Canadian Underwriter

Topic Technology

Cloud computing technology
News ClaimsClaims Canada ArchiveInsurersOperationsTechnology

How cloud services can speed up the P&C industry

April 12, 2024 by Jason Contant

Cloud-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

Satellite taking images used for risk assessments
News BrokersClaimsCommercialLoss ControlLoss TrendsRisk ManagersTechnology

What’s the next frontier for assessing property risk?

April 10, 2024 by John Siegman, co-founder of HazardHub

Next-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

Grain silos on a soybean farm
News BrokersCommercialMGAsTechnology

How brokers can harvest insurance capacity for farmers

April 4, 2024 by Alyssa Di Sabatino

One 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

Lithium ion batteries in laptops, cell phones, e-scooters and other devices create fire risk at disposal sites
News ClaimsCommercialEmerging RisksInsurersLiabilityLoss ControlPropertyRisk ManagersTechnology

How lithium-ion batteries threaten recycling facilities

April 3, 2024 by Philip Porado

Introduction 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

Managing e-documents
News BrokersCommercialOperationsTechnology

Why brokers are looking at personalized communication automation

April 2, 2024 by Jason Contant

Canadian 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

Selecting and electronic document (eDoc)
News BrokersOperationsTechnology

Tackling brokers’ Number 1 workflow pain point — eDocs

March 27, 2024 by David Gambrill

Imagine 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

Cybersecurity concept
News ClaimsClaims Canada ArchiveCommercialCyberTechnology

Giant Tiger customer data compromised in incident with third-party vendor

March 26, 2024 by Tara Deschamps – The Canadian Press

Giant 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

Businessman holding and giving insurance and assurance icon including family health real estate car and financial for risk management concept.
News AlbertaB.C.BrokersInsurersOntarioPersonal AutoPersonal HomeTechnology

Onlia acquired by PE firm focused on Canadian P&C distribution

March 26, 2024 by David Gambrill

Southampton Financial Inc., a private equity firm focused on the Canadian property and casualty insurance distribution space, has agreed to acquire Onlia Insurance from Achmea and Fairfax Financial Holdings Ltd. Headquartered in Toronto, Onlia is a digital insurance agency that

Business process and streamlining strategy text on wooden blocks. Business culture and Operational excellence concept.
News HRInsurersManagementQuebecTechnology

Regulator streamlines organizational structure

March 22, 2024 by Jason Contant

Quebec’s financial services regulator has announced strategic adjustments aimed at streamlining its organizational structure. “The main adjustments put forward will allow the organization to focus on its clientele and the quality of services provided to them,” the Autorité des marchés

Car insurance and warranty product
News InsurersOntarioPersonal AutoTechnology

Partnership combines auto insurance, used car warranty products

March 20, 2024 by Jason Contant

Online insurance comparison platform HelloSafe has announced a strategic partnership with GuardTree Inc., which calls itself Canada’s first monthly subscription-based used car warranty product. The partnership allows Ontario drivers to compare a wide range of auto insurance guarantee options through

A glowing quantum computer
News ClaimsLoss ControlLoss TrendsOperationsRisk ManagersTechnology

How quantum computing could impact risk management and claims

March 18, 2024 by Jason Contant

Quantum computing’s impact on P&C insurance operations will be wide-ranging, say several sources who spoke with CU. Almost every sector and department of the industry could be affected, including actuarial, risk management and underwriting teams, data analytics, IT, claims processing,

Police badge and handcuffs on a computer to represent regulators cracking down on computer crime
News CommercialEmerging RisksInsurersLegalTechnology

How quantum computing creates new risks, regulatory issues for insurers

March 14, 2024 by Jason Contant

Quantum computing stands at the forefront of data processing technology and, although it remains an open question how it will be regulated, some form of guidelines will be needed. Quantum computers go well beyond a standard binary form of processing