Canadian Underwriter

Topic
Technology

News InsuranceRiskTechnology

How not to manage risk at a cryptocurrency provider

June 21, 2019 Michael MacDonald - THE CANADIAN PRESS

HALIFAX – The accounting firm investigating the unseemly demise of Canada’s QuadrigaCX cryptocurrency exchange is accusing the company’s late founder of creating fake trades and transferring customer funds into his personal accounts, where the money was used for high-risk margin

News InsuranceTechnology

Digitizing your brokerage? Pay attention to the ‘frozen middle’

June 21, 2019 by Jason Contant

What’s the secret to successful digital transformation? The key is to get buy-in from the lower levels of the organization, said Paul Chapman, chief information officer (CIO) at Box Inc., a provider of cloud content management and file-sharing service for

insPRESS Technology

Apollo forced to admit gluten-free insurance policy does not contain blockchain

June 21, 2019 by David Dyck

VANCOUVER, BC, June 14, 2019/InsPress/ — Apollo Insurance has reluctantly admitted that its recently announced gluten-free insurance policy is not in fact on the blockchain. After thorough examination by excited parties the insurtech firm was forced to backpedal on rumours

News RiskTechnology

Data breach affects nearly 3 million Desjardins Group members

June 20, 2019 THE CANADIAN PRESS

MONTREAL – Desjardins Group said Thursday the personal information of more than 2.9 million of its members has been shared with individuals outside of the organization. The Quebec-based financial institution said the breach affects 2.7 million individual members and 173,000

insPRESS Technology

Apollo launches AXIS Insurance on the Exchange

June 20, 2019 by David Dyck

VANCOUVER, BC, June 20, 2019/InsPress/ — AXIS Insurance, a business segment of AXIS Capital Holdings Limited (NYSE:AXS) has partnered with Apollo Insurance to offer bind online insurance products through the Apollo Exchange. As with every Exchange product, the entire process,

News InsuranceProductsTechnology

One way to minimize double entry of data

June 19, 2019 by Jason Contant

One question often on the minds of brokers is how do they better digitize their processes and minimize the amount of data they have to enter into various systems. “Our position is that data should be created in a digital

News InsuranceTechnology

A new way of looking at hackathons

June 18, 2019 by Jason Contant

Thinking of hosting a hackathon, but tired of watching participants build yet another app for the Apple Store? Here’s a new twist on the standard hackathon: try building an application programming interface (API) to help replace an older system, said

News BrokersInsuranceTechnology

Where does insurance fit in the technology puzzle?

June 18, 2019 by Adam Malik

The insurance industry needs to figure out how to leverage technology and ride the waves of change that other industries are seeing. From there, issues like finding talent will become easier, a panel recently told young brokers. Problem is, insurance

News InsuranceRiskTechnology

The real reason for spike in cyber claims

June 17, 2019 by Greg Meckbach

The number of reported cyber claims has jumped significantly, but it’s not because of the major breaches you’ve been reading in the headlines. Small to mid-sized organizations are at greater risk of cyber losses than large organizations, A.M. Best Company

News Commercial LinesRiskTechnology

The other technology risk that’s keeping clients up at night

June 17, 2019 by Greg Meckbach

If you place commercial insurance, you probably have clients who are very concerned about the risk of making large investments in information technology projects. “The failure rate of IT projects is quite high and the returns are often not what

News InsuranceProductsProfessional DevelopmentTechnology

Do you need an API product manager?

June 14, 2019 by Jason Contant

Are you working with enough application programming interfaces (APIs) that you need an API product manager? Mark O’Neill, VP analyst at research and advisory firm Gartner, recommends that companies create such a role within their organization. The role doesn’t necessarily

News ClaimsClaims CanadaLegalRiskTechnology

How this cyber breach defendant got a six-figure cost award

June 13, 2019 by Greg Meckbach

Defendants who won a class-action lawsuit were recently awarded $166,000 to reimburse them for legal costs, but the plaintiffs are appealing. Casino Rama, located near Orillia, Ont. was the target of a cyber breach in 2016 by an unknown criminal.