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Insurance-Canada.ca Newsletter Archive


Issue 2002-18:   May 6, 2002

This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.




Claims

Hub technology in action: How online collaboration streamlines claims processing: By Patrick Vice from ci - Canadian Insurance. Collaborative or "hub" technology, as it is variously known, uses software applications and Internet portals to link up the various parties involved in handling an insurance claim, facilitating the exchange of information and thereby improving communication, reporting and workflow. More at www.insurance-canada.ca/claims/canada/ViceHub200204.php

Allianz Canada Launches Web-based Claims Reporting: Barb Aarsteinsen, editor ci - Canadian Insurance. After 18 months of development, Allianz Canada is ready to launch its own electronic claims reporting using Web-based software. The company has just completed a pilot project and on Feb. 19, a customer for the first time transmitted a motor vehicle accident report electronically from North York Accident Support Services Ltd., one of Toronto's three Collision Reporting Centres (CRCs), directly to Allianz Canada's Toronto claims office. More at www.insurance-canada.ca/claims/canada/Allianz200205.php

ReplacementFinder Unveils Automated Management Tool April 29, 2002. ReplacementFinder, The Ultimate Replacement Resource today unveiled an automated management tool. Now insurance managers can receive a monthly management report. More at www.insurance-canada.ca/claims/announce/ReplF200204.php

Accenture Rolls Out Upgrade to Web-Based Claims Software. Accenture gathered feedback from more than 20 leading property/casualty insurers and hundreds of claims adjusters and IT executives worldwide to identify how the claims process could be improved. The enhanced claims software supports multi-language and multi-currency financial transactions and includes several new components designed to help insurers significantly reduce claims-handling time, streamline the claims-handling process and reduce claims-payment errors and overpayments. More at www.insurance-canada.ca/claims/other/Accenture200205.php

Managing Relationships

Dalbar releases 2002 rankings of Canadian universal life insurance statements Toronto, April 30, 2002 -- Insurance companies are responding to the increased importance of life insurance products with better universal life statements. "It used to be that mutual fund statements were far superior to universal life statements, but that is no longer the case," says Manny Da Silva, director for Dalbar's Canadian office. More at www.insurance-canada.ca/ebusiness/canada/Dalbar200205.php

Standard Life adds on-line educational tool to its Group Savings & Retirement plan offering. MONTREAL, April 30 - Standard Life is pleased to announce that, in association with The Financial Educator Inc. (TFE), it is now providing free access to on-line financial education courses for its Group Savings & Retirement plan members. The on-line material, developed by TFE independently of Standard Life, is available to members via a link from Standard Life's secure Member VIP Room Internet site to the TFE Web site. More at www.insurance-canada.ca/ebusiness/canada/StandardEd200204.php

Does Your e-Mail look like Junk Mail to your Reader? -- Your Virtual Insurance, May 2, 2002 A large portion of the email I receive is junk. But I have to be sure before deleting. I can usually figure this from the preview screen (Eudora), but sometimes I have to open it to be certain. What surprises me is how much legitimate mail *looks* like junk. Over the last while, I tried to figure why. The obvious things are misuse of the ... More at www.insurance-canada.ca/ebusiness/other/VIemail200205.php

Distribution

Asset Management Firms Struggle to Distribute Web Content to Broker/Dealers, kasina Finds NEW YORK CITY (April 22, 2002) - For the first time, asset management firms and broker/dealers gathered to discuss possible blueprints for implementing industry-wide syndication standards for managing Web content at a Web Content Syndication Workshop hosted by kasina. More at www.insurance-canada.ca/distribution/other/kasina200204.php

eBusiness & Technology

Broadband Goes Mainstream: Half of Home Internet Subscribers Now Using a Broadband Connection in Canada – Ipsos-Reid. Toronto, April 30, 2002 - A new study from marketing research firm Ipsos-Reid shows that nearly one-half (48%) of Canadian adults with a home Internet connection have a broadband connection, further proof that Canadians continue to be at or near the top in the world when it comes to Internet adoption and usage. More at www.insurance-canada.ca/ebusiness/canada/IRHiSpeed200204.php

The Benefits of Broadband, Part 5: E-Business, By Ben Macklin and Steve Butler, eMarketer According to the "Net Impact Study" conducted by the University of California-Berkley, the Brookings Institution and Momentum Resources Group, the deployment of e-business solutions has yielded cumulative cost savings of $155 billion to US organizations. This is expected to produce $373 billion in cost savings by 2005 and more than $500 billion in cost savings by 2010. The savings are in addition to the revenue increases which e-business solutions provide. More at www.insurance-canada.ca/ebusiness/other/EmarketBB200205.php

Statistics & Reference

Conning & Company Study Finds e-business Coverage Risks may Outweigh Rewards for Insurers (Hartford, CT) March 18, 2002 - Businesses' increased use of the Internet is creating a substantial growth opportunity for the emerging e-business insurance market, but e-business insurance may not be a good market for every insurer, according to Conning & Company. More at www.insurance-canada.ca/refstat/other/Conning200204.php

from Doug:

Spring has returned again and a couple of wonderful days - spent Sunday exploring part of our heritage at Black Creek Pioneer Village.

Our Straight-Through-Processing seminar was just not coming together the way we wanted, so we have deferred it from May 10 to Sept 13 - and yes, that is a Friday.

Our next seminar coming on Wednesday June 12, half day in Toronto, and titled "Taming the Information Explosion" will look at two major areas - content management and collaboration. More details at www.insurance-canada.ca/seminars/seminar20020612.php -- this seminar is sponsored by IKON (Information is power; Find it when you need it.) and Sysinct (e-Business: it's what we know.).



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