Global Risk Management Study, released […]
By Canadian Underwriter | September 20, 2017
Deep learning – a variation of machine learning (ML) – will be a “critical driver for best-in-class performance for demand, fraud and failure predictions” by 2019, research and advisory company Gartner, Inc. suggested on Wednesday. Deep learning represents the major driver toward artificial intelligence. As deep learning delivers “superior data fusion capabilities” over other ML […]
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