Tech
Some brokers and carriers are spending too much time and effort dealing with incoming paper, a former auto underwriter says. While technology advancements mean more forms can be entered electronically through web and mobile apps, brokers nonetheless have data coming to them on snail mail and email attachments, suggested Jeff Hiegert, senior customer advisor for […]
By Greg Meckbach | June 10, 2019
3 min read
How far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There is also sometimes the need for insurers to address “non-traditional” cyber exposures, making standardization more […]
By Jason Contant | June 10, 2019
One insurtech based in the United States is pre-filling data in home insurance application forms to help answer questions that customers may not be able to answer themselves. California-based home insurance company Hippo Insurance uses trusted public data sources like Zillow to pre-fill data and help minimize the 50-150 questions in the standard U.S. home […]
By Jason Contant | June 6, 2019
Legal / Regulation
To get the best out of your collaboration efforts, get outside of your comfort zone. The best companies understand the value of collaboration, said Sven Roehl, co-founder of Cookhouse Lab, an insurtech innovation firm. But they also understand they need to go beyond their inner circle of trusted friends. “What they’re now doing more than […]
By Adam Malik | May 31, 2019
Do your workers spend hours typing information from paper forms into the computer? There are ways of automating this. “Nowadays, you probably have documents coming in and you put them on the scanner. When you are going to put them into whatever system, you want to be looking for the system to have some ability […]
By Greg Meckbach | May 30, 2019
If you are led to believe most of your clients will get around in self-driving cars within a decade, you might want to think again. “Autonomous vehicles will likely not be on our roads for at least another 25-30 years, and that is a conservative estimate,” said Kristine D’Arbelles, senior manager of public affairs for […]
By Greg Meckbach | May 29, 2019
Not only is the frequency of ransomware attacks skyrocketing, attackers are targeting larger organizations and demanding higher ransom payments. Specialist insurer Beazley released its Beazley Breach Insights report for May last week, finding that ransomware attack notifications against clients increased 105% in the first quarter of 2019 compared to one year earlier. There was also […]
By Jason Contant | May 29, 2019
2 min read
Brokers advising their clients on cyber security will want to take note of new research that identified nearly 100 malicious email campaigns that were specifically targeted at Canadian organizations or were customized for Canadian audiences. “Much of this is due to Emotet,” said a blog Thursday from cyber security company Proofpoint, referring to a type […]
By Jason Contant | May 27, 2019
Operations
While online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote tailored to their client’s unique risk profile, as well as coverage variations most commonly requested […]
By Jason Contant | May 23, 2019
The controversy over telecommunications equipment from Chinese manufacturer Huawei is just the tip of a large cyber risk iceberg, an Internet security expert warns. “The question is, should we trust the country in which the company whose products and services you are using resides in?” said Bruce Schneier, a special advisor to IBM Security, during […]
By Greg Meckbach | May 22, 2019
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