Canadian Underwriter

Topic Technology

Internet security concept
News ClaimsCyberTechnology

Parts of National Research Council website down due to unspecified ‘cyber incident’

March 22, 2022 by The Canadian Press

OTTAWA – The National Research Council took down parts of its website after it was hit with a “cyber incident.” A brief statement on the council’s main webpage Monday did not specify what kind of incident occurred or which applications

Digital documents being sorted.
News CommercialCommercial AutoInsurersTechnology

Commercial data standards get green light

March 18, 2022 by Canadian Underwriter Staff

Commercial insurance brokers are a step closer to having standards for policy inquiries on certain auto and general liability coverage. The Centre for Study of Insurance Operations (CSIO) said its Innovation and Emerging Technology (INNOTECH) API working groups have published

Man types on his laptop. An image of a masked man holding a padlock and the text "pay" shows up on his screen.
News CyberEmerging RisksInsurersLegalTechnology

What happens when you negotiate with a hacker?

March 18, 2022 by Alyssa DiSabatino

Clients have a tough choice to make when they’re hit with a ransomware attack — to pay or not to pay?   “If you decided not to pay the ransom for whatever reason, and that hacker ultimately discloses that information,

Blurred background of a businesswoman. She is reaching out with 5 hand-drawn stars to create a rating.
News OperationsTechnology

How to improve your customer’s buying experience

March 17, 2022 by Alyssa DiSabatino

Digitization is not slowing down, and so brokers and carriers need to improve customer service and a user’s online customer experience (CX), suggests a recent white paper by Reuters. According to the authors of Next Wave Insurance: Daring to be Different, the

A hacker spying your data file
News BrokersClaimsCyberInsurersLoss ControlLoss TrendsRisk ManagersTechnology

“Antivirus on steroids:” One way to protect your clients from ransomware

March 16, 2022 by David Gambrill

To help clients detect their cyber exposures, insurers are recommending ‘powerful’ preventative measures such as endpoint detection responses (EDR) — dubbed ‘antivirus on steroids.’ Used in combination with multi-factor authentication, EDR is deemed superior to traditional anti-virus software because the

A professional is seated in front of a laptop that is displaying a business process flowchart.
News Technology

Where your digital investments should go

March 7, 2022 by Alyssa DiSabatino

Insurance companies seeking to make good digital investments need to reevaluate their legacy technology systems, according to survey results from digital intelligence company ABBYY.  As the workplace becomes increasingly digitized, ABBYY’s 2021 Digital Transformation Survey Results finds that the biggest barriers

Mergers and acquisition concept
News BrokersHRManagementMergers and AqcuisitionsOperationsTechnology

What BrokerLink looks for in an M&A deal

March 7, 2022 by Jason Contant

BrokerLink looks at best practices when making an acquisition, recognizing that each deal is unique and doesn’t follow a boiler template, says the brokerage’s president, Joe D’Annunzio. “One of the things for us is we look at best practices,” D’Annunzio

A woman's face is lit up by the blue light of the screen she is holding in her hand. It is scanning her face.
News Technology

AI’s new risk: How brokers and insurers can protect clients

February 28, 2022 by Alyssa DiSabatino

Data automation has created an emerging risk: AI can develop unintended biases within its own data that can yield unfair results and potentially harm a client’s business. Although it’s not the only risk associated with AI, the potential for a

Concept of repelling a cyberattack
News ClaimsCommercialCyberTechnology

Winners and losers in preventing cyberattacks

February 28, 2022 by Jason Contant

Canada’s financial services industry pushed back against cybercriminals last year, cutting in half the percentage of cyberattacks on the sector. The financial services industry (including insurance) has long been a top target for cybercriminals chasing high-reward payday. But that is

A metal robot hand is reaching out and pressing a key on a laptop.
News Technology

How to cover a client’s artificial intelligence product

February 25, 2022 by Alyssa DiSabatino

In an ever-evolving digital world, artificial intelligence — a technology that mimics human cognition by learning from experience, identifying patterns and deriving insights — is becoming widely adopted by companies.   In fact, AI adoption has skyrocketed in the 18

Online shopping concept
News BrokersTechnology

Will brokers have a one-stop shop for MGAs?

February 23, 2022 by Jason Contant

The Canadian Association of Managing General Agents (CAMGA) is looking at using a technology platform that will make it easier for brokers to deal with MGAs. “CAMGA’s currently in the exploratory process of building a platform that will make it

Young woman in international airport looking at the flight information board, checking her flight
News InsurersTechnology

Zurich pairs with Blink for flight-disruption cover

February 16, 2022 by Canadian Underwriter Staff

With airplane trips forecast to increase post COVID-19, travellers will want to know if they’ll get where they’re going – and if they have coverage options when flights get cancelled. That’s the logic behind a new partnership between Zurich Canada