Insurance-Canada.ca Newsletter Archive

Issue 2003-13:   April 1, 2003

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.




Seminar last call:

Insurance-Canada.ca's fifth annual Claims seminar, Wednesday April 2 in Toronto will focus on "Technology Differentiated Claims Handling". Details at http://www.insurance-canada.ca/seminars/seminar20030402.php. A few seats still available.




Distribution

UnumProvident product to be added to ConnectInsure quoting service.

Global IQX Inc., developer of the ConnectInsure Web-based quoting service that enables insurance professionals to conduct online quotations and enrollment transactions, today announced a partnership with UnumProvident. UnumProvident, the leading provider of income protection insurance, will distribute its Long Term Disability Income Protection (LTD) product (to employers with 2-50 employees) through the ConnectInsure Web site at www.connectinsure.com. More at http://www.insurance-canada.ca/distribution/announce/GlobalIQX200303.php

CSIO Insurance Portal Status Update

Week ending March 28: The number of brokers connected remains at 28.
For Ontario Property, AXA has begun User Acceptance Testing, and CGU, Traders, and Scottish and York have completed User Acceptance Testing.

Consumer Information

"You asked us?" This week's question:

"I bought an "all risks" home insurance policy. Does that mean I'm covered for everything?"
(More)

Marketing Insurance

POLLARA Launches 2003 Edition of InsurPOLL, Canada�s Leading Syndicated Survey of P&C Insurance Consumers.

POLLARA is launching the 2003 edition of InsurPOLL, its syndicated market research survey that has been analyzing the wants, needs and perceptions of P&C insurance consumers since 1999. InsurPOLL provides subscribers with strategic, decision-making information collected through 1,700 half hour interviews with Canadian P&C insurance consumers. More at http://www.insurance-canada.ca/market/canada/Pollara200303.php

Technology and e-business.

IBM signs up Canada Life for pay-by-the-policy software application services.

IBM announced today an insurance industry first � an agreement with Canada Life for insurance software applications that will be delivered on demand � paid for according to the volume of insurance policies processed. More at http://www.insurance-canada.ca/ebusiness/announce/IBMCanadaL200303.php

Web Front is Accepted as Service Provider for the Microsoft BizTalk Server Partner Program.

Web Front Communications Inc., an innovative developer of enterprise Web solutions, today announced it has been accepted as a Service Provider for the Microsoft BizTalk Server Partner Program, based on its proprietary EAI SmartStep solution in BizTalk Server deployments. More at http://www.insurance-canada.ca/ebusiness/announce/WebFront200303.php

UK: Norwich Union appoints IBM and Orange for Pay as You Drive(TM) Insurance.

Norwich Union has signed a deal with IBM and Orange UK to provide the technology and telecommunications for its revolutionary �Pay As You Drive' (TM) insurance programme. The UK�s largest general insurer�s innovative venture will see data collected from a telematic device in a customer�s car and an insurance premium calculated based on when, where and how often the car is used. More at http://www.insurance-canada.ca/ebusiness/other/NorwichU200303.php

Applied Systems' - Two Data Centers Meet SAS 70 Standards for Data Security.

Applied Systems, Inc. announced today that the Internet data centers which host Applied�s ASP management systems, TAMCentral and VisionCentral, meet auditing standards developed by the American Institute of Public Accountants in its widely recognized Statement on Auditing Standards No. 70 (SAS 70). More at http://www.insurance-canada.ca/ebusiness/announce/AppliedASP200303.php

InSystems Launches Correspondence Application.

InSystems, the leading provider of e-business solutions to financial services organizations announces the availability of InSystems Correspondence, a web-based correspondence management solution that automates and accelerates the creation and management of personalized correspondence, and supports its distribution through multiple channels including print & mail, fax and email. More at http://www.insurance-canada.ca/ebusiness/announce/InSystems200303.php

Consumer Value - Not Underlying Technology - will be Top Driver For New Consumer Payment Tools: TowerGroup.

Electronic payments continue to gain share at the expense of cash and checks in the U.S., a market that has long-lagged other nations in the global shift from paper-based payments. New TowerGroup research finds that as the percentage of electronic transactions continues to increase, so does competition among new technologies to become the dominant electronic payment mechanism for consumers at point of sale, online or through mobile devices. More at http://www.insurance-canada.ca/ebusiness/other/TowerGrp200303.php

Policy and Product Management

Older UK Motorists See Falling Premiums: Tillinghast - Towers Perrin.

According to actuarial and management consultant Tillinghast - Towers Perrin, the average car insurance premium for the 3 million motorists aged 60 � 75 is �240. The latest findings from its Motor Market Analysis, which monitors the movement of car insurance premiums, reveals that quotes for this age group have fallen by 1% since November 2002. The analysis suggests further falls are expected during the next three to six months. More at http://www.insurance-canada.ca/poladmin/other/Tillinghast200303.php

New Marsh & McLennan Securities Study Says Catastrophe Bond Market Reached Record Issuance of $1.2 Billion in 2002.

The catastrophe bond market had record issuance in 2002 of $1.2 billion, exceeding the previous high of $1.1 billion set in 2000, according to a new report co-sponsored by Guy Carpenter & Company, Inc., the leading global risk and reinsurance specialist, and Marsh & McLennan Securities Corporation, the specialized investment banking arm of Marsh & McLennan Companies. More at http://www.insurance-canada.ca/poladmin/other/MarshCat200303.php

Business of Insurance

Conning Research: Wave Of Demutualization Causes Few Ripples For Life.

A decade's worth of demutualization in the life insurance industry has actually changed very little other than the companies' organizational structure, according to a new study by Conning Research & Consulting, Inc. More at http://www.insurance-canada.ca/business/canada/Conning200303.php.

from Doug:

Some sort of April Fool's joke would be appropriate, but I am not good at that sort of thing. Mother Nature threw more white stuff at us overnight (no joke!), perhaps to hide the purple crocuses and white spring flowers (no I don't know what flower it is) which blossomed late last week. The promise of some warmer sun later today will hopefully bring back the spring joy.