Legal / Regulation
Canada’s privacy commissioner is looking to add some bite to the country’s federal privacy laws. And if you need another reason to keep cyber insurance top of mind for your clients, look no further than a recent survey from the Office of the Privacy Commissioner, which found that half of Canadian executives have little or […]
By Jason Contant | June 7, 2018
2 min read
Tech
Canadians are less likely than others around the world to buy insurance products from “BigTech” companies such as Amazon, Facebook and Google. Not that other consumers from around the world are in a big rush to buy their insurance from BigTech. Just one in three global customers said they would be willing to buy insurance […]
By Jason Contant | June 5, 2018
Despite all the hype about artificial intelligence (AI), and the significant investment in it, most global insurers don’t think they are getting value from their investment. In fact, 85 per cent of more than 1,000 global executives polled by McKinsey & Company reported being underwhelmed by the value of AI investments. Nick Milinkovich, leader of […]
3 min read
Operations
Part of travelling is trying everything! New food, new experiences. But when those experiences result in the unexpected, that’s when travel insurance becomes a universal need. Here are two reasons why you should recommend travel insurance to your customers: Should I eat that? The only thing worse than having a bad meal is having a […]
By Baxter Hall | June 5, 2018
Economical Insurance launched its new broker technology, Vyne, in New Brunswick and Prince Edward Island Monday. For use in personal lines and individually rated commercial auto (IRCA), Vyne is a Guidewire-based computer system aimed at streamlining workflows for brokers. The platform, touted as a way to administer insurance policies with less manual intervention, will launch […]
By Jason Contant | June 4, 2018
1 min read
Polls show the Ontario Liberals will not likely govern the province after the election this Thursday but, for what it’s worth, a vote for Liberal candidates is a vote for insurance discounts for motorists who use apps intended to discourage distracted driving. The Liberal party promises that, if re-elected, they would “mandate that insurers offer […]
By Greg Meckbach | June 4, 2018
Cyber bullying, which can result in liability claims under home insurance policies, will soon be grounds for lawsuits in Nova Scotia. The Nova Scotia government is now “on the verge” of bringing Bill 27 into force, law student Brayden McDonald wrote Friday on the CanLII Connects blog site. Bill 27, An Act Respecting the Unauthorized […]
Budget may not be a big concern for larger companies looking to incorporate artificial intelligence (AI) into their operations, but is AI cost-prohibitive for small, local brokerages? “I don’t think you need a massive budget to do some of this stuff,” said Nick Milinkovich, leader with the insurance analytics practice at McKinsey & Company (Canada). Speaking at […]
Customized commercial policies are vital for increasing your standing as a trusted advisor. Here are the hottest areas for going tailor-made.
By David Gambrill, Editor-in-Chief | June 1, 2018
Looking for a hot lead? Why not let a machine do that for you? Brokers and insurance companies can use artificial intelligence (AI) to cull prospects who are showing a keen interest in buying insurance products, Andrew Lo, president and CEO of Kanetix Ltd., said Wednesday at Insurance-Canada.ca’s first Technology in Action seminar in Toronto. […]
By Jason Contant | May 30, 2018
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