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Aite Group introduces vendor evaluation framework, p&c insurance transforming
October 18, 2017 by Angela StelmakowichAite Group has introduced a proprietary vendor evaluation framework that the global research and advisory firm reports will serve as an actionable guide for market participants looking for viable third-party vendor solutions and services. “I think the biggest problem for…
Frank Cowan Company offering new suite of products for terrorism coverage
October 17, 2017 by Canadian UnderwriterNow available from Frank Cowan Company is a new suite of products designed to help municipalities and public services organizations address the terrorism risk they face and transfer some of that risk via the insurance product. Partnering with XL Catlin…
Canada’s fintech adoption rate doubles in last 18 months: EY report
July 25, 2017 by Angela StelmakowichCustomer wants, needs and demands are guiding players in Canada’s fintech space toward developing simpler, more transparent and customer-centric financial services products, with insurance expected to see a big increase in uptake in future, suggests new research released Tuesday by…
Applying blockchain technology could slash US$40 billion in costs for financial services: BIS Research
July 17, 2017 by Canadian UnderwriterImplementing blockchain technology could produce hefty cost savings in the billions of dollars annually for the financial services market, suggests a new report released Friday by Minnesota-based BIS Research. Characterizing blockchain as a revolutionary development, its application “could lead to…
Stilling quake risk in eastern Canada demands greater focus, awareness and effort: Swiss Re
July 11, 2017 by Angela StelmakowichRisk awareness is severely lacking and not enough attention is being paid to quake risk in eastern Canada, a region with “huge” loss-inflicting potential that a Swiss Re model projects could produce the country’s largest nat-Cat loss ever if the…
Global premiums up in 2016, growth lower but outlook still positive: Swiss Re
July 5, 2017 by Canadian UnderwriterThe 3.7% increase in global insurance premiums on the non-life side in 2016 was driven by expansion among the emerging countries and exceptional performance in China, although growth weakened in advanced economies, Swiss Re Institute suggests in its latest sigma…
BlackBerry expanding channels of distribution via cyber security initiative with Allied World
April 21, 2017 by Canadian UnderwriterOntario-based BlackBerry Limited is growing its footprint in the insurance industry through a new initiative with Allied World Assurance Company Holdings in which the latter’s U.S. cyber policyholders will gain direct access to the former’s cyber security expertise through an…
Carriers should more fully explore potential in episodic insurance, CIAA event hears
April 17, 2017 by Angela StelmakowichInsurance carriers need to more seriously consider the potential that exists in episodic insurance and how such an approach could alter offerings, Mukul Ahuja, leader of insurance strategy and innovation at Deloitte Canada, suggested Thursday. “Not nearly enough carriers are…
More action needed to better prepare for earthquake in Canada: Scotti
April 6, 2017 by Angela StelmakowichCanada would be well-advised to take a cue from other nations and do more to establish partnerships and requirements that better protect property owners in the event of an earthquake, says Veronica Scotti, president and CEO of Swiss Re Canada.…
Terrorism insurance gaps demand rethinking focus on property: C4 2017 speaker
February 2, 2017 by Angela StelmakowichTerrorism insurance programs need a reset to ensure clients are appropriately covered in light of the continuing shift from attacks on property to attacks on people designed to produce mass casualties, Scott Bolton, the U.K.-based director of business development and…
Insurers have untapped opportunity to transform into solutions providers, not just sellers: consumers
September 20, 2016 by Canadian UnderwriterAlmost three-quarters of consumers taking part in a Bain & Company Inc. survey say they would value a platform for providing services well beyond insurance coverage, opening the door for insurers to transform themselves from just sellers into solutions providers.…