5 Benefits of Security Ratings for Insurance Underwriting

PHOEBE FASULO | September 19, 2019

article image
Many underwriters today offer cyber insurance, designed to protect businesses from the effects of cyberattacks and data breaches. Cyber insurance is a relatively new area, and underwriters are always looking for ways to better understand cyber risk. The goal, as with all types of insurance, is to make more informed decisions and reduce the overall risk in their portfolios.

Spotlight

Edge Mutual Insurance Company

Based in the small town of Drayton, Edge Mutual Insurance Company has roots that date back to 1887 when the company was formed by farmers in Peel and Maryborough Townships. Back then, the goal was to provide insurance protection to area farmers from the threat of fire. More importantly, as a mutual company owned and directed by the policyholders, area farmers could acquire the fire insurance at a reasonable price from people they knew and trusted - their own neighbours.

OTHER ARTICLES

5 Deep Learning Use Cases for the Insurance Industry

Article | February 11, 2020

In 2010, with the launch of the Image Net Competition, a vast dataset of about 14 million labeled images was made open-source to inspire the development of cutting-edge image classifiers. This was when Deep Learning technology got it’s a real breakthrough and since then there’s been no looking back for advancements in this field.

Read More

How chatbots are driving insurtech

Article | March 10, 2020

The first chatbot, called ELIZA, was built in 1966 by MIT professor Joseph Weizenbaum. It used a pattern matching system to simulate a human conversation and gave a series of scripted responses designed to have it play the role of a therapist. Today, chatbot technology is a vital part of the way that companies across a myriad of sectors interact with their customers, with applications covering everything from content delivery to conversational ecommerce. By 2025, the global chatbot market is expected to reach $1.25bn.

Read More

Working From Home: What You Need to Know About Insurance Coverage

Article | March 30, 2020

During these unprecedented times, the everyday norm is shifting for most Americans. Commutes have become a simple walk down to the coffee maker instead of the usual 15-30 minute drive from home. With much of the workforce working remotely, likely from a home office, it is important that you are protected from further unexpected exposures. Most homeowner and renters insurance policies limit coverage, so discussing business exposures with your agent to ensure proper coverage is in place is a must.

Read More

How Will COVID-19 Affect Insurtech

Article | April 13, 2020

It is common knowledge that there is virtually no industry that has been immune to the effects of COVID-19. The global pandemic has caused massive shifts in individual and industrial behavior and will continue to do so in the months, if not years, to come. The P&C industry, like many others, is reeling from the effects of the virus. Amidst all these events, it is important to assess how the insurtech industry is going to be affected by COVID-19.

Read More

Spotlight

Edge Mutual Insurance Company

Based in the small town of Drayton, Edge Mutual Insurance Company has roots that date back to 1887 when the company was formed by farmers in Peel and Maryborough Townships. Back then, the goal was to provide insurance protection to area farmers from the threat of fire. More importantly, as a mutual company owned and directed by the policyholders, area farmers could acquire the fire insurance at a reasonable price from people they knew and trusted - their own neighbours.

Events