Topic
Technology
Insurtech platform revenues to approach US$235 billion by 2021, driven by machine learning and blockchain adoption: report
December 13, 2016 by Canadian UnderwriterFintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said…
Chubb introduces Cyber COPE, a new model for underwriting cyber insurance
December 13, 2016 by Canadian UnderwriterChubb announced on Tuesday that it has introduced Cyber COPE, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. Authored by Ross Cohen, director of cyber/privacy services…
WeGoLook in discussions with Canadian insurers as acquisition by Crawford & Company proceeds
December 12, 2016 by Canadian UnderwriterWeGoLook LLC has “discussions ongoing” with several Canadian insurance carriers, the Oklahoma City-based firm’s chief executive officer told Canadian Underwriter Monday. WeGoLook provides “an array” of insurance services for automobiles, accident scenes, damaged property, document retrieval, salvage and courier services,…
Search and rescue crews in B.C. launch UAV pilot
December 12, 2016 by Canadian UnderwriterEmergency Management BC (EMBC) announced on Friday its endorsement of a one-year pilot project for the use of unmanned aerial vehicles (UAVs or drones) by search and rescue crews in Coquitlam and Kamloops. Minister of State for Emergency Preparedness Naomi…
Personal and health-related information most desirable breach target, big risk for insurance: KPMG speaker
December 12, 2016 Angela Stelmakowich, EditorData breaches involving personal and health-related information are a “huge risk for those in the insurance industry” given that the shelf-life of the data likely runs as long as the affected individual remains alive, Kevvie Fowler, national leader of cyber…
PM hails national climate change deal, but without Saskatchewan, Manitoba
December 11, 2016 Bruce Cheadle - THE CANADIAN PRESSOTTAWA – Prime Minister Justin Trudeau declared victory Friday in his campaign to craft a national “framework” agreement on climate change – even though Saskatchewan and Manitoba refused to sign on to the deal and British Columbia claimed a major…
80% of the small-medium business market in the U.S. “significantly underserved” by insurers: Majesco
December 9, 2016 by Canadian UnderwriterSmall-medium businesses (SMBs) with less than 10 employees – or nearly 80% of all firms in the United States – have “significantly negative views of insurers and employee benefits providers, creating an opportunity for new, innovative business models, products and…
ICBC identifies over 3,000 possible fraud alerts on open claims with new analytics software
December 9, 2016 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) has discovered 3,300 possible fraud alerts on open claims over the last three years following a review with a new analytics tool. ICBC reported on Thursday that it has signed a five-year agreement…
Insurance industry needs more focus on the long-term, OSFI’s Henderson suggests at KPMG conference
December 8, 2016 Jason Contant, Online EditorThe insurance industry as a whole needs to focus more on long-term issues, Neville Henderson, the assistant superintendent of the insurance supervision sector of the Office of the Superintendent of Financial Institutions (OSFI), suggested on Wednesday. Speaking at KPMG’s 25th…
Insurance undergoing “a fundamental structural change”: KPMG speaker
December 8, 2016 by Angela StelmakowichThe insurance industry is undergoing structural change with the emergence of platform-based business models and insurers need to ready themselves to be able to take part, Matthew Smith, insurance co-lead for the Global Strategy Group at KPMG, suggested during the…
Northbridge Insurance covering ridesharing service in Waterloo, Ontario area
December 8, 2016 by Canadian UnderwriterNorthbridge General Insurance Corporation is writing an auto policy for RideCo, which provides what RideCo calls “personalized, express transit service” in the Kitchener-Waterloo, Ontario area, Northbridge Insurance announced Thursday. “The Northbridge Insurance policy is issued to RideCo, with both RideCo,…
Belairdirect launches simplified home insurance quote tool
December 8, 2016 by Canadian UnderwriterOnline insurance company belairdirect has launched a new home insurance “quick quote” tool aimed at reducing the amount of time customers typically spend obtaining such a quote. Belairdirect said in a press release on Thursday that tool, “accessible through any…