HR
Despite popular stereotypes, women are not better multi-taskers than men, suggests a new blog from Harvard Business Review. “We cannot exclude the possibility that there are no sex differences in serial multitasking abilities, but if they exist, such differences are likely to be very small,” wrote authors Julien Laloyaux, Frank Laroi and Marco Hirnstein in […]
By Jason Contant | September 26, 2018
2 min read
Operations
While brokers communicate with clients for a variety of reasons, such as renewals and claims, “shooting the breeze” can be just as beneficial for the business, suggests a speaker scheduled to address next month’s Insurance Brokers Association of Ontario annual convention. “Touch base just for the hell of it,” advises author and speaker Stuart Knight. […]
By Greg Meckbach | September 25, 2018
Tech
Machine learning – which some brokers use to make chatbots – can also help companies improve cyber risk by flagging abnormal activity. Machine learning is a type of artificial intelligence, which mimics human cognition and activities, such as identifying patterns. One application of machine learning is natural language processing, which some brokers are using to […]
MONTREAL – A new report says artificial intelligence deployment has not yet been a “real success” for Canadian companies, in spite of the country’s reputation as an AI hotbed. The study from Forbes Insights ranks Canada last out of 10 countries, with just 31 per cent of adopters of the technology claiming successful AI deployment, […]
By The Canadian Press | September 25, 2018
1 min read
Blockchain for insurance has various oft-touted benefits – reduced costs and simpler and faster transactions, among them – but it can also be used to combat fraud, said David Verbeeten, a domain expert in insurance at software company ConsenSys. Verbeeten works with a team to create decentralized applications for insurance products and services on the […]
By Jason Contant | September 24, 2018
3 min read
Legal / Regulation
Data breaches are all over the news, but convincing some corporate clients to spend in the neighbourhood of $1,000 a year for insurance coverage can be an uphill battle. Some cyber insurance products cost around $100 a year, but those are “very rudimentary,” suggests Ray Arndt, president of Lyon & Butler Insurance Brokers Ltd., based […]
By Greg Meckbach | September 24, 2018
We often hear how the property and casualty insurance industry is slow to adopt technology, but is it possible the industry is actually becoming overly reliant on technology? Yes, said Neil Mitchell, CEO of Player’s Health Cover and former managing director of Marsh Canada. While technology is providing a positive effect, it is also commoditizing […]
By Jason Contant | September 23, 2018
Artificial intelligence could help a brokerage figure out how likely a prospective client is to actually buy insurance. At least that’s what officials with Surex Direct are hoping. Magreth, Alta.-based Surex Direct places home, auto and commercial lines and says it can deliver 10 quotes online in 10 minutes or less. If a person gives […]
By Greg Meckbach | September 20, 2018
A US$6-billion merger between Marsh & McLennan Companies Inc. and Jardine Lloyd Thompson Group Plc could form the world’s largest commercial brokerage, and more mergers and acquisitions among commercial brokerages will likely to follow, a Canadian M&A expert suggests. Marsh & McLennan – Marsh Inc.’s New York City-based parent – announced Tuesday it agreed to […]
By Greg Meckbach | September 19, 2018
Canada’s two largest insurers have plans in place to provide policy documents to consumers in the event of a postal strike. Workers at Canada Post may strike as early as Sept. 26 if their union cannot reach a new contract with the Crown corporation. In the event of a strike or lockout, all mail operations […]
By Jason Contant | September 19, 2018
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