Topic Technology
Worldwide revenue for security technology to surpass US$100 billion in 2020: International Data Corporation
October 13, 2016 by Canadian UnderwriterWorldwide revenues for security-related hardware, software and services will grow from US$73.7 billion in 2016 to US$101.6 billion in 2020, according to the International Data Corporation’s (IDC) first Worldwide Semiannual Security Spending Guide. The report, released on Wednesday, said that…
One-quarter of Canadian small and medium businesses with revenue over $10M victims of cyberattack: study
October 12, 2016 by Canadian UnderwriterOne in four Canadian small and medium-sized businesses (SMBs) with annual revenue over $10 million have been victims of a cyberattack compared to only one in 10 with annual revenue under $10 million, according to a new survey from Internet…
Autonomous vehicle tech company Nauto enters into strategic agreements with Allianz Ventures, BMW and Toyota
October 11, 2016 by Canadian UnderwriterAutonomous vehicle technology company Nauto announced on Friday that it has entered into strategic agreements with BMW i Ventures, the Toyota Research Institute and Allianz Ventures, part of global financial services provider and insurance company Allianz Group. These companies have…
Adoption of smart contracts to decrease risks and costs, increase efficiencies: Capgemini
October 11, 2016 by Angela StelmakowichLower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini…
One in five risk managers surveyed not sure whether their cyber insurance policy covers data in cloud servers: RIMS
October 11, 2016 by Canadian UnderwriterFour in five risk managers surveyed said their company has a stand-alone cyber insurance policy, though only three in four reported their policy covers network/business interruption, Risk and Insurance Management Society Inc. said in the 2016 RIMS Cyber Survey, released…
78% of global businesses believe digital start-ups pose threat to their organization: Dell Technologies study
October 7, 2016 by Canadian UnderwriterNearly four in five (78% of) global businesses believe that digital start-ups pose a threat to their organization, either now or in the future, and almost half (45%) surveyed fear that they may become obsolete in the next three to…
Timber tall buildings feasible, solid wood an alternative to concrete: AEIC speaker
October 7, 2016 by Angela StelmakowichAdvances in wood engineered products and fabrication have made the idea of constructing timber tall buildings feasible and a genuine alternative to concrete, Eric Karsh, principal of Equilibrium Consulting Inc., suggested Thursday during the 43rd Annual Engineering Insurance Conference in…
U.S. insurers failing to deliver on digital customer experience: study
October 6, 2016 by Canadian UnderwriterInsurers in the United States could only answer 28% of queries across digital channels and 14% of companies failed to respond successfully on either email, social media or chat, according to new research from multichannel customer engagement software provider Eptica.…
Use of comparison sites to buy auto, home insurance developing, but trailing in Canada and the U.S.: Finaccord
October 6, 2016 by Canadian UnderwriterThe use of comparison sites to buy auto and home insurance is developing rapidly, but continues to trail in Canada and the United States relative to the United Kingdom and continental Europe, according to new consumer research from Finaccord. On…
Commercial insurance for Airbnb hosts available in Iowa from insurtech startup Slice
October 5, 2016 by Canadian UnderwriterSlice Labs Inc. announced Wednesday the launch of a private beta in which commercial insurance is being offered to hosts in Iowa who rent their homes. “The first product applies to homeshare hosts renting their homes on various homeshare platforms,”…
Autonomous cars will reach sales of 24 million units in 2030 from 0.2 million in 2020: research report
October 5, 2016 by Canadian UnderwriterThe first autonomous cars will debut in 2020, with the total number of new registrations forecasted to grow at a compound annual growth rate (CAGR) of 62% from 0.2 million units in 2020 to reach 24 million units in 2030,…
Engineering insurers’ working group calls for ‘greater risk dialogue’ on cyber threats
October 4, 2016 by Canadian UnderwriterCyber insurance coverage “should not replace” information technology security measures, and cyber risk can have an effect across engineering projects, the International Association of Engineering Insurers (IMIA) warned Tuesday. “The perception that cyber events do not cause physical damage is…