Tech

Majority of global financial institutions to ramp up transformation initiatives over next year, Accenture survey finds

An Accenture survey of nearly 800 financial services executives across Europe, Asia and North America found that more than half of financial institutions plan to increase their investments in major corporate transformation initiatives, or “change programs,” over the next 12 months, primarily due to cost pressures, new regulations, increased customer expectations and digital disruption. The […]

By Canadian Underwriter | June 26, 2017

2 min read

35% of top global insurers have appointed a chief digital officer to oversee business transformation: PwC’s Strategy&

More than one-third of the world’s top insurance companies have appointed an executive – commonly known as a chief digital officer (CDO) – to oversee the digital transformation of their business, according to a new study from Strategy&, PwC’s strategy consulting business. Overall, 19% of the world’s top 2,500 companies have appointed a CDO, Strategy& […]

By Canadian Underwriter | June 26, 2017

3 min read

Tech

Cyber line expected to be one of the leading P&C growth areas in the U.S. over the next few years: A.M. Best

The cyber line of business is expected to be one of the leading growth areas within the property and casualty space in the United States, with cyber coverages estimated to increase between US$7.5 billion to US$20 billion by 2020, a new report from A.M. Best Company suggested. But despite the growth in direct premiums of […]

By Canadian Underwriter | June 23, 2017

3 min read

Tech

Companies plan to spend more on cloud computing services this year, higher prices among drivers: Clutch

Companies are planning to spend more on cloud computing services in 2017, but must be cognizant that anticipated costs could balloon absent appropriate monitoring and use, suggest survey results released this week by Clutch. Reflecting input from 283 IT professionals at businesses in the United States that use a cloud computing service, Clutch’s Second Annual […]

By Canadian Underwriter | June 23, 2017

5 min read

U.S. company launches cloud for insurance, brings drone platform to p&c sector

California-based Kespry is moving deeper into vertical markets with its formal entry into the insurance sector south of the border. The move follows extensive field tests and insurance-specific improvements designed together with customers and industry leaders, reports the aerial intelligence platform provider, which develops drone hardware, software and cloud services. Kespry will now be able […]

2 min read

More use of aircraft voice and data recorders would ‘help identify hazards:’ TSB chair

The Transportation Safety Board of Canada is calling on the federal government to make cockpit voice recorders and flight data recorders mandatory on more aircraft and to allow use of the data in safety management systems. “In Canada, only multi-engine, turbine-powered commercial aircraft flown by two pilots and carrying six or more passengers” are required […]

3 min read

Employee awareness, training key to building a solid cyber security culture: Echols

A little competition could be a good thing, especially when it comes to building a cyber security culture, cyber expert Michael Echols suggested last week during a symposium co-hosted by the Travelers Institute and Economic Club of Canada. Developing a solid defence against cyber attacks requires considering the people side of the equation, said Echols, […]

3 min read

Canadian firms may be overconfident in their cybersecurity preparedness: FICO survey

Canadian firms, particularly those in the telecommunications sector, may be overconfident in their cybersecurity preparedness, according to a recent survey conducted by research and consultancy firm Ovum for Silicon Valley analytics firm FICO. For the survey, Ovum conducted telephone interviews for FICO of senior security executives at 350 companies in Canada, the United States, the […]

2 min read

In Transformation

Canada's property and casualty insurance industry is undergoing a true transformation, driven in large part by staggering advances in technology and ever-increasing demands. What will the industry look like in 10 years? And what do organizations need to do to ensure they gain a competitive advantage?

June 21, 2017

5 min read

Gains, losses in efforts to combat cyber crime in 2016: Trustwave

The fight against cyber crime showed both advances and retreats in 2016, with improvements on the intrusion detection and breach containment fronts matched by cyber crime increasingly being treated as a business, suggests a Trustwave report released Tuesday. Findings in the 2017 Trustwave Global Security Report reflect, among other things, real-world data from hundreds of […]

6 min read