A new survey from Willis Towers Watson (WTW) has found that half of Canadian employers believe that work automation will result in job losses, a finding echoed recently by a Canadian property and casualty insurance executive. In November 2017, RSA…
Is smart automation a boon or bane?
While it remains to be seen whether or not the industry’s anticipated move to automate “paper pushing” roles over the next decade will spawn major job losses, the industry may have an easier time attracting youth to the more advanced…
Technological automation is going to significantly change the composition of Canada’s property and casualty insurance industry, reducing the workforce by up to 40% within the next five to 10 years, predicts RSA Canada president and CEO Martin Thompson. Speaking at…
MONTREAL – Canadian National Railway says it will spend $500 million over the next five years on technology to improve its safety, efficiency and competitive edge, partly in response to the potential threat posed by driverless trucks. CEO Luc Jobin…
Technology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new…
There is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,…
While some insurance carriers continue to favour traditional claims processes, the demand for faster cycle times, reduced expenses and improved customer satisfaction is driving increased automation and an eventual migration from virtual to “touchless claims,” according to a new report…
The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying…
Slower consumer spending on big-ticket insurable items, as well as an aging population, will weigh on the outlook for Canadian insurance firms, according the Conference Board of Canada’s first outlook for the insurance industry. Canadian Industrial Outlook: Insurance – Winter…
Nearly three-quarters of global insurers (74%) believe that their sector has failed to show leadership in digital innovation, according to a new survey by Willis Towers Watson (WTW) released on Thursday. The report, titled New horizons: How diverse growth strategies…
Nearly one in four chief executive officers surveyed by PriceWaterhouseCoopers “strongly agree” that how their firms manage people’s data will “differentiate” their companies. “CEOs are particularly anxious that breaches in data security and ethics, and IT outages and disruptions could…