Tech
PHOENIX – The human backup driver in an autonomous Uber SUV was streaming the television show “The Voice” and looking downward just before fatally striking a pedestrian in suburban Phoenix, according to a police report. The 300-page report released Thursday night by police in Tempe revealed that driver Rafaela Vasquez had been streaming the musical […]
By Jason Contant | June 22, 2018
4 min read
Operations
Why are brokerages and carriers still heavily reliant on sending out paper cheques, even when most of their clients likely don’t even own cheque books anymore? It all boils down to data. As inefficient and costly as they may be to administer, paper cheques currently have more data points associated with them than electronic fund […]
By David Gambrill | June 22, 2018
3 min read
Alexa, ask Excalibur Insurance for a car insurance quote. That possibility is just around the corner, as Wawanesa Mutual Insurance Company announced Thursday that it had opened an Innovation Outpost lab in Kitchener, Ont. that will connect customers with brokers through voice technology. One of the first projects out of the lab is a new […]
By Jason Contant | June 21, 2018
Hard numbers showing the impact of telematics remain elusive, but Canada’s largest property and casualty insurer says the technology does separate the good risks from the bad. Telematics is a vehicle diagnosis technology that collects data such as distance travelled, where a vehicle was driven, and potentially risky behaviour such as speeding, hard braking and […]
By Greg Meckbach | June 20, 2018
2 min read
Fear of technology is preventing many brokerages from reaching their strategic objectives, a digital broker said last week at Gore Mutual’s Fast Forward event in Toronto. And it’s a myth, he added, that only large companies can afford to use the latest tech wizardry. Lance Miller, CEO of digital broker SurexDirect, told delegates Thursday that […]
By Jason Contant | June 20, 2018
Western Financial Group Inc. has acquired its first non-western Canadian brokerage, Axion Insurance Services Inc. Completed on June 19, the deal will allow Western Financial to add 10 Ontario-based locations and approximately 60 insurance experts to its existing network. Kenny Nicholls, Western’s president and CEO, said in a press release that the company was “excited […]
1 min read
Usage-based insurance has raised the profile of insurers on consumers’ electronic devices, and this could be bad news for some brokers. Several auto insurers are using UBI to offer discounts based on data gather from telematics. That technology lets insurers gather data from the insured vehicles, such as distance, location, speed, sudden acceleration and hard […]
By Greg Meckbach | June 19, 2018
Legal / Regulation
The insurance industry is at risk if regulators don’t recognize that consumer expectations are changing and allow consumers the choice of receiving their policy documents electronically, the president and chief executive officer of the Centre for Study of Insurance Operations (CSIO) said last week. Speaking at Gore Mutual’s Fast Forward event in Toronto on Thursday, […]
By Jason Contant | June 19, 2018
MONTREAL – Get ready for the “internet of cows.” Generations of farmers have relied on knowledge and family expertise to grow food, but the sector is set for a surge of disruption at the hands of made-in-Canada artificial intelligence-powered systems. AI is now helping farmers across the country to increase yields, save costs and minimize […]
HR
30 Forensic Engineering’s senior leadership team has acquired the firm, the company formerly known as Giffin Koerth announced Monday. As part of the “evolution and growth strategy of the organization,” founding partner Chris Giffin has agreed to sell his interest in the firm to its management and will be resigning his position as CEO and president, […]
By Jason Contant | June 18, 2018
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