Tech
Esurance has announced that it is expanding its online auto and home insurance to Ontario. Esurance – an Allstate company with homeowner and auto insurance available across Alberta, Ontario and the United States – uses “advanced technology to offer an easy online experience and intuitive tools that help take the hassle out of insurance,” the […]
By Canadian Underwriter | September 21, 2017
3 min read
HR
While large financial institutions have made progress applying smart technologies like cloud, biometrics and big data analytics to their risk management functions, two-thirds (66%) of executives say skills deficiencies are impeding the effectiveness of the function as these technologies evolve, a new study from Accenture has found. The Accenture 2017 Global Risk Management Study, released […]
By Canadian Underwriter | September 20, 2017
Deep learning – a variation of machine learning (ML) – will be a “critical driver for best-in-class performance for demand, fraud and failure predictions” by 2019, research and advisory company Gartner, Inc. suggested on Wednesday. Deep learning represents the major driver toward artificial intelligence. As deep learning delivers “superior data fusion capabilities” over other ML […]
WASHINGTON – Design limitations of the Tesla Model S’s Autopilot played a major role in the first known fatal crash of a highway vehicle operating under automated control systems, the National Transportation Safety Board said Tuesday. The board said the direct cause of the crash was an inattentive Tesla driver’s over reliance on technology and […]
By Jason Contant | September 13, 2017
4 min read
Cyber insurance seems like it is poised to go it alone. Growth of the line — currently in the United States and perhaps in future in Canada — is taking shape as a stand-alone offering. What are the benefits of such a move?
By Fred Eslami, Senior Financial Analyst, A.M. Best Company | September 13, 2017
2 min read
About half of polled insurance industry practitioners see the risk of “silent cyber” exposure – potential cyber-related losses due to silent coverage from insurance policies not specifically designed to cover cyber risk – as growing over the coming year, according to a recent survey from Willis Re. The Silent cyber risk outlook poll consisted of […]
By Canadian Underwriter | September 12, 2017
Large and small construction contractors are vulnerable to cyber crime, with “smart” building devices and lucrative engineering drawings in particular presenting vulnerabilities, Northbridge Insurance warns. “Major advancements in digital connectivity have left the construction industry particularly vulnerable to cybercrime,” Northbridge said in a recent post on its blog site. “Remotely accessible systems, like Building Information […]
Legal / Regulation
As insurance firms invest in more complex securities, they struggle to manage data and meet regulatory reporting requirements, a newly released study has found. Addressing local regulation and accounting standards is the leading operational challenge when it comes to firms’ expansion strategies, according to the survey, titled 2017 Insurance Asset Management Technology Outlook and released […]
By Canadian Underwriter | September 11, 2017
Computer algorithms developed by engineering researchers at the University of Waterloo (UoW) in Ontario can accurately determine when drivers are texting or engaged in other distracting activities, the university reported on Friday. The system uses cameras and artificial intelligence (AI) to detect hand movements that deviate from normal driving behaviour and grades or classifies them […]
The Transportation Safety Board of Canada said Thursday it is recommending that stall warning systems be mandated for all de Havilland DHC-2 single-engine Beaver airplanes, a recommendation the Federal Aviation Administration made in 2008 after six tourists died in a floatplane accident in Alaska. TSB – a separate organization from Transport Canada – released Thursday an […]
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