Brokers looking for new large cyber accounts might want to knock on doors of companies who look after other people’s money. More than half (55%) of Canadian asset managers surveyed said they intend to purchase insurance to protect themselves against…
More Canadian brokerages are moving towards a fully digital experience as consumer expectations are driving demand for faster, more efficient service, a broker management system (BMS) provider said Monday. “More brokers are moving to a completely connected experience from internal…
Buyers are increasingly targeting “differentiated” technology in merger and acquisition (M&A) deals, knowing they are going to be judged on the potential of what they can achieve with the technology they are purchasing. The value of an acquisition will increasingly…
Mergers and acquisitions come with risks for buyers, and one law firm uses machine learning to help clients manage at least some of those risks. One risk to a buyer is when the target company has liabilities – such as…
Fully autonomous vehicles that communicate with other vehicles and city infrastructure will create a brand new exposure for insurers and municipalities. Traditionally, when there is a pedestrian bodily injury claim from a vehicle accident, there is two parties – the…
Law makers and regulators are stopping insurers from using technology that could actually help customers, speakers from two of Canada’s top three property and casualty carriers warn. Insurers have plenty of data that they could potentially use to rate auto,…
Electronic data can be a powerful tool and is not expensive to store, but it’s only useful if you have a strategy behind it, speakers said during this week’s Insurance Analytics Canada Summit. “If you don’t have a data strategy,…
Artificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked…
Machine learning – which some brokers use to make chatbots – can also help companies improve cyber risk by flagging abnormal activity. Machine learning is a type of artificial intelligence, which mimics human cognition and activities, such as identifying patterns.…
MONTREAL – A new report says artificial intelligence deployment has not yet been a “real success” for Canadian companies, in spite of the country’s reputation as an AI hotbed. The study from Forbes Insights ranks Canada last out of 10…
Blockchain for insurance has various oft-touted benefits – reduced costs and simpler and faster transactions, among them – but it can also be used to combat fraud, said David Verbeeten, a domain expert in insurance at software company ConsenSys. Verbeeten…
Data breaches are all over the news, but convincing some corporate clients to spend in the neighbourhood of $1,000 a year for insurance coverage can be an uphill battle. Some cyber insurance products cost around $100 a year, but those…