Canadian Underwriter

Keyword
blockchain


News BrokersInsuranceTechnology

How blockchain will help brokers bypass traditional insurers

July 12, 2018 by David Gambrill

Vancouver-based Fineqia International Inc. has taken an equity allocation in Black Insurance, a Tallinn, Estonia-based digital insurance startup on the blockchain that has set its sights on creating a direct investor-to-broker relationship, bypassing the need for a traditional insurance company.

News InsuranceTechnology

“Don’t be on the sidelines,” speakers say of blockchain

May 14, 2018 by Greg Meckbach

Blockchain, the technology behind Bitcoin, does not have a foothold in insurance yet, but it will no doubt disrupt some industries, speakers said last week at a financial industry conference. Blockchain promises “massively new business models,” Andrew Maxwell, director of

News InsuranceMarkets / CoveragesTechnology

How blockchain will put pressure on broker commissions in 3-5 years

April 10, 2018 by David Gambrill

Blockchain is going to put pressure on broker commissions and fundamentally change the way the broker channel does business over the next three to five years, says a past Marsh Canada national executive and management committee member. Blockchain will reduce

Feature Technology

Who’s afraid of blockchain?

March 14, 2018 Clive Bird, Account Executive, Axis Insurance Group

As blockchain-related businesses flourish, they are finding a lukewarm reception in the insurance market. Regardless of the company’s coverage needs, most traditional insurers are reluctant to release capacity and often decline to offer any level of coverage. Let’s look at

News InsuranceMarkets / CoveragesTechnology

What you need first, before chatbots and blockchain

January 15, 2018 by David Gambrill

Canadian property and casualty insurers must address their IT data collection systems in order to profit from more IT glamorous solutions such as chatbots, blockchain, artificial intelligence and the Internet of Things (IoT), says Sven Roehl, who facilitates The Cookhouse

News ClaimsInsuranceMarkets / CoveragesTechnology

Does your claims app verify the car crash photos you’re getting?

December 8, 2017 David Gambrill, Editor-in-Chief

A car crashes into a hydro pole. The driver takes pictures of the damage on a mobile device and sends the photos to the insurer through an app to start a claim. How does the insurer know the photos have

News InsuranceMarkets / CoveragesTechnology

Bank of Canada releases discussion paper on merits, risks of digital currency

December 5, 2017 Ian Bickis - THE CANADIAN PRESS

CALGARY – The Bank of Canada is considering the merits and risks of digital currencies as interest in cryptocurrencies like Bitcoin reaches a fevered pitch. In a research paper released by the central bank Thursday, report authors Walter Engert and

News AnnouncementsClaimsInsuranceTechnology

Allianz trials blockchain prototype for the captive insurance market

November 7, 2017 by Canadian Underwriter

International insurance transactions can be significantly accelerated and simplified, suggests a trial by Allianz Global Corporate & Specialty (AGCS) involving the successful implementation of a blockchain prototype for the captive insurance market. “We are currently seeing many blockchain applications in

News InsuranceMarkets / CoveragesTechnology

Cybercriminals capitalizing on blockchain popularity to create fraud schemes: Kaspersky

November 6, 2017 by Canadian Underwriter

Cybercriminals are capitalizing on the popularity of blockchain technology by circulating cryptocurrency-themed fraud schemes, according to cybersecurity company Kaspersky Lab’s Spam and Phishing in Q3 2017 report. “While cryptocurrency holders search for new investment opportunities and bitcoin enthusiasts look to

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Cat bonds including Canadian coverage totalled $2.8 billion in first nine months of 2017: PCS

October 12, 2017 by Canadian Underwriter

Sponsors raised $2.8 billion through catastrophe bond transactions that included Canada, “the most robust year in catastrophe bond market history,” Property Claims Services (PCS) said in a new report. Bigger and More Mature: PCS Q3 2017 Catastrophe Bond Report was

News InsuranceMarkets / CoveragesTechnology

AEIC speaker predicts blockchain applications in insurance

October 6, 2017 Greg Meckbach, Associate Editor

Blockchain technology – which forms the basis for the Bitcoin cryptocurrency – could enable insurers to collaborate with each other when two share the same customer and enable coverages through “smart contracts,” a speaker suggested Thursday at the annual Insurance

News ClaimsInsuranceReinsuranceTechnology

Willis Re supports B3i blockchain insurance industry initiative

October 2, 2017 by Canadian Underwriter

Willis Re is supporting the B3i initiative – the global blockchain effort launched last fall – by becoming a member and taking part in its prototype market testing phase. The announcement follows the successful launch of a working market testing