Canadian Underwriter

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Technology


News InsuranceLegislation / RegulationRiskTechnology

Where Canada should look for regulation on autonomous vehicles

September 10, 2018 by Jason Contant

Canadian provinces seeking guidance on addressing liability issues of autonomous vehicles could look to the United Kingdom as an example, an insurance lawyer told Canadian Underwriter Friday. The UK has a bill in the reading stages that, if passed, would

News InsuranceTechnology

How Guidewire is changing its approach to the market

September 10, 2018 by Greg Meckbach

Guidewire Software Inc. is “not interested” in building a services organization and is touting its new analytics and data services group to insurance buyers. The new analytics and data services group – formed after the acquisition in 2017 of modelling

News InsuranceMarkets / CoveragesTechnology

Where Canada ranks worldwide in cyber breaches

September 7, 2018 by Jason Contant

The importance of obtaining cyber insurance has again hit home, following the release of a report that found by mid-2018, Canada was the country with the third most cyber incidents in the world and ninth most exposed records. Last month,

News AssociationsBrokersInsuranceTechnology

Will consumers soon be able to access policy documents electronically?

September 6, 2018 by Jason Contant

How close is the industry to consistently allowing consumers to access insurance documents electronically, such as by email? “It’s a bit of a hodge podge out there at the moment,” Colin Simpson, CEO of the Insurance Brokers Association of Ontario

News InsuranceTechnology

How to avoid the “broken arrow” approach to new technology

August 29, 2018 by David Gambrill

If you’re an insurance organization looking to adopt innovative new technology such as artificial intelligence, you’ll want to avoid the “broken arrow” approach to implementation. In some instances, organizations may put the cart before the horse, with IT departments developing

News ClaimsInsuranceTechnology

The trade-off to using artificial intelligence to speed up claims

August 29, 2018 by Greg Meckbach

Canadian insurers wanting to handle claims like Lemonade are going to have to accept some trade-offs, a Claims Summit speaker said Tuesday. New York City-based Lemonade Insurance Company uses artificial intelligence and says it can handle some claims in three

News InsuranceMarkets / CoveragesTechnology

Air Canada mobile app breach strikes up to 20,000 customers

August 29, 2018 The Canadian Press

MONTREAL – Air Canada says 20,000 customers may have had their personal information improperly accessed due to a breach in its mobile app, prompting a lock-down on all 1.7 million accounts until consumers change their passwords. The airline says it

News InsuranceProductsTechnology

Are consumers warming to telematics?

August 28, 2018 by Jason Contant

A new survey for belairdirect has found more than half (53%) of polled Canadians would use an app that tracks their driving habits if it meant having a more personalized auto insurance rating. The finding contrasts recent industry comments and

News InsuranceTechnology

Regulator reveals reason for electronic pink slips delay

August 28, 2018 by Jason Contant

Police concerns about drivers’ mobile phone privacy rights are a major stumbling block in the introduction of electronic proof of insurance in various parts of the country, provincial financial and insurance regulators have told Canadian Underwriter. Canadian Underwriter recently contacted a

News InsuranceTechnology

Artificial intelligence a ‘work in progress’ in marine insurance

August 27, 2018 by Greg Meckbach

Some insurers are considering how artificial intelligence could help underwrite marine risks. Although big data has been around for years, “what has changed with AI is just using bigger more disparate data sets which go across different domains – for

News InsuranceMarkets / CoveragesTechnology

Why management experience is so important for blockchain insurance

August 24, 2018 by Jason Contant

Given that “there are no 10-year-old blockchain companies” in an industry that relies heavily on historical data, how do insurers assess a submission for insurance related to the distributed ledger? Just like you would for any type of “traditional insurance”:

News InsuranceMarkets / CoveragesTechnology

Why you’ll have trouble finding D&O insurance for clients using blockchain

August 23, 2018 by Jason Contant

Brokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and