Tech
Three-quarters of polled users of Desjardins General Insurance Group’s (DGIG) Ajusto program for usage-based auto insurance have reported improved driving behaviours. Close to 75% of respondents to an online survey conducted in September said that they had improved their driving by sticking closer to speed limits and by avoiding sharp acceleration, braking and cornering, DGIG […]
By Canadian Underwriter | October 12, 2017
2 min read
Octo Telematics and Willis Towers Watson (WTW) have reached an agreement in which the former will acquire the latter’s usage-based insurance (UBI) assets, setting the stage for the two companies to work together on more auto telematics opportunities. Leveraging Octo’s Next Generation Platform (NGP), the acquisition – which includes WTW’s DriveAbility solution and DriveAbility Marketplace […]
3 min read
Distributed denial of service (DDoS) attacks are on the rise, with about one-third (33%) of polled global organizations facing such an attack in 2017, new research from cybersecurity company Kaspersky Lab has found. The IT Security Risks research is an annual survey conducted by Kaspersky in conjunction with market research company B2B International. In 2017, […]
By Canadian Underwriter | October 11, 2017
The Canadian auto industry overall is seeing no reduction in car accidents and “big cost pressures upward on severity coming from both injuries and the repairs of cars themselves,” a speaker suggested last week at the National Insurance Conference of Canada (NICC). “We see a lot of upward gusts of pressure coming from third-party liability […]
By Jason Contant | October 11, 2017
4 min read
The impact of artificial intelligence on the insurance industry is expected to be transformative. To capitalize on all that this offers — and be able to provide customers what they want and need — stakeholders must deftly negotiate technology, industry politics, talent and culture roadblocks to ensure a successful journey.
By Norman Black, Insurance Industry Principal Consultant, SAS | October 10, 2017
6 min read
Road trauma in Australia and New Zealand could be significantly reduced by the adoption of rapidly developing technologies that change the way drivers use vehicles, new research has found. The report, titled Safety Benefits of Cooperative ITS and Automated Driving, investigated the benefits of key Cooperative Intelligent Transport Systems (C-ITS) and automated driving applications. It […]
By Canadian Underwriter | October 10, 2017
Guidewire Software, Inc.’s planned acquisition of Cyence Inc. will ensure Guidewire clients can access a cloud-based data listening and risk analytics solution to help them manage emerging risks for which long claims histories may not be available. California-based Guidewire Software, which provides software products to p&c insurers, and software firm Cyence have entered into a […]
Will autonomous vehicles change litigation? While the answer to that question is surely “yes,” a deeper dive is needed to fully grasp what related developments could mean for property and casualty insurance. Longer term, a simpler system overall for addressing liability in auto claims is anticipated.
By Peter Vlaar, Associate Lawyer, McCague Borlack LLP | October 6, 2017
New software developed at the University of Waterloo (UWaterloo) in Ontario could make it easier to adopt and trust powerful artificial intelligence (AI) systems that set insurance premiums, generate stock market predictions and assess who qualifies for mortgages, the university said in a press release on Friday. The software is designed to analyze and explain […]
By Canadian Underwriter | October 6, 2017
Blockchain technology – which forms the basis for the Bitcoin cryptocurrency – could enable insurers to collaborate with each other when two share the same customer and enable coverages through “smart contracts,” a speaker suggested Thursday at the annual Insurance Engineering Conference. Bitcoin uses public blockchains, which are “fully decentralized” computer networks in which “anyone […]
By Jason Contant | October 6, 2017
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