Artificial intelligence (AI) should be used to “connect the dots” between different data silos and decisions made within an insurance company, Charles Dugas, head of insurance at Element AI, said last week. The goal is to develop a system that…
Alberta brokers should touch base with the new provincial government and explain how auto insurance rules needs to change, suggests the Insurance Bureau of Canada’s CEO. “Our campaign for change moves into a new phase with the recent election of…
Newfoundland & Labrador has introduced a slew of changes intended to help stabilize insurance rates – and a cap on minor injuries, implemented in many other Canadian provinces, isn’t one of them. Instead, the provincial government is proposing to raise…
Insurance companies or brokerages looking to acquire another company should perform due diligence not just on the financials of the target firm, but also its regulatory vulnerabilities during the M&A process. “The idea is to identify potential data breaches and…
Managing cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’”…
Are you a personal lines specialist who is attracted by the allure of working in commercial lines? You’re not alone. “I think a lot of people often say, ‘Well, I’m in personal lines and I aspire to commercial because it’s…
As the newly-elected United Conservative Party (UCP) prepares to take power in Alberta, it remains an open question what the victory will mean for the province’s auto insurance companies and brokers. In his electoral victory speech, UCP Leader Jason Kenney…
Change can be a “wonderful thing,” but organizations must be aware of its cumulative impact, the president and CEO of CNA Canada said last week at the CIP Society Symposium’s Up Close and Personal session. Imagine an insurance company that…
Preparing in advance for how a cyber-related business interruption loss may play out can help transform the claims process, speakers said earlier this month at NetDiligence’s Cyber Risk Summit in Toronto. A lot of the “claims frustration” can be avoided…
An Uber-style platform to expedite home and auto claims appraisals has made its way into Canada. Offered by WeGoLook, the online and mobile sharing-economy platform provides personalized, onsite data capture for inspections and low-complexity services across the United States. Now…
WINNIPEG – A judge has ruled a fire that destroyed a hardware store in the western Manitoba town of Neepawa more than four years ago was deliberately set. The decision follows a lawsuit filed by the owner of the Home…
Pembridge Insurance Company is asking brokers in four provinces to tell auto clients how much they could save by using a usage-based insurance app. Some motorists do not want usage-based insurance, Bob Tisdale, president of Pembridge, said Friday in an…