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Steven Maynard, Partner & National Analytics Leader, EY Canada
Feature

Game Changer

December 1, 2015 Steven Maynard, Partner & National Analytics Leader, EY Canada

Canada is ahead of some other countries in embracing data analytics, although many organizations have yet to figure out how best to derive value from related initiatives. While the focus on analytics is encouraging, expanding the focus to also include the human element will drive even more value.

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A.M. Best advises insurers to examine correlated cyber risk

November 30, 2015 by Canadian Underwriter

Insurance carriers writing cyber risk need to understand “aggregate exposures,” such as exposure of multiple clients to major service providers and “common vectors of attack,” A.M. Best Company Inc. suggested in a recent report. In a Best Special Report, the

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2015 underwriting results decline for top U.S. auto insurers: Fitch Ratings

November 30, 2015 by Canadian Underwriter

Underwriting profitability for private passenger automobile insurance has deteriorated in 2015 for many writers in the United States, according to credit rating and research firm Fitch Ratings. The weakening results through the first nine months of the year reverse a

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Brain protein found in blood tests ‘prognostic for poor clinical outcome’ in concussion patients: Study

November 25, 2015 by Canadian Underwriter

Blood tests for a brain protein could predict cognitive impairment in patients with concussions, researchers suggested in a study released this week. Mild traumatic brain injury (TBI), or a concussion, “frequently doesn’t even receive medical attention,” the Philadelphia-based Perelman School

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Non-life insurance premiums forecast to grow 0.8% in 2016 in Canada: Swiss Re

November 24, 2015 by Canadian Underwriter

The worldwide demand for non-life insurance should increase in 2016 and 2017, but pressure on reinsurance profits should “drive more” mergers and acquisitions in 2015 and 2016, Swiss Re Ltd. suggested in a report announced Tuesday. In Swiss Re’s Global

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Climate change could present more threat than anticipated to insurance industry: Standard & Poor’s

November 19, 2015 by Canadian Underwriter

Insurers’ capital positions could be affected by lower investment income and higher capital requirements, as well as by an anticipated increase in weather-related claims due to climate change, Standard and Poor’s Rating Services said in an analyst article earlier this

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Global insurance M&A highest in years due to low interest rates and low growth: Moody’s Investors Service

November 10, 2015 by Canadian Underwriter

Low interest rates and funding costs, a weak global economic environment and regulatory and other changes have contributed to the growth in mergers and acquisitions in the global insurance industry, Moody’s Investors Service said on Tuesday. The growth in M&A

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Satisfaction with U.S. auto insurance claims process among Millenials improving: J.D. Power study

October 27, 2015 by Canadian Underwriter

While satisfaction with the auto insurance claims process in the United States is lower among Millenial claimants than among their older counterparts, the former’s satisfaction is improving, according to the J.D. Power 2015 U.S. Auto Claims Satisfaction Study released on

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Kingsway Financial Services reports net income of US$3.1 million for first three quarters of 2015, compared to loss of US$13.7 million in same period in 2014

October 26, 2015 by Canadian Underwriter

Kingsway Financial Services Inc. has reported a net income of US$3.1 million for the nine months ending Sept. 30 compared a net loss of US$13.7 million in the same prior year period. Kingsway, a holding company functioning as a merchant

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P&C “run-off” companies the new “specialty insurers”: Conning

October 20, 2015 by Canadian Underwriter

The global property & casualty “run-off” market developed to meet insurers’ need to divest noncore operations and has become an important extension of the insurance markets in recent years, according to a new study by Conning Inc., an investment management

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Ontario consumers “likely overpaid” $702 million for auto insurance, concludes study

October 19, 2015 by Canadian Underwriter

Despite a six-point increase, from 2013 to 2014, in the Ontario auto accident benefits claims ratio, a new study commissioned by the Ontario Trial Lawyers Association still concludes consumers “likely overpaid” by $702 million for auto insurance in 2014. Last

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U.S. researchers team up to safeguard power utilities from cyberattacks

October 13, 2015 by Canadian Underwriter

Researchers from Florida International University (FIU) in Miami have teamed up with four other universities and a utility company in an attempt to help safeguard power utilities in the United States from cyberattacks. Researchers from FIU’s College of Engineering and