Insurance-Canada.ca Newsletter Archive

Issue 2004-25:   July 13, 2004

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.




Policy Management

Camilion Solutions Introduces Camilion Underwriter.

Camilion Solutions, the leading provider of product management software for the insurance industry, today announced the introduction of Camilion Underwriter, a pre-configured solution built with Product Innovator, the company's flagship product offering, making it easier than ever for Property and Casualty insurers to speed the introduction of new products to market.

CarProof now includes Experian Automotive Vehicle History Data.

CarProof.com, a leading provider of vehicle history reports for vehicles registered in any Canadian province or territory, today announced its relationship with Experian Automotive to integrate Experian's comprehensive vehicle history data into CarProof's vehicle history reports.

Major USA Regional Carrier to Implement Policy INSIGHT: Sapiens.

Sapiens International Corporation N.V., a global provider of insurance technology solutions, announced a new contract with a major regional carrier. The agreement, which is valued at $4.5 million over a period of five years, will deliver expanded agent services, improved risk management and enhanced real-time processing, resulting in cost savings. The solution offered by Sapiens, based on its Policy INSIGHT&trader; is intended to improve operating efficiencies for employees, agents and customers alike.

Product Announcements

Standard Life Mutual Funds launches Managed Portfolios and Standard Life Global Dividend Growth Fund.

Standard Life Mutual Funds Ltd. expanded its product offering by launching Managed Portfolios and the new Standard Life Global Dividend Growth Fund.

Rate Increase and Age Band Adjustment Announced: T.I.C. Travel Insurance Coordinators.

T.I.C. Travel Insurance Coordinators ("T.I.C.") today announced that it has adjusted the age bands on its travel insurance products, and has increased pricing on some products, in an effort to balance the impact of market conditions. These changes take effect July 1, 2004.

Managing Relationships and Customer Service

Industrial Alliance launches an online retirement planner for the members of its group savings plans.

Industrial Alliance Insurance and Financial Services Inc. is proud to announce that a new retirement planner for the members of its group savings plans is now available on Cyberclient, its secure website, which is accessible through the Company's website at www.inalco.com.

Manulife Mutual Funds ranks first in customer service for three straight years.

For the third consecutive year, Manulife Mutual Funds (a division of Elliott & Page Limited) has been named among the best in Canada for customer service among its competitors, according to a survey by Environics Research Group.

Manulife Financial to distribute more than $157 million to participating Canadian policyholders.

The Manufacturers Life Insurance Company (Manulife) will maintain its dividend scale on all dividend-paying life insurance policies in Canada at current levels for the period July 1, 2004 to June 30, 2005, the company announced today.

Distribution

SIAA Canada announces new Master Broker: Rhodes & Williams Limited.

SIAA Canada (Strategic Independent Agents Alliance Canada), the largest network of partnering independent insurance brokerages in the U.S. and Canada, announces that Rhodes & Williams Limited of Ottawa, Ontario has joined SIAA Canada and has established Brokers Helping Brokers Alliance, Limited, operating as BHB Alliance, a Strategic Master Brokerage covering Eastern Ontario.

Marketing Insurance

RRSPs gain ground among most popular ways to invest: Manulife Investor Sentiment Index.

Canadians' interest in investing in RRSPs showed the strongest growth in the past quarter and eclipsed investing in their own homes and investment property, according to a recent national poll for Manulife Financial, Canada's leading insurance and wealth management company.

Business of Insurance

Industrial Alliance Renews its Growth and Profitability Objectives at a Conference for Investors and Analysts.

Industrial Alliance Insurance and Financial Services Inc. took advantage of its first investor and analyst conference, to renew the Company's two major objectives, which are to obtain a return on equity between 13% and 15% and to achieve a business growth rate that is five percentage points higher than that of the industry.

Update on Standard Life's Strategic Review: The Standard Life Group has approved the domestication of its Canadian Operations.

The Standard Life Group, based in Edinburgh, Scotland, announced today that the UK board of Directors has approved a transfer of its Canadian Operations from its branch in Canada to its wholly-owned Canadian subsidiary, the Standard Life Assurance Company of Canada (Standard Life Canada). The target date for the completion of the transfer of business process, or domestication, is January 1st, 2005.

Statistics and Reference

Canadian Economic Outlook June 2004: SwissRe.

With the economy improving, the Bank of Canada's first interest rate hike is expected in September. Manufacturing continues to gain strength. The job market improved in May. Low interest rates have kept the housing market strong. Retail sales fell in April.

Consumer Information

Choosing Life Insurance Coverage that's Right for You: RBC Insurance.

Whether you're planning to buy a new policy or just trying to understand the coverage you have, making sense of life insurance and knowing what coverage to get can be challenging. Here are a few tips to help find out what's right for you.

B.C. homeowners advised: check your insurance coverage now: IBC

With over 300 active forest fires burning in British Columbia already, Insurance Bureau of Canada is advising homeowners in the province to check their insurance coverage now, rather than waiting until forest fires are threatening their communities.

New Brunswick Auto insurance reforms to lower rates, increase choice, help first-time drivers.

Significant changes to automobile insurance to further lower rates, increase choice, industry accountability and transparency and to help first-time drivers were introduced today in the legislature by Premier Bernard Lord.

The Co-operators Responds to New Brunswick Auto Insurance Reforms.

We are in the process of reviewing the legislation to determine its full impact on our business. In general, however, The Co-operators is pleased the government has chosen a private sector solution for New Brunswickers. At the same time, The Co-operators is concerned the New Brunswick government chose to impose additional regulations on what is already a highly regulated industry.

The Dominion's CEO applauds New Brunswick's rejection of government-run insurance

"We are very pleased that the Government of New Brunswick recognizes the benefits of choice and competition to consumers and has rejected government-run auto insurance", said George Cooke, President and Chief Executive Officer of The Dominion of Canada General Insurance Company. While the endorsement of private competition is encouraging, Mr. Cooke expressed concern about proposals for increased regulation and government interference.

Allstate and MADD Canada to 'Save a Life' through summer sober driving campaign.

Allstate Canada and Mothers Against Drunk Driving (MADD Canada) are helping stop impaired driving by encouraging people to enjoy a safe summer before the upcoming Canada Day long weekend.

from Doug:

We had a wonderful trip through Western Canada, where we enjoyed western hospitality from family and friends, and Alaska where the glaciers, wildlife and scenery passed expectations. Typically we discovered many places that we would like to go back and explore more extensively. Good fortune smiled on us - other than a bit of cooler weather in BC the last few days and a couple of days of misty rain, the forest fires, storms, tornados etc. were elsewhere in Canada and Alaska.

I hope your summer is off to a good start too.