Topic Technology
P&C insurance training enters world of virtual reality
April 25, 2024 by David GambrillCould virtual reality mentors help train recruits in the property and casualty insurance industry? It may sound futuristic, but early iterations of virtual reality and AI-based learning are already being used to help onboard new hires in the industry, panellists…
How clients’ auto data is being breached by thieves, hackers
April 24, 2024 by Alyssa DiSabatinoYour clients’ cars store a lot of their personal data — from biometrics to driving habits, phone contacts, and more — and that can expose them to cyber-attacks. Modern cars use sensors and connected technology to make driving easier, safer…
Are underwriters pricing for new tech in homes?
April 22, 2024 by David GambrillGlobally, the property and casualty insurance industry may be underestimating the vulnerability of property that uses technology to adapt to climate change, a speaker told attendees at the 38th Swiss Re Outlook breakfast held in Toronto last Tuesday. Also, property…
3 strategies for improving your cybersecurity posture
April 19, 2024 by Jason ContantGetting the basics right can help an organization improve its cybersecurity posture, a former intelligence officer at the Canadian Security Intelligence Service (CSIS) said during an industry event Thursday. Three basic strategies — mitigate, separate and positive control — can…
How auto theft is evolving
April 17, 2024 by Jason ContantFraudsters are adapting their methods in an attempt to fly under the claims radar, and even using artificial intelligence to create false documentation and platforms for claims handling, speakers tell the Insurance Institute’s 2024 CIP Society Symposium. Auto theft has…
How cloud services can speed up the P&C industry
April 12, 2024 by Jason ContantCloud-based services can serve as a much-needed speed accelerator to the Canadian P&C insurance industry, eliminating friction and digitizing the customer experience, speakers said Thursday at the 2024 CIP Society Symposium in downtown Toronto. “I personally think the biggest threat…
What’s the next frontier for assessing property risk?
April 10, 2024 by John Siegman, co-founder of HazardHubNext-generation data, analytics and risk models are giving property risk assessment a much-needed facelift. The increased frequency and intensity of natural disasters, combined with population growth in NatCat-prone regions, is escalating property and casualty (P&C) insurers’ claims and losses. A…
How brokers can harvest insurance capacity for farmers
April 4, 2024 by Alyssa Di SabatinoOne key element of creating a farm-specific MGA was the need to introduce proprietary technologies. Brokers of late have expressed concerns about the proliferation of new portals, which many see as a burden. “The first thing is acknowledging it is…
How lithium-ion batteries threaten recycling facilities
April 3, 2024 by Philip PoradoIntroduction of lithium-ion batteries has introduced new hazards into the everyday lives of Canadians due to their ability to catch fire spontaneously – a phenomenon known as ‘thermal runaway.’ What began as concerns about fires started by cell phone and…
Why brokers are looking at personalized communication automation
April 2, 2024 by Jason ContantCanadian property and casualty insurance brokerages are gravitating towards personalized communication automation (PCA), an executive at brokerage automation company Pathway tells Canadian Underwriter. Nine years ago, only about 3% of insurance brokerages had adopted PCA into their operations, says Alek…
Tackling brokers’ Number 1 workflow pain point — eDocs
March 27, 2024 by David GambrillImagine a brokerage having to hire someone just to open electronic documents (eDocs) from insurance companies to find out what they’re about. And yet, that’s exactly what happens when insurance companies send eDocs to brokerages with catch-all titles such as…
Giant Tiger customer data compromised in incident with third-party vendor
March 26, 2024 by Tara Deschamps – The Canadian PressGiant Tiger Stores Ltd. says contact information for some of its customers was compromised in an “incident” linked to a third-party vendor it uses. Alison Scarlett, a spokesperson for the Ottawa-based discount retailer, would not name the vendor on Monday…