Tech
DrivSafe, a Boston, Mass.-based mobile telematics solutions company that specializes in telematics and analytics for the auto insurance industry, has announced the launch of its mobile app in Canada. The DrivSafe app helps auto insurance companies evaluate the driving habits of their policyholders and offer discounts to good drivers, the company explained in a press […]
By Canadian Underwriter | March 7, 2017
2 min read
Autonomous vehicles are revving up, with Bain & Company Inc. forecasting annual growth of 12% to 14% for the global market of autonomous and assistive safety and comfort features by 2025. That translates to a global B2B market of US$22 billion to US$26 billion annually by 2025, notes new research released Monday by Bain & […]
3 min read
Cyber security is more of a human resources issue than a technological issue, while cyber security threats are often detected more than six months after they occur, speakers told insurance professionals at a conference last week. “The nature of IT and the changes in facing in terms of technology, we are going to have an […]
By Greg Meckbach | March 6, 2017
HR
Brokers could provide added value to their customers by suggesting offers that that help save money on home and auto insurance, attendees to the Insurance-Canada.ca Broker Forum (ICBF) heard last week. “Fully 50 to 60% of your customers are saying, ‘this is of interest to me,’” Bill Morris, senior partner with Markham, Ont.-based Navicom Inc. […]
By Jason Contant | March 6, 2017
Slower consumer spending on big-ticket insurable items, as well as an aging population, will weigh on the outlook for Canadian insurance firms, according the Conference Board of Canada’s first outlook for the insurance industry. Canadian Industrial Outlook: Insurance – Winter 2017 found that overall, Canada’s insurance industry is forecast to grow by an average of […]
By Canadian Underwriter | March 6, 2017
Bodily injury and property damage exclusions in cyber insurance policies means the Internet of Things has “big implications” for organizations, while malware that existed unbeknownst to a user before binding a policy can mean a cyber incident is not covered, speakers suggested at a conference Friday. “What makes a great risk for a 10,000 employee […]
By Jason Contant | March 3, 2017
4 min read
Learning is a life-long process and not just for humans – online chatbots can also continue to learn and become smarter, attendees to the Insurance-Canada.ca Broker Forum (ICBF) heard on Wednesday. Amanda Ketelaars, operations manager with Whitby, Ont.-based Mitchell & Whale Insurance Brokers shared her brokerage’s experience with their chatbot at the ICBF, held at […]
There will be a “tipping point very shortly” involving connected things, a speaker suggested on Wednesday at the Insurance-Canada.ca Broker Forum. Ryan Spinner, head of innovation with Aviva Canada, was speaking during a panel discussion titled Distribution in the InsurTech Age at the broker forum, held at the Allstream Centre in Toronto and moderated by […]
By Jason Contant | March 2, 2017
Economical Insurance’s recently-launched direct writer, Sonnet, is one example of “disruptive innovation” in the Canadian industry, a speaker told insurance professionals at a recent conference, though a senior executive of Economical suggested there is a “significant segment” of the market that will “continue to value” the advice that brokers provide. There are “two different approaches” […]
By Canadian Underwriter | March 2, 2017
If an insurer can offer brokers more products, assistance and their brand is recognized by clients, “there is some value there,” Jeff Roy, CEO of Excalibur Insurance Group, suggested on Wednesday at the Insurance-Canada.ca Broker Forum, held at the Allstream Centre in Toronto. Roy was discussing the contentious decision in late January in which the […]
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