Canadian Underwriter

Keyword
blockchain

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Nearly half of global insurers expect to acquire new technologies through M&A in the next three years: Willis Towers Watson survey

February 17, 2017 by Canadian Underwriter

Nearly three-quarters of global insurers (74%) believe that their sector has failed to show leadership in digital innovation, according to a new survey by Willis Towers Watson (WTW) released on Thursday. The report, titled New horizons: How diverse growth strategies

News InsuranceMarkets / CoveragesProfessional DevelopmentReinsuranceTechnology

Hannover Re, Generali Group and SCOR join blockchain insurance industry initiative B3i

February 6, 2017 by Canadian Underwriter

Hannover Re, Generali Group and SCOR announced on Monday that they have joined the blockchain insurance industry initiative B3i, bringing the total number of insurers and reinsurers in the initiative to 15. Members of the B3i initiative will explore the

Feature InsuranceTechnology

Starting Block

February 1, 2017 Angela Stelmakowich, Editor

The buzz around blockchain is growing louder. An almost consensus-like agreement that it could benefit the insurance industry, though, must be balanced by what can only be described as an incomplete understanding of its workings and potential. That said, understanding is growing in step with an apparent openness to partner and explore.

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Worldwide IT spending forecast to grow 2.7% in 2017: Gartner

January 13, 2017 by Canadian Underwriter

Worldwide spending on information technology is projected to total US$3.5 trillion in 2017, a 2.7% increase from 2016, according to Gartner, Inc. Gartner, a Stamford, Conn.-based IT research and advisory company, noted in a statement on Thursday that the growth

News Commercial LinesInsuranceTechnology

Blockchain for enterprise applications market to reach US$19.9 billion by 2025: report

December 14, 2016 by Canadian Underwriter

The blockchain for enterprise applications market will reach US$19.9 billion by 2025, according to market intelligence firm Tractica. The Blockchain for Enterprise Applications report, released on Wednesday, said that annual revenue for enterprise applications of blockchain will increase from US$2.5

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Insurtech platform revenues to approach US$235 billion by 2021, driven by machine learning and blockchain adoption: report

December 13, 2016 by Canadian Underwriter

Fintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said

News Commercial LinesInsuranceProfessional DevelopmentTechnology

Blockchain technology a source of both disruption and opportunity for insurers: Novarica

November 21, 2016 by Canadian Underwriter

Blockchain technology will be a source of both disruption and opportunity for insurers, according to a new report from Boston-based research and advisory firm Novarica. In its latest executive brief, released on Monday, Novarica predicted that the technology would have

News InsuranceMarkets / CoveragesTechnology

More than half of polled P&C insurers aware of implications and potential of blockchain: Strategy Meets Action

November 11, 2016 by Canadian Underwriter

More than half of P&C insurers surveyed by insurance strategic advisory firm Strategy Meets Action (SMA) are at least aware of the implications and potential of blockchain in the industry, a new report from the company has found. In particular,

News InsuranceMarkets / CoveragesReinsuranceTechnology

Aegon, Allianz, Munich Re, Swiss Re and Zurich launch blockchain initiative B3i

October 19, 2016 by Canadian Underwriter

Five insurers and reinsurers – Aegon, Allianz, Munich Re, Swiss Re and Zurich – have launched the blockchain insurance industry initiative B3i, aimed at exploring the potential of distributed ledger technologies to better serve clients through faster, more convenient and

News InsuranceMarkets / CoveragesPersonal LinesTechnology

Adoption of smart contracts to decrease risks and costs, increase efficiencies: Capgemini

October 11, 2016 by Angela Stelmakowich

Lower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Understanding potential disruptions to risk analysis, cost basis and distribution key to insurers’ strategies: Novarica

September 22, 2016 by Canadian Underwriter

Insurers need to understand potential disruptions to risk analysis and cost basis as well as distribution to effectively manage their strategies, suggested a new report from Boston-based research and advisory firm Novarica. The pace of technological change makes it a

News Earnings / RatingsInsuranceMarkets / CoveragesReinsuranceTechnology

Technology driving long-term transformation of the insurance industry; price levels expected to stabilize: Swiss Re

September 12, 2016 by Canadian Underwriter

Technological developments will profoundly change the way in which the re/insurance industry develops, distributes, underwrites and administers the insurance protection it sells to consumers, Swiss Re said on Monday. New technologies such as cognitive and cloud computing as well as