Tech
Opportunities for “broker-driven” usage-based auto insurance are likely to be down the road, but brokers are telling a large Canadian mutual that their insurance customers don’t want their insurers monitoring how they use their vehicles. “Our brokers are advising us that our customers are not fans of telematics,” Wawanesa chief strategy officer Carol Jardine told […]
By Greg Meckbach | December 14, 2017
2 min read
Almost all (99%) of U.S. business professionals surveyed in the third part of Intermedia’s 2017 Data Vulnerability Report admitted to doing at least one potentially dangerous action that increased the likelihood of a workplace data breach. These risky actions included sharing login credentials, storing passwords on computer desktops, sending sensitive or confidential client information to […]
By Canadian Underwriter | December 14, 2017
3 min read
Operations
Brokers who co-own their businesses with family members should consider paying their children and spouses extra dividends before popping the champagne cork this New Year’s Eve. The federal government plans to expand the tax on split income (TOSI), which currently applies to business owners’ minor children, effective Jan. 1. Finance Minister Bill Morneau released Wednesday […]
By Canadian Underwriter | December 13, 2017
Looking to build a new chatbot to connect with your consumers? Chatbots are computer programs that simulate natural conversation with humans. Insurance organizations of all types — insurers, brokerages, and claims operations — have expressed interest in chatbots to provide instantaneous responses to simple inquiries, handing off the conversation to staff to complete a transaction. […]
For all of the discussion about artificial intelligence, big data and the Internet of Things (IoT), in the real world of IT, Canadian property and casualty insurance companies are currently investing in projects that will allow their core legacy technologies to provide more consumer-centric services in the future. “We always look to the future to […]
By Greg Meckbach | December 13, 2017
Aviva Canada will be the official commercial automobile insurance provider for the California-based ride-sharing program Lyft, which is anticipated to start operations in Canada this month. Aviva will cover Lyft through a commercial insurance fleet policy. Coverage and limits vary, depending upon four different phases of the commercial transaction — 1) private use of the […]
Legal / Regulation
Vehicle owners who install smart phone-blocking apps should get a break on insurance rates, some industry groups contend. British Columbia’s government-owned auto insurer says it will roll out telematics devices designed to block drivers from using their wireless phones on a trial basis this coming January. With usage-based insurance, some carriers already provide discounts to […]
By Greg Meckbach | December 11, 2017
Octo Telematics, a global provider of telematics for the auto insurance industry, has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson. Octo’s acquisition includes Willis Towers Watson’s DriveAbility solution and the DriveAbility Marketplace. Geoff Werner will join Octo as global telematics leader, reporting directly to Fabio Sbianchi, CEO of Octo. […]
HR
The challenge for the property and casualty insurance industry in recruiting young engineers is that engineers generally want to make things instead of figuring out why things crashed or burned. “We have had a challenging time servicing our clients in the insurance industry primarily because it’s difficult to find good talent,” Jamie Catania, vice president […]
By Jason Contant | December 8, 2017
Crowdsourcing, as defined by the consulting firm Crowd Sourcing Week, is “is the practice of engaging a ‘crowd’ or group for a common goal — often innovation, problem solving, or efficiency. It is powered by new technologies, social media and web 2.0.” The U.S. insuring giant American International Group Inc. (AIG) extolled the general benefits […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
