Tech
Insurers that collect and analyze new data sources – including from sensors – could create direct links with customers, without the need for intermediaries, and promote enhanced personalization, Steve LaValle, a principal at Ernst & Young (EY), suggested during an industry event in Toronto Thursday. “In the past, we’ve been reliant upon brokers,” LaValle told […]
By Angela Stelmakowich | May 13, 2016
4 min read
HR
Insurance agency mergers and acquisitions in Canada and the United States hit an all-time high for the first quarter of the year, with 109 reported transactions in the first three months of 2016, according to OPTIS Partners’ M&A database. The data covers U.S. and Canadian agencies selling primarily property and casualty insurance, agencies selling both […]
By Canadian Underwriter | May 12, 2016
2 min read
The emerging global market for business services using drones is valued at more than US$127 billion, according to a report released earlier this week by PricewaterhouseCoopers (PwC). The “drone revolution” is disrupting industries ranging from agriculture to filmmaking, PwC said in a news release on Monday. According to the PwC report Clarity from above, the […]
By Canadian Underwriter | May 11, 2016
Chris Lay has been appointed president and CEO of insurance broker and risk advisor Marsh Canada, the company announced on Tuesday. Marsh, a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (MMC), said in a press release that Lay (pictured below right) will report to Robert Bentley, president of Marsh US and Canada. Lay succeeds […]
IBM Security has announced that eight universities – including three in Canada – will help train its Watson computer system on the “language of security” as part of a year-long research project. Watson for Cyber Security, a new cloud-based version of the company’s cognitive technology trained on the language of cybersecurity, was announced on Tuesday […]
By Canadian Underwriter | May 10, 2016
Usage-based auto insurance (UBI) is expected to grow to 142 million subscribers globally by 2023, according to a new report from IHS Automotive, a part of IHS, Inc. and a source of information and insight to the global automotive industry. According to the study, titled Auto Tech Report – Usage Based Insurance (UBI) and released […]
By Canadian Underwriter | May 9, 2016
3 min read
Economical Insurance’s new direct channel – part of an updated corporate strategy to position the company as among the top property and casualty insurers in the country – went live Monday morning. Economical Insurance has activated multi-channel distribution with the launch of the direct business, Sonnet Insurance Company. The new digital platform will initially offer […]
By Angela Stelmakowich | May 9, 2016
Arthur J. Gallagher (AJG) has announced the acquisition of B.R. Rhymer Insurance Agencies Ltd., a personal and commercial lines broker located on Pembina Highway in Winnipeg, Manitoba. AJG, the international division of Arthur J. Gallagher & Co. outside of the United States, announced the acquisition on Wednesday. The agreement will see the business, which has […]
By Jason Contant | May 6, 2016
For the first time, Google has announced that it will work directly with an automaker to integrate its self-driving system, including sensors and software, into a passenger vehicle. Earlier this week, Google said that it will integrate its self-driving technology into all-new 2017 Chrysler Pacifica Hybrid minivans to expand its existing self-driving test program. The […]
By Canadian Underwriter | May 6, 2016
Legal / Regulation
Clear determination of responsibility is essential to ensuring effective insurance coverage of driverless vehicles, but the “next 10 years may have less clarity about responsibility than the past 40 or 50 years,” according to a new report released on Thursday by the Insurance Institute of Canada. The report, titled Automated Vehicles: Implications for the Insurance […]
By Canadian Underwriter | May 5, 2016
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