Issue 2008-07 -- February 19, 2008

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

Towergate Partnership Selects Guidewire.
MAIDSTONE, Kent, U.K., and SAN MATEO, CA, USA, February 13, 2008 – Towergate Partnership (Towergate), Europe's largest independently-owned insurance entity and Guidewire Software®, a leading global provider of technology solutions to property and casualty insurers, today announced that Towergate has selected Guidewire's industry leading ClaimCenter system. Guidewire ClaimCenter will support the end-to-end claims handling process for virtually all of Towergate's lines of business; implementation is commencing with Household claims.
[Editor's Note: Brian Desmond from Guidewire Software will speak at the 2008 P&C Technology Conference. Visit Guidewire's exhibit to learn more.]

Symbility Solutions Passes the 8,000 User Mark With Its Mobile Claims(TM) System.
TORONTO, ONTARIO--(Marketwire - Jan. 23, 2008) - Symbility Solutions Inc., a wholly owned subsidiary of Automated Benefits Corp. (TSX VENTURE:AUT), is proud to announce the acquisition of its 8,000th registered user of its mobile claims processing solution.
[Editor's Note: James Swayze, Symbility will speak at the 2008 P&C Technology Conference. Visit Symbility's exhibit to learn more.]

Lloyd's and LMA to drive claims change programme.
01/02/2008 - Lloyd's has today set out plans to accelerate the pace of change in the market's claims performance. Following successful completion of the Strategic Claims Review, the new Claims Change Programme (CCP) will be driven by Lloyd's Franchise Performance Directorate and a newly-created LMA claims group.

Policy and Product Management

Trillium Mutual Insurance Moves to Automate Personal Lines Underwriting using iter8.
February 2008: (Toronto) - iter8 Inc., an insurance solutions software developer, is pleased to announce that Trillium Mutual Insurance (Trillium) has formalized arrangements to strengthen their personal lines underwriting with a full automated exception-based underwriting solution, using iter8's market leading software.
[Editor's Note: Dave Patrick of iter8 Inc: – will speak at the 2008 P&C Technology Conference. Visit iter8's exhibit to learn more.]

MSB : Degree of Home Undervaluation Shifts in 2007.
NEW BERLIN, WI FEBRUARY 14, 2008 - MSB, the leading worldwide provider of building cost data and estimating technology to the property insurance industry, and a MacDonald, Dettwiler and Associates (MDA) company, announces the 2007 Insurance-to-Value Quality Index(TM), MSB's proprietary benchmark for assessing homeowners coverage adequacy across the United States. MSB's study reveals that an estimated 66 percent of U.S. homes are undervalued for the purpose of insurance by an average of 18 percent.

Towers Perrin Releases Second Tillinghast Study on Older Age Mortality, Which Provides Experience Data, New Insights.
Stamford, CT, February 11, 2008 - The demographics of consumers who buy life insurance have shifted considerably, with purchases at older ages now surpassing overall demand for life insurance in the U.S. This shift has prompted insurers to seek more information about the aging population.

Marketing and the Market Place

CIGNA International Expands Its Network By 207 New Providers in 32 Countries.
CLAYMONT, Dela. - December 10, 2007 - CIGNA International Expatriate Benefits has significantly expanded its network through a new agreement reached with ABC Medicover Holdings B.V. The agreement allows CIEB to make direct payment arrangements and reduces member's out of pocket expense.

Even With Enough Money To Retire, Most (82%) Canadians Would Choose To Work: Ipsos Reid.
January 29, 2008 - Toronto, ON - A new Ipsos Reid poll conducted on behalf of RBC finds that even if they had enough money to retire, most (82%) Canadians would still continue to work. However, it appears that the nature of that work would likely change, with a majority (53%) of Canadians indicating that they would work part-time or occasional hours as opposed to continuing to work full time (29%). Just 18% of Canadians would immediately retire if they had enough money to do so.

