Topic Technology
Brokers should look for these three things in a cyber insurance policy
December 16, 2019 by Jason ContantCyber insurance policies still tend to be confusing for brokers, but there are three areas that they should focus on, recommends Nathan Rose, senior underwriter and business development specialist with Burns & Wilcox Canada. This includes: 1) policies that have…
Ignoring this could leave brokers on the outside looking in
December 16, 2019 by Adam MalikBrokerages that want to get ahead don’t need to look any further than one important tool: Data. And to ignore it means not only falling behind but falling off the map entirely, one expert warns. To not just provide a…
Why the auditor red-flagged a government agency’s cloud computing risk management practices
December 12, 2019 by Greg MeckbachHere is a textbook example of how your cyber clients should not be managing their risks, according to Alberta’ auditor general. The province’s auditor red-flagged the example of Travel Alberta Corporation, a provincial agency that moved most of its software…
Why you need to consider open banking
December 11, 2019 by Greg MeckbachAs open banking makes it easier for other players to access your clients’ financial data, now is the time for insurance professionals start thinking about how they can take advantage of this new model, an actuary advises. “A number of…
How Marsh sees the broker role evolving around cyber insurance
December 11, 2019 by Jason ContantBrokers are finding they have to educate themselves more on the legal and technical side of cyber rather than on the cyber insurance policy itself, a speaker said recently at Insurance Bureau of Canada’s Commercial Insurance Symposium. “What we’ve noticed…
Three reasons fintech is driving brokerage acquisitions
December 11, 2019 by Greg MeckbachDisruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed…
‘Bring it on,’ Intact CEO tells industry disruptors
December 10, 2019 by Greg MeckbachCanada’s largest property and casualty insurer plans to be ready for companies from outside the industry who could disrupt the brokerage side of personal lines insurance. “On the distribution side of things, I think one needs to expect that players…
Why brokers need to change cyber talking points for each client
December 6, 2019 by Jason ContantBrokers need to focus their cyber insurance selling efforts on more than just traditional privacy risks and tailor them to specific industries, a specialist insurer said Wednesday. “Cyber is about way more than just privacy and if you explain to…
Growth in data breaches shows need for government regulations
December 5, 2019 by Michael Parent, Professor of Management Information Systems, Simon Fraser University - THE CANADIAN PRESSThis article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Author: Michael Parent, Professor of Management Information Systems, Simon Fraser University…
Brokers tackle distracted driving with social media campaign
December 4, 2019 by Jason ContantInsurance Brokers Association of Canada (IBAC) and Canada Safety Council (CSC) have teamed up for a new social media-led campaign timed to coincide with Distracted Driving Week, which runs until Dec. 7. The campaign focuses on two key distracted driving…
Why solvency regulator is concerned about ‘black box’ underwriting
December 4, 2019 by Greg MeckbachConcerned about whether “black box” underwriting methods based on artificial intelligence are good for your clients? So is Canada’s federal insurance regulator. “We get a lot of questions around AI and what are we to do about it,” said Neville…
Applied Systems to acquire Indio Technologies
December 4, 2019 by Jason ContantApplied Systems announced Wednesday it has entered into a definitive agreement to acquire Indio Technologies, a software company that digitizes the insurance application and renewal process. The announcement comes less than two months after Applied acquired Policy Works, a major…