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Embracing artificial intelligence is crucial for industry

By Kate McCaffery | April 18, 2024, 10:34 a.m.

Photo: Adobe Stock

Lack of “data mastery,” can hurt property and casualty insurers’ core business, says new report.

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Headlines

National pharmacare: little consideration for insurers' contributions

Global insured catastrophe losses expected to grow

Beneva’s profits up 149 per cent in 2023

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Flash

National pharmacare: little consideration for insurers' contributions

Canada’s risk aversion causing country’s innovation paradox

Alberta opens consultation on auto insurance reform

Pension plans ramp up risk reduction transactions

P&C Insurance

Beneva’s profits up 149 per cent in 2023

Fallout of a cyber catastrophe modelled by reinsurer

Inactive agent with an active license fined for not maintaining liability insurance

Supervisors fined when licensee leaves client uninsured for months

Business insurance

Casualty rates excluding auto liability decline at the start of 2024

Insurer divests U.S. business to focus on Canada

BrokerLink closes three transactions

It was appropriate to move forward the purchase of ICPEI, says Valérie Lavoie

Cyberrisks

Report examines barriers to digital adoption

Cyber the largest structural risk affecting the credit landscape

Geneva Association examines cyber insurability challenge in new report

Ontario regulator publishes technology risk management guidance

CAPGEMINI

Insurance growth expected to accelerate slightly

Insurance poised for significant growth... among the wealthiest

Capgemini says insurers largely unprepared for coming wealth transfer to beneficiaries

Capgemini publishes annual analysis of technology trends impacting insurance

Special risks

Global insured catastrophe losses expected to grow

Canadian after-tax incomes decreased in 2022

Nova Scotia adopts association’s short and long-term disability templates

Average fund fees declined following implementation of disclosure rule amendments

Technology

Direct simplified issue offerings benefit advisors eventually

Race to insure electric vehicles could change the industry

A veteran of the Client Management Software industry returns

Insurers warned that technology experimentation is needed to reap benefits

Cyberrisks

Pension funding rises in March

Generative artificial intelligence expected to increase small-scale cyber attacks

Valid accounts are the weapon of choice for cybercriminals

Regulator publishes Ransomware Response Playbook for member firms

Analytic

Close to one-in-ten seniors worked out of necessity in 2022

Wholesalers have growth ambitions

Income inequality gap widens in 2023

Your client’s concerns in 2024

Artificial intelligence

Executives think generative artificial intelligence will deliver gains over 30 per cent

ChatGPT expected to have a positive impact on advisor productivity

How insurers are investing in artificial intelligence

Individual insurance in 2024: clients demand quicker responses