The Chronicle: Issue 2011-19, May 10, 2011
eBusiness and Technology
Eastern Shore Consulting - "The Company you Keep" Intangible Qualities of Software Vendors: by Bill Garvey.
When carriers ask me what's out there in the world of software solutions I can confidently tell them many good options currently exist for Policy Administration, Rating, Claims and Billing. Vendors have matured in their abilities to meet functional requirements, develop systems that perform well in carrier environments, and they have learned how to install their applications. As vendors gain more live experience, the test bed of reality strengthens their applications often at the expense of an insurance company, but the lessons move solutions forward, not backward.
Sapiens Teams with KPI to Deliver Business Decision Management System.
Cary, N.C. - April 26, 2011 - Sapiens International Corporation N.V., a global provider of innovative software solutions and a member of the Formula Group, announced today that it has partnered with Knowledge Partners International, LLC (KPI), the originator of The Decision Model, a thought leader and innovator in the field of Business Decision Modeling and Requirements, to deliver DECISION - an innovative business decision management solution - to the market.
Gartner Says CIOs Must Take Steps to Manage Risk and Unexpected Costs During the Cloud Sourcing Revolution.
STAMFORD, Conn., April 28, 2011 - The $820 billion IT services market is changing quickly and dramatically, as cloud computing and offshoring become mainstream, and CIOs should take steps to manage inherent risks and unexpected costs during the cloud services revolution, according to Gartner, Inc.
Our People
InsuranceWorks.ca: Get 30 Days Free Resume Search with 2 Job Postings!.
May 2011 -- For the month of May, InsuranceWorks.ca is giving away 30 days of free resume search on all 2 Job Posting purchases. Its jobseeker community has surpassed the 30,000 mark, giving its Employers and Recruiters even greater access to the best insurance talent across Canada.
Claims
FirstOnSite: Responding to Major Storms.
3 May 2011, Toronto - Disaster can strike at any time and most homeowners hope they never have to deal with a substantial insurance claim for their property. Over the last week in Southern Ontario, many homeowners weren't so lucky. A strong wind storm moved through the Niagara and Hamilton region leaving a swath of destruction right through to the Ottawa area.
Mitchell RepairCenter™ ; Adds Diagnostic Trouble Codes To Complement TechAdvisor Repair Procedure Data.
San Diego, CA - May 2, 2011 - Mitchell International, Inc., a leading provider of technology, connectivity and information solutions to the Property & Casualty claims and Collision Repair industries, today announced that Diagnostic Trouble Codes (DTCs) are now fully integrated into RepairCenter™ TechAdvisor, simplifying and accelerating collision repair processes for technicians by connecting them with DTC information instantly within their RepairCenter workflow.
Business of Insurance
Conning Research: Increased Longevity Awareness Expands Retirement Income Opportunities for Insurers.
(Hartford, CT) April 27, 2011-The transfer of longevity risk creates a tremendous growth opportunity for insurers who develop and distribute retirement income products. However, profitable growth depends on managing the risks associated with these products, according to a new study by Conning Research & Consulting.
Reference and Statistics
MIB Life Index Reports U.S. Life Insurance Activity Up Slightly in March.
Braintree, MA. - (April 18, 2011) U.S. application activity for individually underwritten life insurance was up slightly in March, +0.6% year-over-year all ages combined, according to the MIB Life Indexsm. The modest uptick is more earnest than at first glance, given its year-over-year juxtaposition against the +2.4% percent increase for March 2010. Prior to 2010, the U.S. Life Index for March has invariably lost ground in each of the last five consecutive years.
RIMS Benchmark Survey™ - Commercial insurance premiums again tumble as capacity grows.
NEW YORK (April 25, 2011) - What appeared to be an effort by underwriters to hold the line on premiums gave way under the pressure of a highly overcapitalized market in the first quarter of 2011, according to the RIMS Benchmark Survey™, administered by Advisen Ltd. Three of the four lines of business tracked by the survey posted material decreases in average renewal premium, as reported by risk managers.
Consumer Information
FirstOnSite Restoration Working with BMO to Arrange Loans for Flood Victims.
