Canadian Underwriter

Topic
Technology


News ClaimsInsuranceTechnology

How IoT devices can cause a liability headache for insurers

September 23, 2019 by Jason Contant

Internet of Things (IoT) devices can create complications for insurers, potentially including a priority dispute or, worse, an unpaid claim, a specialist carrier told Canadian Underwriter recently. Charlie Murray, international technology team leader with CFC Underwriting, used the example of

News ClaimsInsuranceMarkets / CoveragesTechnology

How E&O needs to change for emerging tech companies

September 20, 2019 by Jason Contant

Does a one-size-fits-all basic tech errors and omissions (E&O) policy that covers things like breach of contract or negligence still suffice for an emerging tech company? “Most probably not,” said Charlie Murray, international technology team leader with specialist insurer CFC

News InsuranceLegislation / RegulationTechnology

Should insurers self-regulate this field of study?

September 18, 2019 by Jason Contant

Insurers should consider self-regulating machine learning practices before regulations are imposed on them, a speaker suggested last week at the Connected Insurance Canada conference in Toronto. Moderator Stephen Applebaum, principal at Insurance Solutions Group, asked panelists if regulators understand machine

News InsuranceTechnology

Focus on these three areas when developing AI best practices

September 17, 2019 by Jason Contant

Financial institutions looking to adopt and develop best practices on the responsible use of artificial intelligence (AI) should focus on three areas: explainability, bias and diversity, experts say. A new TD Bank Group survey of 1,200 Canadians found that a

News AssociationsBrokersInsuranceTechnology

D/X initiative breaks ground with real-time first notice of loss transaction

September 12, 2019 by Jason Contant

Broker-insurer connectivity took a step forward this week, when the Insurance Brokers Association of Canada (IBAC)’s data exchange working group announced it had completed a first notice of loss (FNOL) transaction in real-time. The working group developed the first FNOL

News InsuranceProfessional DevelopmentTechnology

Now that we’ve got Millennials working in the P&C industry, how do we keep them?

September 12, 2019 by Jason Contant

Despite research showing that Millennials now make up the largest generational cohort in Canada’s property and casualty insurance industry, the industry still has some work to do to keep Millennials engaged once they’ve made the jump into the profession, according

News ClaimsInsuranceTechnology

Ransomware: should your client pay the demand?

September 11, 2019 by Jason Contant

If your client suffers a ransomware attack, should they pay the ransom to get their systems up and running again? And if they do pay, does that guarantee the cyber criminals who locked down the systems in the first place

News LegalRiskTechnology

Scheer promises to create ‘Canada Cyber Safe’ certification for digital

September 9, 2019 Giuseppe Valiante - THE CANADIAN PRESS

MONTREAL – Conservative party Leader Andrew Scheer is trying to reassure Canadians that if elected, his government would better protect their personal information following recent high-profile security breaches at major corporations that compromised the data of millions of Canadians. A

News InsuranceTechnology

Will the gig and sharing economy kill bundled policies?

September 6, 2019 by Adam Malik

The rise of the gig and sharing economies stands to kill a traditional insurance selling feature: bundled policies. That means it’s time to change the way the industry approaches its selling strategy, one insurance expert believes. The growth of gig

News Claims CanadaRiskTechnology

Cybercriminals manipulate their way into company computers

September 6, 2019 Joyce M. Rosenberg - THE ASSOCIATED PRESS

NEW YORK – The cybercriminal who steals information or money from a small business is probably a master of deception and manipulation as well as a techno-expert. When Nancy Butler got a call from someone claiming to be from her

News InsuranceTechnology

Does your new tech actually make clients’ lives easier?

September 5, 2019 by Adam Malik

So you’ve just installed this new digital doodad to make your customer’s life easier – great. But did you inadvertently just make things more frustrating for your client? Warren Lederer, chief operating officer at Madison Advisors, which works in the

News BrokersInsuranceTechnology

Why the insurance industry should consider partnering with Google and Amazon

September 5, 2019 by Adam Malik

Don’t scoff at the prospect of Silicon Valley tech giants getting into the insurance business – and the insurance industry should consider partnerships with them, one expert said at a recent conference. Denise Garth, Majesco’s senior vice president of strategic