Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
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,…
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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…
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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 […]
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If you are an insurer, ask yourself this question: Are your customers sharing data with you? (If you aren’t you probably are customer of insurance, so just ask it the other way around.) Most likely, the answer is “not if they don’t have to”. Why is that the case? Is it generally privacy concern? Don’t […]
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“Conversation about the weather is the last refuge of the unimaginative.” – Oscar Wilde Clearly, Mr. Wilde – expert as he was at crafting witticisms – never spent any time in an insurance office. Our industry has a longstanding history…
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As far back as 2006 – when presenting the Insurance 2020 study – I tended to hear the question “What if Google did insurance?” Well, Google has been doing insurance for about 2 years in the U.K. now, and very recently announced the big launch Continue reading
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The term “big data” carries much weight today, usually referring to the massive amounts and availability of data for analysis. Big data consists of the growing volume of information from sources such as claims history, industry statistics, telematics devices and,…
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With a little help from Brad Pitt on the way, arguably it was Michael Lewis who first introduced ‘big data’ into the public consciousness with the publication of his book Moneyball more than a decade ago. His account of how a baseball club assembled a competitive and ultimately successful team despite its weak financial situation revealed to a global audience the power of analytical, evidence-based metric approaches in developing winning strategies.
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Each year, EY publishes our Canadian property and casualty insurance outlook, where we take the pulse of the industry and note what challenges – and opportunities – are in store for the year ahead. It’s fair to say the industry…
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