Canadian Underwriter

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Technology


News Claims CanadaTechnology

Don’t count on Canada-wide, high-resolution flood modelling anytime soon

October 10, 2019 by Greg Meckbach

Flood maps with a resolution of two metres would be ideal, but don’t expect anything like this Canada-wide anytime soon. The current standard for the spacing of a topographic grid for regional mapping and modelling is 30 metres, as the

News InsuranceMergers and AqcuisitionsTechnology

5 lessons for M&A newbies, courtesy of serial acquirers

October 10, 2019 by Jason Contant

What are some of the best practices in mergers and acquisitions (M&A)? David Hunt, senior director of mergers and acquisitions at Willis Towers Watson, said in a recent blog that newcomers can learn from the best serial acquirers. While not

News BrokersTechnology

Brokers react to public auto insurer’s online ambitions

October 9, 2019 by Greg Meckbach

Motorists in Manitoba should be able to get online insurance services – such as change of address – but brokers should have some involvement in these processes, an official with the province’s brokers’ association told Canadian Underwriter Wednesday. “We are

News BrokersInsuranceTechnology

Where Aviva Canada stands on broker connectivity

October 8, 2019 by Jason Contant

How long will it be before brokers’ and insurers’ systems are able to connect efficiently? “This is still a two- to three-year journey for the industry to have really-slick, direct connectivity,” predicts Jason Storah, CEO of Aviva Canada. Storah spoke

News ClaimsClaims CanadaInsuranceLegalTechnology

Why artificial intelligence should be able to detect auto fraud

October 7, 2019 by Greg Meckbach

Artificial intelligence can make it nearly impossible for fraudsters to make a false claim appear real, the founder of an A.I. vendor suggests. If an auto insurance claim is fraudulent, A.I. software could pick up on that as long as

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