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report
Insurtech triggering transformation in personal lines: SMA
October 4, 2017 by Canadian UnderwriterNew research out of the United States assessing 600 start-ups identified as relevant for personal lines insurers indicates these new players may fail, but they are having a tangible impact on the p&c insurance industry and how it delivers services,…
Standard would help enhance flood resilience of new communities: report
September 26, 2017 by Angela StelmakowichResearch out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built…
Making ICBC a co-op one option for B.C., competition must be part of any option selected: taxpayers federation
August 25, 2017 by Canadian UnderwriterThe British Columbia government has options at its disposal to address auto insurance problems in the province – ranging from leaving the Insurance Corporation of B.C. (ICBC) to shuttering the insurer – but all should include reintroduction of competition, concludes a new report commissioned by the Canadian Taxpayers Federation (CTF). CTF argues that “fast and furious changes” are needed in light of the “looming 30% hike to car insurance,” a figure noted in an Ernst & Young LLP (E&Y) report made public last month. Among its many observations, the…
Australian insurers welcome Senate committee call for government to rethink funding for natural disaster mitigation
August 14, 2017 by Canadian UnderwriterInsurance Council of Australia (ICA) has welcomed a report by the Senate Economics References Committee supporting the council’s call for the federal government to invest in natural disaster mitigation and resilience, as well as back risk-based pricing. This spring, ICA…
Understanding of insider threat far from complete: U.S. report
August 9, 2017 by Canadian UnderwriterAlmost half of respondents to a recent U.S. survey are unaware of the potential for financial losses associated with an insider incident and a third do not know how much related losses are costing their organizations. Findings indicate many organizations…
Large corporations worldwide considering blockchain technology, some expect to roll out solutions next year: Juniper Research
August 1, 2017 by Canadian UnderwriterBlockchain technology is an increasing consideration among surveyed company representatives around the world, with most firms that have reached the proof of concept (PoC) reporting they expect to roll out solutions by the end of next year, Juniper Research reports.…
Canada’s fintech adoption rate doubles in last 18 months: EY report
July 25, 2017 by Angela StelmakowichCustomer wants, needs and demands are guiding players in Canada’s fintech space toward developing simpler, more transparent and customer-centric financial services products, with insurance expected to see a big increase in uptake in future, suggests new research released Tuesday by…
Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada
July 19, 2017 by Canadian UnderwriterCanadian businesses are more vulnerable to disruption than their global counterparts and need to make each line of service responsible for risk decisions, monitoring, oversight and assessment of vulnerabilities to bolster protection, suggest Canadian insights from a recent PwC report.…
Accepting failure can fuel success, drive advances for companies looking to reach digital maturity: global study
July 14, 2017 by Canadian UnderwriterTrying and accepting the possibility of failure has proved an effective way for organizations to clear the aversion-to-risk hurdle and advance toward digital maturity, notes a new study from MIT Sloan Management Review and Deloitte Digital. In all, 71% of…
Maintaining wetlands could slash riverine flooding-related damage, local pilot project has national applicability: study
July 12, 2017 by Angela StelmakowichJust leaving current wetlands in their natural state could cause riverine flooding-related flood damage to plummet as much as 38% and should provide the impetus for communities to view natural infrastructure as a climate adaptation solution, notes a study from…
Global premiums up in 2016, growth lower but outlook still positive: Swiss Re
July 5, 2017 by Canadian UnderwriterThe 3.7% increase in global insurance premiums on the non-life side in 2016 was driven by expansion among the emerging countries and exceptional performance in China, although growth weakened in advanced economies, Swiss Re Institute suggests in its latest sigma…
Disruption spawns opportunities for middle market, but risk preparedness concerning: Capital One
June 28, 2017 DisruptionThere appears to be a divide between middle-market companies fully expecting that disruption will unfold and taking concrete steps to address whatever risk that change may bring, suggest findings of a new study from New York-based Capital One Commercial Bank.…