The Chronicle: Issue 2013-03, January 22, 2013


What's Going Through The Intersection of Insurance and Technology?

Bridging the Gap to Big Data and Analytics
At a recent meeting of the Insurance 2023 Group, one of the members suggested that Analytics was going to create a divide between the “haves” (those insurers/brokers which have access to and understanding of data and analytic tools) and the “have-nots.” There seems to be a gap already forming. Fortunately, there is an opportunity to bridge that gap, using knowledge available at the 2013 Insurance-Canada.ca Technology Conference.

How Do Consumers Want To Be Served? Do We Know, or Think We Know?
“How may I help you?” It seems like an innocent enough question, but our success going forward may depend on knowing the correct answer for each prospect or customer we serve. Specifically, we need methods to understand each consumer's attitude about how much of his or her personalized information we can (or cannot) use.

The Intersection: Insurance-Canada.ca Blog
The Intersection

an Insurance-Canada.ca Blog


Business of Insurance

IBC partners with Crime Stoppers to combat insurance fraud
This is Crime Stoppers Month and while traditionally you're probably thinking of crimes such as assaults, robbery or drug offenses, at Insurance Bureau of Canada (IBC), the number one crime is insurance fraud.

Aite Group: Top 10 Insurance Trends for 2013
A new report from Aite Group reveals the top 10 trends that will shape the insurance industry, including health and P&C insurance, in 2013. Domestic and global developments will fundamentally impact the insurance business in the coming year.

More than 80 charges laid over auto insurance fraud at Toronto assessment centres
The Financial Services Commission of Ontario has laid 84 charges under Ontario's Insurance Act against two rehabilitation clinics and four individuals affiliated with these clinics. These clinics and individuals are alleged to have submitted false invoices to auto insurers.

Industrial Alliance to offer Pooled Registered Pension Plan
Industrial Alliance is pleased to announce that it will be offering the new Pooled Registered Pension Plan (PRPP) as soon as the government gives the green light. The PRPP is a new multi-employer group retirement plan designed by the federal government to help Canadians save for retirement.

CGI refreshes its brand after completing Logica acquisition
CGI Group Inc., a leading provider of information technology and business process services, today launched an updated brand to signify a historic milestone: the doubling of its size and geographic footprint following the close of the Logica transaction on August 20, 2012. The combined company has approximately 72,000 members in more than 40 countries and approximately C$10 billion in annualized revenue.

DISA consolidated under ACORD in merger of international standards companies
ACORD and DISA, the organization for development of cross-industry electronic business interchange standards, announced that the two organizations would consolidate under the ACORD banner. The merger of the two leading international standards organizations will benefit members of both organizations, as well as the various industries their standards support.

Western Financial Group expands to Campbell River with acquisition of First Insurance Agencies
Western Financial Group is proud to announce that First Insurance Agencies Ltd. of Campbell River, BC has joined its growing network of insurance brokerages across western Canada. The acquisition was completed on January 14. It is Western's third acquisition on Vancouver Island in the last year.

Distribution

illustrate inc.: Is Technology Outpacing Real Quality?
Technology continues to advance at a rapid pace these days. Every day we are bombarded with new devices and applications. As technology has advanced, so have the consumers' expectations. Today's consumers expect software to do more and interact with more than ever before. As a result, software complexity has grown exponentially.

IBAO: relationship improving between brokers and companies, survey shows
Today, the Insurance Brokers Association of Ontario is announcing results from its 2012 'Rate Your Company' broker survey, showing a significant improvement in broker sentiment and perception of insurance companies. While individual insurance company results may vary, it is evident that brokers generally have shown an improvement in their sentiments for their chosen insurance company partners in 2012.

Technology

Accenture opens new Innovation Center for SAP Solutions in Toronto
Accenture is expanding its global network of Innovation Centers for SAP Solutions with the opening of a new center in Toronto. Focused on accelerating the development, delivery and commercialization of business solutions based on SAP technology, the center will help Canadian businesses increase speed to market, enhance flexibility, and improve business performance.

Consumer Information

Kanetix.ca launches first Canadian online car insurance comparison app
Online financial comparison service, Kanetix.ca, announced the launch of the Kanetix Car Insurance Quick Quote app today, which allows Canadians to scan and compare auto insurance quote estimates, all conveniently from their iPhone.

CLHIA: industry supports provincial plan to lower generic drug prices
The Canadian life and health insurance industry enthusiastically supports today's announcement by Saskatchewan Premier Brad Wall and Prince Edward Island Premier Robert Ghiz that Canada's provinces will be reducing the maximum price for six of the most common generic drugs to 18 per cent of the equivalent brand-name drug.

IBC applauds provincial regulator for auto fraud crackdown
Insurance Bureau of Canada congratulates Financial Services Commission of Ontario (FSCO) for laying 84 charges under the insurance act in connection with false insurance claims submitted to auto insurers. Two Toronto area clinics and four individuals face charges.

Canadians see increased private healthcare delivery as a threat to public medicare
Additional private delivery of health services is seen as a threat rather than a complement to the public system in Canada, according to a survey conducted by EKOS Research Associates for The Conference Board of Canada's Canadian Alliance for Sustainable Health Care.

Policy Management

Key Insurance Company chooses Accenture Duck Creek
Accenture announced that Key Insurance Company has selected Accenture Duck Creek Rating property and casualty policy software to support their product development and expansion initiatives. The insurer offers personal automobile coverage in Kansas, Oklahoma, Nevada, Arizona, and Alabama and will use Accenture Duck Creek as its core rating system.


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