Canadian Underwriter

Keyword
artificial intelligence

News Insurance

How good are estimates of industry-wide insurance fraud?

September 20, 2019 by Greg Meckbach

Insurers really don’t know how much money fraud is costing them. “In Ontario, we have to rely on other jurisdictions to try and quantify it because we are so lousy at it,” said Gordon Rasbach, former vice president of property

News Insurance

The first step in determining whether AI could pay off

August 12, 2019 by Greg Meckbach

Thinking of investing in artificial intelligence so you can automate tasks that are wasting workers’ time? Many brokerages have processes that could be improved through machine learning, suggested Christopher Wynder, director of product marketing for capture and original equipment manufacturing

News Insurance

How this brokerage plans to use AI for renewal process

August 7, 2019 by Greg Meckbach

An online-only brokerage is working on an artificial intelligence tool that would alert staff if a client whose situation has changed could now get a better deal on their insurance. Magreth, Alta.-based surex.com Ltd. recently developed a prototype of an

News Insurance

One insurance role that could be wiped out by artificial intelligence

July 19, 2019 by Greg Meckbach

Artificial intelligence is going to have a big impact on adjusters, actuaries and insurance agents, but it won’t necessarily kill their jobs, an AI expert suggests. But lower-skilled jobs may be in jeopardy. “Jobs at call centres are going to

News InsuranceTechnology

The limits of artificial intelligence in insurance

April 11, 2019 by Greg Meckbach

Artificial intelligence has not reached the point where it is replacing humans in the insurance industry because many processes still require human intervention, speakers said at a recent insurance conference. Artificial intelligence is used in some cases for client engagement

News InsuranceTechnology

The impact of legacy systems on AI implementation

March 5, 2019 by Jason Contant

Legacy systems have long been the scourge of the industry and they are one of the things standing in the way of artificial intelligence (AI) implementation, a speaker suggested last week at the Insurance-Canada.ca Technology Conference in Toronto. “There’s a

News AdjustersInsuranceTechnology

How to save insurers $1.3 billion a year on claims administration

March 4, 2019 by Greg Meckbach

Artificial intelligence will become a “big time saver” for claims adjusters and will eventually allow the industry to save billions a year in costs, one researcher says. For auto claims, insurers are already using AI to make recommendations on whether

News EmploymentInsuranceTechnology

This technology can help attract talent

February 28, 2019 by Greg Meckbach

Using technology like artificial intelligence can help insurers attract the right people and keep them engaged, suggests the head of a major Canadian insurer. “It’s a tough talent market right now across the leading insurance markets in the world. Canada

News InsuranceTechnology

This AI tool is a ‘huge priority’ for some insurers

February 27, 2019 by Greg Meckbach

Chatbots are getting better at answering questions, and many Canadian insurers are taking a serious look at the technology, a fintech analyst said Tuesday. “Quite a few of the major insurers in North America are looking to chatbots as a

News InsuranceTechnology

How Zurich can use AI to reduce a broker’s E&O exposure

February 25, 2019 by Greg Meckbach

A Toronto-based artificial intelligence (AI) vendor is working with Zurich Canada to reduce errors and omissions risk in commercial insurance policies. Often commercial policies have dozens of pages with several endorsements, which someone needs to read for accuracy before the

News InsuranceTechnology

The hard part about making artificial intelligence work

December 11, 2018 by Greg Meckbach

Using artificial intelligence, brokers can gain valuable insights from data, but making decisions based on those insights might be easier said than done. “There is an issue that all companies struggle with. It’s one thing to gain insights out of

News Technology

The ‘biggest hurdle’ to making artificial intelligence useful

November 28, 2018 by Greg Meckbach

Figuring out what products your customers might buy next or what they are complaining about are two ways you could be using artificial intelligence now, the founder of a big data vendor suggests. “In the future you are going to