Canadian Underwriter

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Technology


News InsuranceProfessional DevelopmentTechnology

Silicon Valley startup accelerator launches new insurance innovation platform

May 1, 2016 by Canadian Underwriter

The Plug and Play Tech Center, a Silicon Valley global technology accelerator and venture fund, announced that it has partnered with the world’s largest reinsurer – Munich Re – to create what it is calling the first ever accelerator program

Feature InsuranceMarkets / CoveragesTechnology

Joining Forces

May 1, 2016 Janice Deganis, Canadian Insurance Leader; and Ron Stokes, Canadian Financial Services Transactions Leader, EY

The consolidation trend continues in the property and casualty market in Canada, as carriers seek new product lines and distribution channels. But a sound integration plan, including technology, legal and actuarial processes, is just as important as selecting an acquisition target.

Feature InsuranceTechnology

Road to Judgment

May 1, 2016 Greg Meckbach, Associate Editor

Suppose that, because the name Bruce Springsteen appears nine times in this editorial (twice in the lede), an Internet search engine misidentifies Bruce Springsteen, rather than self-driving cars, as a key topic. Search engines are now pertinent to traffic safety

News InsuranceMergers and AqcuisitionsTechnology

Allowing both telematics program discounts, surcharges could secure a solid future for telematics in Canada: speaker

April 30, 2016 Angela Stelmakowich, Editor

Allowing both discounts and surcharges for all telematics programs are among the changes that could help ensure telematics has a bright future in Canada, Donald Light, director of Celent’s North America property casualty practice, suggested Thursday at Insurance Telematics Canada

News InsuranceLegislation / RegulationMergers and AqcuisitionsProfessional DevelopmentTechnology

Regulatory change demands that insurers show regulators using telematics data for claims management would help consumers

April 28, 2016 Angela Stelmakowich, Editor

The Financial Services Commission of Ontario (FSCO) has drawn a line in the sand when it comes to using telematics data for claims management, but it is not a given that line will always be in place, Blair Currie, vice

News InsuranceMarkets / CoveragesTechnology

Global IT spending in insurance to grow to US$184.9 billion in 2016: Celent

April 28, 2016 by Canadian Underwriter

Global IT spending in insurance will grow to US$184.9 billion this year, according to a report released on Thursday by Celent, a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. The report, titled

News LegalTechnology

Estonian gets prison in cyberscam that infected 4M computers

April 27, 2016 The Associated Press

NEW YORK – An Estonian businessman has been sentenced in New York to over seven years in prison for his role in a cyberscam that infected 4 million computers in over 100 countries. Vladimir Tsastsin was sentenced Tuesday by U.S.

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

The Boiler Inspection and Insurance Company of Canada introduces coverage for invisible risks to microelectronics

April 27, 2016 by Canadian Underwriter

The Boiler Inspection and Insurance Company of Canada (HSB BI&I), part of Munich Re, announced on Wednesday the introduction of TechAdvantage – a product the company is calling the “first equipment breakdown insurance product covering undetectable physical damage to microelectronics.”

News InsuranceLegalTechnology

Class action filed after privacy breach at one Ontario children’s aid office

April 26, 2016 Michelle McQuigge - THE CANADIAN PRESS

TORONTO – An eastern Ontario children’s aid society is facing a $75 million lawsuit after a cyber attack resulted in a list of client names being stolen and shared on local Facebook groups. At least three dozen people have expressed

News InsuranceProfessional DevelopmentTechnology

Worldwide IoT security spending to reach US$348 million in 2016, up 23.7% from 2015: Gartner

April 26, 2016 by Canadian Underwriter

Worldwide spending on security related to the Internet of Things (IoT) will reach US$348 million in 2016, a 23.7% increase from 2015 spending of US$281.5 million, according to Gartner, Inc. Gartner, an information technology research and advisory company based in

News InsuranceProfessional DevelopmentTechnology

CSIO introduces new eSignatures savings calculator

April 26, 2016 by Canadian Underwriter

The Centre for Study of Insurance Operations (CSIO) announced on Tuesday that it has released its new eSignatures Savings Calculator tool, which supports members in determining the return on investment (ROI) of adopting an eSignatures solution. The calculator estimates the

News CatastrophesInsuranceProfessional DevelopmentTechnology

Aviva Canada, ICLR team up for free emergency preparedness mobile app

April 26, 2016 by Canadian Underwriter

Aviva Canada has partnered with the Institute for Catastrophic Loss Reduction (ICLR) for the creation of a free emergency preparedness mobile app. The free Plan & Protect app, announced on Tuesday, can be downloaded to mobile devices, where users will