Topic
Technology
Use of technology could help to enhance compliance efforts: KPMG LLP report
March 14, 2017 by Canadian UnderwriterThe majority of chief compliance officers (CCO) in the United States taking part in a KPMG LLP survey are struggling to integrate and automate compliance activities across their organizations. Six in 10 polled CCOs report “their company’s technology infrastructure has…
Intel to acquire driver assistance systems manufacturer Mobileye
March 13, 2017 by Canadian UnderwriterMobileye N.V., whose vehicle-mounted technology is designed to anticipate collisions, has agreed to be acquired by microprocessor manufacturer Intel Corp. Intel said Monday that one of its subsidiaries “will commence a tender offer” to acquire Mobileye shares for US$63.54 in…
Scotiabank announces it will provide $2 million for cyber security and financial data initiative at UBC
March 13, 2017 by Canadian UnderwriterScotiabank’s $2 million funding injection seeks to support the ability of the Scotiabank Cybersecurity and Risk Analytics Initiative at the University of British Columbia (UBC) to accelerate cyber security and financial risk research in Canada. “Data theft costs organizations billions…
Uber self-driving cars are coming back to California roads
March 10, 2017 The Associated PressSACRAMENTO, Calif. – Uber’s self-driving cars will return to California’s streets, though the ride-hailing company doesn’t immediately plan to pick up passengers. Uber received a permit Wednesday to test two Volvo SUVs on public roads, the California Department of Motor…
ATB Financial joins R3 distributed ledger consortium
March 10, 2017 by Canadian UnderwriterATB Financial announced Thursday that the Alberta-based financial services provider has joined the consortium of financial innovation firm R3 to design and apply distributed and shared ledger-inspired technologies to global financial markets. The company will be collaborating with more than…
Incumbent insurers should rethink businesses, embrace opportunity in digital technology: McKinsey & Company
March 9, 2017 by Canadian UnderwriterThe insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying…
Driverless cars to “revolutionize” motor insurance as liability shifts towards manufacturers: Fitch
March 8, 2017 by Canadian UnderwriterWidespread adoption of autonomous vehicles will completely transform the motor insurance sector in the long-term as liability shifts towards manufacturers and the traditional risk pool shrinks, Fitch Ratings said in a new report on Wednesday. Simply put, insurers will be…
Ridesharing anticipated in B.C. by “end of 2017,” province unveils measures to help taxi industry modernize
March 8, 2017 by Canadian UnderwriterThe government of British Columbia announced on Tuesday a series of improvements for the taxi industry in anticipation of “ride-sharing services coming to British Columbia by the holiday season at the end of 2017,” including improving certain insurance products, potentially…
Panelists warn of risks from room rentals through sharing economy
March 7, 2017 Greg Meckbach, Associate EditorProperty owners who want to rent their places to travellers using the “sharing economy” need special insurance coverage and one large risk is when they prepare food for customers, speakers suggested Tuesday at an event hosted by Allianz Global Assistance.…
U.S.-based DrivSafe launches mobile telematics app in Canada
March 7, 2017 by Canadian UnderwriterDrivSafe, a Boston, Mass.-based mobile telematics solutions company that specializes in telematics and analytics for the auto insurance industry, has announced the launch of its mobile app in Canada. The DrivSafe app helps auto insurance companies evaluate the driving habits…
ICBC, B.C. government and police unite for enforcement crackdown on distracted driving
March 7, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC), the provincial government and police across B.C. are joining forces in March to raise awareness of the dangers and consequences of distracted driving. “Despite tougher penalties and increased education, distracted driving still contributes…
Global market for autonomous, assistive safety and comfort vehicle features up to US$26 billion annually by 2025: Bain & Company
March 7, 2017 by Canadian UnderwriterAutonomous vehicles are revving up, with Bain & Company Inc. forecasting annual growth of 12% to 14% for the global market of autonomous and assistive safety and comfort features by 2025. That translates to a global B2B market of US$22…