Canadian Underwriter

Topic
Technology


News InsuranceTechnology

Paid This is how savvy commercial underwriters are getting ahead of the competition

June 13, 2018 Opta Information Intelligence

In a fiercely competitive and increasingly challenging commercial lines marketplace, Opta Information Intelligence’s Commercial Perils Solution can now display an unparalleled scope of risk related insight to a particular piece of business. Allowing savvy underwriters to better manage their existing

News ClaimsInsuranceTechnology

The untapped potential of telematics in auto claims

June 12, 2018 by Greg Meckbach

Telematics, which records data on vehicle behaviour, is used now mainly for underwriting, but the technology can also provide a treasure trove of information for claims adjusters, one vendor suggests. Auto insurance claims adjusters could potentially use telematics to determine

News Technology

Google, Big 4 accounting firm dive into omnichannel insurance game

June 11, 2018 by Greg Meckbach

Google and KPMG LLP are targeting insurers with clients who want to communicate in a variety of ways – whether by phone, email, text message or even snail mail. KPMG recently announced Intelligent Interactions, available now, which KPMG is offering

News InsuranceMarkets / CoveragesTechnology

How fast are standalone cyber premiums growing in Canada?

June 11, 2018 by Jason Contant

Standalone cyber insurance premiums in Canada are expected to be worth about $68 million in 2020, an increase at a compound annual growth rate of 15.8% relative to the 2016 estimate, Finaccord said Monday. Alan Leach, director of the London,

News InsuranceTechnology

How are your clients finding you? Follow the voice…

June 10, 2018 by Jason Contant

Using voice search is a key way for brokers to remove friction from the purchase process, Andrew Lo, president and CEO of Kanetix Ltd., said last week at Insurance Canada.ca’s Technology in Action seminar in Toronto. Lo used the example

News BrokersInsuranceTechnology

From days to minutes: New tech overhauls quote and bind process

June 10, 2018 by Jason Contant

The launch of the new broker technology Vyne will eliminate some of the “inefficient steps” that brokers have to take between quoting and binding, potentially reducing the quote and bind process from days or weeks to just minutes, the company

News InsuranceTechnology

How telematics affected this insurer’s loss ratio

June 10, 2018 by Greg Meckbach

Could Canadian insurers cut auto claims costs by 15% by using telematics? Perhaps, if they could somehow import the experience of European insurers. An unnamed European insurer compared its auto insurance customers who were using telematics with its customers who

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Privacy Commissioner gives brokers more ammunition to sell cyber policies

June 6, 2018 by Jason Contant

Canada’s privacy commissioner is looking to add some bite to the country’s federal privacy laws. And if you need another reason to keep cyber insurance top of mind for your clients, look no further than a recent survey from the

News InsuranceMarkets / CoveragesTechnology

Why Canadians don’t want to buy insurance from Amazon, Facebook or Google

June 5, 2018 by Jason Contant

Canadians are less likely than others around the world to buy insurance products from “BigTech” companies such as Amazon, Facebook and Google. Not that other consumers from around the world are in a big rush to buy their insurance from

News InsuranceTechnology

Patience urged of insurers who don’t see value in their early AI investments

June 5, 2018 by Jason Contant

Despite all the hype about artificial intelligence (AI), and the significant investment in it, most global insurers don’t think they are getting value from their investment. In fact, 85 per cent of more than 1,000 global executives polled by McKinsey

News BrokersInsuranceTechnology

Economical rolls out Vyne for brokers in select areas

June 4, 2018 by Jason Contant

Economical Insurance launched its new broker technology, Vyne, in New Brunswick and Prince Edward Island Monday. For use in personal lines and individually rated commercial auto (IRCA), Vyne is a Guidewire-based computer system aimed at streamlining workflows for brokers. The

News InsuranceTechnology

Ontario Election 2018: Trailing Liberals promise auto insurance discounts

June 4, 2018 by Greg Meckbach

Polls show the Ontario Liberals will not likely govern the province after the election this Thursday but, for what it’s worth, a vote for Liberal candidates is a vote for insurance discounts for motorists who use apps intended to discourage