Canadian Underwriter

Topic
Products

News InsuranceMarkets / CoveragesProducts

Does product innovation require a change in coverage?

September 13, 2019 by Jason Contant

Remarkable product innovation can occur without really ever changing the core coverage of the product, Marc Lipman, chief operating officer at AIG Insurance Company of Canada, said Tuesday at the Connected Insurance Canada conference. He used the example of travel

News InsuranceProductsTechnology

Ontario approves electronic proof of auto insurance

September 5, 2019 by Jason Contant

Ontario has become the fourth province in Canada to approve the use of electronic proof of auto insurance (EPAI) for drivers, effective immediately. The approval, announced Thursday morning by Ontario’s Minister of Finance, Rod Phillips, follows the lead of Alberta,

News InsuranceProducts

How Spotify’s business model describes the future of insurance

August 29, 2019 by Jason Contant

Forget everything you know about insurance. That’s what the insurance product of the future will look like, says Tim Attia, CEO and co-founder of New York City-based Slice Labs. “Insurance will have to be like Spotify,” Attia said, referring to

News InsuranceMarkets / CoveragesProducts

Where to find travel coverage for thrill-seekers and pre-existing conditions

July 19, 2019 by Jason Contant

CAA Travel Insurance has introduced two new endorsements for thrill-seekers and travellers with pre-existing conditions. The products, an Adventurous Air Activities Rider and a Seven-Day Pre-Existing Condition Rider, include coverage that is not typically available in standard travel insurance policies,

News InsuranceProductsTechnology

One way to minimize double entry of data

June 19, 2019 by Jason Contant

One question often on the minds of brokers is how do they better digitize their processes and minimize the amount of data they have to enter into various systems. “Our position is that data should be created in a digital

News InsuranceProductsProfessional DevelopmentTechnology

Do you need an API product manager?

June 14, 2019 by Jason Contant

Are you working with enough application programming interfaces (APIs) that you need an API product manager? Mark O’Neill, VP analyst at research and advisory firm Gartner, recommends that companies create such a role within their organization. The role doesn’t necessarily

News InsuranceProductsTechnology

Should cyber insurance products become more standardized?

June 10, 2019 by Jason Contant

How far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There

News BrokersInsuranceProductsTechnology

New cyber insurance platform offers quotes using single piece of data

May 23, 2019 by Jason Contant

While online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote

News InsuranceProductsTechnology

Allstate Canada debuts telematics app

May 16, 2019 by Jason Contant

Allstate Insurance Company of Canada has joined the ranks of insurers providing telematics apps. Allstate Canada said Monday it has debuted a “personalized app for the modern driver” as National Road Safety Week (May 14-20) kicks off in Canada. Several other

News InsuranceProductsRisk

Why more companies aren’t using alternative risk transfer solutions

April 30, 2019 by Jason Contant

A lack of understanding about alternative risk transfer (ART) solutions, particularly among C-suite executives, remains a major obstacle to their expanded use, according a new report from Marsh and RIMS. Nearly half of C-suite respondents said they don’t understand how

News InsuranceProducts

These two provinces now have storm surge and overland flood coverage

January 7, 2019 by Jason Contant

Homeowners in Quebec now have storm surge coverage available, while homeowners in Manitoba are covered for overland flood damage, The Co-operators said Monday. Storm surge, which includes rising water levels and waves caused by storms, presents a significant flood risk,

News InsuranceProductsProfessional Development

Innovation hub for on-demand insurance products opens in Toronto

December 20, 2018 by Jason Contant

An insurance cloud platform provider has opened an “innovation hub” in downtown Toronto to “ideate, experiment, test and deploy” new on-demand insurance products. Slice Labs announced Wednesday the opening of the Slice Launch Studio for the company and its partners