Canadian Underwriter

Topic Technology

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Digital brokers: Should you build your own tech, or buy someone else’s?

October 22, 2020 by David Gambrill

Okay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers

News BrokersOntarioOperationsTechnology

How COVID accelerated broker tech by 4-5 years

October 21, 2020 by David Gambrill

COVID-19 has been good for the broker channel, in the sense that it has accelerated digital growth at brokerages by at least four to five years, a digital broker told the Insurance Brokers Association of Ontario (IBAO) virtual convention Wednesday.

News ManagementTechnology

40-year industry vet discusses his take on tech: Does it help or hinder?

October 20, 2020 by Greg Meckbach

When Bob Tisdale started his insurance career in the late 1970s, his employer at the time was just starting to adopt computers. “A lot of people at the time predicted that that was going to be the end of everybody’s

News AdjustersClaimsClaims Canada ArchiveClaims ProfessionalsClaims TechnologyLoss ControlLoss TrendsOperationsTechnology

How a smart phone can drive efficiency in the claims process

October 19, 2020 by Greg Meckbach

Using a smart phone to take pictures of property damage as soon as it happens could speed up the claims process and reduce fraud risk, the head of a Canadian claims technology vendor suggests. “The best way to drive efficiency

News BrokersClaims Canada ArchiveCommercialCyberEmerging RisksInsurersLoss ControlLoss TrendsRisk ManagersTechnologyTrusted Advisor

How COVID-19 has changed cyber underwriting

October 19, 2020 by Greg Meckbach

With loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or

News ClaimsClaims Canada ArchiveClaims ProfessionalsCyberEmerging RisksLegalLoss ControlLoss TrendsPropertyQuebecRisk ManagersTechnology

Why this client can only recover $50,000 on a $2.7-million commercial crime claim

October 16, 2020 by Greg Meckbach

An electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance

News InsurersTechnology

The next revolution in telematics: An insurer partners with an automaker to collect data

October 7, 2020 by Adam Malik

An American auto insurer has partnered directly with a car manufacturer to get access to driver data and provide insurance coverage based on that information — and one Canadian expert thinks it’s a viable idea that could gain traction here.

News BrokersManitobaOperationsTechnology

How you can cut down time spent searching underwriting manuals

October 5, 2020 by Greg Meckbach

Some brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting

News AlbertaInsurersLegalPersonal AutoTechnology

Why insurers incurred penalties for over-charging Alberta auto clients

October 2, 2020 by Greg Meckbach

Programming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to

News AdjustersClaimsClaims Canada ArchiveClaims TechnologyMergers and AqcuisitionsTechnology

Fight continues over proposal to acquire property data provider CoreLogic

October 1, 2020 by Greg Meckbach

A proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing

News OperationsTechnology

What the insurance industry wants from its tech vendors

September 30, 2020 by Jason Contant

The insurance industry wants technology vendor incumbents to become more innovative, but also limit the number of products to maintain and buy, according to the CEO of Applied Systems. “We did a lot of end-market survey work over the last

News AlbertaB.C.BrokersTechnologyTrusted Advisor

What this insurtech says are two ways of being better than the average broker

September 28, 2020 by Greg Meckbach

If you want to be better than the average brokerage, try explaining coverages through the use of examples and try not making consumers wait for days for answers, the co-founder of an insurtech advises. “Insurance can be somewhat stuffy and