Topic Technology
The next revolution in telematics: An insurer partners with an automaker to collect data
October 7, 2020 by Adam MalikAn American auto insurer has partnered directly with a car manufacturer to get access to driver data and provide insurance coverage based on that information — and one Canadian expert thinks it’s a viable idea that could gain traction here.…
How you can cut down time spent searching underwriting manuals
October 5, 2020 by Greg MeckbachSome brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting…
Why insurers incurred penalties for over-charging Alberta auto clients
October 2, 2020 by Greg MeckbachProgramming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to…
Fight continues over proposal to acquire property data provider CoreLogic
October 1, 2020 by Greg MeckbachA proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing…
What the insurance industry wants from its tech vendors
September 30, 2020 by Jason ContantThe insurance industry wants technology vendor incumbents to become more innovative, but also limit the number of products to maintain and buy, according to the CEO of Applied Systems. “We did a lot of end-market survey work over the last…
What this insurtech says are two ways of being better than the average broker
September 28, 2020 by Greg MeckbachIf you want to be better than the average brokerage, try explaining coverages through the use of examples and try not making consumers wait for days for answers, the co-founder of an insurtech advises. “Insurance can be somewhat stuffy and…
The pandemic-induced change Intact says has ‘proven to work’
September 28, 2020 by Greg MeckbachInsurers who sent most of their employees home to work have demonstrated remote access can indeed work — and even offer co-workers an opportunity to get to know each other’s families better — but it may be challenging over the…
Locked-up computer systems only part of ‘terrifying’ ransomware scourge
September 28, 2020 by Colin Perkel - THE CANADIAN PRESSTORONTO – A shadowy group of cyber criminals that attacked a prominent nursing organization and Canadian Tire store has successfully targeted other companies with clients in governments, health care, insurance and other sectors. Posts on their NetWalker “blog” indicate the…
Feds offer $50 million fund to film, TV productions struggling to get insurance
September 25, 2020 by Victoria Ahearn and Tara Deschamps – THE CANADIAN PRESSThe federal government has announced a temporary new fund to help struggling Canadian film and television productions held up by a lack of COVID-19 insurance. Heritage Minister Steven Guilbeault says the $50-million fund is a short-term measure that will be…
The insurance implications of virtual healthcare in the COVID era
September 24, 2020 by Jason ContantAs more and more Canadians take advantage of virtual healthcare options during the COVID-19 pandemic, brokers and insurers need to make sure their clients have adequate insurance protection for this emerging risk. The move to medical consultations by video or…
Some CRA online services remain unavailable a month after cyberattacks
September 24, 2020 by Jacob Serebrin - THE CANADIAN PRESSMore than a month after the Canada Revenue Agency took its website offline in the wake of a major cyberattack, the federal tax collection agency won’t say when it expects its online services to fully return to normal. A number…
How the pandemic will change insurers’ medical assessments
September 23, 2020 by Greg MeckbachThe COVID-19 pandemic has prompted some insurers’ medical examiners to consider virtual exams instead of in-person exams when the examiner needs to speak with the claimant. “We work with a number of firms that provide independent medical assessments and evaluations…