Tech
Applied Systems announced Tuesday it has acquired Policy Works, a major platform for commercial lines business in Canada. The acquisition will extend Applied’s position within the commercial lines market segment, driving greater connectivity and automation for commercial lines brokerages and insurers in the Canadian marketplace, Applied said in a press release. “As Canada’s leading provider […]
By Jason Contant | October 15, 2019
2 min read
Carriers have made significant strides in ridding their systems of nefarious Z-codes. Here’s an update on their mop-up operations….
By Monica Hanna, Business Solutions Delivery Lead, CSIO | October 11, 2019
4 min read
What are some of the best practices in mergers and acquisitions (M&A)? David Hunt, senior director of mergers and acquisitions at Willis Towers Watson, said in a recent blog that newcomers can learn from the best serial acquirers. While not specific to insurance, there are five key takeaways from top-tier deal-makers that could be applied […]
By Jason Contant | October 10, 2019
3 min read
Operations
Motorists in Manitoba should be able to get online insurance services – such as change of address – but brokers should have some involvement in these processes, an official with the province’s brokers’ association told Canadian Underwriter Wednesday. “We are exploring the possibility of going online,” Manitoba Public Insurance (MPI) spokesperson Brian Smiley said Wednesday […]
By Greg Meckbach | October 9, 2019
How long will it be before brokers’ and insurers’ systems are able to connect efficiently? “This is still a two- to three-year journey for the industry to have really-slick, direct connectivity,” predicts Jason Storah, CEO of Aviva Canada. Storah spoke with Canadian Underwriter Friday about a variety of topics, including broker-insurer connectivity. He was asked […]
By Jason Contant | October 8, 2019
Brokers can set themselves apart by starting a conversation with clients around a relatively new type of coverage: intellectual property (IP) insurance, a specialist insurer told Canadian Underwriter recently. CFC Underwriting said it is seeing more interest in this type of insurance, which covers things like: “I think if brokers are interested in emerging risks, […]
By Jason Contant | October 4, 2019
It can be enticing to jump on board as soon as you hear about the latest and greatest doodad to help your business. But getting distracted by the promises of every insurtech option is something one broker tries to avoid. Instead, Joanna Mendonca prefers the wait-and-see approach. “I think we guard against what we would […]
By Adam Malik | September 30, 2019
Legal / Regulation
Artificial intelligence may be able to help auto insurers convince regulators to relax certain prohibitions on rate restrictions, the founder of an A.I. vendor suggests. In Ontario, insurers are prohibited from using several factors – such as certain at-fault accidents, credit history or how long the client has lived in their current home. The client’s […]
By Greg Meckbach | September 27, 2019
Insurers should consider self-regulating machine learning practices before regulations are imposed on them, a speaker suggested last week at the Connected Insurance Canada conference in Toronto. Moderator Stephen Applebaum, principal at Insurance Solutions Group, asked panelists if regulators understand machine learning and their perspectives on using machine learning in insurance, particularly since it’s difficult to […]
By Jason Contant | September 18, 2019
Financial institutions looking to adopt and develop best practices on the responsible use of artificial intelligence (AI) should focus on three areas: explainability, bias and diversity, experts say. A new TD Bank Group survey of 1,200 Canadians found that a majority of Canadians (72%) are comfortable with companies using AI if it means they’ll receive […]
By Jason Contant | September 17, 2019
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
