Tech
Connecting consumers with brokers and insurers through voice technology has already begun, but a new blog from Harvard Business Review is warning companies that their reputation could be at risk. The blog was written for general business audiences, but included an insurance example. It warned that if a company prematurely introduces smart speakers for more […]
By Jason Contant | May 2, 2019
2 min read
It’s hard for an insurance company to price cyber because clients are reluctant to report losses, industry experts suggest. “You need historical incidents to understand the types of events out there,” Scott Stransky, assistant vice president and principal scientist in AIR’s Research and Modeling group, said during an episode of A.M. Best TV published Tuesday. […]
By Greg Meckbach | May 1, 2019
TORONTO – Canada’s biggest banks marked the official launch of the Verified.Me digital identity network on Wednesday, following years of development and testing with their partner SecureKey Technologies Inc. The banks see Verified.Me as the beginning of a more secure Canadian identity ecosystem for a world where technology is making it easier for criminals to […]
What’s one easy piece of advice you can provide to your clients to help protect them from cyber-attacks? Change your passwords. Nearly one-third (30%) of people in Canada and the United States use the same passwords for all or most of their online accounts, potentially leaving them more vulnerable to cyber attacks. That was one […]
By Jason Contant | April 30, 2019
3 min read
Cyber attacks and data breaches are the Number 1 threat to businesses in North America, according to Aon plc’s newly released 2019 Global Risk Management Survey. Aon surveys thousands of risk managers across 60 countries and 33 industries every two years to identify key risks and challenges their organizations are facing. Cyber attacks/data breach topped […]
By Jason Contant | April 29, 2019
A priest or minister could help your client manage cyber risk, and it’s not by praying that cyber criminals will leave your client alone. “My latest three hires have been a theologian, a political scientist and somebody who has their degree in social justice,” said Rob Labbé, director of information security for Vancouver-based mining firm […]
By Greg Meckbach | April 29, 2019
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 builds a layer in between systems of engagement and systems of record. Systems of engagement […]
By Jason Contant | April 26, 2019
Operations
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 the United Conservative Party,” IBC CEO Don Forgeron said during IBC’s annual general meeting Thursday. […]
By Greg Meckbach | April 26, 2019
Insurance risk categories in the future will become so small they will become very difficult to price properly, a speaker predicted earlier this month at the CIP Society Symposium in Toronto. The number of distinct risk transfer categories appears to be trending upwards exponentially, said Alex Daskalov, co-founder of Montreal-based KNØX, a company creating an […]
By Jason Contant | April 25, 2019
Looking to work for brokerages in the highest-paying regions of the country? Check out brokerages in either Alberta or Ontario, according to numbers contained in a recent Deloitte study commissioned by the Insurance Brokers Association of Canada (IBAC). At $70,800 a year, brokerage employees in Alberta made the highest average annual wage in the country’s […]
By David Gambrill | April 25, 2019
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