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Reinsurance

A glowing quantum computer
News InsuranceTechnology

How quantum computing could impact risk management and claims

March 18, 2024 Jason Contant

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,

Police badge and handcuffs on a computer to represent regulators cracking down on computer crime
News InsuranceTechnology

How quantum computing creates new risks, regulatory issues for insurers

March 14, 2024 Jason Contant

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

Quantum computing could be a game changer for the insurance industry
News InsuranceTechnology

What quantum computing could mean for insurance

March 12, 2024 Jason Contant

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

Data analytics
News Commercial LinesInsuranceMarkets / CoveragesReinsuranceRiskTechnology

Why you need to know the limits of your underwriting models

February 13, 2024 by Jason Contant

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

Cloud computing and global cyberattack concept
News ClaimsClaims CanadaInsuranceMarkets / CoveragesReinsuranceRiskTechnology

Why systemic cyber remains an industry risk

January 30, 2024 by Jason Contant

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

Man using interactive scale that shows low risk and high risk on each end
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Your Canadian clients’ top business risks in 2024

January 17, 2024 by Alyssa DiSabatino

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
News Insurance

2024 Executive Outlook |Mathias Sommer, Zurich Canada  

December 28, 2023 Canadian Underwriter Staff

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
News Insurance

2024 Executive Outlook | Celyeste Power, Insurance Bureau of Canada

December 27, 2023 Canadian Underwriter Staff

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’

Insurance losses going down the drain
News CatastrophesClaimsInsurance

How insurers can manage losses as NatCat events ramp up

December 18, 2023 Philip Porado

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

Carjacker with gun
News BrokersClaimsInsuranceTechnology

How new vehicle tech is changing the auto theft equation

December 11, 2023 Philip Porado

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

Empty store shelves representing a labour shortage
News Insurance

Addressing a shortage of qualified commercial underwriters

November 28, 2023 Alyssa Di Sabatino

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)

New vehicles at an auto dealership holding lot
News BrokersClaimsInsurance

Can car dealerships manage insurance risks from vehicle thefts?

November 27, 2023 Philip Porado

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.