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data analytics

Data analytics
News Commercial LinesInsuranceMarkets / CoveragesReinsuranceRiskTechnology

Why you need to know the limits of your underwriting models

February 13, 2024 by Jason Contant

Vendors of underwriting models need to be transparent about the models’ limitations so underwriters and actuaries can understand where these limits could come into play, a speaker said last week at the CatIQ Connect conference in Toronto. Every single data

Building a mixed gender management team
News EmploymentInsurance

Key components of a successful talent-acquisition strategy

September 15, 2022 by Jason Contant

Canadian P&C companies should use data analytics for their talent acquisition (TA) strategies just as they do in other parts of the business, a speaker told Wednesday’s Reuters Events’ Future of Insurance Canada 2022 conference. “The traditional recruitment model is…

News Insurance

Digital growth demands new broker skill and training

November 15, 2021 Jeff Buckstein

The ongoing digital revolution, accelerated by the COVID-19 pandemic, will continue to have a major impact on the way brokers provide services. Canadian Underwriter’s Trusted Advisor 2021 survey found 80% of business clients and 73% of personal clients said online

News BrokersInsuranceRisk

Brokers urged to help their commercial clients using these traditional, proven risk assessment tools

February 4, 2020 by David Gambrill

In addition to using modern data analytics, commercial brokers can use traditional, proven risk assessment tools to help business clients understand and cope with price increases in today’s hard market, says a veteran of three hard markets. Inspections have been

News Insurance

Why Ozzy Osbourne is a factor for actuaries to consider

December 10, 2018 by Greg Meckbach

Properly segmenting data within an “ocean” of information can make the difference between champ and chump, speakers suggested at KPMG’s recent insurance conference. “I think the biggest change that most people are grappling with is the amount of data that

News CatastrophesTechnology

Must-have for insurers to underwrite overland flood

September 26, 2018 by Greg Meckbach

Artificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked

Feature InsuranceTechnology

Data Converging

September 21, 2017 Jason Contant, Online Editor; and Greg Meckbach, Associate Editor

True, it is all about data these days. That said, determining how best to employ the ever-growing store of internal and external data is necessary to gain forward-looking insights. For Canada’s property and casualty insurance market, knowing what to do with data to meet customer needs and demands will likely prove the end-game.

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Insurance industry ‘struggling to be more agile:’ analytics summit speaker

July 7, 2017 Greg Meckbach, Associate Editor

Insurance providers need to use technology to improve their customers’ experience, but sometimes regulation gets in the way, speakers suggested at a recent conference. The insurance industry is “struggling to speed up the process of being more agile,” said Paul

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Brokers taking the initiative to embrace digital transformation: Insurance Analytics Canada speaker

July 4, 2017 Jason Contant, Online Editor

Many brokers are taking the bull by the horns and embracing digital transformation, with or without the help of insurers, a speaker suggested last week at the Insurance Analytics Canada Summit in downtown Toronto. Greg McCutcheon, president of Markham, Ont.-based

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

No need for ‘massive upfront investment’ to get data analytics to work: Insurance Analytics summit speaker

June 29, 2017 Greg Meckbach, Associate Editor

Insurance professionals who are implementing data analytics need to focus on what they want to achieve and need to deliver value quickly to senior business leaders, a Travelers Canada executive suggested Thursday at the Insurance Analytics Canada Summit. “The focus

News CatastrophesInsuranceMergers and AqcuisitionsReinsuranceTechnology

Data analysis may start to focus more on modelling the process than the data itself, CIFF speakers suggest

May 29, 2017 Jason Contant, Online Editor

Data 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

News InsuranceTechnology

Facebook a ‘critical part’ of financial service providers’ marketing strategy: CSIO speaker

April 17, 2017 Greg Meckbach, Associate Editor

Insurance providers need to consider mobile computing devices and targetting prospective customers at certain stages of their life, a Facebook Canada official recently told members of the Centre for Study of Insurance Operations. “Think mobile first,” said Robert Geller, a