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Open banking in Canada could help insurers with credit scoring

January 20, 2021 by Greg Meckbach

Open banking could give insurers better data for credit scoring, suggests an official with the organization that handles clearing and settlement for banks in Canada. “I think we will see more accurate underwriting and more accurate credit scoring,” Andrew McFarlane,

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What could push Facebook and Amazon into offering insurance

January 12, 2021 by Greg Meckbach

If the federal government goes forward with giving fintechs increased access to consumer financial transaction data, this could encourage large tech players like Amazon and Facebook to get into the insurance business, a Canadian P&C expert suggests. “Nobody ever thought

News Legislation / RegulationTechnology

Why you need to consider open banking

December 11, 2019 by Greg Meckbach

As open banking makes it easier for other players to access your clients’ financial data, now is the time for insurance professionals start thinking about how they can take advantage of this new model, an actuary advises. “A number of

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How to get your views on open banking heard in Ottawa

July 3, 2019 by Greg Meckbach

If open banking is on your radar screen, Senator Colin Deacon would like to hear from you. “I would love to have a conversation within [the property and casualty insurance] sector to talk with your sector leaders at some point,