Topic Technology
Sontiq announces agreement to acquire CyberScout
February 2, 2021 by Jason ContantHigh-tech security and identity protection company Sontiq announced Tuesday it had signed a definitive agreement to acquire CyberScout, a major provider of cyber products and services tailored to the insurance industry. “Through Sontiq’s comprehensive product portfolio, major insurance carriers, mutual…
Cyber’s hard market separating insurer wheat from chaff
January 29, 2021 by Adam MalikThe global COVID-19 pandemic has distinguished between cyber insurers who are serious about offering coverage, and those who were just hoping to ride the gravy train while times were profitable, according to one industry analyst. Cyberattacks have skyrocketed, in part…
P&C industry needs better data about distracted driving
January 28, 2021 by Adam MalikThere’s a fairly significant gap between what government agencies have to say about distracted driving and what data companies are able to capture, and that is playing a role in the ineffective portrayal and messaging around the seriousness of people…
Telematics: Who’s jumping into the pool and who’s watching from the deck
January 28, 2021 by Greg MeckbachAuto insurers are taking a variety of approaches to telematics: Some are observing from the sidelines, while others report growing interest from consumers. The Travelers Companies Inc. introduced IntelliDrive in Canada last week, as Michael Klein, president of personal insurance…
New Maritime research centre to fight cyber pirates
January 28, 2021 by Jean-Benoit Legault - THE CANADIAN PRESSMONTREAL – A new research centre created at Montreal’s Polytechnique university will aim to protect ships from pirates – and they’re not talking about Blackbeard or Captain Kidd. Canada’s Maritime Cyber Security Centre of Excellence will combine the expertise of…
How IBAO is leading brokers to go paperless
January 27, 2021 by Greg MeckbachThe cost and hassle of printing and mailing large insurance policies is one of the drivers towards digitization, suggests the board member of a broker association. Consumers do not want to sift through 75 pages of insurance documents, said Greg…
Your clients are more willing to share personal data for a better insurance deal
January 26, 2021 by David GambrillConsumers are increasingly willing to share their personal information with their insurers as long as it will help them prevent injury and loss, according to a recent consumer research conducted by Accenture. The caveat here is that consumers don’t trust…
Smartphones are problems, but here’s how they can help reduce driving risk
January 22, 2021 by Adam MalikThis could be the year telematics driving data actually provides meaningful information — and change — to insurers and drivers alike, allowing risk to be underwritten more accurately, experts predict. To pull that off, smartphones will be a critical tool…
Open banking in Canada could help insurers with credit scoring
January 20, 2021 by Greg MeckbachOpen banking could give insurers better data for credit scoring, suggests an official with the organization that handles clearing and settlement for banks in Canada. “I think we will see more accurate underwriting and more accurate credit scoring,” Andrew McFarlane,…
‘COVID Trio’ tops the biggest biz risks for this year
January 19, 2021 by Adam MalikBusiness interruption, the COVID-19 pandemic, and cyber are the top three risks facing businesses this year – and all three are connected to each other, says a new report. Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer for 2021 found…
What’s missing from driverless vehicle rollout plan
January 19, 2021 by Greg MeckbachDriverless vehicles need to have some way of communicating with police, fire and ambulance responders, an auto manufacturers’ group said in a recent report. First responders have ways of handling situations they encounter in traffic but there are no “common…
Where this direct sees advantages over the broker channel
January 18, 2021 by Adam MalikBetter engagement with customers and the ability to respond quickly to change are just two reasons why the leader of one of Canada’s biggest direct insurance companies sees an advantage for companies like his over competitors that sell through the…