Topic
Technology
83% of U.S. carriers believe leveraging smart home and IoT technology will attract new customers, improve customer relationships: study
April 4, 2017 by Canadian UnderwriterMore than 80% of homeowners insurance carriers in the United States believe that smart home and Internet of Things (IoT) technology will attract new property and casualty customers and improve customer relationships, according to a new report from NTT DATA.…
McDonald’s Canada says info of 95,000 job applicants compromised
April 3, 2017 The Canadian PressTORONTO – McDonald’s Canada says the jobs section of its website has been hacked, compromising the personal information of about 95,000 applicants over the last three years. The company said Friday the accessed information included names, addresses, phone numbers, employment…
Brokered Advance
April 1, 2017 Jason Contant, Online Editor; and Angela Stelmakowich, EditorTechnology was the main item on the menu at the 2nd Annual Insurance-Canada.ca Broker Forum. As quickly as things are changing for brokers and their partners – driven, in large part, by customer wants and demands – is the breadth of options available for brokers to sample.
Aerial Manoeuvres
April 1, 2017 Jeffrey McCann, Vice President, Digital Strategy, Shaw Sabey & AssociatesBrokers will play a critical role as trusted risk management advisors in the rapidly expanding drone industry. Brokers need to inform their customers that as soon as the rotors are turning, a standard general liability policy no longer responds, and either an aviation policy or an endorsement is required.
Cyber Aware
April 1, 2017 Hershel Sahian, Partner; and Andrew Cottreau, Student-At-Law, Hughes Amys LLPCyber crime is on the rise. A study released by Juniper Research in mid-2015 projected that by 2019, the global cost of cyber crime will reach more than US$2 trillion, increasing to almost four times the estimated cost of breaches…
The Great Data Shake-Up
April 1, 2017 Brenda Rose, Vice President and Partner, FCA Insurance BrokersMajor upheavals within many insurers’ underlying systems are necessary to answer the changing needs of the insurance world and the changing demands of consumers. Brokerages, in turn, will need to stay current with broker management system software releases to both access new connectivity capabilities and be able to offer the full set of data required by insurers.
Worldwide spending on security technology expected to reach US$81.7 billion in 2017: International Data Corporation
March 31, 2017 by Canadian UnderwriterWorldwide spending on security technology is forecast to reach US$81.7 billion this year, according to a recently released guide from International Data Corporation (IDC), a global provider of market intelligence, advisory services and events for the information technology, telecommunications and…
Artificial intelligence and Internet of Things accounted for nearly half of insurtech funding globally in 2016: Accenture
March 31, 2017 by Canadian UnderwriterArtificial intelligence (AI) and the Internet of Things (IoT) now account for almost half of total investment in insurance technology (insurtech) startups globally, according to new research from global professional services company Accenture. The research, which includes new analysis of…
Long-term data strategy will allow for making the most of the information: OMIA’s Taylor
March 31, 2017 by Angela StelmakowichMutual insurers need a long-term plan to ensure they meet the twin goals of capitalizing on the opportunities that data offers and continue to staying true to serving customers, the head of the Ontario Mutual Insurance Association (OMIA) suggested Thursday.…
Federal, Ontario governments invest in Ford Canada centre focusing on connectivity
March 30, 2017 by Canadian UnderwriterJustin Trudeau has announced a joint federal and Ontario government investment in the Ford Motor Company of Canada, part of which will help establish a new research and engineering centre focusing on connectivity research and development. Prime Minister Justin Trudeau…
Office of the Privacy Commissioner of Canada to fund project on connected cars code of practice
March 30, 2017 by Canadian UnderwriterThe Office of the Privacy Commissioner of Canada will soon be funding an arms-length project to develop a code of practice for connected cars, weighing a balance between information flow and privacy protection. “The benefits available to Canadians through the…
Silicon Valley Insurance Accelerator launches insurtech innovation lab
March 30, 2017 by Canadian UnderwriterSilicon Valley Insurance Accelerator (SVIA) announced on Thursday the launch of its InsurTech Innovation Lab, which can “fast track projects from simple proof of concepts to standing up complete solutions, products and even companies.” The research, design and development centre…