Canadian Underwriter

Topic
Technology

News AssociationsBrokersTechnology

IBAO’s stance on electronic termination of coverage

November 24, 2020 by Greg Meckbach

Insurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto

News InsuranceLegislation / RegulationTechnology

So you’re going digital. How much speed do you need?

November 3, 2020 by David Gambrill

While the global COVID pandemic may have sharpened the insurance industry’s focus on providing digital solutions to customers quickly, the speed at which the industry can move remains limited by traditional barriers such as a carrier’s organizational culture, regulation, and

News AdjustersClaimsClaims CanadaTechnology

How COVID could change adjusting for good

October 29, 2020 by Greg Meckbach

The COVID-19 pandemic has permanently changed the way property insurance clients want their claims handled, a technology vendor suggests. “COVID has been the awakening for many companies,” said James Swayze, Toronto-based executive for Canada at CoreLogic Inc. After COVID-19 was

News BrokersInsuranceProfessional DevelopmentTechnology

How ‘extra steps’ can make for a bad customer experience

October 27, 2020 by Greg Meckbach

Brokers who are concerned about carriers having “too direct” of a relationship with the broker’s customers should consider what service those customers are expecting, an industry consultant suggests. “As an industry, we have a number of places where we have

News BrokersTechnology

What carriers are telling brokers who don’t invest in technology

October 26, 2020 by Greg Meckbach

With a week to go before Hallowe’en, Ontario brokers heard some spooky stories last week about what happens if a brokerage does not invest in keeping up to date with technology. “Technology is going to be a much more permanent

News InsuranceTechnology

40-year industry vet discusses his take on tech: Does it help or hinder?

October 20, 2020 by Greg Meckbach

When Bob Tisdale started his insurance career in the late 1970s, his employer at the time was just starting to adopt computers. “A lot of people at the time predicted that that was going to be the end of everybody’s

News AdjustersClaimsClaims CanadaTechnology

How a smart phone can drive efficiency in the claims process

October 19, 2020 by Greg Meckbach

Using a smart phone to take pictures of property damage as soon as it happens could speed up the claims process and reduce fraud risk, the head of a Canadian claims technology vendor suggests. “The best way to drive efficiency

News BrokersClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

How COVID-19 has changed cyber underwriting

October 19, 2020 by Greg Meckbach

With loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or

News Claims CanadaInsuranceLegalRiskTechnology

Why this client can only recover $50,000 on a $2.7-million commercial crime claim

October 16, 2020 by Greg Meckbach

An electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance

News Technology

How you can cut down time spent searching underwriting manuals

October 5, 2020 by Greg Meckbach

Some brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting

News InsuranceLegislation / RegulationTechnology

Why insurers incurred penalties for over-charging Alberta auto clients

October 2, 2020 by Greg Meckbach

Programming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to

News AdjustersClaims CanadaMergers and AqcuisitionsTechnology

Fight continues over proposal to acquire property data provider CoreLogic

October 1, 2020 by Greg Meckbach

A proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing