Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
The immediate and direct effect of Covid-19 on the insurance industry is obvious and broad reaching. For many reasons, insurers must consider their ability to operate during the pandemic as an indication of their preparedness for the future. From claims…
Read more →
Why Insurance Needs to Innovate Late last year AM Best released their new methodology and criteria on scoring and assessing innovation. “Innovation is becoming increasingly critical to the long-term success of all insurers. With innovation, companies can develop sustainable competitive…
Read more →
Lately, we have all been hearing and reading a lot about InsureTech. Frankly, I have to admit that I don’t exactly understand what the term means. What I do understand is that underwriters, brokers and direct writers have invested millions…
Read more →
Gartner’s 2018 Magic Quadrant for Integrated Risk Management positions LogicManager highest for ability to execute and identifies a shift in focus by end-user organizations from compliance-based GRC to IRM solutions. The Gartner report states that “IRM goes beyond traditional, compliance-driven…
Read more →
In late September, Facebook announced that it had discovered a breach in its network that had exposed the personal data of nearly 50 million users to hackers. The hackers exploited a feature in Facebook’s code to gain access to user accounts,…
Read more →
The volume and complexity of the data companies collect is increasing exponentially, which creates major challenges for audit professionals. When we surveyed hundreds of risk professionals, a staggering 72% considered their company to be most vulnerable in cybersecurity. So, it’s no surprise…
Read more →
In a recent online article, Canadian Underwriter magazine asked the question, Is the sun setting on auto insurance in Canada? In my view, it may be late afternoon for the automobile insurance market, but I think it will be a…
Read more →
In a recent article, Traci Boland, chair of the Insurance Brokers Association of Ontario, commented that ‘the sophistication of technology for rating overland flood could conceivably lead to smaller insurers ending up with a disproportionate share of flood risks’. As…
Read more →
On Sunday April 1, Retail group Hudson’s Bay disclosed that it was the victim of a security breach that compromised data on payment cards used at Saks Fifth Avenue and Lord & Taylor stores in North America. As many as…
Read more →
The ubiquity of the internet and the ease of access thereto has given consumers more informed buying power and instantaneous ability to satisfy their requirements for goods and services. Organizations that can meet and likely exceed consumer expectations will dominate…
Read more →
We live in an age of ‘Big Data’. And while it seems to me that the actual term is being used less and less these days (indicating, perhaps, that the concept has become mainstreamed), the overall notion is alive and…
Read more →
How often have you heard the thought leaders claiming “this time it is different – this time, the insurance industry is REALLY being disrupted.” The latest chapter is the insurtech business – flexible, young startups, using innovative technologies and cool new gadgets. They often find and exploit inefficiencies in the insurance value chain, and their […]
Read more →
Not everyone has embraced telematics. It was reported the other day that at least one insurer has been told by its brokerage force that their customers are ‘not fans of telematics’. Carol Jardine, chief strategy office for Wawanesa, is quoted…
Read more →
The insurance industry is pouring billions of dollars into disruptive InsurTech development in the hopes of meeting rapidly changing customer expectations that have been moulded by the likes of Amazon, Apple, and Google. And, as these companies continue to change…
Read more →