Canadian Underwriter

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investment

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More data-based use cases likely offers greater shot at success for insurers exploring connected insurance: expert

May 24, 2017 by Canadian Underwriter

The greatest value to insurance industry players and their customers will likely not be realized without expanding the number of data-based use cases, Matteo Carbone, founder and director of the Connected Insurance Observatory, recently suggested. “Connected insurance is about gathering

News Technology

Hurdles to digital transformation remain, half of respondents have formal strategy: global survey

May 24, 2017 by Canadian Underwriter

Some things seem to persist, including how inflexible IT systems, organizational silos and security concerns continue to rear their heads as obstacles to global enterprises adopting formal strategies for digital transformation. So suggests the Enterprise Digital Transformation Strategies: Turning Disruption

News Commercial LinesInsuranceMarkets / CoveragesTechnology

Canadian companies lag in cybersecurity investments, survey finds

May 23, 2017 by Canadian Underwriter

More than three-quarters (76%) of surveyed Canadian executives believe that the number of data breach attempts on their firms will be higher in a year, yet fewer than half said that their organization’s investments in cybersecurity will increase in that

News Climate ChangeCommercial LinesInsurancePersonal LinesProductsTechnology

Intact Ventures becomes strategic investor in Canadian IoT technology company Alert Labs

April 20, 2017 by Canadian Underwriter

Intact Ventures has made its first investment in Canada Alert Labs Inc., an Ontario provider of easy-to-install technology that offers residential and commercial property owners real-time water use, flood, leak, temperature and power alerts. Not only do the alerts generated

News CatastrophesClimate ChangeCommercial LinesConstructionInsuranceMarkets / CoveragesPersonal Lines

Government of Alberta boosts Calgary’s flood resilience with $13.4 million investment

April 12, 2017 by Canadian Underwriter

The Government of Alberta announced on Wednesday that it is investing about $13.4 million to help the City of Calgary boost its flood readiness. Six provincial grants are part of $63 million earmarked in Budget 2017 to help Alberta communities

News InsurancePersonal Lines

Home purchase plans down overall, Millennials most optimistic group: RBC

April 11, 2017 by Canadian Underwriter

A quarter of those taking part in a new RBC Royal Bank poll seem to be taking a “wait-and-see” approach to buying a home within the next two years, but the dip from 2016 is buoyed by Millennials more willing

News AssociationsCatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesPersonal Lines

Climate adaptation investment has ‘long-lasting and substantial impact:’ Intact VP

April 5, 2017 Greg Meckbach, Associate Editor

Building infrastructure to reduce weather-related losses can benefit society for generations, but the problem of climate change is “so global and complex” that there will always be more work required, insurance company executives suggested Wednesday at a conference in Toronto.

News AssociationsCommercial LinesInsurancePersonal Lines

Strong investment gains even out results for Ontario mutual insurers

April 3, 2017 by Angela Stelmakowich

Financial results for Ontario mutual insurers in 2016 were better than expected, with 2016 marking the eighth consecutive year of overall profitability and seventh year in a row of underwriting profit. The aggregate results for Guarantee Fund Mutuals in 2016

News AssociationsCatastrophesClimate ChangeInsurance

Openness to making homes, businesses resilient to severe weather encouraging: OMIA’s John Taylor

March 31, 2017 by Angela Stelmakowich

There are encouraging signs from government, municipalities and builders that resiliency needs to become part of building code conversations given that severe weather shows no signs of abating, suggested John Taylor, president and CEO of the Ontario Mutual Insurance Association

News InsurancePersonal LinesTechnology

Federal, Ontario governments invest in Ford Canada centre focusing on connectivity

March 30, 2017 by Canadian Underwriter

Justin Trudeau has announced a joint federal and Ontario government investment in the Ford Motor Company of Canada, part of which will help establish a new research and engineering centre focusing on connectivity research and development. Prime Minister Justin Trudeau

News Technology

Canadian executives investing in tech skills training, but still struggle to keep up with technology change: PwC Canada

March 29, 2017 by Canadian Underwriter

Polled Canadian organizations are struggling to keep up with constant technology change despite executives viewing digital strategy, cyber security and data analytics as quite or highly important skills to their businesses, notes a new report issued Wednesday by PricewaterhouseCoopers (PwC)