WINNIPEG, MANITOBA, May 4, 2011 - Canada's top disaster mitigation specialists are coming to the rescue of Manitoba residents in more ways than one this flood season. FirstOnSite Restoration has teamed up with the Bank of Montreal (BMO) to help speed up the process for homeowners in the province who are affected by flooding.
LIMRA: Employees Across All Generations Value Employer-Sponsored Benefits - But Most Don't Understand the Actual Costs.
WINDSOR, Conn., Apr. 18, 2011 - Most employees - both younger and older - feel that benefits like medical insurance, defined contribution plans and dental insurance, are important; yet four out of 10 employees lack any knowledge of how much their medical insurance costs and of the 60 percent of employees who think they know the cost of their medical insurance, just 15 percent were able to provide a reasonable estimate.
MPI: Don't let flood waters 'write-off' your ride: move your vehicle to safe ground.
April 26, 2011 - Like oil and vinegar, vehicles and water just don't mix. Flood waters entering a vehicle can potentially result in extensive damage and cause additional inconvenience at a stressful time, explains Manitoba Public Insurance."Water in a vehicle can potentially damage the mechanical and electrical components, which may result in the vehicle being written off," said Christine Martin, Vice-President, Service Operations, Manitoba Public Insurance.
PCI Offers Tips For Recovery From Tornado Outbreak.
CHICAGO April 28, 2011 - The Property Casualty Insurers Association of America (PCI) today is offering recovery tips for homeowners, renters, business owners affected by Wednesday's outbreak of deadly tornadoes across the southeastern United States.
Marketing and the Market Place
eMarketer: Marketers Shift Primary SEO Metrics and Objectives.
MAY 2, 2011 - Search engine optimization gives companies a natural and more sustainable search engine presence than paid search advertising, which marketers can use to generate website traffic and online conversions.In the past, marketers have relied on SEO for both objectives. However, annual findings from Search Engine Marketing Professional Organization (SEMPO) and Econsultancy suggest companies worldwide are increasingly using SEO primarily to drive site traffic.
Policy and Product Management
MSB Launches New California DOI Insurance to Value Education Course.
Milwaukee, WI - (April 19, 2011) - Marshall & Swift/Boeckh (MSB) announced today that they have launched a new course through their Virtual Academy - specifically designed to satisfy the recently adopted California Department of Insurance regulation #2010-00001. This course is certified by the state of California with their new ITV designation for the full 3 hours of credit required. Insurance agents and brokers are now required to provide specific home characteristics and cost details related to insurance to value when dealing with consumers.
Managing Relationships and Customer Service
KANA Receives Customer Interaction Solutions® Magazine's 2010 Product of the Year Award.
SUNNYVALE, Calif. - April 18, 2011 - KANA Software, the world leader in software solutions for Service Experience Management, announced today that KANA SEM has received a 2010 Product of the Year Award from Technology Marketing Corporation's (TMC®) Customer Interaction Solutions magazine, the leading publication covering CRM, call centers, and teleservices since 1982.
from Doug:
This week's issue comes from Elgin, east of Inverness, in Scotland. Since the last issue, I explored parts of Aberdeen while my wife spent two days in local archives doing family research. Then with a rental car we visited a distant relative whom we last saw in 1992, then took a ferry to the Orkney Islands. For two days we drove over hill and down dale enjoying their rich history, as far back as 5,000 years at Skara Brae and more recent through Celt, Pict, Norse and medieval times. John Moodie, husband of Susanna Moodie was an Orcadian, born on the island of Hoy. One day of travel from Kirkwall to Elgin (east of Inverness) took us by the home and birthplace of Sir John A MacDonald's grandfather (John m. Jean?) and father (Hugh) at Rogart and the village of Dornoch nearby where Hugh later owned a general store close by the cathedral. In Rogart there is a cairn to Sir John A., erected in 1968. And today we were into family research again here in Elgin after viewing named farmlands near Keith last evening. Parish records indicate that one of my wife's McWilliam ancestors lived and worked on one of those farms in 1709 - over 300 years ago.