Topic Technology
Slice launches “first on-demand insurance platform” for homeshare hosts in 13 states
June 1, 2017 by Canadian UnderwriterSlice Labs Inc., a technology company offering what it calls “the first on-demand insurance platform in the United States,” announced on Wednesday the launch of their homeshare insurance product in 13 states. Homeshare hosts in 13 states – California, Colorado,…
Brokers present ideas for innovative technologies at Aviva Canada’s BrokerTech Launchpad
June 1, 2017 by Canadian UnderwriterAviva Canada announced on Wednesday that it has received its first presentation of ideas from its BrokerTech LaunchPad pilot program, “a program that gives insurance brokers the opportunity to present their ideas for technologies to disrupt, transform and lead the…
Innovation-based disruption in personal lines insurance will drive new business models: Conning
May 31, 2017 by Canadian UnderwriterTechnology-focused investments are pushing business model changes across industries, and insurance is not immune to these pressures, a new study by global investment management firm Conning suggested. Released on Wednesday, the study examines the changes that are underway in personal…
Willis Towers Watson and Roost to establish home telematics consortium of 5-10 U.S. carriers
May 31, 2017 by Canadian UnderwriterWillis Towers Watson (WTW) announced on Wednesday that it has entered into an agreement with Roost, an innovator in smart home technology, to establish a “home telematics consortium” of five to 10 insurance carriers. WTW, the global advisory, broking and…
Technological change and cyber risk overtake regulation as top risks for global insurers: study
May 31, 2017 by Canadian UnderwriterThe global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close observers of the sector, released on Tuesday. The Centre for the Study of…
TSB urges Transport Canada to update cockpit voice recorder regulations
May 31, 2017 by Canadian UnderwriterTransport Canada needs to update its regulations on flight recorders, Transportation Safety Board of Canada suggested Monday. The federal government’s response to a recommendation from a 1993 accident that killed seven is “still unsatisfactory,” TSB argued Monday in a tweet.…
Lack of oversight regarding security of third-party IoT implementation: survey
May 31, 2017 by Canadian UnderwriterA gap in understanding how best to mitigate and communicate risks around the Internet of Things (IoT) persists despite organizations reporting high concern about related security, notes a new report from Ponemon Institute and Shared Assessments Program. Released Wednesday, The…
New Insurance Institute webinar to explore the sharing economy as an “opportunity and a threat” for Canadian p&c industry
May 30, 2017 by Canadian UnderwriterThe Insurance Institute of Canada (IIC) will host a webinar examining the sharing economy as both an opportunity and a threat to the Canadian p&c industry. The webinar is scheduled for June 14 at 1 p.m. EDT. It offers “future-forward…
Aviva plc reports 9.5% increase in rejected claims due to fraud
May 30, 2017 by Canadian UnderwriterUnited Kingdom insurer Aviva plc has reported a 9.5% increase in the number of fraudulent claims it declined in 2016, “fuelled by increases in fraud detection across motor bodily injury, household and liability claims.” Aviva said in a press release…
Criminal data breaches forecast to cost global business $8 trillion in next five years: Juniper
May 30, 2017 by Canadian UnderwriterHigher levels of Internet connectivity and inadequate enterprise-wide security are expected to pave the way for criminal data breaches costing businesses around the world about $8 trillion over the next five years, suggests U.K.-based Juniper Research. Research released Tuesday indicates…
Data analysis may start to focus more on modelling the process than the data itself, CIFF speakers suggest
May 29, 2017 by Jason Contant, Online EditorData analysis may start to focus more on modelling the process than the data itself, speakers suggested last week at the Canadian Insurance Financial Forum (CIFF). Although modelling began decades ago to model the process of financial catastrophes, there is…
Chipotle Mexican Grill confirms malware involving point-of-sale devices at certain restaurants
May 29, 2017 by Canadian UnderwriterChipotle Mexican Grill, Inc. has confirmed “the operation of malware designed to access payment card data from cards used on point-of-sale (POS) devices at certain Chipotle and Pizzeria Locale restaurants between March 24, 2017 and April 18, 2017.” Chipotle said…