Keyword
telematics
U.S.-based DrivSafe launches mobile telematics app in Canada
March 7, 2017 by Canadian UnderwriterDrivSafe, a Boston, Mass.-based mobile telematics solutions company that specializes in telematics and analytics for the auto insurance industry, has announced the launch of its mobile app in Canada. The DrivSafe app helps auto insurance companies evaluate the driving habits…
Nearly half of global insurers expect to acquire new technologies through M&A in the next three years: Willis Towers Watson survey
February 17, 2017 by Canadian UnderwriterNearly three-quarters of global insurers (74%) believe that their sector has failed to show leadership in digital innovation, according to a new survey by Willis Towers Watson (WTW) released on Thursday. The report, titled New horizons: How diverse growth strategies…
Insurance Bureau calls on Ontario to implement file-and-use process for private passenger auto, allow e-signatures
February 7, 2017 by Canadian UnderwriterThe Ontario government should apply a file-and-use process for private passenger auto coverage, Insurance Bureau of Canada suggested in a paper released Monday. Auto insurers’ rate changes are subject to approval by the Financial Services Commission of Ontario. FSCO actuaries…
Global insurance services market expected to grow due to IoT and changes in operating models
February 2, 2017 by Canadian UnderwriterThe global insurance services market is expected to grow at a compound annual growth rate (CAGR) of 4.9% over the next five years due to the increase in the use of the Internet of Things (IoT) and changes in operating…
LexisNexis Risk Solutions brings advanced analytics to U.S. telematics programs
January 24, 2017 by Canadian UnderwriterLexisNexis Risk Solutions has advanced its proprietary technology for insurance telematics programs in the U.S. to ensure the policyholder and driver are the same, contributing to a true picture of driver behaviour and improving consumer experience. “Up until now, U.S.…
Strategic planning of Canada’s p&c industry must extend to five, 10 years: Cook
January 11, 2017 by Angela StelmakowichCanada’s property and casualty insurance industry must look farther ahead in its strategic planning than it may be used to ensure it fully grasps developing conditions and can address related changes, Philip Cook, CEO of Omega Insurance Holdings Inc., suggested…
Telematics subscribers using embedded systems to reach 170 million worldwide by 2021, from 26.5 million at the end of 2015: report
December 21, 2016 by Canadian UnderwriterThe number of telematics service subscribers using embedded systems will grow at a compound annual growth rate (CAGR) of 36.4% from 26.5 million subscribers at the end of 2015 to 170.2 million subscribers at the end of 2021, according to…
BlackBerry creates autonomous vehicle innovation centre in Ottawa
December 20, 2016 by Canadian UnderwriterBlackBerry has announced the creation of the BlackBerry QNX Autonomous Vehicle Innovation Centre (AVIC). John Chen, executive chairman and CEO of BlackBerry Limited and Canadian Prime Minister Justin Trudeau unveiled AVIC on Monday. Housed within the BlackBerry QNX facility in…
Insurtech platform revenues to approach US$235 billion by 2021, driven by machine learning and blockchain adoption: report
December 13, 2016 by Canadian UnderwriterFintech platform revenues derived from supporting the insurance industry will reach almost US$235 billion globally by 2021, up 34% year-over-year from an estimated US$175 billion this year, according to new findings from Basingstoke, England-based Juniper Research. The research company said…
Global UBI market to reach US$123 billion by 2022, upsurge in demand expected from Canada and U.S.: report
November 23, 2016 by Canadian UnderwriterThe global usage-based insurance (UBI) market is expected to garner US$123 billion by 2022, growing at a compound annual growth rate of 36.4% from 2016 to 2022, according to a new report from Allied Market Research (AMR). According to the…
Calgary-based InsureMy partners with U.K. telematics provider to distribute new driver program to Canadian drivers
November 2, 2016 by Canadian UnderwriterCalgary-based brokerage InsureMy Ltd. and United Kingdom-based telematics provider Trak Global Group announced on Wednesday a partnership through an exclusive licensing agreement enabling InsureMy to “distribute products from the Trak/Carrot [Insurance] brand to maximize distribution points throughout Canada.” Trak Global…
Octo North America releases new suite of products for connected cars
October 17, 2016 by Canadian UnderwriterOcto North America announced on Monday that it has released a suite of new telematics products for connected cars. Octo Telematics, a London, United Kingdom-based global provider of telematics and data analytics solutions for the auto insurance industry, said in…