Canadian Underwriter

Topic Technology

News AlbertaBrokersTechnology

Three things brokers and tech giants have in common

May 31, 2021 by Greg Meckbach

Just as Amazon does not make the products that it sells, brokerages don’t write coverage. But what you do have in common with Amazon is you provide consumer choice among the products you distribute, an Alberta insurtech CEO suggests. “When

News ClaimsCyberTechnology

Canada Post says 950,000 customers potentially exposed to supplier data breach

May 28, 2021 by The Canadian Press

OTTAWA – Canada Post says more than 950,000 customers were potentially exposed in a data breach attack on one of its suppliers. The Crown agency says it was informed by Commport Communications earlier this month that the manifest data held

News BrokersInsurersPersonal AutoPersonal HomeTechnology

What consumers really want from their insurance providers

May 26, 2021 by Jason Contant

As insurers and brokers increase their efforts to go digital, consumers still say they want an omni-channel and personalized experience, according to Ipsos survey results of more than 13,000 Canadian adults. “The preference to buy directly from the [insurance] company

News BrokersClaimsInsurersOperationsTechnology

Digital experimentation: How to avoid the shiny object syndrome

May 20, 2021 by David Gambrill

While the insurance industry is hearing a lot of messages these days about the importance of experimenting with new digital technologies — i.e. witness the increased use of terms such as “agility,” “nimble,” “pivoting,” and “failing fast” — a business

News InsurersTechnology

Customer service trends: The COVID grace period is over

May 19, 2021 by David Gambrill

With the end of the pandemic now a distinct possibility, Canadians are expecting the property and casualty insurance industry to up its game in customer service, industry execs observed in a recent webinar. “The move to digital [in March 2020]

News ClaimsCommercialCyberInsurersTechnology

Manufacturers increasingly targets for ransomware attacks, study finds

May 19, 2021 by The Canadian Press

TORONTO – A new report says North American manufacturing companies are increasingly targets for cybercriminal gangs that use malicious software to shut down businesses if they don’t pay a ransom. Research from Toronto-based eSentire says that six known criminal gangs

News BrokersCommercialInsurersPersonal AutoPersonal HomeTechnologyTrusted Advisor

P&C industry must better engage those who are “kicking the tires” on a purchase: exec

May 18, 2021 by David Gambrill

Digital has made it easier for Canada’s property and casualty insurance industry to serve customers who wish to purchase a fairly straightforward insurance product, but more emphasis needs to be placed on converting customers who are kicking the tires on

News InsurersTechnology

How rising interest in electric vehicles affects auto insurers

May 18, 2021 by Jason Contant

The number of customers looking to insure an electric vehicle (EV) is rising, which is having a ripple effect on auto carriers due to the increased cost to insure these vehicles, according to a recent report from LowestRates.ca. Year-over-year, there

News InsurersOperationsTechnology

Risk-averse insurers need to embrace failure to find success: insurtech exec

May 14, 2021 by Adam Malik

Insurance companies, generally risk-averse, are not used to seeing failure — something they need to get used to when they work with insurtechs that are trying to create a better system for them, says one insurtech leader. Insurers come to

News ClaimsCommercialCyberTechnology

Cybersecurity experts say Canadian businesses can learn from U.S. pipeline attack

May 13, 2021 by David Paddon - THE CANADIAN PRESS

TORONTO – Canada’s two largest pipeline companies say they have taken a proactive approach to avoid the type of cyberattack that has disrupted gasoline supplies in the U.S. Southeast and contributed to higher retail gasoline prices across North America. Hackers

News BrokersManagementTechnology

Mitchell & Whale’s bold new plan to become a Top 20 brokerage by 2030

May 12, 2021 by Greg Meckbach

By aiming for a customer experience that consumers expect and receive from non-insurance companies, Mitchell and Whale is planning to become a Top 20 national broker by 2030. “We are not targeting an experience that we know exists inside of

News BrokersCommercialMGAsTechnologyTrusted Advisor

The ‘perfect way’ for insurers to put capital back into the marketplace

May 10, 2021 by Greg Meckbach

The hard market in commercial lines has caused some managing general agents to lose some products, yet more insurance is still being placed through MGAs, panelists told brokers listening to a recent webinar. “I think it’s a perfect way for