Canadian Underwriter

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Technology


News InsuranceTechnology

How this city is mitigating autonomous vehicle risk

March 5, 2019 Ramesh Santanam - THE ASSOCIATED PRESS

PITTSBURGH – Companies testing autonomous vehicles in Pittsburgh will have to immediately report crashes resulting in any injuries as part of new guidelines announced Monday intended to boost public confidence in the testing after a deadly accident in Arizona last

News AdjustersInsuranceTechnology

How to save insurers $1.3 billion a year on claims administration

March 4, 2019 by Greg Meckbach

Artificial intelligence will become a “big time saver” for claims adjusters and will eventually allow the industry to save billions a year in costs, one researcher says. For auto claims, insurers are already using AI to make recommendations on whether

News InsuranceTechnology

Why less is better for digital transformation

March 1, 2019 by Jason Contant

Companies looking to undergo a digital transformation should follow the expression “more is not always better” when it comes to selecting system integrators and vendors, a speaker said Wednesday at the Insurance-Canada.ca Technology Conference in Toronto. During the transformation process,

Feature Technology

The revolution is now

March 1, 2019 David Gambrill, Editor-in-Chief

After several attempts to create a utopian state of broker-carrier data exchange, could the D/X Initiative be the tech breakthrough that commercial brokers have been seeking for decades?

News Technology

The new, darker social engineering threat

February 28, 2019 by Jason Contant

Need another reason to convince your clients to take a look at cyber insurance? One good starting point is keeping them informed on the latest cyber threats. One such risk is a new, darker strain of social engineering called “sextortion”

News EmploymentInsuranceTechnology

This technology can help attract talent

February 28, 2019 by Greg Meckbach

Using technology like artificial intelligence can help insurers attract the right people and keep them engaged, suggests the head of a major Canadian insurer. “It’s a tough talent market right now across the leading insurance markets in the world. Canada

News Commercial LinesInsuranceTechnology

Why the insurance industry needs a “killer use case” for blockchain

February 28, 2019 by Jason Contant

The insurance industry needs a “killer use case” for blockchain that all stakeholders can agree on before moving forward with more widespread adoption, a speaker suggested Wednesday at the Insurance-Canada.ca Technology Conference. “I think we are still on that journey

News InsuranceTechnology

This AI tool is a ‘huge priority’ for some insurers

February 27, 2019 by Greg Meckbach

Chatbots are getting better at answering questions, and many Canadian insurers are taking a serious look at the technology, a fintech analyst said Tuesday. “Quite a few of the major insurers in North America are looking to chatbots as a

News Technology

These three work tasks make the most sense to automate

February 26, 2019 by Jason Contant

If you’re looking to automate at your brokerage or insurance company, scrutinize specific tasks, not entire jobs, recommends a blog from Harvard Business Review. There are three fundamental work characteristics that lend themselves to automation: Repetitive vs. variable work –

News InsuranceTechnology

How modernization of payment systems in Canada could increase cyber claims

February 26, 2019 by Jason Contant

While theft of funds remains a relatively minor source of Canadian cyber claims for one specialist insurer, it is expected to grow as further modernization of payment systems takes place in the country. CFC Underwriting released Friday its 2018 cyber

News InsuranceTechnology

How Zurich can use AI to reduce a broker’s E&O exposure

February 25, 2019 by Greg Meckbach

A Toronto-based artificial intelligence (AI) vendor is working with Zurich Canada to reduce errors and omissions risk in commercial insurance policies. Often commercial policies have dozens of pages with several endorsements, which someone needs to read for accuracy before the

News Commercial LinesInsuranceTechnology

What the commercial underwriter of the future might look like

February 22, 2019 by Jason Contant

Commercial underwriting in the future may expand to encourage more cross-functional and hybrid responsibilities, potentially with engineering, claims, finance or operations, according to a new report from McKinsey & Company’s insurance practice. “To attract younger talent, companies need to recognize