Tech
The global insurance services market is expected to grow at a compound annual growth rate (CAGR) of 4.9% over the next five years due to the increase in the use of the Internet of Things (IoT) and changes in operating models adopted such as the emergence of peer-to-peer and on-demand insurance models, according to a […]
By Canadian Underwriter | February 2, 2017
2 min read
The buzz around blockchain is growing louder. An almost consensus-like agreement that it could benefit the insurance industry, though, must be balanced by what can only be described as an incomplete understanding of its workings and potential. That said, understanding is growing in step with an apparent openness to partner and explore.
By Angela Stelmakowich, Editor | February 1, 2017
10 min read
HR
Canada’s property & casualty industry will celebrate National Education Month in February, showcasing the education and professional development of insurance professionals across the country. The Insurance Institute of Canada (IIC) has expanded its annual National Education Week to a month this year to accommodate the many events promoting the relevance and value of a p&c […]
By Canadian Underwriter | February 1, 2017
Global connectedness means companies, including those in Canada, need a robust data recovery plan to protect data critical to their business operations. Still, many companies do not even have such plans in place.
By Daren Hanson, Vice President, Sales and Business Development, TeraGo | February 1, 2017
6 min read
Mainframes have proved essential over the decades for insurers needing to run core applications. But are these once-reliable units becoming a hindrance to innovation? Is modernization of mainframes essential for the global insurance industry?
By Satya Sarangi, President and Chief Executive Officer, TmaxSoft Canada | February 1, 2017
5 min read
Although the claims world can be “very insular,” there are efforts underway to understand how the industry fits into the “greater whole,” Joe Fidilio, vice president of financial lines claims with AIG Canada, said during a recent industry event. Speaking at the Canadian Insurance Claims Managers Association/Canadian Independent Adjusters’ Association’s Ontario Chapters’ 50th Annual Joint […]
By Jason Contant | January 31, 2017
3 min read
The claims industry is doing a much better job of developing leaders and creating succession plans than it has in the past, Phil Cook, CEO of Omega Insurance Holdings Inc., said during the CICMA/CIAA Ontario Chapters’ 50th Annual Joint Conference on Monday. Cook was one speaker on a panel sharing tips and strategies for effective […]
By Jason Contant | January 30, 2017
Legal / Regulation
The Canadian collision industry will be “ripped apart beyond belief” in a decade by several disruptors, including connected autonomous vehicles and ridesharing, a speaker suggested Friday at the Canadian Collision Industry Forum (CCIF) meeting in Vaughan, Ont. Andrew King, managing partner at Desrosiers Automotive Consultants Inc., discussed “soft” and “hard” disruptors during a session titled […]
By Jason Contant | January 27, 2017
The Transportation Safety Board of Canada reiterated Wednesday its recommendation for “additional physical defenses” on railways in case crews fail to obey signals. On Sept. 6, 2015, a Canadian Pacific freight train enroute from Revelstoke, B.C. to Saskatchewan hit a westbound freight train near Beavermouth, B.C. TSB reported that no one was injured. The westbound […]
By Canadian Underwriter | January 26, 2017
Beazley, a provider of data breach response insurance, said in a report on Thursday that ransomware attacks quadrupled in 2016 and they are projected to double again in 2017. Beazley released its Beazley Breach Insights – January 2017 findings based on its response to client data breaches in 2016. The specialized Beazley Breach Response (BBR) […]
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