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36% of polled Canadian firms have no cyber security insurance: FICO
June 1, 2017 by Canadian UnderwriterMore than a third of surveyed Canadian firms do not have cyber security insurance, a concerning situation made worse by an incomplete understanding of how premiums are priced and failure to do everything possible to guard against breaches, FICO notes.…
Innovation-based disruption in personal lines insurance will drive new business models: Conning
May 31, 2017 by Canadian UnderwriterTechnology-focused investments are pushing business model changes across industries, and insurance is not immune to these pressures, a new study by global investment management firm Conning suggested. Released on Wednesday, the study examines the changes that are underway in personal…
More data-based use cases likely offers greater shot at success for insurers exploring connected insurance: expert
May 24, 2017 by Canadian UnderwriterThe greatest value to insurance industry players and their customers will likely not be realized without expanding the number of data-based use cases, Matteo Carbone, founder and director of the Connected Insurance Observatory, recently suggested. “Connected insurance is about gathering…
Toyota Research Institute exploring blockchain for possible use in autonomous driving technology
May 23, 2017 by Canadian UnderwriterThe Toyota Research Institute (TRI) announced on Monday that it is exploring blockchain and distributed ledger technology (BC/DL) for use in the development of a “new mobility ecosystem that could accelerate development of autonomous driving technology.” TRI is collaborating with…
The toughest challenge for self-driving cars? Human drivers
May 11, 2017 Tom Krisher - THE ASSOCIATED PRESSDETROIT – In just a few years, well-mannered self-driving robotaxis will share the roads with reckless, law-breaking human drivers. The prospect is causing migraines for the people developing the robotaxis. A self-driving car would be programmed to drive at the…
U.S. enterprises reporting renewed preference for in-house, domestic IT services: Clutch survey
May 4, 2017 by Canadian UnderwriterHow much of a priority organizations view IT services seems to be influencing decisions around using in-house resources rather than outsourcing services to an external vendor, suggests a new survey of IT decision-makers south of the border. Released Wednesday, the…
Confusion, frustration common to BI claims can be lessened: RIMS survey
April 26, 2017 Angela StelmakowichPHILADELPHIA – Quantifying business interruption losses continues to be a big challenge, reported by almost six in 10 RIMS members taking part in a recent survey, but a well-conceived approach by risk managers can help to clear any hurdles. “By…
Damage to reputation/brand gets social, cyber jumps higher on risk list: Aon survey
April 24, 2017 by Angela StelmakowichPHILADELPHIA – Social media is amplifying the impact of the top-ranked risk for businesses – damage to reputation and brand – while cyber risk has fully entrenched itself in the Top 10, becoming the number one risk for respondents in…
BlackBerry expanding channels of distribution via cyber security initiative with Allied World
April 21, 2017 by Canadian UnderwriterOntario-based BlackBerry Limited is growing its footprint in the insurance industry through a new initiative with Allied World Assurance Company Holdings in which the latter’s U.S. cyber policyholders will gain direct access to the former’s cyber security expertise through an…
Innovative technologies clustered on expectations side, most types of technology two to 10 years away: CIAA event speaker
April 19, 2017 by Angela StelmakowichThe influence of technology will be more clearly felt in the next 10 or 15 years as opposed to the next few years, Duncan Stewart, director of technology, media and telecommunications research for Deloitte Canada, suggested during a Canadian Insurance…
Sharing economy not fully served by insurance industry, but opportunity is there: Kovacs
April 9, 2017 Jason Contant, Online EditorThe sharing economy is not fully served by the insurance industry right now, but the opportunity is there, Paul Kovacs, founder and executive director of the Institute for Catastrophic Loss Reduction, said on Thursday at the CIP Society Symposium 2017.…
Analytics single greatest disruptor to Canadian insurance industry: survey
April 4, 2017 by Canadian UnderwriterAnalytics is the single greatest disruptor to the Canadian insurance industry today, according to 65% of executives polled for a recent survey by Insurance Nexus, a division of FC Business Intelligence. Insurance Nexus reported on Tuesday that it recently surveyed…