Canadian Underwriter

Keyword
Data

News Legislation / Regulation

Data-harvesting firms are exploiting gaps in Canadian law, MPs hear

May 10, 2018 The Canadian Press

OTTAWA – 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

News InsuranceTechnology

How to render stolen online data useless to hackers

April 5, 2018 by Jason Contant

Passive 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

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

You’ve got your clients’ data locked down, but can you prove it to a regulator?

March 28, 2018 by David Gambrill

Insurance 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,

News InsuranceMarkets / CoveragesTechnology

Are you leveraging IoT data?

March 23, 2018 by Jason Contant

Insurers 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

News InsuranceMarkets / CoveragesTechnology

What customers will soon expect from insurance carriers

February 26, 2018 by Jason Contant

Insurance 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

News ClaimsInsuranceTechnology

Standards now exist for same-day insurance claims payments

February 15, 2018 by Jason Contant

Imagine 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

News InsuranceMarkets / CoveragesProfessional Development

Commercial brokers close to “holy grail” of data integration

November 19, 2017 by Canadian Underwriter

Toronto 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

News ClaimsInsuranceMarkets / CoveragesTechnology

Cyber attacks among polled U.S. business costing at least US$5,000

October 2, 2017 by Canadian Underwriter

Seven 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

News InsuranceMarkets / CoveragesTechnology

Endeavour, Advent Claims partner to support Lloyd’s coverholders in Canada

September 7, 2017 by Canadian Underwriter

Advent 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

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Insurers have ‘hidden behind’ regulators: Executive Forum speaker

August 30, 2017 Greg Meckbach, Associate Editor

Technological 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…

News InsuranceTechnology

Data the engine for innovation to improve business, serve customers, speaker suggests

August 30, 2017 by Angela Stelmakowich

Organizations 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

News CatastrophesInsuranceMergers and Aqcuisitions

Insured costs for Cyclones Debbie and Cook in New Zealand upgraded to NZ$109 million from NZ$84 million in June

August 28, 2017 by Canadian Underwriter

The Insurance Council of New Zealand (ICNZ) has upgraded the insured costs associated with Cyclones Debbie and Cook to NZ$109 million from the NZ$84.4 million estimate in June. The two cyclones swept through New Zealand during April (Cyclone Debbie from