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Big data and analytics, cloud computing, mobility solutions and tech start-up firms driving U.S. insurance IT spending market

May 19, 2016 by Canadian Underwriter

Big data and analytics, cloud computing, mobility solutions and tech start-up firms are among the emerging trends driving the insurance IT spending market in the United States, according to global technology research and advisory company Technavio. Technavio’s report on the

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90% of U.S. businesses experienced hacking incidents in the last year: HSB cyber study

May 18, 2016 by Canadian Underwriter

Nine out of ten businesses in the United States have experienced at least one hacking incident in the past year, according to a survey released on Tuesday by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich

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Change in customer demographics and economic recovery to drive global insurance brokerage market through 2020, new report says

May 17, 2016 by Canadian Underwriter

The global insurance brokerage market will grow at a compound annual growth rate (CAGR) of more than 4% during the period from 2016 to 2020, according to global technology research and advisory company Technavio. The report from Technavio covers the

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Mobile app benefits discussed at Insurance Analytics Canada conference

May 16, 2016 Jason Contant, Online Editor

As one of the brokerages that was “significantly affected” by the Fort McMurray wildfires, Sharp Insurance was able to contact every single one of its clients using analytics, attendees to the Insurance Analytics Canada conference heard on Friday. “We were

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Insurers who look at the future of data analytics most likely to succeed: speaker at Insurance Analytics Canada

May 15, 2016 Jason Contant, Online Editor

Data analytics needs to be seen as a continuous journey, not just a destination, and those insurers that look forward to analytics in 10 years’ time will be the most likely to succeed, a speaker suggested on Friday at the

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Canadian, U.S. insurance agency mergers and acquisitions in Q1 breaks record, OPTIS Partners’ report reveals

May 12, 2016 by Canadian Underwriter

Insurance agency mergers and acquisitions in Canada and the United States hit an all-time high for the first quarter of the year, with 109 reported transactions in the first three months of 2016, according to OPTIS Partners’ M&A database. The

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Chris Lay appointed president and CEO of Marsh Canada

May 11, 2016 by Canadian Underwriter

Chris Lay has been appointed president and CEO of insurance broker and risk advisor Marsh Canada, the company announced on Tuesday. Marsh, a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (MMC), said in a press release that Lay (pictured

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IBM to teach Watson computer system “language of cybersecurity”

May 10, 2016 by Canadian Underwriter

IBM Security has announced that eight universities – including three in Canada – will help train its Watson computer system on the “language of security” as part of a year-long research project. Watson for Cyber Security, a new cloud-based version

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Arthur J. Gallagher acquires Winnipeg brokerage B.R. Rhymer Insurance Agencies

May 6, 2016 by Jason Contant

Arthur J. Gallagher (AJG) has announced the acquisition of B.R. Rhymer Insurance Agencies Ltd., a personal and commercial lines broker located on Pembina Highway in Winnipeg, Manitoba. AJG, the international division of Arthur J. Gallagher & Co. outside of the

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Global insurers can now register for “cyber-safe” .insurance domain name

May 5, 2016 by Canadian Underwriter

Early registration for the “cyber-safe” .insurance domain name opened on Wednesday via Instra Corporation, the corporate domain name retailer subsidiary of London, United Kingdom-based CentralNic plc. The protected domain space for the insurance industry “promises enhanced security for tens of

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Loss of confidential information key to understanding interactions between crime and cyber coverage: conference speaker

May 2, 2016 Jason Contant, Online Editor

The loss of confidential information can be crucial to understanding the interactions between cyber and crime coverage, attendees to the NetDiligence Cyber Risk Summit heard on Friday. Matthew Davies, assistant vice president of Chubb Insurance Company of Canada, said that

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Silicon Valley startup accelerator launches new insurance innovation platform

May 1, 2016 by Canadian Underwriter

The Plug and Play Tech Center, a Silicon Valley global technology accelerator and venture fund, announced that it has partnered with the world’s largest reinsurer – Munich Re – to create what it is calling the first ever accelerator program