Canadian Underwriter

Topic
Technology


News InsuranceTechnology

Analytics expert warns against ‘data hoarding’

September 26, 2018 by Greg Meckbach

Electronic data can be a powerful tool and is not expensive to store, but it’s only useful if you have a strategy behind it, speakers said during this week’s Insurance Analytics Canada Summit. “If you don’t have a data strategy,

News CatastrophesTechnology

Must-have for insurers to underwrite overland flood

September 26, 2018 by Greg Meckbach

Artificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked

News RiskTechnology

How cyber risk managers can detect something that does not look right

September 25, 2018 by Greg Meckbach

Machine learning – which some brokers use to make chatbots – can also help companies improve cyber risk by flagging abnormal activity. Machine learning is a type of artificial intelligence, which mimics human cognition and activities, such as identifying patterns.

News InsuranceTechnology

Canadian firms fall behind in adoption of artificial intelligence: Forbes

September 25, 2018 The Canadian Press

MONTREAL – A new report says artificial intelligence deployment has not yet been a “real success” for Canadian companies, in spite of the country’s reputation as an AI hotbed. The study from Forbes Insights ranks Canada last out of 10

News InsuranceReinsuranceTechnology

How blockchain can help fight insurance fraud

September 24, 2018 by Jason Contant

Blockchain for insurance has various oft-touted benefits – reduced costs and simpler and faster transactions, among them – but it can also be used to combat fraud, said David Verbeeten, a domain expert in insurance at software company ConsenSys. Verbeeten

News BrokersLegislation / RegulationTechnology

Why cyber can be a hard sell for brokers

September 24, 2018 by Greg Meckbach

Data breaches are all over the news, but convincing some corporate clients to spend in the neighbourhood of $1,000 a year for insurance coverage can be an uphill battle. Some cyber insurance products cost around $100 a year, but those

News InsuranceRiskTechnology

Is technology creating an ‘underwriter in a box’?

September 22, 2018 by Jason Contant

We often hear how the property and casualty insurance industry is slow to adopt technology, but is it possible the industry is actually becoming overly reliant on technology? Yes, said Neil Mitchell, CEO of Player’s Health Cover and former managing

News BrokersInsuranceTechnology

How artificial intelligence can help brokers close sales

September 20, 2018 by Greg Meckbach

Artificial intelligence could help a brokerage figure out how likely a prospective client is to actually buy insurance. At least that’s what officials with Surex Direct are hoping. Magreth, Alta.-based Surex Direct places home, auto and commercial lines and says

News ClaimsMergers and AqcuisitionsTechnology

How corporate mergers impact cyber risk

September 19, 2018 by Greg Meckbach

Cyber risk goes up if a company goes through a merger or acquisition, an information security consultant suggests. One way your client can reduce cyber risk is to know what hardware and software is on their computer network, Jeremy Hurst,

News ClaimsInsuranceTechnology

Mitchell data confirms increased Canadian collision costs

September 17, 2018 by Jason Contant

Recent data from Mitchell International seems to confirm what Canadian insurers have been saying: collision repair costs and severity potential is increasing. On Sept. 11, Mitchell released its Canada Collision Summary: Q2 2018 report. It includes Canada-specific data from body

News RiskTechnology

How insurers can tell real online consumers from fake ones

September 17, 2018 by Jason Contant

Being able to quickly identify a “true” customer compared to a synthetic identity created by a cybercriminal can help insurers tailor offerings to the right customers early in the account creation process, a security engineer said Friday. “If you know

News RiskTechnology

Machines to handle over half of workplace tasks by 2025, report says

September 17, 2018 Jamey Keaten - THE ASSOCIATED PRESS

GENEVA – More than half of all workplace tasks will be carried out by machines by 2025, organizers of the Davos economic forum said in a report released Monday that highlights the speed with which the labour market will change