Keyword
Data
Canadian P&C industry enters “hybrid cloud” phase
July 24, 2018 by David GambrillCanadian P&C insurance companies have entered a transitional technology phase that will see data from their legacy systems get transferred online. “We are in a hybrid-cloud paradigm,” Frank Attaie, vice president of cloud and software at IBM Canada, told Canadian…
Data-harvesting firms are exploiting gaps in Canadian law, MPs hear
May 10, 2018 The Canadian PressOTTAWA – Lawmakers delving into the Facebook data scandal are hearing experts call for substantial regulatory upgrades to protect the privacy of Canadians – as well as warn of democratic and economic risks posed by foreign companies motivated by “surveillance…
How to render stolen online data useless to hackers
April 5, 2018 by Jason ContantPassive or behavioural biometrics may be a way for your client or company to render useless the information lost in a data breach. This technology monitors the user’s inherent behaviour, “making it impossible for hackers to replicate or steal,” says…
You’ve got your clients’ data locked down, but can you prove it to a regulator?
March 28, 2018 by David GambrillInsurance organizations may be good at protecting their own clients’ data, but can they prove it? “In general, I would say that insurers are good at securing their data,” French Caldwell, a former advisor to the White House on cybersecurity,…
Are you leveraging IoT data?
March 23, 2018 by Jason ContantInsurers may recognize the importance of collecting and mining data, but a recent U.S. study shows few currently have an IoT strategy, are collecting IoT data, or have dedicated resources. LexisNexis Risk Solutions released a white paper Tuesday entitled, Are…
What customers will soon expect from insurance carriers
February 26, 2018 by Jason ContantInsurance customers are going to start expecting personalized products and services based on data, Andrew Lo, president and CEO of Kanetix Ltd., said during a webinar Thursday. “Our customers are going to expect smart personalization like, ‘Give me the products…
Standards now exist for same-day insurance claims payments
February 15, 2018 by Jason ContantImagine when same-day insurance claims payments are a reality, without the need to overhaul any existing infrastructure. That could become a reality sooner than you think. ISO 20022, an international payments messaging standard that supports electronic payments, is already in…
Commercial brokers close to “holy grail” of data integration
November 19, 2017 by Canadian UnderwriterToronto Insurance Conference (TIC), an association of Canadian commercial insurance brokers, is poised to launch a proof of concept leading towards real-time data integration — the “the holy grail” of commercial lines insurance. It’s a big step towards real-time data…
Cyber attacks among polled U.S. business costing at least US$5,000
October 2, 2017 by Canadian UnderwriterSeven in 10 of the surveyed U.S. businesses that experienced a cyber attack in the last year spent in excess of US$5,000 to investigate each incident, restore or replace software and hardware, and address any other consequences. However, 38% of…
Endeavour, Advent Claims partner to support Lloyd’s coverholders in Canada
September 7, 2017 by Canadian UnderwriterAdvent Claims will provide its claims management system to Lloyd’s broker, Endeavour Insurance Services, as part of a new partnership arrangement meant to support London market coverholders operating in Canada. Advent Claims is a technology-led claims third-party administrator; Endeavour Insurance…
Insurers have ‘hidden behind’ regulators: Executive Forum speaker
August 30, 2017 Greg Meckbach, Associate EditorTechnological innovation is not among the goals of some government regulators overseeing insurance markets, but some can be persuaded to allow innovation if a determined insurance provider presents “a good case study,” speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We as insurers have hidden behind the regulators for a long time and have said, ‘Gosh, I would love to do that but I won’t be allowed to,” said David Crozier, president and chief executive officer of Everest Insurance Company of Canada. “We…
Data the engine for innovation to improve business, serve customers, speaker suggests
August 30, 2017 by Angela StelmakowichOrganizations can be the driving force behind innovation that transforms their operations and helps them better serve customers, but those advances will increasingly rely on having a store of good data available, it was suggested Tuesday during the 5th Annual…