Canadian Underwriter

Topic
Technology


News BrokersMarkets / CoveragesTechnology

The emerging risk that presents an opportunity for all commercial brokers

October 4, 2019 by Jason Contant

Brokers can set themselves apart by starting a conversation with clients around a relatively new type of coverage: intellectual property (IP) insurance, a specialist insurer told Canadian Underwriter recently. CFC Underwriting said it is seeing more interest in this type

News BrokersInsuranceTechnology

Managing insurtech temptation

September 30, 2019 by Adam Malik

It can be enticing to jump on board as soon as you hear about the latest and greatest doodad to help your business. But getting distracted by the promises of every insurtech option is something one broker tries to avoid.

News InsuranceLegislation / RegulationTechnology

One way to convince regulators to relax auto rate rules

September 27, 2019 by Greg Meckbach

Artificial intelligence may be able to help auto insurers convince regulators to relax certain prohibitions on rate restrictions, the founder of an A.I. vendor suggests. In Ontario, insurers are prohibited from using several factors – such as certain at-fault accidents,

News ClaimsLegislation / RegulationTechnology

What the latest distracted driving numbers from Desjardins mean

September 24, 2019 by Greg Meckbach

Despite increased penalties for distracted driving, poll results released Tuesday by Canada’s second-largest auto insurer indicate even more motorists are engaging in this risky behaviour. More than half (53%) of respondents to a survey admit to having driven distracted by

News ClaimsInsuranceTechnology

How IoT devices can cause a liability headache for insurers

September 23, 2019 by Jason Contant

Internet of Things (IoT) devices can create complications for insurers, potentially including a priority dispute or, worse, an unpaid claim, a specialist carrier told Canadian Underwriter recently. Charlie Murray, international technology team leader with CFC Underwriting, used the example of

News ClaimsInsuranceMarkets / CoveragesTechnology

How E&O needs to change for emerging tech companies

September 20, 2019 by Jason Contant

Does a one-size-fits-all basic tech errors and omissions (E&O) policy that covers things like breach of contract or negligence still suffice for an emerging tech company? “Most probably not,” said Charlie Murray, international technology team leader with specialist insurer CFC

News InsuranceLegislation / RegulationTechnology

Should insurers self-regulate this field of study?

September 18, 2019 by Jason Contant

Insurers should consider self-regulating machine learning practices before regulations are imposed on them, a speaker suggested last week at the Connected Insurance Canada conference in Toronto. Moderator Stephen Applebaum, principal at Insurance Solutions Group, asked panelists if regulators understand machine

News InsuranceTechnology

Focus on these three areas when developing AI best practices

September 17, 2019 by Jason Contant

Financial institutions looking to adopt and develop best practices on the responsible use of artificial intelligence (AI) should focus on three areas: explainability, bias and diversity, experts say. A new TD Bank Group survey of 1,200 Canadians found that a

News AssociationsBrokersInsuranceTechnology

D/X initiative breaks ground with real-time first notice of loss transaction

September 12, 2019 by Jason Contant

Broker-insurer connectivity took a step forward this week, when the Insurance Brokers Association of Canada (IBAC)’s data exchange working group announced it had completed a first notice of loss (FNOL) transaction in real-time. The working group developed the first FNOL

News InsuranceProfessional DevelopmentTechnology

Now that we’ve got Millennials working in the P&C industry, how do we keep them?

September 12, 2019 by Jason Contant

Despite research showing that Millennials now make up the largest generational cohort in Canada’s property and casualty insurance industry, the industry still has some work to do to keep Millennials engaged once they’ve made the jump into the profession, according

News ClaimsInsuranceTechnology

Ransomware: should your client pay the demand?

September 11, 2019 by Jason Contant

If your client suffers a ransomware attack, should they pay the ransom to get their systems up and running again? And if they do pay, does that guarantee the cyber criminals who locked down the systems in the first place

News LegalRiskTechnology

Scheer promises to create ‘Canada Cyber Safe’ certification for digital

September 9, 2019 Giuseppe Valiante - THE CANADIAN PRESS

MONTREAL – Conservative party Leader Andrew Scheer is trying to reassure Canadians that if elected, his government would better protect their personal information following recent high-profile security breaches at major corporations that compromised the data of millions of Canadians. A