Canadian Underwriter

Keyword
telematics

News InsuranceTechnology

Intact reports ‘world of difference’ with telematics

June 20, 2018 by Greg Meckbach

Hard numbers showing the impact of telematics remain elusive, but Canada’s largest property and casualty insurer says the technology does separate the good risks from the bad. Telematics is a vehicle diagnosis technology that collects data such as distance travelled,

News BrokersInsuranceTechnology

Why this broker takes exception to usage-based auto insurance app

June 19, 2018 by Greg Meckbach

Usage-based insurance has raised the profile of insurers on consumers’ electronic devices, and this could be bad news for some brokers. Several auto insurers are using UBI to offer discounts based on data gather from telematics. That technology lets insurers

News ClaimsInsuranceTechnology

The untapped potential of telematics in auto claims

June 12, 2018 by Greg Meckbach

Telematics, which records data on vehicle behaviour, is used now mainly for underwriting, but the technology can also provide a treasure trove of information for claims adjusters, one vendor suggests. Auto insurance claims adjusters could potentially use telematics to determine

News InsuranceTechnology

How telematics affected this insurer’s loss ratio

June 10, 2018 by Greg Meckbach

Could Canadian insurers cut auto claims costs by 15% by using telematics? Perhaps, if they could somehow import the experience of European insurers. An unnamed European insurer compared its auto insurance customers who were using telematics with its customers who

News Brokers

Broker training underway for new distance-based auto insurance

May 23, 2018 by Greg Meckbach

Brokers selling auto insurance written by the CAA Insurance are now getting trained on a new product targeting low-mileage drivers. All 41 of CAA Insurance’s broker partners “are being trained on all aspects” of MyPace, CAA Insurance president Matthew Turack

News InsuranceMarkets / CoveragesTechnology

What customers will soon expect from insurance carriers

February 26, 2018 by Jason Contant

Insurance customers are going to start expecting personalized products and services based on data, Andrew Lo, president and CEO of Kanetix Ltd., said during a webinar Thursday. “Our customers are going to expect smart personalization like, ‘Give me the products

News InsuranceMarkets / CoveragesTechnology

Why consumers may be snubbing telematics

January 9, 2018 by Jason Contant

Privacy and security concerns may be contributing to a lower-than-expected uptake of telematics programs, Andrew Lo, the president and CEO of Kanetix Ltd., said on Monday. Also, there seems to be some confusion among consumers about the data insurers are

News InsuranceTechnology

‘Lots of people don’t like telematics,’ insurer reports

December 14, 2017 Greg Meckbach, Associate Editor

Opportunities for “broker-driven” usage-based auto insurance are likely to be down the road, but brokers are telling a large Canadian mutual that their insurance customers don’t want their insurers monitoring how they use their vehicles. “Our brokers are advising us

News InsuranceLegislation / RegulationTechnology

Industry encouraged to offer discount for using cellphone blockers

December 11, 2017 Greg Meckbach, Associate Editor

Vehicle owners who install smart phone-blocking apps should get a break on insurance rates, some industry groups contend. British Columbia’s government-owned auto insurer says it will roll out telematics devices designed to block drivers from using their wireless phones on

News InsuranceMergers and AqcuisitionsTechnology

Octo completes acquisition of Willis Towers Watson’s UBI assets

December 11, 2017 David Gambrill, Editor-in-Chief

Octo Telematics, a global provider of telematics for the auto insurance industry, has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson. Octo’s acquisition includes Willis Towers Watson’s DriveAbility solution and the DriveAbility Marketplace. Geoff Werner

News InsuranceMarkets / CoveragesProductsTechnology

Regulator challenges rosy telematics picture

December 2, 2017 Greg Meckbach, Associate Editor

Canadian auto insurers have been using telematics to gather data on driving behaviour for years, with one insurer having billions of miles’ worth of data, but it remains debatable whether pay-as-you-drive technology actually reduces insured losses. Claims costs “could conceivably

News AnnouncementsAppointmentsInsuranceMergers and AqcuisitionsTechnology

Octo Telematics to acquire Willis Towers Watson’s UBI assets; firms to partner on insurance-related products

October 12, 2017 by Canadian Underwriter

Octo Telematics and Willis Towers Watson (WTW) have reached an agreement in which the former will acquire the latter’s usage-based insurance (UBI) assets, setting the stage for the two companies to work together on more auto telematics opportunities. Leveraging Octo’s