Quantum computing’s impact on P&C insurance operations will be wide-ranging, say several sources who spoke with CU. Almost every sector and department of the industry could be affected, including actuarial, risk management and underwriting teams, data analytics, IT, claims processing,…
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…
Vendors of underwriting models need to be transparent about the models’ limitations so underwriters and actuaries can understand where these limits could come into play, a speaker said last week at the CatIQ Connect conference in Toronto. Every single data…
Editor’s Note: An earlier version of this article said that CFC established the cyber monitoring centre when in fact they were the driving force behind its establishment. As well, the article implied that the centre has a link to insurance…
Canada’s top three business risks show companies are widely, and primarily, worried about disruption to their operations, according to the Allianz Risk Barometer 2024. Over half (57%) of respondents in Canada said business interruption was their number one risk,…
Mathias Sommer, COO, Zurich Canada As we look ahead to 2024, leveraging data and digitalization will be critical in meeting rapidly evolving customer expectations. Today’s consumer wants a seamless, simple, digital-first experience and solutions helping them to understand and manage their…
Celyeste Power, president, CEO, Insurance Bureau of Canada Canada’s political and regulatory environment is evolving, creating both opportunities and challenges for the industry. We’re seeing a growing trend toward sweeping regulations, new taxation and increased government intervention. We’ve seen regulators’…
Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
There’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals no longer need to resort to violent methods like carjacking to…
Nicholas Hudescu is a rarity in the insurance industry. The 23-year-old attended Wilfrid Laurier University, earning a Bachelor of Business Administration degree specializing in insurance and risk management. While there, he joined the student-run Laurier Insurance and Risk Association (LIRA)…
Car thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take vehicles while their owners are asleep.…