Canadian Underwriter

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Technology


News InsuranceTechnology

How Canadian insurers should price for their ‘silent cyber’ exposures

November 8, 2018 by David Gambrill

The possibility exists of a global, widescale, multi-country cyber security breach. To get a true sense of their overall exposure, Canadian property and casualty insurers should be reviewing all of the policies they sell – not just dedicated cyber policies,

News RiskTechnology

Why cyber criminals may be targetting this Canadian bank

November 8, 2018 Armina Ligaya - THE CANADIAN PRESS

TORONTO – The Canadian Imperial Bank of Commerce is one of the most commonly targeted brands used by cyberthieves in phishing attacks across North America, with a more than 600 per cent surge in fake email attempts in the third

News BrokersInsuranceTechnology

The ‘big area of inefficiency’ for brokers

November 8, 2018 by Greg Meckbach

The holy grail for brokers, of having their computers talk directly to carriers’ computers, is “going to happen,” an InsurTechTO speaker suggested Wednesday. “The big area of inefficiency is still duplicate entry,” Michael Loeters, senior vice president of commercial insurance

News Technology

Insurance without the carrier coming soon

November 7, 2018 by Greg Meckbach

A blockchain-based business insurance model that could see non-regulated investors as the capital providers is coming sooner that you think, although it may not necessarily arrive in Canada in the short term, predicts an executive who has led two major

News InsuranceTechnology

Successful test of real-time data exchange on first notice of loss

November 7, 2018 by David Gambrill

Commercial brokerages and carriers have confirmed in a test case scenario that they can successfully exchange claims data from a first notice of loss (FNOL) form electronically, beginning and ending in the broker management system (BMS). In the Toronto Insurance

News InsuranceRiskTechnology

Two-day hackathon seeks tech solutions to distracted driving, pedestrian safety

November 2, 2018 by Jason Contant

Developing technology-based solutions to tackle distracted driving, pedestrian safety and house-to-house communication are the goals of an upcoming hackathon hosted by Canada’s second largest insurer and a technology start-up accelerator. Aviva Canada and OneEleven will host the Safer Neighbourhoods Hackathon

News InsuranceProductsTechnology

New app centralizes and digitizes the entire insurance lifecycle

November 1, 2018 by Jason Contant

An artificial intelligence company based in Montreal has launched an application to centralize and digitize the entire insurance lifecycle. Koïos Intelligence, which develops AI tools designed specifically for the finance and insurance industries, unveiled Olivo at the Fintech Forum at

News RiskTechnology

Think your password has been stolen? Think again.

October 30, 2018 by Jason Contant

Brokers would be well-advised to tell their clients to keep a cool head if they are contacted by email from someone claiming to have stolen their password. The latest online scam by cybercriminals uses stolen passwords from data breaches years

News RiskTechnology

Man sues Tesla over crash during autopilot mode

October 30, 2018 Mike Schneider - THE ASSOCIATED PRESS

ORLANDO, Fla. – A Florida man says the autopilot feature of his Tesla vehicle failed to detect a disabled car on a highway, leading to a collision that left him with permanent injuries, according to a negligence lawsuit filed Tuesday.

News Technology

Why many early chatbots failed

October 29, 2018 by Jason Contant

Early adopters of chatbot technology, most of which are now closed or dismantled, often did not realize the extent to which you need to train the system, Accenture said last week. “There was this… false sense that the machines would

News InsuranceTechnology

Why the industry needs to trust in AI algorithms

October 26, 2018 by Jason Contant

Managers, executives and boards in the insurance industry need to trust in artificial intelligence algorithms, even if they don’t look like traditional models, an Accenture executive told Canadian Underwriter Thursday. Machine learning models can better predict events with a greater

News ClaimsInsuranceRiskTechnology

4 ways AI can improve your performance

October 25, 2018 by Jason Contant

Artificial intelligence can be used to better predict weather risk in insurance, such as which customers’ properties may be more affected by severe weather, an Accenture executive said Thursday. One of the four major benefits of AI is enhanced judgement,