Canadian Underwriter

Keyword
machine learning

News InsuranceTechnology

How the industry can take advantage of artificial intelligence

June 18, 2020 by Greg Meckbach

Brokerages who use artificial intelligence could find opportunities to upsell based on changes in a client’s lifestyle, according to a software vendor executive. The more data you feed a machine learning model and the more you train it, the better

Feature LegalTechnology

Do you know where your data is going?

December 9, 2019 Roisein Hutchinson, Senior Associate, Walker Sorensen LLP

So, you want to work with insurtechs. A guide to how your contracts should handle the sharing of private consumer information between you….

News Commercial LinesTechnology

Why your commercial book will start getting a lot more rejections

November 6, 2019 by Greg Meckbach

Insurers who replace underwriters with computers are rejecting a lot of small business applications for reasons that are unclear to the brokers, a commercial broker suggests. “I think that insurers will start to realize that the black boxes are actually

News InsuranceLegislation / RegulationTechnology

Should insurers self-regulate this field of study?

September 18, 2019 by Jason Contant

Insurers should consider self-regulating machine learning practices before regulations are imposed on them, a speaker suggested last week at the Connected Insurance Canada conference in Toronto. Moderator Stephen Applebaum, principal at Insurance Solutions Group, asked panelists if regulators understand machine

News InsuranceTechnology

Focus on these three areas when developing AI best practices

September 17, 2019 by Jason Contant

Financial institutions looking to adopt and develop best practices on the responsible use of artificial intelligence (AI) should focus on three areas: explainability, bias and diversity, experts say. A new TD Bank Group survey of 1,200 Canadians found that a

News InsuranceTechnology

The limits of artificial intelligence in insurance

April 11, 2019 by Greg Meckbach

Artificial intelligence has not reached the point where it is replacing humans in the insurance industry because many processes still require human intervention, speakers said at a recent insurance conference. Artificial intelligence is used in some cases for client engagement

News RiskTechnology

The downside risk of machine learning

April 8, 2019 by Greg Meckbach

Machine learning and artificial intelligence can create liability risk if it makes decisions that would be inappropriate or even illegal if a real person made them, a risk expert warns. “If you train an algorithm with data that has underlying

News Mergers and AqcuisitionsRiskTechnology

Managing your client’s M&A risk with A.I.

October 1, 2018 by Greg Meckbach

Mergers and acquisitions come with risks for buyers, and one law firm uses machine learning to help clients manage at least some of those risks. One risk to a buyer is when the target company has liabilities – such as

News InsuranceTechnology

A better way to transfer bad risks off the books

September 27, 2018 by Greg Meckbach

Law makers and regulators are stopping insurers from using technology that could actually help customers, speakers from two of Canada’s top three property and casualty carriers warn. Insurers have plenty of data that they could potentially use to rate auto,

News InsuranceTechnology

Get ready for the ‘internet of cows’: Farmers use technology to shake up agriculture

June 19, 2018 Ross Marowits - THE CANADIAN PRESS

MONTREAL – Get ready for the “internet of cows.” Generations of farmers have relied on knowledge and family expertise to grow food, but the sector is set for a surge of disruption at the hands of made-in-Canada artificial intelligence-powered systems.

News InsuranceTechnology

How you can make artificial intelligence more than just a ‘sexy sound bite’

May 22, 2018 by Greg Meckbach

Artificial intelligence may make for a wonderful sound bite, but insurance providers need to use this emerging technology to cut costs and serve customers better, two financial services executives warn. The financial services industry is “still at a stage where

News InsuranceProfessional DevelopmentTechnology

Insurers investing in AI can boost revenues by double digits: Accenture study

May 10, 2018 by Jason Contant

Insurers that invest in artificial intelligence (AI) and human-machine collaboration at the same rate as “top-performing” businesses could, over the next five years, boost their revenues 17% and their employment 7% on average, according to new research by professional services