Issue 2009-40 -- Ocotber 6, 2009

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

Keal Technology and Advantage Financing Announce Partnership.
TORONTO, Ontario, Canada - September 24, 2009 - Today, at the 'CSU and Keal, Partners in Education Users Conference,' Keal Technology and Advantage Financing jointly announce a newly formed partnership. Keal has chosen Advantage Financing as their exclusive premium financing partner. The partnership includes real-time upload from Keal's sigXP, broker management system (BMS), to Advantage Financing's web interface to quote and submit business. Existing clients are now 80% more efficient with the enhanced workflow.

Univeris White Paper: Financial Advisors need to set bar higher; research shows 'client engagement'* is what really matters.
Toronto, ON - September 30, 2009 - Clients' expectations, needs and desires regarding their relationship with their advisors forever have changed. Research shows that clients have set a new playing field for their relationships with advisors, which can have significant impact on future practice growth.

Consumer Information

Are you road ready? CAA provides you tips to get ready for fall and winter driving.
THORNHILL, ON, Sept. 29 2009 - As temperatures start to dip and our roadways get slicker with the change of season it's time to give your car its seasonal check-up.Motorists spend a great deal of time on the road during the summer months giving their vehicles a good work out. The toll of Canada's changing seasons can easily turn minor car maintenance problems into automotive emergencies.

YourMortgagePlan.ca Helps Mortgage Professionals Document the Homebuying Process: Genworth.
TORONTO, ON, September 30, 2009 - Mortgage professionals have a new resource to help them document the needs and homeownership goals of prospective homebuyers, thanks to a unique planning guide designed by Genworth Financial Mortgage Insurance Company Canada ("Genworth Financial Canada").

Marketing and the Market Place

Hopes and Fears of Social Media Marketing: eMarketer.
SEPTEMBER 29, 2009 - It's not news to online retailers that social media adoption is on the rise. Three-quarters of US Web retailers surveyed by the e-tailing group and PowerReviews in August–September 2009 for their "Community and Social Media Study" said they thought brands were accelerating their use of, and commitment to, social media.

Business of Insurance

The insurance industry increasingly important in the Quebec City and Lévis region: Growth continues, employment is up and momentum outside of Quebec intensifies.
QUEBEC CITY, Sept. 28 2009 - "Insurance companies in the Quebec City and Lévis region are continuing their growth, continuing to create new jobs and continuing to gain market share, including sales outside of the province," said Yvon Charest, president of the Insurance and Financial Services Development Centre (Centre de développement en assurances et services financiers). "Together, the companies make up one of the most dynamic industries in the Quebec City Chaudière-Appalaches region." Mr. Charest was commenting on updated economic indicators for the region's insurance companies, comparing data from the end of 2008 to that of the end of 2005.

"Evolving Role of the Actuarial Profession" by Superintendent Julie Dickson, OSFI, To the Actuaries Club of Toronto.
Toronto, Ontario, September 23, 2009 - In these turbulent economic times, actuaries both in Canada and abroad, are playing an increasingly important role in the proper functioning of financial service businesses. In Canada, the profession is uniquely recognized in legislation related to insurers. However, the pace of change today is unrelenting, and the profession needs to constantly re-examine its evolving role.

Manulife-Sinochem Expands Again in China.
TORONTO, Sept. 25 2009 - Manulife Financial today announced that it is expanding again in China, with confirmation that Manulife-Sinochem Life Insurance Co. Ltd. has received approval from the China Insurance Regulatory Commission (CIRC) to operate in the Province of Tianjin, one of China's fastest growing provinces.

