Keyword
Payments Canada
Open banking in Canada could help insurers with credit scoring
January 20, 2021 by Greg MeckbachOpen banking could give insurers better data for credit scoring, suggests an official with the organization that handles clearing and settlement for banks in Canada. “I think we will see more accurate underwriting and more accurate credit scoring,” Andrew McFarlane,…
How career prospects are looking in risk management
May 16, 2019 by Greg MeckbachAre you one of those brokers who’s thinking of changing jobs so that you’re buying commercial insurance instead of selling it? “There is a shortage of supply [of risk managers], so if anybody is looking for a fast way to…
Aviva Canada looking into electronic payments standard
February 22, 2018 by Jason ContantAs payment systems continue to modernize globally and locally, one Canadian insurer says it is hoping to explore opportunities related to its payment infrastructure. While it is not currently using ISO 20022, an international standard that supports electronic payments, Aviva…
Want to offer real-time claims payments? Start planning now
February 19, 2018 by Jason ContantCanadian insurance companies should start to plan now how they will implement ISO 20022, an international standard that supports electronic payments, the chief operating officer of Payments Canada told Canadian Underwriter Wednesday. “Your large insurance companies… ought to be thinking…
Standards now exist for same-day insurance claims payments
February 15, 2018 by Jason ContantImagine 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…
Modernization of payment systems long overdue amid rapid changes: Bank of Canada official
May 26, 2017 Andy Blatchford - THE CANADIAN PRESSThe country’s payments infrastructure is long overdue for an update to ensure financial system stability amid the rapid advance of new technologies and the risks that accompany them, a senior Bank of Canada official said Thursday. Deputy bank governor Sylvain…