Canadian Underwriter

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Technology


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Speed trumps quality for insurers working on digital experience: Executive Forum Speaker

August 30, 2016 Greg Meckbach, Associate Editor

Insurance companies aiming to create value for their customers would be well advised to look beyond the “front end” of their customer-facing computer applications, implement their services before their competitors and recognize the importance of the “geeks” in their organizations,

News InsuranceMergers and AqcuisitionsTechnology

Takata troubles worsen as truck explodes, kills Texas woman

August 30, 2016 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – Air bag maker Takata Corp.’s troubles worsened Monday as the company confirmed that a truck carrying its inflators and a volatile chemical exploded last week in a Texas border town, killing a woman and injuring four others. The

News InsuranceMergers and AqcuisitionsTechnology

Adaptation key for insurance industry to remain relevant in a driverless world: LexisNexis

August 30, 2016 by Canadian Underwriter

The insurance industry will face some real challenges as driverless cars further develop, with just 26% of polled individuals in the United Kingdom expecting to be served by the industry as it stands today if they owned a driverless car.

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

FAA forecast: 600,000 commercial drones within the year

August 29, 2016 Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – There will be 600,000 commercial drone aircraft operating in the U.S. within the year as the result of new safety rules that opened the skies to them on Monday, according to a Federal Aviation Administration estimate. The rules

News InsuranceMarkets / CoveragesTechnology

Global IT spending forecast to reach US$2.7 trillion in 2020, led by financial services, manufacturing and healthcare

August 29, 2016 by Canadian Underwriter

Worldwide revenues for information technology products and services will grow from nearly US$2.4 trillion in 2016 to more than US$2.7 trillion in 2020, according to the International Data Corporation (IDC). A newly published update to the Worldwide Semiannual IT Spending

News CatastrophesInsuranceTechnology

Saskatchewan working to develop comprehensive flood risk assessment

August 28, 2016 The Canadian Press

REGINA – The Saskatchewan government is developing a provincial flood and natural hazard risk assessment. Emergency management commissioner Duane McKay says risk assessments have been done in several areas of government and by municipalities, but acknowledges there’s no province-wide plan.

News InsuranceMergers and AqcuisitionsTechnology

Frank Cowan introduces drone endorsements for liability and property policies

August 28, 2016 by Canadian Underwriter

Frank Cowan Company announced on Friday that its liability and property policies can now be enhanced with endorsements to cover drones. The Princeton, Ont.-based managing general agent said in a statement that the drone/unmanned aerial vehicle (UAV) coverage “is intended

News InsuranceMergers and AqcuisitionsTechnology

Stand-alone cyber coverage had direct loss ratio of 65.2%: Fitch

August 25, 2016 by Canadian Underwriter

Cyber-related insurance products present a “significant growth opportunity” for property and casualty insurance carriers, with more than a third of the U.S. market held by American International Group Inc. and Chubb Ltd., Fitch Ratings Inc. suggested in a report announced

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Gap exists between opportunity, willingness to take part in usage-based insurance programs in U.S.: LexisNexis

August 25, 2016 by Canadian Underwriter

There is an apparent gap between polled U.S. drivers who are open to taking part in usage-based insurance (UBI) and those who are provided the opportunity to do so, suggest survey results released today by LexisNexis Risk Solutions. That disconnect

News InsuranceMergers and AqcuisitionsTechnology

Pokémon Go risks include distracted driving, exposure of confidential data: Northbridge

August 24, 2016 by Canadian Underwriter

Northbridge Insurance recently warned of several risks arising from the Pokémon Go computer game, including exposure of confidential information, liability exposure and distracted driving. “Augmented reality games usually require your GPS location and a data connection (either WiFi or cellular

News InsuranceMarkets / CoveragesTechnology

InsurTechs driving disruptive innovation in insurance customer engagement: U.S. report

August 24, 2016 by Canadian Underwriter

While the vast majority of surveyed insurance executives and InsurTech professionals in the United States are engaged in redesigning the customer experience, two-thirds do not have a full grasp of how evolving digital ecosystems can impact customer acquisition and customer

News InsuranceLegalTechnology

U.S. companies unnecessarily granting access to more than just privileged users: study

August 23, 2016 by Canadian Underwriter

Nearly six in 10 IT operations and security managers in the United States believe their organizations are unnecessarily granting access to individuals beyond their roles or responsibilities, according to a new survey released on Tuesday. The Ponemon Institute survey commissioned