Marijuana has been legal or decriminalized in Canada and other jurisdictions in North America for a few years now. There has been some concern that this would lead to increased usage, and consequently a higher level of auto insurance accident claims.
In the second episode of a two-part series, FCIAs Sati MacLean and Houston Cheng return to talk about financial condition testing, key performance indicators and other aspects of IFRS 17 that P&C actuaries need to think about before the end of the year.
With the January 1 deadline for IFRS 17 implementation rapidly approaching, there may be some last-minute items that actuaries in the P&C practice area need to consider.
Earlier this year, the Canadian Institute of Actuaries (CIA) issued a statement on the growing interest in using big data in insurance ratemaking.
The latest buzz phrase in the insurance industry is “embedded insurance,” which presents an opportunity to seamlessly offer protection in real time given a proactive approach to risk management. Underpinning embedded insurance is the ability to personalize insurance. This requires that customers understand the necessity of sharing more data with their insurance providers.
Canadian Institute of Actuaries
360 Albert Street, Suite 1740
Ottawa, Ontario K1R 7X7
SeeingBeyondRisk@cia-ica.ca