Cloud-based services can serve as a much-needed speed accelerator to the Canadian P&C insurance industry, eliminating friction and digitizing the customer experience, speakers said Thursday at the 2024 CIP Society Symposium in downtown Toronto. “I personally think the biggest threat…
Quantum computing holds promise for dozens of industries, including property and casualty (P&C) insurance. But there are also downsides to the technology. For one, quantum computers are not yet that stable and must operate in extremely controlled environments. It’s not…
Quantum computing stands at the forefront of data processing technology and, although it remains an open question how it will be regulated, some form of guidelines will be needed. Quantum computers go well beyond a standard binary form of processing…
What will the P&C insurance industry do when quantum computers “think,” and behave, more like humans? It’s not as far off as you think. Today, quantum computing is the preserve of national intelligence agencies and the world’s largest technology companies, such…
The Centre for the Study of Insurance Operations (CSIO) has published an implementation guide to help insurers and vendors program JSON API Standards into their systems, providing faster data exchange between brokers and insurers. CSIO today published its JavaScript Object…
Will generative artificial intelligence (AI) make your skill sets obsolete? If you answered yes, you have the same belief as 17% of Canadian workers recently surveyed by recruiting and business consulting firm Robert Half. Survey respondents worked in occupations ranging…
Canada’s mutual insurance industry has been around for as long as the country itself and has innovated over that time. Now it’s driving digital transformation to enable new capabilities, improve service and keep pace with market competition. These changes come…
I had the privilege of interviewing Carol Jardine on a podcast at the end of her final day before retiring as Wawanesa’s president of Canadian P&C operations. What stood out for me is how our conversation illustrated the difference between…
Brokers worried about challenges faced when placing business during a hard market are looking to carriers for help with online claims service capabilities, said respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey polled 150 brokers nationwide about challenges…
Digitizing a traditional insurance brokerage doesn’t have to break the bank, as many might believe, but the tech you pick — and how you roll it out — will make a difference to your costs. “It all depends on how…
Adopting an Application Programming Interface (API) solution for broker-carrier connectivity will significantly reduce errors and save brokers between 11% and 17% of effort during the quoting process, according to a white paper released Tuesday by Insurance Brokers Association of Canada…
Ballam Insurance Services, a Nova Scotia brokerage that sued its tech vendor 11 years ago over server issues, is allowed to proceed with its case despite examples of ‘inordinate’ and ‘inexcusable’ delays, the Supreme Court of Nova Scotia ruled Monday.…