Rapidly evolving technology and the societal changes it brings carry a number of implications for the insurance industry. New business models, as evident in Uber and Airbnb, are evolving, autonomous cars take to the road, and cyber security risks are proliferating. While challenges continue to crop up alongside technology advancements, they are also sources of valuable tools for day-to-day business operations and can help to identify and track trends, say Doug Grant and Patrick Vice, partners at Insurance-Canada.ca Inc., a Toronto-based organization that provides consumers and insurance professionals with independent information about technology and the business of insurance in Canada.
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