Tech
The federal government is proposing to spend $125 million on a “strategy” for artificial intelligence, to be administered by the Canadian Institute for Advanced Research (CIFAR). “From smartphone applications that can understand human speech to self-driving cars, artificial intelligence is changing the way that people interact with each other and our world,” the ruling Liberals […]
By Canadian Underwriter | March 24, 2017
2 min read
Internal audit departments are starting to embrace data analytics, but many have far to go to achieve their full potential, according to a survey from global consulting firm Protiviti. The Embracing Analytics in Auditing report, released on Monday, involved the participation of more than 900 internal audit professionals to assess data analytics capabilities and practices […]
By Canadian Underwriter | March 22, 2017
3 min read
Checking wait times at driver licensing offices or the status of a claim from the Insurance Corporation of British Columbia (ICBC) can now be done online thanks to new service enhancements. ICBC said in a press release on Wednesday that customers can now look at current wait times at 14 of ICBC’s highest-volume driver licensing […]
While some insurance carriers continue to favour traditional claims processes, the demand for faster cycle times, reduced expenses and improved customer satisfaction is driving increased automation and an eventual migration from virtual to “touchless claims,” according to a new report from LexisNexis Risk Solutions. The Future of Claims 2017 – The “Touchless” Claim study, released […]
Legal / Regulation
Berkshire Hathaway Specialty Insurance (BHSI) has introduced a product designed to address the needs of a variety of enterprises, from systems integrators to telecommunications providers to IT staffing firms. The Professional First Professional Liability and Network Security & Privacy Policy, introduced on Monday, provides coverage for numerous exposures encompassing: third party exposures resulting from security […]
By Canadian Underwriter | March 21, 2017
Desjardins General Insurance Group has announced the cross-country availability of a new home insurance program designed to keep policyholders informed of potential leak sources so that action can be taken and water-related damage prevented. Water damage accounts for more than 50% of home insurance claims, Quebec-based DGIG reports in a statement Tuesday. By acting quickly […]
JERUSALEM – As the world moves toward an era of self-driving cars, Israel is positioning itself to be the Detroit of the future. The country has emerged as a global leader in the fast-growing field of driverless cars, as illustrated by Intel’s more than $15 billion acquisition of Israeli firm Mobileye this week. Israel is […]
By Canadian Underwriter | March 17, 2017
4 min read
The lion’s share of insurance companies taking part in a KPMG International-commissioned survey plan to make acquisitions in 2017, with most respondents saying their companies are being driven by need to transform business and operating models. The insurance sector looks to be shifting deal-making into high gear, KPMG International noted this week, reporting that 84% […]
A new survey out of the United States exploring the sentiments of older drivers 65 and over shows about half of the respondents would not be comfortable riding in an autonomous vehicle, but they see great value in active safety features. “Older drivers are increasingly comfortable with and recognize the benefits of active safety technology, […]
By Canadian Underwriter | March 15, 2017
The largest Canadian platform for insurance reviews has launched independent consumer reviews for mortgage and credit card products, InsurEye announced Wednesday. “Our platform has already been offering nearly 3,000 home, auto and life insurance reviews to inform Canadian consumers about the pros and cons of insurance,” Alexey Saltykov, co-founder and CEO of InsurEye, says in […]
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