Canadian Underwriter

Topic
Technology

News Technology

Why regulation holds auto insurers back from using advanced modelling

August 4, 2020 by Greg Meckbach

Auto insurers could potentially use artificial intelligence to improve risk segmentation but some of the newer modelling techniques may not be a good fit with the way rates are currently regulated, a data science expert for one insurer suggests. Ontario’s

News Technology

Why blockchain is not ubiquitous yet in insurance

July 20, 2020 by Greg Meckbach

Blockchain has been around for a while, in cryptocurrency for example, but the property and casualty industry needs to work together and agree on what brokerages and carriers should use blockchain for, speakers said on a recent webinar. “Blockchain is

News Technology

The business processes you should automate now

July 17, 2020 by Greg Meckbach

Invoice processing and after-hours self-service are among the processes you could be automating today with advanced computing technologies. Aviva Canada has automated the reconciliation of invoices, the company’s chief claims officer, Bryant Vernon, reported during a Canadian Underwriter webinar Thursday.

News Technology

How IBC would change auto insurance regulation in four provinces

June 26, 2020 by Greg Meckbach

Motorists in Ontario, Alberta, Nova Scotia and Newfoundland and Labrador should be allowed to buy pay-per mile insurance, an Insurance Bureau of Canada official says. Those four provinces already allow usage-based insurance, wrote Ryan Stein, IBC’s executive director of auto

News InsuranceTechnology

How the industry can take advantage of artificial intelligence

June 18, 2020 by Greg Meckbach

Brokerages who use artificial intelligence could find opportunities to upsell based on changes in a client’s lifestyle, according to a software vendor executive. The more data you feed a machine learning model and the more you train it, the better

insPRESS Technology

Game-changer: SGI CANADA and CSSI pilot real-time Data Exchange for policy change requests

June 18, 2020 Custom Software Solutions Inc.

REGINA, SK AND VIDEN, MB, JUNE 18, 2020/insPRESS/ – SGI CANADA and Custom Software Solutions Inc. (CSSI) are pleased to announce they are piloting the first real-time, personal lines policy change request transaction in Canada, starting and ending in the broker

News BrokersClaimsInsuranceTechnology

How insurance company websites just beat out brokers in a U.S. consumer satisfaction study

June 15, 2020 by David Gambrill

For the first time in two decades, insurance company websites in the United States have become a more popular place for consumers to buy their auto insurance than through the broker channel, a U.S. auto insurance consumer satisfaction study has

News ClaimsInsuranceTechnology

Self-driving cars may not reduce as many crashes as you think: report

June 10, 2020 by Adam Malik

Insurers expecting the rise of autonomous vehicles to lower collisions may not get the results they were hoping for, according to a new report. It turns out that self-driving vehicles might prevent only about one-third of all collisions, says the

News BrokersInsuranceTechnology

Q&A: Business Continuity in the Digital Age

June 2, 2020 by David Gambrill

Many insurance professionals in the Canadian property and casualty insurance industry are taking a long-term view of the global novel coronavirus pandemic, seeing a world beyond the point at which a vaccine is developed and the virus no longer presents

News BrokersInsuranceTechnology

Q&A: Business Continuity in the Digital Age

May 29, 2020 by David Gambrill

It’s often been said that insurance is a “people business,” but establishing and maintaining personal relationships is challenged by social distancing requirements to prevent the spread of a global pandemic. Certain professional roles within the industry are perhaps more suited

News BrokersClaimsInsuranceRiskTechnology

Contactless payment in a pandemic: There’s an app for that

May 29, 2020 by David Gambrill

Retail clients of brokers and insurers can now prevent the spread of the novel coronavirus by taking advantage of digital, contact-free payment methods now available on mobile apps. Increasingly, businesses will have to operate within the health and safety guidelines

News BrokersClaimsInsuranceRiskTechnology

These types of businesses are in serious need of a cyber policy

May 28, 2020 by David Gambrill

With ransomware and financial fraud on the rise, smaller businesses in Canada are vulnerable, particularly less-sophisticated organizations that move large amounts of money. For smaller brokerage houses selling cyber, examples of your next opportunities may be car dealers, people involved