Industrial Alliance to Enter Socially Responsible Investing Marketplace Through a Long-term Strategic Relationship with Vancity.
VANCOUVER, Oct. 1 2009 - IA Clarington Investments Inc. ("IA Clarington"), a wholly owned subsidiary of Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance" or "IA"), and Vancouver City Savings Credit Union ("Vancity") announced today they have entered into a definitive agreement whereby IA Clarington will purchase the socially responsible investing ("SRI") mutual fund business of Inhance Investment Management Inc. ("Inhance"), a wholly owned subsidiary of Vancity, and enter into a long-term strategic relationship for the distribution of IA Clarington mutual funds through Vancity branches.

USA P/C Industry's Net Income and Overall Profitability Tumbled in First-Half 2009: ISO.
JERSEY CITY, N.J., Sept. 28, 2009 - Private U.S. property/casualty insurers' net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers' overall profitability as measured by their annualized rate of return on average policyholders' surplus (or statutory net worth) dropped to 2.5 percent in first-half 2009 from 5.5 percent in first-half 2008.

Managing Relationships and Customer Service

CIGNA Works with IBM to Transform Customer Experience.
ARMONK, N.Y. & BLOOMFIELD, Conn - 22 Sep 2009: CIGNA today announced the initial results of its multi-year strategy that places an entirely new focus on improving customers' experience. The effort has led to an improvement in customer understanding of their benefits in excess of 100 percent, a 50 percent reduction in the number of printed materials customers receive, and the use of simpler language that doesn't rely on insurance jargon. It also led CIGNA to become the first in its industry to offer 24 hour-a-day, seven day-a-week customer service.

United Automobile Insurance Deploys Guidewire for Claims - Success Leads to Selection of Guidewire for Billing.
NORTH MIAMI GARDENS, Florida and SAN MATEO, California – September 29, 2009 – United Automobile Insurance Company (UAIC), one of the largest privately held property and casualty insurers in the U.S., and Guidewire Software, a leading provider of flexible core systems to property/casualty insurers, today announced that UAIC has successfully deployed Guidewire ClaimCenter® as its new end-to-end claims management system. The company has also selected Guidewire BillingCenter® to provide single system agency- and direct-bill functionality for its entire organization.

Claims

USA: Comparative loss information under six coverages, from the Highway Loss Data Institute (HLDI).
This data and graphical representation presents comparative loss information for the USA over varying periods of time (mostly 2006-2008) for six major coverage areas: collision, property damage liability, comprehensive, personal injury, medical payment and bodily injury liability.

Policy and Product Management

European Policy Administration Systems 2009: Life and Pension ABCD Vendor View: Report Published by Celent.
Interest in policy administration offerings for insurance has surged in recent months, and a number of systems have emerged in the past few years. Celent profiles a majority of the life and pension insurance administration systems available in Europe today.

eBusiness and Technology

IT Spending for Property and Casualty Insurers Flat through 2010: PCI.
CHICAGO - September 28, 2009 - Gartner and the Property Casualty Insurers Association of America's (PCI) fourth annual joint Information Technology (IT) spending survey found that the planned IT spending increase from 2008 to 2009 is 1.6 percent. This is very close to Gartner's prediction of 1.9 percent from last year. It is however sharply down from the 8.1 percent planned increase from 2007 to 2008. Based on the data collected the planned increase in spending from 2009 to 2010 will only be around 0.2 percent. This slight increase is expected despite the fact that companies are on average predicting a decrease in revenue of 3.7 percent from 2008 to 2009.

from Doug:

Technology challenges usurped my weekend. Just as I was starting to populate a new laptop, my laser printer decided to stop working. A trip to my usual retailer and I now own a colour laser printer with duplex capability. That worked readily on my laptop when connected directly. Setting it up on our home network was not so simple. Our eldest son, now away from our home, had always been our technical support. When the setup did not complete as it should have, I had then to learn what and how he had set up the router, the bar-of-soap-sized print server and the printer. I eventually managed my way through those but was stymied by the final port configuration step, which would just not work. Finally I stumbled across an operating system firewall on the computer's network adapter. Once turned off, the installation completed successfully. After installing the printer software on two more computers, we are now back in business - and technology owes me one weekend.


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