Keyword
Data
One collateral benefit of IFRS 17
November 14, 2019 by Jason ContantInsurers who go beyond just mere compliance with IFRS 17 into data optimization are reaping the benefits, including expanded capabilities with advanced analytics, machine learning and artificial intelligence, speakers said Wednesday at an industry event. The rich dataset collected from…
Ransomware: should your client pay the demand?
September 11, 2019 by Jason ContantIf your client suffers a ransomware attack, should they pay the ransom to get their systems up and running again? And if they do pay, does that guarantee the cyber criminals who locked down the systems in the first place…
One way to minimize double entry of data
June 19, 2019 by Jason ContantOne question often on the minds of brokers is how do they better digitize their processes and minimize the amount of data they have to enter into various systems. “Our position is that data should be created in a digital…
How AI can connect the dots between your systems
April 26, 2019 by Jason ContantArtificial intelligence (AI) should be used to “connect the dots” between different data silos and decisions made within an insurance company, Charles Dugas, head of insurance at Element AI, said last week. The goal is to develop a system that…
Why brokers need to take ownership of data
April 11, 2019 by Jason ContantBrokers need to take ownership of the data they collect to personalize and improve the customer experience, a speaker suggested Tuesday at the CIP Symposium in downtown Toronto. “For the brokers in the room, how does your client feel if…
How innovation changes the underwriter’s job
March 6, 2019 by Greg MeckbachTechnology and data will change the underwriter’s job but will not eliminate it, suggests Russell Johnston, chief executive officer for North America of QBE Insurance Group Limited. “At the end of the day, people still make the decisions,” Johnston said…
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…