The Chronicle: Issue 2014-33, August 19, 2014


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

Technology as a Tool for Knowledge Worker Retention
I am a big fan of continuous, broad-based skill development for employees. A fair percent of my time as an IT manager was spent encouraging technical IT folks to learn about the business of insurance in order to provide a broader view of their jobs. I recently saw some material that suggested that an inverse model – providing insurance professionals broad based IT training – might address skills issues facing the insurance industry. Would more exposure to IT training facilitate claims examiners, underwriters, agents/brokers, and finance managers?

Are Insurers Facing More Threats or Opportunities with the Internet of Things?
The view of the Internet of Things from the present moment is overwhelming. That said, we believe that insurance practitioners need to squint hard and try to get some things in focus. It seems there are many more questions than answers about the impact of the IoT on insurable interests, on potential services and products, and on existing insurance technology. Suffice it to say, there is no shortage of risk (some being existential) to consider.

The Intersection: Insurance-Canada.ca Blog
The Intersection

an Insurance-Canada.ca Blog


Claims

AudaExplore: Consumers serve as primary driver for technology adoption
Repair professionals say digitally-empowered customers are transforming their business, driving the adoption of new technology and forcing them to communicate in new ways, according to a survey by AudaExplore, the US business unit of Solera Holdings Inc. and a leading data-driven solution provider to insurance carriers, repairers, dealerships, fleet owners and suppliers.

Distribution

JD Power study: commercial insurance-focused providers are missing the personal touch
Insurers that predominantly write personal lines of insurance do a better job in satisfying their small-business customers than insurers focused more on commercial lines, according to the newly released J.D. Power 2014 U.S. Small Business Commercial Insurance Study.

IBAO announces Awards of Excellence finalists
The Insurance Brokers Association of Ontario is revealing the list of finalists of the prestigious ‘Awards of Excellence’ to be presented at the association's 94th Annual Convention in Ottawa this October. The Awards recognize insurance brokers and brokerages throughout Ontario for outstanding professional and community contributions.

Applied Systems: MLS Insurance Brokers selects Applied EpicOnline to support business expansion
Applied Systems has announced that MLS Insurance Brokers, Inc. has selected Applied EpicOnline for a single brokerage management system to support brokerage growth and provide greater visibility into its business. MLS has also selected Applied CSR24 and Applied MobileProducer to offer anytime, anywhere customer service online and mobile access to insurance data for its producers through tablet devices.

Consumer Information

IBC offers top 10 tips for preventing house fires and saving lives
Every year, fires claim lives and cost millions of dollars in damage; in many cases, these tragedies could be avoided. Insurance Bureau of Canada offers its top 10 tips for preventing house fires and saving lives to help Canadians protect their families and their homes.

Kanetix.ca DriveSmart app grades users' driving skills
Kanetix.ca, Canada's premier car insurance comparison company, is challenging drivers to test their skills through a new mobile DriveSmart app – the first of its kind in Canada – that scores their driving, letting them know if they could qualify for auto insurance discounts.

Technology

Silanis: legal insights for insurance professionals transitioning from paper to digital business processes
Highlights from a recent presentation on Insurance Documentation: E-Signature & E-Delivery by Daniel Fabiano, partner at Fasken Martineau DuMoulin LLP, and Silanis Technology. Mr. Fabiano advises technology providers, developers and users in a number of capacities including Internet, e-commerce platforms, social media, licensing and privacy matters, and has extensive experience with e-commerce and electronic signatures.

IBM opens first SoftLayer Data Centre in Canada
IBM has announced the opening of a new SoftLayer data centre in Toronto to meet the growing demand for hybrid cloud solutions that encompass open integration, data control and unique industry expertise.

Information Builders and Arrow to Expand Market Reach of Self-Service Business Intelligence Solutions
Information Builders has announced its partnership with Arrow Enterprise. The company will distribute Information Builders' WebFOCUS Express offering, a solution designed to deliver the advanced BI benefits enjoyed by large enterprises to smaller organizations.

Guy Carpenter launches MetaRisk 7.3
Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, has announced the release of MetaRisk® 7.3, the latest version of the firm's premier risk and capital management decision-making tool.

Telematics

eMarketer: Consumers know connected cars exist, but that's about it
Knowing about something and understanding it are two very different things, and a May 2014 study by Harris Interactive found that this gap was wide when it came to familiarity with connected cars. While 56% of US car owners had heard of connected cars, just 14% were actually familiar with what they were and could do.

Aite Group: Telematics and Usage-Based Insurance are notable players in an evolving market
The combination of broader consumer acceptance and more ubiquitous technology has created a groundswell of UBI offerings. Together, UBI and telematics will soon be firmly ensconced in many North American carriers' product and services tool kits, acting as a bridge to the future of insurance.

Policy Management

Risk Control Technologies: Missouri Employers Mutual rolls out RC Inspection to streamline loss prevention operations
Risk Control Technologies Inc., the industry-leading provider of loss control software solutions for insurers, has announced that Missouri Employers Mutual (MEM) has deployed the RC Inspection software solution in production to help streamline its loss prevention operations. MEM is Missouri's No. 1 provider of workers compensation insurance.


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