Tech
Magna International Inc. unveiled on Wednesday an autonomous vehicle platform it says “can be integrated into any vehicle without compromise to vehicle design and styling.” MAX4 is a fully integrated, customizable and scalable autonomous driving sensing and compute platform that can enable up to Level 4 autonomous driving capabilities in both urban and highway environments, Magna said in a press release on Wednesday. The SAE (Society of Automotive Engineers) International defines Level 4 as “high automation,” where the automated driving system performs all…
By Canadian Underwriter | August 31, 2017
3 min read
Legal / Regulation
Technological innovation is not among the goals of some government regulators overseeing insurance markets, but some can be persuaded to allow innovation if a determined insurance provider presents “a good case study,” speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We as insurers have hidden behind the regulators for a long time and have said, ‘Gosh, I would love to do that but I won’t be allowed to,” said David Crozier, president and chief executive officer of Everest Insurance Company of Canada. “We…
By Jason Contant | August 30, 2017
Organizations can be the driving force behind innovation that transforms their operations and helps them better serve customers, but those advances will increasingly rely on having a store of good data available, it was suggested Tuesday during the 5th Annual Insurance-Canada.ca Executive Forum in downtown Toronto. “You don’t have to abdicate your responsibilities to the […]
By Angela Stelmakowich | August 30, 2017
4 min read
Chubb announced on Wednesday that it has broadened its enterprise risk management solutions for Chubb commercial cyber policyholders in the United States and Canada. Two new policy forms, Cyber Enterprise Risk Management and DigiTech Enterprise Risk Management, combine cyber insurance with extensive loss mitigation and incident response services, gives organizations across all industries and sizes […]
By Canadian Underwriter | August 30, 2017
There is a “convergence” of attitudes towards technology across all age groups and insurance providers need to question their assumptions about buying habits of different demographic groups, speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We want to make sure we are checking our assumptions about demographics and that makes it particularly challenging with marketing,” […]
By Jason Contant | August 29, 2017
Operations
MONTREAL – Airbnb and the province of Quebec have announced what is being called a first tourist tax agreement on short-term rentals in Canada. Quebec Tourism Minister Julie Boulet and officials with the Canadian arm of the home-sharing platform made the agreement official today. Beginning Oct. 1, Airbnb will automatically collect and remit a 3.5 […]
By The Canadian Press | August 29, 2017
1 min read
HR
Augmented and virtual reality each boast considerable potential for impact within the insurance industry, with implications spanning risk mitigation, improved efficiency and loss ratios and enhanced customer service, Novarica said in a new executive brief. While their effect will be most impactful over time, augmented reality (AR) and virtual reality (VR) each have potential for […]
By Canadian Underwriter | August 29, 2017
2 min read
Some operators of Canadian oil and gas upgraders and refiners are delaying scheduled maintenance due to budget cuts and there is a heightened risk of equipment failure, especially with valves and pumps, Ernst & Young LLP suggested in a recent report. EY conducted a market study of the Canadian downstream energy sector, asking questions of […]
By Canadian Underwriter | August 28, 2017
Research and advisory company Gartner, Inc. is forecasting that 310.4 million wearable devices will be sold in 2017, a 16.7% increase from last year. Sales of wearable devices – including smartwatches, fitness trackers and other smart devices – will generate revenue of US$30.5 billion this year; of that, US$9.3 billion will be from smartwatches, Gartner […]
An online survey from research and advisory company Gartner, Inc. has found that 55% of polled respondents “will not consider riding in a fully autonomous vehicle.” The Gartner Consumer Trends in Automotive survey polled 1,519 people in the United States and Germany. It found that while 55% of respondents will not consider riding in a […]
By Canadian Underwriter | August 27, 2017
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