Analytics 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…
More than 80% of homeowners insurance carriers in the United States believe that smart home and Internet of Things (IoT) technology will attract new property and casualty customers and improve customer relationships, according to a new report from NTT DATA.…
Artificial intelligence (AI) and the Internet of Things (IoT) now account for almost half of total investment in insurance technology (insurtech) startups globally, according to new research from global professional services company Accenture. The research, which includes new analysis of…
The Office of the Privacy Commissioner of Canada will soon be funding an arms-length project to develop a code of practice for connected cars, weighing a balance between information flow and privacy protection. “The benefits available to Canadians through the…
Silicon Valley Insurance Accelerator (SVIA) announced on Thursday the launch of its InsurTech Innovation Lab, which can “fast track projects from simple proof of concepts to standing up complete solutions, products and even companies.” The research, design and development centre…
Polled Canadian organizations are struggling to keep up with constant technology change despite executives viewing digital strategy, cyber security and data analytics as quite or highly important skills to their businesses, notes a new report issued Wednesday by PricewaterhouseCoopers (PwC)…
Cyber security is more of a human resources issue than a technological issue, while cyber security threats are often detected more than six months after they occur, speakers told insurance professionals at a conference last week. “The nature of IT…
Bodily injury and property damage exclusions in cyber insurance policies means the Internet of Things has “big implications” for organizations, while malware that existed unbeknownst to a user before binding a policy can mean a cyber incident is not covered,…
The motivation and rationale behind certain cyber attacks seems to be undergoing a transition, with some actors looking to inflict the most disruption possible on a target entity simply for the “fun” of it, it was suggested Thursday during the…
Northbridge Insurance has teamed up with Alert Labs for a pilot project that provides customers up to $150 in annual savings on their home insurance if they purchase sensors aimed at protecting homes against water damage. The pilot project offers…
Only 43% of Canadian companies could spot a “significant cybersecurity incident,” compared to 50% globally, according to EY’s Global Information Security Survey, released on Wednesday. The survey captured the responses of 1,735 participants around the globe from more than 20…
IT research and advisory company Gartner, Inc. is forecasting that 8.4 billion “connected things” will be in use worldwide in 2017, up 31% from 2016, and reaching 20.4 billion by 2020. The company added in a press release last week…