Topic Technology
How CSIO’s forging consistent data standards interpretation
March 6, 2023 by David GambrillThe Centre for Study of Insurance Operations (CSIO)’s mandate has evolved to ensure consistent interpretation of the property & casualty (P&C) insurance industry’s data standards by insurance companies and technology vendors. “In developing the multi-year strategic plan, CSIO’s board of…
Autonomous truck insurance questions remain
March 3, 2023 by James Menzies, Editor, Today's TruckingA panel discussion at the Technology & Maintenance Council’s spring meeting revealed some things won’t change when it comes to insuring autonomously driven trucks. Others will. And there’s still a lot of unknowns. Some of the liability for crashes will…
How your commercial clients are faring with fraud prevention
March 2, 2023 by Jason ContantThree-quarters of small and medium-sized enterprises (SME) in Canada experienced fraud within the past year, even though nearly nine in 10 reported having a fraud prevention and response program in place, according to a new survey from KPMG in Canada.…
Indigo refuses to pay ransom, warns stolen employee data may be posted to dark web
March 2, 2023 by Brett Bundale - THE CANADIAN PRESSCanada’s biggest bookstore chain has warned employees that data stolen in a cyberattack may be posted on the so-called dark web after it refused to pay a ransom demand, Indigo Books & Music Inc. said Thursday. The retailer’s network was…
How to digitize your old-school brokerage
March 1, 2023 by Alyssa DiSabatinoDigitizing a traditional insurance brokerage doesn’t have to break the bank, as many might believe, but the tech you pick — and how you roll it out — will make a difference to your costs. “It all depends on how…
What brokers can anticipate from Gore Mutual in 2023
February 28, 2023 by David GambrillHaving completed the foundational pieces of its Next Horizon business strategy, Gore Mutual Insurance company expects to be able to operate at a combined ratio in the range of 95% to 97% going forward into 2023 and beyond, the company’s…
How to digitize traditional brokerages without breaking the bank
February 28, 2023 by Alyssa DiSabatinoMany brokerages adopted technology sooner than planned because of the pandemic. And now acceptance of remote work is pushing brokerages to accelerate — or in some cases, start implementing — digital strategies. It’s easy to make a case for digitizing…
How automation’s shifting on-site claims work to bigger losses
February 23, 2023 by Philip PoradoCOVID-19 accelerated development of process efficiencies for insurance adjusters. Pre-pandemic, data-gathering and communications systems began shifting many claims to desk teams, creating efficiencies for adjusters by reserving site visits for complex cases. “What COVID did was expedite some of that…
What insurtech activity in Canada looked like in 2022
February 22, 2023 by Alyssa DiSabatinoCanada saw a total of 14 insurtech deals in 2022—and 3 deals in Q4 alone, according to the latest Gallagher Re Global InsurTech Report for Q4 2022. Overall, Canada saw more than $125 million in funding volume for insurtech investments…
Why 2022 was a good year for cyber insurers
February 21, 2023 by Jason ContantControls and underwriting actions that cyber insurers took over the course of 2020 and 2021 started paying off last year, a cybersecurity expert told Canadian Underwriter recently. “I think the cyber insurance industry in general had a much better year…
When will self-driving tech consistently prevent crashes?
February 17, 2023 by Harrison Griffiths and Hannah Van StaverenOne aim of autonomous driving technology is to take the human element out of the driving ecosystem with an eye toward preventing collisions. But right now, autonomous driving technology can’t guarantee it will detect and react to road hazards earlier…
Tesla recalls ‘full self-driving’ system to fix flaws in behaviour
February 16, 2023 by Tom Krisher - THE ASSOCIATED PRESSDETROIT (AP) – Tesla is recalling nearly 363,000 vehicles with its “Full Self-Driving” system to fix problems with the way it behaves around intersections and following posted speed limits. The recall, part of a larger investigation by U.S. safety regulators…