Segment
Vendors
Endeavour, Advent Claims partner to support Lloyd’s coverholders in Canada
September 7, 2017 by Canadian UnderwriterAdvent Claims will provide its claims management system to Lloyd’s broker, Endeavour Insurance Services, as part of a new partnership arrangement meant to support London market coverholders operating in Canada. Advent Claims is a technology-led claims third-party administrator; Endeavour Insurance…
Free online offering hopes to bolster catastrophe modelling understanding
September 5, 2017 by Canadian UnderwriterWhat has been described as the first free and neutral open online catastrophe modelling course was launched today to help those working in climate change and disaster loss mitigation, academia and insurance better understand the use of models in nat-Cat…
MacEwan University in Edmonton victim of $11.8 million phishing attack
September 1, 2017 by Canadian UnderwriterMacEwan University has reported it was the victim of a phishing attack in August that resulted in the transfer of $11.8 million to the alleged perpetrator. MacEwan University said in a statement on Thursday that it discovered the fraud on…
Magna unveils autonomous driving platform it says “can be integrated into any vehicle”
August 31, 2017 by Canadian UnderwriterMagna International Inc. unveiled on Wednesday an autonomous vehicle platform it says “can be integrated into any vehicle without compromise to vehicle design and styling.” MAX4 is a fully integrated, customizable and scalable autonomous driving sensing and compute platform that can enable up to Level 4 autonomous driving capabilities in both urban and highway environments, Magna said in a press release on Wednesday.
The SAE (Society of Automotive Engineers) International defines Level 4 as “high automation,” where the automated driving system performs all…
Data the engine for innovation to improve business, serve customers, speaker suggests
August 30, 2017 by Angela StelmakowichOrganizations can be the driving force behind innovation that transforms their operations and helps them better serve customers, but those advances will increasingly rely on having a store of good data available, it was suggested Tuesday during the 5th Annual…
Augmented and virtual reality poised to impact insurance industry: Novarica
August 29, 2017 by Canadian UnderwriterAugmented and virtual reality each boast considerable potential for impact within the insurance industry, with implications spanning risk mitigation, improved efficiency and loss ratios and enhanced customer service, Novarica said in a new executive brief. While their effect will be…
Worldwide wearable device sales to grow 16.7% in 2017 to 310.4 million units: Gartner
August 28, 2017 by Canadian UnderwriterResearch and advisory company Gartner, Inc. is forecasting that 310.4 million wearable devices will be sold in 2017, a 16.7% increase from last year. Sales of wearable devices – including smartwatches, fitness trackers and other smart devices – will generate…
Harvey creating life-threatening flooding in southeastern Texas, early damage estimate up to US$2 billion
August 28, 2017 by Canadian UnderwriterCatastrophic and life-threatening flooding persisted over parts of southeastern Texas as of early Monday morning despite Harvey being downgraded from an anticipated Category 3 hurricane to a tropical storm. “Do not attempt to travel in the affected areas if you…
55% of poll respondents will not ride in a fully autonomous vehicle, Gartner survey finds
August 26, 2017 by Canadian UnderwriterAn online survey from research and advisory company Gartner, Inc. has found that 55% of polled respondents “will not consider riding in a fully autonomous vehicle.” The Gartner Consumer Trends in Automotive survey polled 1,519 people in the United States…
83% of polled organizations had standalone cyber insurance policies: 2017 RIMS Cyber Survey
August 24, 2017 by Canadian UnderwriterOrganizations with standalone cyber insurance policies increased three points from 2016 to 83%, according to the 2017 RIMS Cyber Survey. “Risk professionals’ continued to show confidence in standalone cyber insurance policies as the number of practitioners who purchased the coverage…
Collaboration leads to milestone achievement to define data exchange standards between companies, brokers
August 23, 2017 by Canadian UnderwriterThe long-standing objective of standardized real-time data exchange between insurance brokers and companies has taken a big step forward with Tuesday’s announcement that initial testing of the process has been successfully completed. A team of players in Canada’s p&c insurance…
Worldwide spending on IT security products and services to reach US$86.4 billion in 2017: Gartner
August 22, 2017 by Canadian UnderwriterWorldwide spending on information technology security products and services will reach US$86.4 billion in 2017, an increase of 7% over 2016, according to the latest forecast from Gartner, Inc.
Spending is expected to continue its growth to US$93 billion in 2018, the Stamford, Conn.-based research and advisory company said in a press release last week.
Within the infrastructure protection segment, Gartner forecasts fast growth in the security testing market (albeit from a small base) due to continued data breaches and growing demands for application security testing as part of…