Insurance-Canada.ca Newsletter Archive

Issue 2004-26:   July 20, 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.




Distribution

HealthQuotes.ca Broker Affiliate Program Now Launched.

HealthQuotes.ca has now launched their Broker Affiliate Program. The Affiliate Program is designed so that Associate Agents, their clients and HealthQuotes.ca all come out winners. The program is very flexible, and can be tailored to suit the needs of their Broker Associates.

Independent Study by Celent Communications Cites illustrate inc a Solid Option for Canadian Life Insurance Carriers.

illustrate inc, a leading developer of policy illustration solutions to the Canadian life insurance industry was recently one of eight companies analysed and profiled in an independent study conducted by Celent Communications. The report, released in June, profiles in detail the technology, overall functionality and service offerings of eight providers of illustration software to the life insurance and annuity industry in North America.

Federated Life partners with Global IQX to offer online sales capabilities.

Global IQX Inc., the leader in integrated e-business automation solutions for the group life and health insurance industry, today announced a distribution and licencing agreement with Federated Life. Federated Life will distribute its Critical Illness Protection products through the ConnectInsure™ insurance portal at www.connectinsure.com.

Desperately Seeking SEMCI? Producer Views That Might Change The Debate: Report by Celent.

The SEMCI debate seems to thrive on unchallenged assumptions. Celent's latest report, Desperately Seeking SEMCI? Producer Views That Might Change The Debate, explores these assumptions from the producers' perspective. "SEMCI is a great idea if you're a producer," says senior analyst Craig Weber, author of the report. "But the benefits of SEMCI for producers come at a considerable cost to carriers."

Marsh and Willis step up use of Kinnect Platform.

The volume of business being placed in the London insurance market using Kinnect, the Lloyd's-backed messaging system to support electronic placing of risks, has increased significantly during May. From 1 May, international broker Marsh has been using the Kinnect Platform to send out risk data to underwriters relating to its North American property portfolio.

CSIO Insurance Portal Status Update

Week ending July 16: Peel Mutual has moved into production for Ontario property rates.
The team continues to add brokers to the portal at a steady pace, with 58 brokers now signed up and technically integrated to the portal - as usual, some are doing internal training and implementation.

Marketing Insurance

The Small/Medium Business Landscape In Canada: IPSOS-Reid Survey.

According to a new Ipsos-Reid survey conducted on behalf of UPS Canada, three quarters (75%) of owners or senior personnel from small and medium businesses are positive about the current environment for small business in Canada. Moreover, 78% expect their business to experience increased profitability in the next five years.

eBusiness and Technology

The Innovation Group Leverages Alliance With OARBIC To Extend Services and Support for Customer.

The Innovation Group (TiG), a software and solution provider with operations throughout Europe, North America, Australia, South Africa and Japan announced today its alliance with OARBIC, an IT services company focused on the insurance industry. The TiG/OARBIC relationship further extends TiG's partnering strategy to ensure that new and existing clients have access and support for implementations of the company's products.

Castek Announces Agreement with Samsung SDS to provide resale and implementation services for Insure3 suite of products in South Korea.

Castek Inc. is pleased to announce a business partnership with Samsung SDS Co. Ltd. to provide localization and implementation services for the Insure3 Suite of P&C insurance business applications in South Korea.

Outbound E-Mail Cause For Concern? eMarketer.

Not all companies feel outbound e-mail holds significant risks, and those who do mostly focus on the possible loss of confidential memos, trade secrets and intellectual property.

Claims

TSI Crash Tests Results Now a Published Paper.

TSI conducted a series of crash tests in 2003, focusing on low speed impacts and the kinematics responses of the occupants. This testing was done to replicate other testing which was carried out in the United States, so that the results could be utilized as evidence in a Judicial Proceeding. TSI's paper, Comparative Analysis of Low Speed Live Occupant Crash Test Results to Current Literature, written by Dan Mills and Gary Carty, was recently presented at the Canadian Multidisciplinary Road Safety Conference XIV in Ottawa Ontario.

Hail Resistant Roofs: Fact or Fiction? I-ENG-A Report.

The selection of a hail-resistant shingle, in conjunction with an incentive from the insurance carrier, is a cost-effective alternative for both the homeowner and the insurance company. To make this program a reality, however, the insurance company must educate the homeowner on the potential long-term cost savings that are associated with the installation of the preferred roofing system.

New IRC Study Reveals Regional Auto Claim Cost Differences in California.

According to a new Insurance Research Council (IRC) report, Californians in major cities are more likely than non-metropolitan residents to 1) be involved in auto accidents, 2) have auto insurance losses per insured vehicle that are above the statewide average, and 3) file bodily injury liability (BI) claims when auto accidents occur. This report also revealed that Los Angeles claimants with minor auto injuries have an increased use of medical treatment compared to similarly-injured claimants in other areas of the state.

Statistics and Reference

USA Individual Life Premium Up 10 Percent in First Quarter, LIMRA International Reports.

Universal life (UL) policies continued to drive individual life insurance sales growth in the first quarter of 2004 while variable products began to show signs of a possible turnaround after a prolonged decline, LIMRA International reports.

Consumer Information

IBC Advice to policyholders in Peterborough re Flooding: Check with your insurer.

Insurance Bureau of Canada is advising policyholders affected by the floods in Peterborough, Ontario, to contact their insurance company or representative as soon as possible. When in doubt, any damage should be reported to insurers and steps should be taken to limit further damage to property.

The Co-operators Clarifies Position on Nova Scotia Automobile Insurance Rate Filing Confidentiality.

The Co-operators insurance company wishes to clarify any misunderstanding over its request for confidentiality in filing for new auto insurance rates in the province of Nova Scotia.

from Doug:

Vacations are wonderful, but one of the prices to pay is digging out from under when one returns. The pile shrinks, but all too slowly.
Is it just me, or is Nature telling us with increasing frequency that we must be careful and vigilante - I think of the floods in Peterborough, with more rain last evening, of the fires in the Yukon and some quaking earth in southwestern BC. Perhaps like our health, it is too easy for us not to appreciate the good days when things are "normal" - on that note, I wish that your summer goes well. Enjoy!