Tech
Worldwide revenues for security-related hardware, software and services will grow from US$73.7 billion in 2016 to US$101.6 billion in 2020, according to the International Data Corporation’s (IDC) first Worldwide Semiannual Security Spending Guide. The report, released on Wednesday, said that the change in revenues represents a compound annual growth rate (CAGR) of 8.3%, more than […]
By Canadian Underwriter | October 13, 2016
3 min read
Autonomous vehicle technology company Nauto announced on Friday that it has entered into strategic agreements with BMW i Ventures, the Toyota Research Institute and Allianz Ventures, part of global financial services provider and insurance company Allianz Group. These companies have invested in the tech firm and are working with the company on autonomous vehicle development […]
By Canadian Underwriter | October 11, 2016
4 min read
Lower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini Consulting contends. “Our study confirms that smart contract adoption will lead to reduced risks, lower […]
By Angela Stelmakowich | October 11, 2016
5 min read
Four in five risk managers surveyed said their company has a stand-alone cyber insurance policy, though only three in four reported their policy covers network/business interruption, Risk and Insurance Management Society Inc. said in the 2016 RIMS Cyber Survey, released Monday. There were 272 respondents to the survey, which was distributed to RIMS members via […]
HR
Nearly four in five (78% of) global businesses believe that digital start-ups pose a threat to their organization, either now or in the future, and almost half (45%) surveyed fear that they may become obsolete in the next three to five years due to competition from digital start-ups, according to new research from Dell Technologies. […]
By Canadian Underwriter | October 7, 2016
Legal / Regulation
Advances in wood engineered products and fabrication have made the idea of constructing timber tall buildings feasible and a genuine alternative to concrete, Eric Karsh, principal of Equilibrium Consulting Inc., suggested Thursday during the 43rd Annual Engineering Insurance Conference in downtown Toronto. Karsh cited a study Equilibrium Consulting recently did for a client, in which […]
By Angela Stelmakowich | October 7, 2016
Insurers in the United States could only answer 28% of queries across digital channels and 14% of companies failed to respond successfully on either email, social media or chat, according to new research from multichannel customer engagement software provider Eptica. “Despite the growth of digital channels, insurers seem to be stuck in an analog world, […]
By Canadian Underwriter | October 6, 2016
The use of comparison sites to buy auto and home insurance is developing rapidly, but continues to trail in Canada and the United States relative to the United Kingdom and continental Europe, according to new consumer research from Finaccord. On Thursday, the market research, publishing and consulting company specializing in financial services released Aggregation Metrics: […]
Turning Insurance Outside-In was the theme of the fourth annual Executive Forum in Toronto. Speakers touted the benefits of creating a digital experience in multiples channels.
By Angela Stelmakowich, Editor and Greg Meckbach, Associate Editor | October 5, 2016
9 min read
Slice Labs Inc. announced Wednesday the launch of a private beta in which commercial insurance is being offered to hosts in Iowa who rent their homes. “The first product applies to homeshare hosts renting their homes on various homeshare platforms,” Slice stated in a release. It is intended for people who rent property using services […]
By Canadian Underwriter | October 5, 2016
1 min read
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