The Chronicle: Issue 2011-02, January 11, 2011
Distribution
Lombard Canada Launches Full Import Of New And Renewal Business.
January 6, 2011 - Lombard Canada is pleased to announce that it has successfully launched full import of underwriter quotes directly into the broker Commercial Lincq? system for all lines of business, including fleet and non fleet automobile insurance. This solution eliminates any double entry that previously existed from the quoting to policy issuance stage for new and renewal business.
Keal's comXP and Lombard Canada Team up to Allow Commercial Brokers to Work with Apple's Mobile Digital Devices.
TORONTO, Ontario, Canada - January 5, 2011 - Lombard Canada Ltd. and Keal Technology are pleased to announce the next phase of their integration partnership that allows increased mobility to commercial brokers. Using Lombard Canada's Commercial LINCQ®, brokers can download Lombard''s Business Choice®, renewal policy directly into Keal's commercial management system (CMS), comXP.
Aite Group: A New Report on Financial Advisors' Use of Social Media.
Boston, December 20, 2010 - A new report from Aite Group looks at financial advisors' use of social media to support their practices. Based on a Q4 2009 Aite Group survey of 402 advisors, the report explores social media use among various types of financial advisors, and uncovers advisors? objectives behind and barriers to using social media, and the impact that social media has had on advisors' business results.
eBusiness and Technology
SMA: Using Analytics to Improve Customer Communications: A Research Study of P&C in Canada.
Insurers and brokers/agents understand that information is the lifeblood of the insurance industry - especially information about prospects and customers. But these days, the value comes more from insights gained through data analysis than the raw data itself. New information and insights that enhance communications with customers can give insurers and brokers/agents a real edge in today?s competitive property and casualty industry in Canada.
Celent Report: Hidden Costs in Modern Core Insurance Systems
At first glance, a core systems replacement project may look like open heart surgery, with all of the associated risks. The information processed and distributed by these systems is the life-blood of any insurer. A number of best practices are forming regarding core systems replacements. In a new report, Hidden Costs in Modern Core Insurance Systems, Celent examines how to ensure that the project sets off in the right direction and continues on course, and also looks at establishing the new organisation when the project lands.
Claims
Guidewire ClaimCenter selected by State Auto Insurance Companies for Claims Management.
COLUMBUS, Ohio and SAN MATEO, California, January 5, 2011 - State Auto Insurance Companies (State Auto), and Guidewire Software, a leading provider of flexible core systems to property/casualty insurers, today announced that State Auto has selected Guidewire ClaimCenter as its next generation, end-to-end claims management system. State Auto will deploy ClaimCenter for all its lines of business.
Guy Carpenter's Assessment of Global Catastrophes: Earthquakes Triggered Highest Insured Losses in 2010.
New York, December 21, 2010 - The earthquakes that devastated parts of Chile and New Zealand were the largest source of losses in 2010, costing the re/insurance industry USD8 billion and USD4 billion respectively, according to a new report by Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and a member of Marsh & McLennan Companies (NYSE: MMC).
Insurance People
SIMAC CEO only Canadian to receive 2011 Enterprising Women of the Year Award.
January 4, 2011 - Gloria Rajkumar, President and CEO of SIMAC Canada will be the only Canadian among the 50 women to be honoured at the Enterprising Women of the Year Awards in Boca Raton, Florida in March. According to Enterprising Women CEO and Publisher Monica Smiley, nominations for the 9th Annual Enterprising Women of the Year Awards poured in throughout October and November 2010, with an unprecedented number of nominees from throughout the world.
Business of Insurance
Advisen Report: Weak Economy to Prolong Soft Insurance Market.
New York (Dec. 13, 2010) - Commercial lines property & casualty insurance companies have seen the pricing gains of the 2001-2003 hard market evaporate, but there are few signs that rates will increase in 2011, according to a new report from Advisen Ltd. In the aftermath of the Great Recession, demand for commercial property & casualty insurance coverage remains depressed, but insurance capacity is abundant.
Aon Benfield: 2011 Reinsurance Market Outlook Report.
Chicago, 30 December 2010 - Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation (NYSE:AON), today releases its 2011 Reinsurance Market Outlook report, which reviews the trends experienced at the January 1 reinsurance renewals and analyzes specific challenges facing insurers and reinsurers in the year ahead.
What's Going Through The Intersection, an Insurance-Canada.ca Blog.
- Social Media & Insurance Best Practices – New ACT Report
A new report from the Independent Insurance Agents and Brokers of America, IIABA, provides practical insight on effectively using Social Media for insurance sales and Service. - IT Budget Trends 'Cloudy': New Opportunities; New Challenges
IT managers generally, and Insurance IT managers specifically, are being given additional resources to do more, according to analysts, but these come with serious business alignment requirements. This is increasing interest in Cloud Computing and Software as a Service (Saas) solutions. - Competitiveness Drives Use of Operational Data Analytics
There is increasing evidence that insurers are looking to better utilize data analytics in an operational environment to improve competitiveness in current market conditions.
Marketing and the Market Place
eMarketer: Online Ad Spending Set to Break Records.
JANUARY 3, 2011 - After 2009's downslide, US online ad spending in 2010 will rise by 13.9%, reaching a record $25.8 billion. And in that same vein, internet ad spending will hit new peaks in each of the following four years, passing $30 billion in 2012 and breaking the $40 billion barrier in 2014.
eMarketer: How Online Video Can Reach the Business Audience.
JANUARY 4, 2011 - Executives with no time for fun and games do have time for the sound and motion of video, according to findings from Forbes Insights. In some cases, they may actually prefer it to text for learning about products and services. A majority of businesspeople surveyed by Forbes in October 2010 said they watched more online video than a year earlier.
Consumer Information
Standard Life - Ipsos survey: Nearly half with workplace retirement plans don't know what their retirement income will be.
MONTREAL, Jan. 5, 2011 - Nearly half of Canadians (44%) with a group savings and retirement plan do not know what their future retirement income will be, and 41 per cent are unaware if their current rate of retirement saving is on target to meet their future income needs, according to a new Ipsos Reid survey conducted for Standard Life.
Sun Life Financial - Winter is a season - RRSP (and retirement) is not!
TORONTO, Jan. 5, 2010 - Traditionally the months of January and February are known for two things in Canada - winter and RRSP season. Although there's not much we can do about the weather, we can change the way we think about retirement. Whether you're retiring next year or 30 years from now, creating a plan and then understanding how to allocate your savings to last throughout your retirement is critical.
CIHI Report: Health Care in Canada 2010 - Evidence of progress, but care not always appropriate.
16 December 2010 - A new report released today by the Canadian Institute for Health Information (CIHI) shows that in 2008-2009, more than 3,600 therapeutic knee arthroscopies, used for diagnosing and caring for a variety of knee problems, were performed in Canadian hospitals despite mounting evidence that the procedure fails to improve patient outcomes or reduce discomfort when used to treat osteoarthritis.
from Doug:
Organizing a conference is a lot of fun, and a lot of work, specially as we try to improve each year on the previous one. Some days I am a juggler trying to keep the balls in the air; I am only one of a half-dozen jugglers swapping flying objects as we go. Still lots of prep to do, but it is coming together pretty well.
We visited parents on the weekend. Mom is doing as well as can be expected in the Long Term Care home. The dementia continues to suck away her vitality - what little conversation there is can go in any direction, when it's comprehensible.