Canadian Underwriter

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Technology

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New cyber insurance platform offers quotes using single piece of data

May 23, 2019 by Jason Contant

While online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote

News InsuranceTechnology

Huawei a small part of an ‘insurmountably hard problem’ of cybersecurity

May 22, 2019 by Greg Meckbach

The controversy over telecommunications equipment from Chinese manufacturer Huawei is just the tip of a large cyber risk iceberg, an Internet security expert warns. “The question is, should we trust the country in which the company whose products and services

News InsuranceTechnology

Insurtech launches exclusive line of insurance

May 22, 2019 by Jason Contant

An insurtech that positions itself as the first Canadian company to specialize exclusively in tenant insurance has launched after months of research and development. Montreal-based Allset launched last week, using a “matching” algorithm to compare the tenant’s needs to over

News InsuranceMarkets / CoveragesTechnology

Why rewards programs are a new cyber threat

May 21, 2019 by Jason Contant

If your client offers loyalty and rewards programs, they may want to keep a closer eye on securing these “non-traditional risk points” from cyber criminals. Earlier this year, several McDonald’s customers in Canada complained that criminals had breached their accounts

News RiskTechnology

How this type of client is reducing fraud risk

May 17, 2019 by Greg Meckbach

Biometrics and two-factor authentication will become more popular tactics for mitigating cyber crime risk, a British Columbia credit union executive predicts. “I feel like I do a lot of biometrics,” said Marilyn Mauritz, chief transformation and governance officer at Vancouver-based

News BrokersInsuranceTechnology

Brokers await regulations on bank fintech changes

May 17, 2019 by Jason Contant

As the federal government drafts regulations related to recent Bank Act amendments, the Insurance Brokers Association of Canada (IBAC) is confident that the fundamental aspects of their position have been upheld. Bill C-74, which received royal assent in June 2018,

News InsuranceProductsTechnology

Allstate Canada debuts telematics app

May 16, 2019 by Jason Contant

Allstate Insurance Company of Canada has joined the ranks of insurers providing telematics apps. Allstate Canada said Monday it has debuted a “personalized app for the modern driver” as National Road Safety Week (May 14-20) kicks off in Canada. Several other

News RiskTechnology

When cyber breaches can kill

May 15, 2019 by Greg Meckbach

Your client’s property and life are getting increasingly exposed to cyber attacks because just about everything today has computing power, an information security expert warns. “It used to be what with computer security, we were worried about computers, desktops and

News BrokersInsuranceTechnology

Why digital transformation gives brokers the edge over directs

May 14, 2019 by David Gambrill

It’s a common misperception that large direct insurance companies have lots of money to invest in the best, most innovative technology, creating a divide between them and smaller, “have not” brokerages. But digital transformation is actually levelling the playing field

News InsuranceRiskTechnology

New spyware infects phones through missed calls

May 14, 2019 Frank Bajak And Raphael Satter - THE ASSOCIATED PRESS

Spyware crafted by an “advanced cyber actor” infected multiple targeted mobile phones through the popular WhatsApp communications program without any user intervention through in-app voice calls, the company said. The Financial Times identified the actor as Israel’s NSO Group, and

News RiskTechnology

Canadian companies paying high cybercrime bills

May 13, 2019 by Adam Malik

Malicious insiders and malware attacks are costing Canadian companies. New research from global professional services company Accenture and data protection research firm Ponemon Institute pegged the average cost of cybercrime to a Canadian company at more than $12 million in

News BrokersInsuranceTechnology

Are you prepared for insurance quotes through Google Home and Amazon Echo?

May 10, 2019 by David Gambrill

“Google Home, Amazon Echo, buy me auto insurance for my new, black 2019 Hyundai Sontata.” If you are a broker, would you be able to handle this voice request for an auto insurance quote? If not, you’d better start strategizing