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Fraud survey reveals Canadians’ fears about safety of personal information

March 7, 2018 by Jason Contant

Nearly four in 10 (39%) of Canadians fear that their personal information has been compromised. The annual fraud survey, released on Wednesday, was commissioned by the Chartered Professional Accountants of Canada and conducted last month. Three-quarters (76%) of 1,000 Canadians

News Legislation / RegulationTechnology

B.C. experiments with tech that blocks handheld use while driving

March 7, 2018 Greg Meckbach, Associate Editor

A telematics trial intended to address distracted driving in British Columbia is now underway. Insurance Corporation of British Columbia said March 2 it is “working with 139 drivers” in the province on a pilot project intended to block the use

News ClaimsInsuranceTechnology

How mobile apps can help expedite total loss appraisals

March 7, 2018 by Jason Contant

Mobile apps that allow policyholders to upload photos of damaged vehicles from auto accidents can help speed up the claims process, particularly for those involved in a total loss, the president of the Canadian Independent Adjusters Association (CIAA) said on

News InsuranceMarkets / CoveragesReinsuranceTechnology

Comparing insurance contracts? How AI can help expedite the process

March 5, 2018 by Jason Contant

Global reinsurer Swiss Re is employing artificial intelligence (AI) to trace relationships between insurance contracts, all the way down to a single clause, allowing underwriters to process a submission much faster. Mike Fitzgerald, senior insurance analyst with financial consulting firm

News InsuranceTechnology

Mobile app resolves Aviva’s auto claims 20-40% faster in trial tests

March 5, 2018 Greg Meckbach, Associate Editor

Aviva Canada auto policyholders whose vehicles get damaged in accidents can get their claims processed by taking pictures and uploading them to a mobile app, Aviva Canada announced recently. The app, AvivaExpress, was developed by Chicago-based Snapsheet and is available

News ClaimsInsuranceMarkets / CoveragesTechnology

For how long will a ransomware attack knock out your client’s operations?

March 5, 2018 by Jason Contant

Companies in Canada and the United States can expect one week of downtime as a result of a ransomware attack, speakers said at NetDiligence’s recent Cyber Risk Summit in Toronto. “A decryption effort, even in the best case scenario, is

News InsuranceMarkets / CoveragesTechnology

Province working on technology to ease damage in flood season

March 5, 2018 Kevin Bissett - THE CANADIAN PRESS

FREDERICTON – Flood forecasters in New Brunswick are using new technology to track snow loads and ice movement, hoping more information leads to less damage. Jasmin Boisvert, a water services specialist with the Department of Environment and Local Government, says

insPRESS AnnouncementsClaimsInsuranceTechnology

Opta Information Intelligence and Risk Management Services Combine Forces to Meet Evolving Needs of Canadian Insurers

March 5, 2018 Opta Information Intelligence

TORONTO, March 5, 2018 /insPRESS/ – Opta Information Intelligence (Opta) and sister company Risk Management Services (RMS) are proud to announce the integration of the two companies. Going forward we will be expanding our suite of services and innovation solutions for the

News Technology

Bank of England chief slams cryptocurrencies; urges action

March 2, 2018 Pan Pylas - THE ASSOCIATED PRESS

LONDON – Bank of England Governor Mark Carney on Friday launched a withering attack on cryptocurrencies such as bitcoin and urged regulators around the world to monitor them in the same way as other financial assets. In a speech to

News ClaimsLegalTechnology

One easy way to reduce ransomware risk

March 2, 2018 Greg Meckbach, Associate Editor

Risk managers who teach employees what suspicious email looks like can drastically reduce the risk of being hit with ransomware, a commercial insurer executive said Wednesday. Ransomware is when criminals hack into computer systems, encrypt files and demand a ransom

News InsuranceTechnology

Brokers seek carrier support for study of industry real-time data solution

March 1, 2018 by David Gambrill

Ontario brokers are attempting to marshal industry-wide support for an API hub solution that would provide real-time data exchange between insurance carriers and the broker channel. “What we’re asking is that the carriers support the [Insurance Brokers Association of Ontario]

News InsuranceTechnology

How AI increased this brokerage’s sales leads by 13%

March 1, 2018 David Gambrill, Editor-in-Chief

Using artificial intelligence (AI) to understand the likelihood of individual consumers making an auto insurance purchase, insurance broker Kanetix Ltd. was able to achieve a 13% lift on its call volume and lead generation. “AI is something that the Insurance