How cyber insurance is moving faster, scaling up, and preparing for unknown risks — By Austin Aten, Head of Cyber Pricing, Coalition Inc. — When cyber insurance was first introduced almost 30 years ago, the cyber threat landscape looked much different. We were far less reliant on digital technology and data, it was much more... Read more » The post AI and the Future of Actuarial Science appeared first on Insurance-Canada.ca ..read more

By Stephen Applebaum and Alan Demers — The insurance industry is at a crossroads. Brewing negative consumer sentiment toward insurance affordability and premium fairness is spilling over as profitability struggles threaten markets. As the industry takes needed action, the approach itself comes into question. Insurers find it difficult to inform and educate a customer base... Read more » The post Trust, Personalization and Transparency: Foundational for Premium Accuracy appeared first on Insurance-Canada.ca ..read more

By Joseph D’Souza, Founder & CEO, ProNavigator — I have a 10-year-old son who likes to take pictures when he gets access to a phone. It’s cute to watch him taking pictures. It’s not so cute when he holds the shutter button down and I find 50 little near-identical images of his thumb. Okay, well,... Read more » The post Drowning in Duplicated Docs: Which Version Is the Correct One? appeared first on Insurance-Canada.ca ..read more

By Stephen Applebaum and Alan Demers — The expression “Mind the gap” dates to the 1960s when it was first announced on the London Underground. The purpose was to warn passengers of the potentially dangerous gap between the train door and platform which are not perfectly aligned. It has since evolved to become a general... Read more » The post P&C Insurance: Mind The Gap(s) appeared first on Insurance-Canada.ca ..read more

By Joseph D’Souza, Founder & CEO, ProNavigator — 2020 was a remarkable and noteworthy year in history, especially for businesses and their employees. Many businesses found out that they can remain at near peak productivity with their employees working from home (WFH), while many others found out that they cannot. It also added wrinkles to... Read more » The post Knowledge on Mute: How WFH Makes Your Company Forget What It Knows appeared first on Insurance-Canada.ca ..read more

By Hanna Beydoun, Policy Manager, IBC — In Canada, a vehicle is stolen every five minutes. This national crisis is disrupting the lives of Canadians and causing significant distress and financial strain. From 2018 to 2023, auto theft losses surged over 254%, surpassing $1.5 billion in direct claims costs for private passenger vehicles. Ontario has... Read more » The post Combatting Canada’s Auto Theft Crisis: Tackling ReVINing appeared first on Insurance-Canada.ca ..read more

By Joseph D’Souza, Founder & CEO, ProNavigator — At the end of the 20th century, as web technologies began to go mainstream, the term “information superhighway” was coined to describe how the piping infrastructure of the internet would allow information to travel frictionless from portals to users and back to portals. As internet adoption exploded,... Read more » The post There Is Just Too Much Insurance Knowledge Out There appeared first on Insurance-Canada.ca ..read more

Whether generative AI is your wildest dream or your worst nightmare depends on how your organization reacts today and prepares for tomorrow — By Christian Bieck, IBM Institute for Business Value, et al — Generative AI has the potential to shake up the way your business has always worked, driving unprecedented productivity and revealing new... Read more » The post Six Hard Truths CEOs Must Face In The GenAI Era appeared first on Insurance-Canada.ca ..read more

Mark Breading, Senior Partner of Transformation Services at ReSource Pro, discusses the evolving landscape of the P&C insurance industry in a Coffee Talk session with ACN’s Brian Langerman — Mark outlined six major trends in the P&C insurance industry, and addressed topics like the impact of AI on agents, the evolving mobility space, and cyber... Read more » The post Navigating Technology Transformation In Insurance appeared first on Insurance-Canada.ca ..read more

By Stephen Applebaum and Alan Demers — It is a well-known adage that ‘trust takes years to build, seconds to break, and forever to repair.’ The extensive and growing loss of trust in our most treasured institutions is responsible for the recent and rapid transformation of behavior and attitudes across the entire landscape. Trust is... Read more » The post Broken Trust – Insurance Industry Included appeared first on Insurance-Canada.ca ..read more