How weak insurance sector growth puts technology in the spotlight
January 17, 2019 by Jason ContantExpected 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…
“Mobile-first” insurtech may be coming to Canada
January 16, 2019 by Greg MeckbachA San Francisco-based firm calling itself a “mobile-first” property and casualty insurance brokerage might start placing home and auto coverage in Canada. Canadian Underwriter asked Karn Saroya, CEO of Cover Financial Inc., whether his insurtech plans to expand into Canada.…
Hub’s take on the merger between P&C and employment benefits
January 15, 2019 by Jason ContantAs it continues to expand its employee benefits solutions, Hub International is training its more than 4,000 employees in Canada to articulate that it is not just a property and casualty brokerage. “There’s still a training and development and learning…
Why future AI will involve less data
January 14, 2019 by Jason ContantMachines 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…
These two provinces now have storm surge and overland flood coverage
January 7, 2019 by Jason ContantHomeowners 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,…
2019 Executive Outlook | Colm Holmes, Aviva Canada
January 3, 2019 Canadian UnderwriterCanadian 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…
Recent storm ‘most damaging’ in BC Hydro history
January 2, 2019 THE CANADIAN PRESSVANCOUVER – BC Hydro says December’s massive windstorm was the most damaging in its history and demonstrates improvements are needed in order to be ready for future outages. A report from the Crown corporation says the Dec. 20 storm was…
Failure to describe corruption risk cost this firm $30 million
December 18, 2018 Ian Bickis - THE CANADIAN PRESSTORONTO – Katanga Mining Ltd. will pay $30 million to the Ontario Securities Commission for misleading statements, its failure to properly disclose risks around operating in the Democratic Republic of Congo and its reliance on a controversial billionaire businessman. A…
Flying cars may appear in urban skies by 2023
December 17, 2018 Christopher Reynolds - THE CANADIAN PRESSThe 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…
Focusing on sales may be hindering your social media strategy
December 16, 2018 by David GambrillMost brokers see social media as a way to increase sales and generate leads, according to a new study by Aviva Canada, but social media are more effective for brand awareness, building an online community and retaining customers, according to…
How to go direct-to-consumers without ticking off your brokers
December 14, 2018 by David GambrillAre you an insurance company looking to build up your direct-to-consumer capabilities without alienating the broker channel, on whom you rely for your core business? Here are three tips for you, as outlined by bloggers Ned Calder, Shahriar Parvarandeh and…
How ‘exponential era technologies’ bedevil insurers
December 13, 2018 by Greg MeckbachHow you deal with the always-connected consumer will determine whether an insurtech will eat your lunch, speakers suggested at KPMG Canada’s annual insurance conference. “Digital is oxygen these days. If you are not digitizing your products and your service, you…