Topic
Technology
Intact reports ‘world of difference’ with telematics
June 20, 2018 by Greg MeckbachHard numbers showing the impact of telematics remain elusive, but Canada’s largest property and casualty insurer says the technology does separate the good risks from the bad. Telematics is a vehicle diagnosis technology that collects data such as distance travelled,…
How a $3-million brokerage increased its premium volume by 2,133% in five years
June 20, 2018 by Jason ContantFear of technology is preventing many brokerages from reaching their strategic objectives, a digital broker said last week at Gore Mutual’s Fast Forward event in Toronto. And it’s a myth, he added, that only large companies can afford to use…
Why this broker takes exception to usage-based auto insurance app
June 19, 2018 by Greg MeckbachUsage-based insurance has raised the profile of insurers on consumers’ electronic devices, and this could be bad news for some brokers. Several auto insurers are using UBI to offer discounts based on data gather from telematics. That technology lets insurers…
Is the slow pace of regulatory change putting the industry at risk?
June 19, 2018 by Jason ContantThe insurance industry is at risk if regulators don’t recognize that consumer expectations are changing and allow consumers the choice of receiving their policy documents electronically, the president and chief executive officer of the Centre for Study of Insurance Operations…
Get ready for the ‘internet of cows’: Farmers use technology to shake up agriculture
June 19, 2018 Ross Marowits - THE CANADIAN PRESSMONTREAL – Get ready for the “internet of cows.” Generations of farmers have relied on knowledge and family expertise to grow food, but the sector is set for a surge of disruption at the hands of made-in-Canada artificial intelligence-powered systems.…
The Digital Future of Insurance: Is Risk Passé?
June 19, 2018 Insurance-Canada.caTORONTO, June 19, 2018 /insPRESS/ – Risk is not passé just yet, but it is changing dramatically, and as it evolves in nature, insurance participants themselves are at risk. Don’t move too slowly – or too quickly! – but not…
One way of predicting whether a computer will take your job
June 15, 2018 by Greg MeckbachDespite a general consensus that many insurance tasks traditionally performed by humans will soon be done by computers, software still lacks some key human attributes, speakers said Wednesday at an industry panel. “If you are good at following and memorizing…
A new tool for small businesses in the fight against cybercrime
June 14, 2018 by Jason ContantThe federal government has unveiled its National Cyber Security Strategy, with which it will establish a voluntary, recognizable certification intended to enable small- and medium-sized enterprises (SMEs) to demonstrate to both businesses and consumers that they meet a baseline set…
Are independent brokerages in Canada adopting digital technology?
June 13, 2018 by Jason ContantWhile independent brokerages in four countries (including Canada) are not fully embracing digital technology in 2018, Canadian brokerages are showing an increased adoption of cloud hosting, according to a new annual report from software vendor Applied Systems. Applied released Tuesday…
The untapped potential of telematics in auto claims
June 12, 2018 by Greg MeckbachTelematics, which records data on vehicle behaviour, is used now mainly for underwriting, but the technology can also provide a treasure trove of information for claims adjusters, one vendor suggests. Auto insurance claims adjusters could potentially use telematics to determine…
Google, Big 4 accounting firm dive into omnichannel insurance game
June 11, 2018 by Greg MeckbachGoogle and KPMG LLP are targeting insurers with clients who want to communicate in a variety of ways – whether by phone, email, text message or even snail mail. KPMG recently announced Intelligent Interactions, available now, which KPMG is offering…
How fast are standalone cyber premiums growing in Canada?
June 11, 2018 by Jason ContantStandalone cyber insurance premiums in Canada are expected to be worth about $68 million in 2020, an increase at a compound annual growth rate of 15.8% relative to the 2016 estimate, Finaccord said Monday. Alan Leach, director of the London,…