Topic
Technology
Are consumers warming to telematics?
August 28, 2018 by Jason ContantA new survey for belairdirect has found more than half (53%) of polled Canadians would use an app that tracks their driving habits if it meant having a more personalized auto insurance rating. The finding contrasts recent industry comments and…
Regulator reveals reason for electronic pink slips delay
August 28, 2018 by Jason ContantPolice concerns about drivers’ mobile phone privacy rights are a major stumbling block in the introduction of electronic proof of insurance in various parts of the country, provincial financial and insurance regulators have told Canadian Underwriter. Canadian Underwriter recently contacted a…
Artificial intelligence a ‘work in progress’ in marine insurance
August 27, 2018 by Greg MeckbachSome insurers are considering how artificial intelligence could help underwrite marine risks. Although big data has been around for years, “what has changed with AI is just using bigger more disparate data sets which go across different domains – for…
Why management experience is so important for blockchain insurance
August 24, 2018 by Jason ContantGiven that “there are no 10-year-old blockchain companies” in an industry that relies heavily on historical data, how do insurers assess a submission for insurance related to the distributed ledger? Just like you would for any type of “traditional insurance”:…
Why you’ll have trouble finding D&O insurance for clients using blockchain
August 23, 2018 by Jason ContantBrokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and…
Humans required to train AI to assess images for damage losses
August 22, 2018 by Greg MeckbachClaims adjusters could soon have part of their work replaced by software that looks at photos and decides whether property is damaged, but there is still a need for humans in the process, one researcher predicts. When properties are damaged…
Insurance technology awards make final call for entries
August 22, 2018 by Greg MeckbachTwo yet-to-be named Canadian firms, which are using information technology to get “intelligence” from insurers’ data, will be recognized next month in Toronto. Insurance Nexus is accepting nominations for Canadian Insurance Carrier of the Year and Canadian Insurance Innovator of…
How blockchain may ramp up your liability exposure
August 21, 2018 by Jason ContantThe rise of blockchain and cryptocurrency technologies have triggered an explosion in securities litigation, a lawyer specializing in the field said last week during a webinar on the insurance implications of blockchain and cryptocurrencies. Alex Drylewski is a partner of…
Should brokerages be open evenings or weekends?
August 20, 2018 by Greg MeckbachMany brokerage offices are open for business outside of normal working hours but some question whether this is really necessary, given recent advances in web services. “It shouldn’t really matter if your technology is structured properly” whether your brokerage is…
Demand for omni-channel drove this brokerage merger
August 17, 2018 by Greg MeckbachHub International Ltd. is planning to use the recent acquisition of a Windsor, Ont. firm to expand its online services with existing brokerages. “The reason why we bought Cypher Systems Group is we really felt that we wanted to have…
Which insurance lines will blockchain transform?
August 17, 2018 by Jason ContantAs the hype around blockchain continues and it looks increasingly like the technology is here to stay, insurers are taking a closer look and seeking to create coverages to respond to this evolving market. Blockchain currently has a variety of…
Why IBAO decided to move CAIB exams online
August 16, 2018 by Jason ContantThe Insurance Brokers Association of Ontario (IBAO) is anticipating “significant” time and cost savings as the exams for the Canadian Accredited Insurance Brokers (CAIB) program move to a “fully digital experience” in the province by December. “We’ll no longer be…