Topic Technology
Why one cyber expert believes cyber insurance is in a good place right now
February 16, 2023 by Jason ContantThe cyber insurance market has never been in a more stable and positive position going into 2023, largely because of the learning experiences over the last two to three years, one cyber expert told Canadian Underwriter in an interview Wednesday.…
How much time and effort brokers could save with API connectivity
February 14, 2023 by David GambrillAdopting an Application Programming Interface (API) solution for broker-carrier connectivity will significantly reduce errors and save brokers between 11% and 17% of effort during the quoting process, according to a white paper released Tuesday by Insurance Brokers Association of Canada…
How one company is tackling brokers’ pain point of repetitive data entry
February 13, 2023 by Jason ContantOne Canadian company is taking a unique approach to deal with repetitive data entry, a major pain point for brokers. Vancouver-based Quandri uses software bots to automate certain portions of a brokerage’s operations, such as the renewal review process. Quandri…
How telematics may help Alberta truckers’ rates
February 9, 2023 by Philip PoradoWith an eye toward improving driving habits, Facility Association (FA) announced the launch of a telematics program for truck drivers in Alberta, effective May 1, 2023. It said the program’s objective is to help drivers and operators correct poor driving…
Metaverse risks: 4 areas for commercial clients to explore
January 25, 2023 by Jason ContantPrivacy is one of the four major risks associated with the metaverse — the expanding virtual universe of network connections — an industry expert told Canadian Underwriter recently. When developing a metaverse strategy, your commercial clients should look at operational,…
Regulator looking into the ‘black box’ of auto rating models
January 24, 2023 by Jason ContantAuto insurance rating models are becoming so complex that Ontario’s regulator is looking not only at the inputs of these models, but now the outputs as well, attendees heard at an industry event last week. “There are concerns that these…
Automotive products manufacturer hit by cybersecurity incident at three factories
January 24, 2023 by The Canadian PressTORONTO – Exco Technologies Ltd. says three of its factories have been hit by what it is calling a cybersecurity incident. The company says it has taken steps to secure its systems and mitigate the impact to the company’s data…
Ransomware group apologizes, says ‘partner’ was behind SickKids attack
January 3, 2023 by Jordan Omstead - THE CANADIAN PRESSTORONTO – A global ransomware operator issued an apology and offered to unlock the data targeted in a ransomware attack on Toronto’s Hospital for Sick Children, a move cybersecurity experts say is rare, if not unprecedented, for the infamous group.…
2023 Executive Outlook | Silvy Wright, Northbridge Financial Corporation
December 29, 2022 by David GambrillSilvy Wright, president, CEO, Northbridge Financial Corporation The insurance industry faces several headwinds in 2023. Some, like climate change, have been on our radar for some time. Others, such as inflation, have emerged more recently. We will always face challenges;…
Sobeys parent company says cyberattack expected to cost $25M after insurance
December 19, 2022 by Brett Bundale - THE CANADIAN PRESSSobeys parent company Empire Co. Ltd. has shared new details on a cyberattack that shut down its pharmacy services and other in-store functions last month. The security breach in early November left customers unable to fill prescriptions for four days,…
The self-driving era is here, the question is what comes next
December 15, 2022 by Ian Bickis - THE CANADIAN PRESSTORONTO – The self-driving era is here, just not the one that was promised. Instead of sleek pods without steering wheels ready to chauffeur buyers off the lot, there are mostly driverless Chevy compacts, Chrysler minivans, and Ford box trucks…
Are your remote workers less engaged?
December 15, 2022 by Jason ContantExecutives’ fears that remote workers are becoming less engaged and spontaneous when working online than they are while in the office may be unfounded, new research has determined. One of executives’ biggest worries about remote work is the reduction in…