Topic
Technology
How A.I. can help brokers deal with their carriers
November 19, 2017 David Gambrill, Editor-in-ChiefBrokers are excited about the potential of artificial intelligence (A.I.) to help streamline interactions—not just between brokers and consumers, but also between brokerages and insurance companies. Chatbots are often cited as an A.I. tool to help brokerages automate and streamline…
Brokers answer call to discuss industry’s ‘administration problem’
November 16, 2017 by Canadian UnderwriterResponding to an insurer’s call for carriers and brokers to find tech solutions to help solve the industry’s “administration problem,” brokers have responded by welcoming such a dialogue, citing several initiatives already dedicated to the task. RSA Canada president and…
Fraudulent e-mail a ‘real big deal’ in cyber risk
November 16, 2017 Greg Meckbach, Associate EditorThere is plenty of competition in the cyber insurance market but placing a cyber product suitable for a client “can be a challenge” because different insurers offer different products, the author of a recent report suggested Thursday. International Risk Management…
Liability of self-driving automakers in the spotlight
November 15, 2017 Michael Liedtke - THE ASSOCIATED PRESSSAN FRANCISCO – California regulators are embracing a General Motors recommendation that would help makers of self-driving cars avoid paying for accidents and other trouble, raising concerns that the proposal will put an unfair burden on vehicle owners. If adopted,…
Toronto company confirms user information stolen from six hacked websites
November 15, 2017 The Canadian Press (CPSTF)Toronto-based VerticalScope Inc. says six of the community websites it administers were hacked last month in the latest of a recent series of data breaches affecting Canadian online user information. The company says in an emailed statement an “unauthorized party”…
The key to insurtechs’ agility
November 15, 2017 by Canadian UnderwriterWhy are Insurtechs and fintechs frequently hailed as more agile than insurance companies following a more established business model? Martin Thompson, CEO of RSA Canada, said it’s easy to be bullish on the agility of insurtechs if you take customers…
P&C job losses of 30-40% within 10 years: RSA Canada CEO
November 15, 2017 David Gambrill, Editor-in-ChiefTechnological automation is going to significantly change the composition of Canada’s property and casualty insurance industry, reducing the workforce by up to 40% within the next five to 10 years, predicts RSA Canada president and CEO Martin Thompson. Speaking at…
New policy designed to simplify cyber risk management
November 14, 2017 by Canadian UnderwriterBerkshire Hathaway Specialty Insurance (BHSI) has launched a cyber insurance product in Canada that combines cyber liability and breach response coverage with risk management resources for commercial enterprises and financial institutions. “Our new policy simplifies the complex endeavour of managing…
Insurer launches new Cyber Alert app
November 14, 2017 by Canadian UnderwriterChubb announced on Tuesday the launch of its Cyber Alert mobile app, designed to offer Canadian and U.S. commercial cyber customers “rapid incident response options and resources in the event of a cyber incident.” The Cyber Alert app provides policyholders…
Cyber influence on insurer ratings mostly gradual: Fitch
November 13, 2017 by Canadian UnderwriterThe influence of cyber risk on insurer ratings is likely to be gradual, Fitch Ratings has reported. Cyber insurance represents a relatively small percentage of insurers’ business and insurers are taking a cautious approach to growing coverage, given the uncertainty…
Linux botnets, number of countries facing DDoS attacks up in Q3: Kaspersky
November 13, 2017 by Canadian UnderwriterThe share of Linux botnets is continuing to grow, accounting for 70% of attacks in the third quarter of the year from 51% in Q2, according to cybersecurity company Kaspersky’s Q3 2017 DDoS Intelligence Report. Experts also continue to see…
Ride-hailing service Lyft expanding to Toronto market in first push outside U.S.
November 13, 2017 The Canadian PressTORONTO – Ride-hailing company Lyft is bringing its service to Canada. The company announced Monday that it is coming to Toronto in what will be its first expansion outside of the United States. “Our passports are packed and we’re crossing…