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Why the cyber market has become so crowded

January 31, 2019 by Greg Meckbach

Clients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage

News CatastrophesInsuranceMarkets / CoveragesRisk

Private flood insurance cited in new emergency management plan

January 28, 2019 by Jason Contant

Federal, provincial and territorial (FPT) governments could “engage the private sector to develop an affordable private flood insurance model for the entire population, including clear incentives for mitigation of flood risks,” says a newly released emergency management strategy. Ministers have

News InsuranceMergers and Aqcuisitions

Alberta insurance tech provider acquires Ontario specialty insurer

January 23, 2019 by David Gambrill

Besurance Corporation, a Calgary-based insurance and technology company, has agreed to acquire Fenchurch General Insurance Company, an Ontario-based specialty insurer that offers insurance programs across Canada. Specifically, Fenchurch provides programs in warranty, trucking, surety and accident and sickness. Its products

News InsuranceTechnology

How weak insurance sector growth puts technology in the spotlight

January 17, 2019 by Jason Contant

Expected weak insurance sector growth in the near-term is fueling the need for efficiency gains through technology and innovation, Ernst & Young Canada said recently. The EY Insurance Outlook 2019 reveals that insurance sector growth is expected to remain weak

News InsuranceTechnology

Why future AI will involve less data

January 14, 2019 by Jason Contant

Machines and applications with artificial intelligence (AI) capabilities will soon rely less on bottom-up big data and more on top-down reasoning that more closely resembles the way humans approach problems and tasks, Accenture said Monday. “We will have top-down systems

News Insurance

2019 Executive Outlook | Colm Holmes, Aviva Canada

January 3, 2019 Canadian Underwriter

Canadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019

News Insurance

2019 Executive Outlook | Heather Masterson, Travelers Canada

January 3, 2019 Canadian Underwriter

Canadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019

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

News InsuranceTechnology

Flying cars may appear in urban skies by 2023

December 17, 2018 Christopher Reynolds - THE CANADIAN PRESS

The flying cars depicted in science fiction classics such as “Blade Runner” and “The Fifth Element” have long been seen as flights of fancy, but their arrival is closer than you think. At least a dozen companies are prototyping or

News InsuranceTechnology

Is 2019 the year of hyper-personalized, omnichannel insurance in Canada?

December 12, 2018 by Jason Contant

Meeting consumers where they already are by moving towards an omnichannel strategy is one of the trends that will reshape the Canadian insurance industry in 2019, a market intelligence agency predicts. The application programming interface (API) mindset and integrated omnichannel

News InsuranceTechnology

What could stop insurers from being ‘uberized’

December 7, 2018 by Greg Meckbach

Amazon and Google may disrupt the insurance industry some day, but don’t expect either of these firms to start underwriting, suggests the head of one of Canada’s largest property and casualty insurers. “The Googles and Amazons of this world might

News InsuranceMGAsTechnology

Why smaller is better for MGAs looking to innovate

December 3, 2018 by Jason Contant

Sometimes even simple technological changes can help managing general agencies (MGAs) become more innovative, a software provider said last week at Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “What everybody should be thinking about critically is where is my company today