Canadian Underwriter

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Technology

News InsuranceMarkets / CoveragesRiskTechnology

The future of carbon removal insurance: As big as oil and gas?

April 1, 2021 by David Gambrill

Carbon removal is poised to become a booming industry over the next 30 years, providing an opportunity for innovative P&C insurers to pioneer in carbon removal insurance products, Swiss Re’s chief risk officer predicts. “By 2050, the industry of carbon

News Earnings / RatingsTechnology

Explain how AI leads to underwriting decisions, report urges

March 31, 2021 by Greg Meckbach

Insurers who use big data and artificial intelligence to make underwriting decisions must be prepared to explain to clients and regulators exactly how they arrived at those decisions, an Insurance Institute of Canada researcher suggests. “A challenge in the application

News BrokersClaimsEmploymentInsuranceMGAsRiskTechnology

What would a hybrid workplace even look like?

March 26, 2021 by David Gambrill

Canadian property and casualty insurance professionals would like a more flexible, hybrid workplace, a recent survey shows, but the question for employers now is what such an arrangement might look like. About 87% of the more than 1,150 P&C insurance

News AssociationsBrokersInsuranceTechnology

What’s next in IBAC’s data exchange API pipeline

March 22, 2021 by Greg Meckbach

At least one insurer plans to offer an application programming interface (API) intended to help brokers quote and bind coverage for small businesses without the aggravation of having to log into different insurer portals or send emails or faxes. Unica

News InsuranceProductsTechnology

How COVID has influenced usage-based auto insurance adoption

March 19, 2021 by Greg Meckbach

Motorists who are driving fewer kilometres than they were before the pandemic are more likely to select usage-based auto insurance, Intact Financial Corp. observes. “COVID has pushed consumers to recognize that maybe UBI would be a tool that will immediately

News InsuranceTechnology

7 insurers that have jumped on the D/X bandwagon

March 15, 2021 by Greg Meckbach

The data exchange project needs more carriers on board, says the connectivity lead for Canada’s brokers. The Insurance Brokers Association of Canada (IBAC) announced Mar. 10, 2021, the creation of the Data Exchange Connect Alliance (DXCA). The alliance now has

News InsuranceTechnology

Why insurance apps need to be extremely simple to learn

March 9, 2021 by Greg Meckbach

For the P&C industry, one of the biggest challenges of going digital is the relatively few times a client interacts with an insurer provider, a fintech webinar speaker suggested Tuesday. When the financial industry started offering electronic cheque deposit, “it

News InsuranceProfessional DevelopmentRiskTechnology

What the future underwriter will look like

March 1, 2021 by David Gambrill

Underwriters of the future are going to look a lot more like technology trailblazers, data pioneers, dealmakers, portfolio optimizers, and risk detectives, according to a new report by Deloitte. “To remain competitive, insurers should accelerate underwriting transformation,” Deloitte states in

News InsuranceTechnology

Four ways Intact defends itself from disruption

February 26, 2021 by Greg Meckbach

Canada’s property and casualty insurance providers are not likely to be affected by aggregators to the same extent as their British counterparts, although brokers could certainly face disruption from technology firms, Intact Financial Corp.’s chief financial officer says. “The biggest

News InsuranceTechnology

How carriers could save brokers from ‘drowning in friction’

February 23, 2021 by Greg Meckbach

If your brokerage is bogged down dealing with the new ways your carrier partners are doing business, you aren’t alone. As insurance companies improve their products, introduce paperless initiatives, and upgrade from legacy systems, their broker partners often need to

News ClaimsClaims CanadaCommercial LinesRiskTechnology

What the P&C industry is telling Wall Street about cyber risk

February 9, 2021 by Greg Meckbach

Commercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks

News AnnouncementsAppointmentsInsuranceTechnology

Accenture appoints lead for advancing cloud technology in Canada

February 5, 2021 by David Gambrill

To help Canadian organizations accelerate their digital transformations and rapidly become ‘cloud-first’ organizations, Accenture has appointed Jennifer Jackson as Cloud First Lead for Canada. “Jennifer plays a vital role as head of our technology practice in Canada,” Jeffrey Russell, president