Keyword
United Kingdom
“Nearly all” U.K. drivers paying record amounts for car insurance: Association of British Insurers
July 10, 2017 by Canadian UnderwriterDrivers in nearly all age groups in the United Kingdom are paying record amounts for their car insurance and could face further increases unless the government takes action to reduce claims costs, the Association of British Insurers (ABI) warned recently.…
Some CEOs, enterprises missing the boat on mobile technology: SOTI study
July 7, 2017 by Canadian UnderwriterEfforts to manage mobile transformation continues to be a struggle for some interviewed enterprises, with almost a third reporting they are not investing in mobile technology, notes a new study released Thursday by SOTI Inc. Commissioned by SOTI and conducted…
No need for ‘massive upfront investment’ to get data analytics to work: Insurance Analytics summit speaker
June 29, 2017 Greg Meckbach, Associate EditorInsurance professionals who are implementing data analytics need to focus on what they want to achieve and need to deliver value quickly to senior business leaders, a Travelers Canada executive suggested Thursday at the Insurance Analytics Canada Summit. “The focus…
Specialist Lloyd’s broker now providing regional Canadian brokers with direct access to London liability insurance market
June 29, 2017 by Canadian UnderwriterServca, the independent international specialist Lloyd’s broker, announced on Thursday that is has expanded its global footprint into Canada. Servca now provides regional Canadian brokers with direct access to Lloyd’s of London specialist products, schemes and carriers, “catering for non-standard…
New cyberattack causes mass disruption globally
June 27, 2017 by Canadian UnderwriterOne month after the massive global WannaCry ransomware attack, “a new and highly virulent outbreak of malicious data-scrambling software appears to be causing mass disruption across the world, hitting companies and governments in Europe especially hard,” the Associated Press reported…
Majority of global financial institutions to ramp up transformation initiatives over next year, Accenture survey finds
June 26, 2017 by Canadian UnderwriterAn Accenture survey of nearly 800 financial services executives across Europe, Asia and North America found that more than half of financial institutions plan to increase their investments in major corporate transformation initiatives, or “change programs,” over the next 12…
Canadian firms may be overconfident in their cybersecurity preparedness: FICO survey
June 21, 2017 by Canadian UnderwriterCanadian firms, particularly those in the telecommunications sector, may be overconfident in their cybersecurity preparedness, according to a recent survey conducted by research and consultancy firm Ovum for Silicon Valley analytics firm FICO. For the survey, Ovum conducted telephone interviews…
Canada second most expensive country for data breaches: IBM and Ponemon Institute study
June 20, 2017 by Canadian UnderwriterCanada was the second most expensive country for data breaches, costing an average of $255 per lost or stolen record in 2017, according to a new report sponsored by IBM Security and conducted by the Ponemon Institute. Released on Tuesday,…
AIG, IBM and Standard Chartered Bank pilot “first multinational insurance policy powered by blockchain”
June 15, 2017 by Canadian UnderwriterAmerican International Group Inc. (AIG), IBM and Standard Chartered Bank plc announced on Thursday that they have successfully piloted what they are calling the “first multinational ‘smart contract’ based insurance policy using blockchain.” Working together, AIG, IBM and international banking…
Price continues to be hurdles to adoption of smart home devices: survey
June 12, 2017 by Canadian UnderwriterPrice is among the top barriers to more people adopting smart home technology to help ease home management pain points in the United States, notes a survey of 1,000-plus adults south of the border released by U.K. smart home brand…
36% of polled Canadian firms have no cyber security insurance: FICO
June 1, 2017 by Canadian UnderwriterMore than a third of surveyed Canadian firms do not have cyber security insurance, a concerning situation made worse by an incomplete understanding of how premiums are priced and failure to do everything possible to guard against breaches, FICO notes.…
Technological change and cyber risk overtake regulation as top risks for global insurers: study
May 31, 2017 by Canadian UnderwriterThe global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close observers of the sector, released on Tuesday. The Centre for the Study of…