Insurance-Canada.ca Newsletter Archive

Issue 2003-9:   March 4, 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.




Business of Insurance

GRetirement's social and personal challenges in the 21st century: Donald Stewart CEO Sun Life.

Sun Life Financial Services of Canada Inc.'s Chief Executive Officer, Donald A. Stewart, spoke at the H�tel Hilton Bonaventure in Montreal, at a luncheon hosted by The Canadian Club of Montreal. More at http://www.insurance-canada.ca/business/canada/SunLCEO200302.php

Managing Relationships and Customer Service

Insurance consumer complaint resolution group has busy beginning: Ombudservice.

"The GIO is proving to be an efficient and impartial way to reconcile disputes between insurers and their customers," says Lea Algar, chair of the GIO. "Consumer services officers have helped many policyholders to solve their problems even before they escalated to the point of activating the formal mediation process." More at http://www.insurance-canada.ca/ebusiness/canada/Ombud200302.php

Distribution

Carriers Support Next Steps in LCC Development.

The Life Company Central (LCC) mission is to establish a common system interface facility (B2B portal) between suppliers of life insurance products and their many distributors. LCC reports that Standard Life, Manulife, RBC Life Insurance Company and SunLife have agreed to enter into phase two of the decision analysis. More at http://www.insurance-canada.ca/distribution/canada/LCC200302.php

Real-time SEMCI for Independent Agents Becomes Reality, by Jeff Yates.

A major step forward for our distribution system occurred on October 20, 2002 when Applied Systems, eight insurance companies, and IVANS enabled real-time interfaces for 7,500 independent agencies through their Applied Systems. More at http://www.insurance-canada.ca/distribution/other/ACT200302.php

Asset Management Companies Set to Triple Spending on Intermediary e-Mail Initiatives by 2005: kasina.

kasina, a strategy consulting firm for the financial services industry, released its newest whitepaper, "Intermediary e-Mail Trends and Best Practices." The first comprehensive review of intermediary e-mail marketing for the asset management industry, the report found that asset management firms plan to triple spending on intermediary e-mail efforts over the next three years. More at http://www.insurance-canada.ca/distribution/canada/kasineemail200302.php

CSIO Insurance Portal Status Update

Week ending February 28: The number of brokers is unchanged at 26.
For Ontario Auto, AXA has completed User Acceptance Testing, but has yet to sign off for production. Both Pilot and Farmers Mutual Lindsay have begun User Acceptance Testing.
For Ontario Property, ING has now started User Acceptance Testing. RSA's rates and rules have been loaded and Systems testing has begun for both RSA and Pilot.

Skills and Careers

Clarica Scholars technology innovation program to connect Francophone teachers and students.

Acadia University, APTICA (Advancement Pedagogique des technologies de l'information et de la communication en Atlantique) and Clarica today launched a new program, Innovations Cyberpedagogiques, that will connect Francophone teachers, students and experts for a dynamic and collaborative technology experience in the Summer of 2003. More at http://www.insurance-canada.ca/humanres/canada/ClaricaSTIP200302.php

Consumer Information

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

Q: My sister is immigrating to Canada in a few months. Will she need private health insurance, or will she be eligible for provincial health insurance when she arrives? More at http://www.insurance-canada.ca/consinfogeneral/uaskus.php

Claims Seminar:

Thanks to automallnetwork for sponsoring our next seminar "Technology Differentiated Claims Handling". They will discuss some aspects of their use of technology as they deliver on their value proposition to "Reduce total loss claim payouts AND satisfy your policyholders! " More details at http://www.insurance-canada.ca/seminars/seminar20030402.php

Technology and e-business.

Two-Thirds of U.S. Banks Outsource One or More Functions: Accenture.

Two-thirds of U.S. retail and commercial banks with assets of at least $3 billion outsource one or more business functions, according to an Accenture survey of bank executives designed to assess outsourcing preferences and practices. More at http://www.insurance-canada.ca/ebusiness/other/AccentureBank200302.php

Insurance Products

Progressive Introduces First-Ever Insurance Policy for the Segway™ Human Transporter (HT).

In yet another industry first, Progressive announced today the availability of the first-ever insurance policy for owners of Segway™ Human Transporters (HTs), the innovative, self-balancing, emissions-free transportation devices that begins shipping to consumers on March 1. While coverage from some existing homeowners or auto policies may cover Segway HT owners, providing coverage if the device is stolen from home, for example, no other insurance company is offering a policy with all lines of coverage. More at http://www.insurance-canada.ca/business/other/ProgSegway200302.php

Marketing Insurance

Information Sharing Is Crucial for Intermediary-Based CRM: GartnerG2.

Understanding customers and prospects can be invaluable. Getting to know them, and then leveraging that knowledge in an intermediated relationship, is no mean feat. This then forms the starting point for this research from Kimberly Collins, GartnerG2. More at http://www.insurance-canada.ca/market/other/GartnerG2CRM200302.php

Policy Management and Underwriting

Munich Re Selects SAP for Insurance Solution to Manage Core Processes.

SAP AG announced that the world's leading reinsurer, Munich Reinsurance Co. (Munich Re), will implement the reinsurance capability of mySAP™ Insurance to handle its core business processes, replacing various legacy systems with a single comprehensive solution. The reinsurance capability of mySAP Insurance will streamline the processing of reinsurance business at Munich Re and reduce maintenance and development costs typically associated with maintaining disparate systems. More at http://www.insurance-canada.ca/ebusiness/canada/MunichReSAP200302.php

CSC Adds Advanced Life Insurance Underwriting Systems and Services to nbAccelerator.

Computer Sciences Corporation announced today that it has signed separate agreements with Swiss Re Life & Health America Inc. and e-Nable Corporation that will add advanced automatic underwriting systems and services to CSC's nbAccelerator life insurance new business offering. More at http://www.insurance-canada.ca/poladmin/announce/CSCeNable200302.php

from Doug:

Although March didn't really roar in like a lion, it didn't take long to record the coldest March 3rd in Toronto's history. That said, the longer and stronger sun really does feel good - like a harbinger of spring. February was another good month for Insurance-Canada.ca, daily traffic up a bit and more subscribers to this newsletter. Thank you for visiting, and subscribing.