Consumer Information

Compucage International Inc. appoints Ingram Micro Inc. to Promote and Supply Products.
On February 4th 2008, Compucage International, Inc. a leading global manufacturer of computer security devices announced a partnership with Ingram Micro Inc., a worldwide company that connects technology solutions providers with venders globally.

ICBC introduces its best protection for new-vehicle owners.
The Insurance Corporation of British Columbia (ICBC) has introduced New Vehicle Replacement Plus, a unique insurance option that provides customers with ICBC's best coverage for new vehicles.

MPI offers free car-seat inspection clinics to parents.
Manitoba Public Insurance (MPI) recently launched a pilot project aimed at keeping young children safe in vehicles. The Manitoba Child Car-Seat Program will allow parents to have improved public education information via new videos, pamphlets and public presentations.

eBusiness and Technology

Gartner EXP Worldwide Survey of 1,500 CIOs Shows 85 Percent of CIOs Expect "Significant Change" Over Next Three Years.
STAMFORD, Conn., January 23, 2008 - Eighty-five percent of chief information officers (CIOs) see significant change coming over the next three years as they look to meet rising business expectations for IT to make the difference in their enterprise strategy, according to a worldwide survey of 1,500 CIOs by Gartner Executive Programs (EXP).
[Editor's Note: Kimberly Harris-Ferrante, Research Vice President, Gartner will speak at the 2008 P&C Technology Conference.]

Business of Insurance

RIMS Announces Upcoming Report on Enterprise Risk Management.
New York, N.Y., February 4, 2008--The Risk and Insurance Management Society (RIMS) has announced plans to release a study this spring on the state of Enterprise Risk Management (ERM). The report is based on data gathered from some 500 corporate risk practitioners over the course of the past year and is being developed in conjunction with software solution provider LogicManager, co-developer of RIMS Risk Maturity Model for ERM.

Great-West Lifeco subsidiary assumes a large block of U.K. payout annuities.
WINNIPEG, Feb. 14, 2008, 2008 - Great-West Lifeco Inc. today announced that its indirect wholly-owned Irish reinsurance subsidiary, Canada Life International Re Limited, has signed an agreement with Standard Life Assurance Limited, a U.K. based provider of life, pension and investment products, to assume by way of indemnity reinsurance, a large block of U.K. payout annuities.

European Insurers Expect Modest Cost for Solvency II Compliance, Accenture Survey Finds.
LONDON; Feb. 11, 2008 - More than three-quarters of large European insurers expect to spend less than €25 million through 2012 on Solvency II compliance, with more than half of those expecting to spend less than €5 million, according to results of a survey released today by Accenture (NYSE: ACN). Specifically, one-third of the insurers surveyed said they expect to spend between €5 million and �25 million on such compliance, with an even greater amount - 43 percent - saying they expect to spend less than €5 million.

Distribution

New kasina Distribution Study Concludes: Asset Managers Have to Innovate to Stay Competitive in the Future.
NEW YORK, (January 28, 2008) - Most executives are thinking alike when it comes to facing industry challenges, according a new study by kasina, a leading asset management consultancy. "The Future of Distribution: Stay the Course or Innovate" examines key opportunities asset management leaders can develop for future growth in an increasingly competitive market.

Reference and Statistics

MIB Life Index Reports North American Life Insurance Activity up 1.4% in December.
Braintree, MA. - (February 12, 2008) North American application activity for individually underwritten life insurance was up +1.4% in December, year-over-year. Canadian application activity jumped +9.2% in December year-over-year, all ages combined posting the largest net gain for a December since the Index's inception.

from Doug:

Although I would have preferred that Ontario's new February Holiday were called Heritage day, we celebrated Family Day with family. Our two sons have been here for a few days and we visited both sets of grandparents, and my brother who is just back from five weeks on a motorcycle in Mexico.
I suppose that in a sense, without Family, there would be no Heritage, so it all ties together and I should consider them one and the same ... doug


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