Canadian Underwriter

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Technology


News CatastrophesInsuranceMergers and AqcuisitionsReinsuranceTechnology

Resiliency plans increasingly important, plans will never be perfect

September 13, 2016 by Angela Stelmakowich

CALGARY — Resiliency plans are unlikely to ever be perfect, but they are an increasingly important element of an organization’s response to crises, two speakers who as individuals and members of their companies were intimately affected by the 9/11 terror

News InsuranceMergers and AqcuisitionsTechnology

Autonomous vehicles may reduce U.S. motor premiums by more than 40% by 2050: Aon Benfield

September 13, 2016 by Canadian Underwriter

Autonomous vehicles may reduce motor pure premiums in the United States by more than 40% by the time they “reach full adoption in 2050,” according to a recent Global Insurance Market Opportunities report from Aon Benfield. Aon Benfield, the global

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

AIG Innovation Challenge for Canadian-based startups in Toronto on Dec. 9

September 13, 2016 by Canadian Underwriter

AIG Canada, in partnership with the Consulate General of Canada in San Francisco and Silicon Valley, will be hosting the AIG Innovation Challenge on Dec. 9 in Toronto. AIG Canada will select 10 Canadian-based startups to pitch their products, services

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Industry must more effectively harness potential of satellite, drone and aerial technologies: Guy Carpenter’s head of cat planning & response

September 12, 2016 by Canadian Underwriter

Advances in the development of “visual intelligence” based on multiple data sources, including satellite imagery and drone footage, have the potential to significantly enhance claims and catastrophe response processes and underwriting decision making when companies harness that potential effectively, according

News Earnings / RatingsInsuranceMarkets / CoveragesReinsuranceTechnology

Technology driving long-term transformation of the insurance industry; price levels expected to stabilize: Swiss Re

September 12, 2016 by Canadian Underwriter

Technological developments will profoundly change the way in which the re/insurance industry develops, distributes, underwrites and administers the insurance protection it sells to consumers, Swiss Re said on Monday. New technologies such as cognitive and cloud computing as well as

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Global banking, financial services and insurance security market to grow to US$48.95 billion by 2021: report

September 9, 2016 by Canadian Underwriter

The global banking, financial services and insurance (BFSI) security market is estimated to grow to nearly US$50 billion by 2021, driven by regulatory, security and cyber factors. Market research firm MarketsandMarkets said in a report released Thursday that the BFSI

News InsuranceLegalMarkets / CoveragesTechnology

One cryptomalware attack can cost a small- or medium-sized business up to US$99,000: Kaspersky

September 9, 2016 by Canadian Underwriter

One cryptomalware attack can cost a small or medium business (SMB) up to US$99,000 on average, according to recent research from global cybersecurity company Kaspersky Lab. And “despite the fact that cybercriminals do not guarantee the return of corporate data,

News AssociationsInsuranceLegalMergers and AqcuisitionsTechnology

Quebec taxi lobby furious with Uber deal; considering legal action, protests

September 9, 2016 The Canadian Press

MONTREAL – Quebec’s taxi lobby called the government’s nascent deal with Uber a betrayal and a humiliation, while Premier Philippe Couillard countered Thursday the one-year pilot project doesn’t pose a threat to the traditional cabbie industry. Taxi drivers blocked traffic

News CatastrophesInsuranceTechnology

Scientists use undersea drones to help predict hurricanes

September 8, 2016 Mark Pratt - THE ASSOCIATED PRESS

BOSTON – As Hermine worked its way up the East Coast, scientists deployed several underwater drones they say will help them better understand what sustains and strengthens hurricanes and tropical storms – and ultimately better protect life and property. The

News InsuranceMergers and AqcuisitionsTechnology

Changes to SGI’s Safe Driver Recognition program take effect in October

September 8, 2016 by Canadian Underwriter

Changes to Saskatchewan Government Insurance’s (SGI) Safe Driver Recognition (SDR) program, which rewards the safest drivers with the biggest discounts and imposes stiffer consequences for high-risk drivers, take effect on Oct. 12. The program was implemented in 2002 to reward

News InsuranceLegalProfessional DevelopmentTechnology

Report details missed opportunities to stop OPM cyber breach

September 7, 2016 Eric Tucker - THE ASSOCIATED PRESS

WASHINGTON – It was time to purge the hacker from the U.S. government’s computers. After secretly monitoring the hacker’s online movements for months, officials worried he was getting too close to critical information and devised a plan, dubbed “the Big

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Symcor announces strategic relationship with Majesco to deliver a cloud-based solution to Canadian insurers

September 7, 2016 by Canadian Underwriter

Symcor Inc., a Canadian provider of business processing and client communications management systems, announced on Wednesday a strategic relationship with Majesco, a global provider of core insurance software, consulting and services for insurance business transformation. The strategic relationship adds Majesco’s