Topic
Technology
Damage to reputation/brand gets social, cyber jumps higher on risk list: Aon survey
April 24, 2017 by Angela StelmakowichPHILADELPHIA – Social media is amplifying the impact of the top-ranked risk for businesses – damage to reputation and brand – while cyber risk has fully entrenched itself in the Top 10, becoming the number one risk for respondents in…
Allianz makes strategic investment in Lemonade Insurance Company
April 22, 2017 by Canadian UnderwriterAllianz SE announced on Friday that it has recently made a “strategic investment” in Lemonade Insurance Company, a New York-licensed renters and homeowners insurer powered by artificial intelligence and behavioural economics. “The partnership ties in neatly with our digitization focus,”…
Water level detectors in all below-waterline compartments should be mandatory for large fishing vessels: TSB
April 21, 2017 by Canadian UnderwriterMore than 26 years after the fatal sinking of a leaking fishing vessel north of Nova Scotia, the federal government has still not mandated water level detectors on all large fishing vessels, the Transportation Safety Board of Canada warned this…
Volkswagen to pay US$2.8 billion in U.S. diesel emission scandal
April 21, 2017 by Canadian UnderwriterDETROIT – Volkswagen has been ordered to pay a $2.8 billion criminal penalty in the United States for cheating on diesel emissions tests. Federal Judge Sean Cox in Detroit followed the deal negotiated by VW and the U.S. Justice Department.…
BlackBerry expanding channels of distribution via cyber security initiative with Allied World
April 21, 2017 by Canadian UnderwriterOntario-based BlackBerry Limited is growing its footprint in the insurance industry through a new initiative with Allied World Assurance Company Holdings in which the latter’s U.S. cyber policyholders will gain direct access to the former’s cyber security expertise through an…
Optimum General obtains CSIO certification for commercial lines eDocs
April 20, 2017 by Canadian UnderwriterThe Centre for Study of Insurance Operations (CSIO) has announced that Optimum General Inc. has obtained CSIO certification for commercial lines eDocs. Optimum is now CSIO eDocs-certified for both of its lines of business, as the company obtained certification for…
Intact Ventures becomes strategic investor in Canadian IoT technology company Alert Labs
April 20, 2017 by Canadian UnderwriterIntact Ventures has made its first investment in Canada Alert Labs Inc., an Ontario provider of easy-to-install technology that offers residential and commercial property owners real-time water use, flood, leak, temperature and power alerts. Not only do the alerts generated…
Dangerous air bags can find their way into used cars, experts say
April 19, 2017 Tom Krisher and Ken Ritter - THE ASSOCIATED PRESSLAS VEGAS – A Nevada crash that nearly killed a young woman has exposed a hole in the government’s efforts to get dangerous Takata air bag inflators off the road: There’s nothing that prevents the devices from being taken from…
All generations in the United States except Millenials becoming more skeptical of self-driving technology: J.D. Power study
April 19, 2017 by Canadian UnderwriterWith the exception of Millenials, all other generational groups in the United States are becoming more skeptical of self-driving technology, posing a threat to car manufacturers and technology developers, a new study from J.D. Power has found. The J.D. Power…
Artificial Intelligence set to transform insurance industry, but integration challenges remain: Accenture
April 19, 2017 by Canadian UnderwriterArtificial intelligence (AI) will “significantly transform” the insurance industry in the next three years, with insurers investing in AI to empower agents, brokers and employees to enhance the customer experience with automated personalized services, faster claims handling and individual risk-based…
Innovative technologies clustered on expectations side, most types of technology two to 10 years away: CIAA event speaker
April 19, 2017 by Angela StelmakowichThe influence of technology will be more clearly felt in the next 10 or 15 years as opposed to the next few years, Duncan Stewart, director of technology, media and telecommunications research for Deloitte Canada, suggested during a Canadian Insurance…
Consumers starting to expect zero friction, omni-channel offering key: CIAA event speakers
April 18, 2017 by Angela StelmakowichInsurance is among the services that must offer an omni-channel experience if it expects to address the expectations of consumers as the complexity of their demands shift, Duncan Stewart, director of technology, media and telecommunications research for Deloitte Canada, suggested…