Topic
Technology
38 road deaths from distracted driving investigated year to date: OPP
August 31, 2016 by Canadian UnderwriterThe Ontario Provincial Police recently suggested that so far this year, it has investigated 38 road deaths in which a distracted driver was involved. “As of mid-August, the OPP has investigated 38 road deaths in which an inattentive driver was…
Industry must innovate or become irrelevant, conference speaker cautions
August 31, 2016 Angela Stelmakowich, EditorThe insurance industry will likely face what could be its biggest shift ever over the next decade and successful navigation will demand greater collaboration with a wider group of organizations, Mike Key, SAP’s vice president of business development, Global Core…
Customer expectations require carriers to move to digitalization
August 31, 2016 Angela Stelmakowich, EditorThere is a need to move beyond digitization to digitalization if insurance carriers expect to truly be prepared to address customer expectations in the digital age, Avi Greenfield, senior manager of product strategy for OpenText Exstream, said Tuesday at Insurance-Canada.ca’s…
Speed trumps quality for insurers working on digital experience: Executive Forum Speaker
August 30, 2016 Greg Meckbach, Associate EditorInsurance 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,…
Takata troubles worsen as truck explodes, kills Texas woman
August 30, 2016 Tom Krisher - THE ASSOCIATED PRESSDETROIT – 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…
Adaptation key for insurance industry to remain relevant in a driverless world: LexisNexis
August 30, 2016 by Canadian UnderwriterThe 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.…
FAA forecast: 600,000 commercial drones within the year
August 29, 2016 Joan Lowy - THE ASSOCIATED PRESSWASHINGTON – 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…
Global IT spending forecast to reach US$2.7 trillion in 2020, led by financial services, manufacturing and healthcare
August 29, 2016 by Canadian UnderwriterWorldwide 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…
Saskatchewan working to develop comprehensive flood risk assessment
August 28, 2016 The Canadian PressREGINA – 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.…
Frank Cowan introduces drone endorsements for liability and property policies
August 28, 2016 by Canadian UnderwriterFrank 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…
Stand-alone cyber coverage had direct loss ratio of 65.2%: Fitch
August 25, 2016 by Canadian UnderwriterCyber-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…
Gap exists between opportunity, willingness to take part in usage-based insurance programs in U.S.: LexisNexis
August 25, 2016 by Canadian UnderwriterThere 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…