Canadian Underwriter

Keyword
Data

News CatastrophesInsuranceReinsuranceTechnology

Data-driven methodology allows (re)insurers to identify liability risk exposure across entire portfolios

March 16, 2017 by Canadian Underwriter

Lloyd’s reports that a partnership with modelling company Arium has produced a data-driven methodology that will allow (re)insurers to model liability risk exposure probabilistically across entire portfolios. The approach – the result of a three-year project between Lloyd’s and Arium

News Commercial LinesInsurancePersonal LinesTechnology

Incumbent insurers should rethink businesses, embrace opportunity in digital technology: McKinsey & Company

March 9, 2017 by Canadian Underwriter

The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying

News Commercial LinesInsuranceMarkets / CoveragesPersonal LinesTechnology

Driverless cars to “revolutionize” motor insurance as liability shifts towards manufacturers: Fitch

March 8, 2017 by Canadian Underwriter

Widespread adoption of autonomous vehicles will completely transform the motor insurance sector in the long-term as liability shifts towards manufacturers and the traditional risk pool shrinks, Fitch Ratings said in a new report on Wednesday. Simply put, insurers will be

News CatastrophesLegalLegislation / RegulationTechnology

Disruption becoming more of a motivator for cyber attacks: ICRMC panel

March 2, 2017 by Angela Stelmakowich

The motivation and rationale behind certain cyber attacks seems to be undergoing a transition, with some actors looking to inflict the most disruption possible on a target entity simply for the “fun” of it, it was suggested Thursday during the

News CatastrophesInsuranceLegalReinsuranceTechnology

Companies can come to grips with cyber risk, government back-stop may be needed for certain risks: Swiss Re

March 1, 2017 by Canadian Underwriter

Concern about cyber resilience is on the rise – as are the potential costs associated with attacks – but insurers and companies should understand steps can be taken to manage the risk, suggests the latest sigma report from Swiss Re

News InsuranceLegalTechnology

One in four U.S. consumers victim of healthcare data breach: Accenture

February 21, 2017 by Canadian Underwriter

Just over one in four consumers (26%) in the United States have had their personal medical information stolen from technology systems, according to results of a survey from Accenture released on Monday. The findings related to the U.S. portion of

News Commercial LinesInsuranceProfessional DevelopmentTechnology

Most Canadian IT professionals report some security solutions “outdated and inadequate”: study

February 14, 2017 by Canadian Underwriter

Most IT professionals in Canada (73%) feel strongly that some of their security solutions are outdated and inadequate, according to the Canadian results of a global study released last week. The Need for a New IT Security Architecture: Global Study

News CatastrophesClimate ChangeInsuranceReinsuranceTechnology

Reinsurers face challenging market conditions, technology to play important role: Novarica

January 31, 2017 by Canadian Underwriter

Reinsurers can expect huge losses from man-made and natural catastrophes, open-ended liabilities like asbestos and terrorism, and developing creative technology solutions to become increasingly important in future, Novarica notes in a new report. The new challenges are in the wake

News InsuranceLegalTechnology

IoT botnets present unmanageable cyber security risk: Juniper Research

January 23, 2017 by Canadian Underwriter

The scale of embedded connectivity could lead to an unmanageable cyber security risk created by botnets, Juniper Research Limited cautioned Monday in releasing data indicating the consumer Internet of Things (IoT) installed base will reach 15 billion-plus units by 2021.

News AssociationsCommercial LinesInsuranceLegislation / RegulationPersonal LinesTechnology

Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a

News InsuranceProfessional DevelopmentTechnology

More than 40% of data science tasks will be automated by 2020: Gartner

January 16, 2017 by Canadian Underwriter

More than 40% of data science tasks will be automated by 2020, resulting in increased productivity and broader usage of data and analytics by “citizen data scientists,” according to Gartner, Inc. Gartner, a Stamford, Conn.-based information technology research and advisory

News InsurancePersonal Lines

2016 deadliest year on Manitoba roads in a decade: MPI

January 12, 2017 by Canadian Underwriter

Manitoba Public Insurance (MPI) reported on Wednesday that it has recorded the deadliest year on provincial highways in a decade. Based on preliminary data, there were 101 fatal collisions on public roadways in Manitoba in 2016, resulting in the deaths