Canadian Underwriter

Topic Technology

News MGAsTechnology

Innovation coming from the Lloyd’s market

November 2, 2021 by Jason Contant

The Lloyd’s market has seen some “remarkable technologies” emerging recently, Marc Lipman, president of Lloyd’s Canada, said during the virtual IBAO Convention late last month. “A couple of Canadian-based companies have travelled to London to work through the Lloyd’s lab

News ClaimsCyberNewfoundland & LabradorTechnology

Suspected cyberattack in N.L. hits ‘brain’ of province’s health care system

November 2, 2021 by The Canadian Press

ST. JOHN’S, N.L. – A suspected cyberattack on Newfoundland and Labrador’s health network has led to the cancellation of thousands of medical appointments across the province and forced some local health systems to revert to paper. The “brain” of the

News Business InterruptionClaimsCyberTechnology

Canada ranks third for ransomware attacks

November 1, 2021 by Philip Porado

Businesses in Canada, with 62 attacks, are the third most likely worldwide to have their data held hostage, said new research by NordLocker. Researchers, who analyzed 1,200 companies hit by ransomware gangs in 2020 and 2021, said the U.S. (732

News BrokersHROperationsTechnology

Online client reviews can help your brokerage

October 27, 2021 by Brooke Smith

Bad publicity is still publicity, provided you take it seriously and handle it correctly. “Reviews let us see how we’re doing and allow other potential customers to see how we’re doing in creating the best possible experience for our customers,”

News LegalLicensingPersonal AutoPersonal HomeTechnology

Why open banking could ‘terrify’ brokers

October 8, 2021 by Greg Meckbach

If open banking comes to Canada, this could make it easier for fintechs and banks to offer embedded insurance and it will be hard to stop firms from using open banking data for underwriting purposes, a technology executive predicts. Open

News CommercialCyberEmerging RisksTechnology

Here are your security blindspots in the new hybrid workplace

October 5, 2021 by Jason Contant

The hybrid workplace increases your client’s cyber risk exposure, as cybercriminals have spotted new opportunities with a distributed workforce and are determined to exploit soft spots associated with remote work, HP suggests. According to the HP Wolf Security Blurred Lines

News BrokersMergers and AqcuisitionsOperationsTechnology

Mass personalization can enhance customer experience: PwC Canada

October 5, 2021 by Canadian Underwriter Staff

Accelerated digitization continues to drive strong M&A activity in P&C, with brokerages that prioritize the customer in their digitization strategies more likely to succeed. “Understanding the customer and how to change the customer experience will be the key differentiator for

News ClaimsCommercialCyberTechnology

7 in 10 Canadian organizations facing ransomware attacks paid demands: survey

October 5, 2021 by Salmaan Farooqui - THE CANADIAN PRESS

Cybersecurity experts say a new poll that suggests nearly 70 per cent of Canadian organizations facing a ransomware attack last year paid the demands is evidence that such payments should be made illegal. Of the businesses surveyed, 17 per cent

News Business InterruptionCommercialCyberEmerging RisksTechnology

Will cyber insurance rates double in the next couple years?

October 4, 2021 by Jason Contant

Prices in the cyber re/insurance market could rise sharply between 2021 and 2023, in some cases doubling from current levels, according to a report from S&P Global Ratings. “Depending on the region and [terms and conditions], policyholders could expect rate

Businessman with stack of office files
News BrokersOperationsTechnology

Digitization is ‘much more than going paperless,’ panel says

September 30, 2021 by Canadian Underwriter Staff

Going digital doesn’t simply mean going paperless — it’s about the end-to-end customer experience, panellists participating in a Canadian Underwriter webinar advised. “When we talk about going paperless, it’s much broader and more robust than simply not mailing out paper

News Emerging RisksEnvironmentalTechnology

Regulator expects more frequent volatility in financial sector

September 30, 2021 by Ian Bickis - THE CANADIAN PRESS

TORONTO – The head of Canada’s banking regulator warned Wednesday of the potential for increased volatility in the global financial system as risks, especially around climate change and digital finances, are on the rise. “My new responsibility requires that I

News CommercialMergers and AqcuisitionsOperationsTechnology

Buy or build: What surveyed Canadian businesses prefer

September 29, 2021 by Jason Contant

Small- and medium-sized enterprises (SME) surveyed by KPMG Canada have identified organic growth as a top strategy, followed by digital technology investments.  Of the 505 respondents to KPMG’s Business Outlook Poll, nearly three-quarters (71%) identified organic growth as a top