The Chronicle: Issue 2011-21, May 24, 2011
Distribution
Brovada's NexExchange Delivers New Business Upload to Grenville Mutual Insurance Company.
Toronto, ON -- Building on the success of their inquiry functionality that went live in August 2010, Grenville Mutual Insurance Company continues to deliver on their commitment to broker connectivity as new business upload enters into final acceptance. In the coming weeks Grenville will begin the broker pilot of new business automobile upload with residential following later this year.
Excel Insurance and Risk Management implements ProspX Real-Time Collaboration and Networking Platform.
AUSTIN, TX - May 18, 2011 - ProspX, Inc., developer of the first on-demand search and sales collaboration solution for the commercial insurance industry, today announced that Excel Insurance and Risk Management, Inc., has implemented ProspX. The platform enables their sales organization to connect and collaborate internally within their global partner network and externally across the insurance carrier landscape.
ASCnet offers scholarship to technology conference.
University Park, Illinois - May 19, 2011 - Applied Systems Client Network (ASCnet) is accepting applications for a scholarship that will allow an ASCnet member to attend the organization's 2011 annual conference in September in Orlando, Fla.
Product Announcement
Creechurch International Expands Product Offering with new Crime/Fidelity Insurance Policy.
TORONTO, May 16 2011 - Recent high profile fraud and embezzlement cases highlight the need for effective protection of corporate assets. And new research shows that employers are seeing a marked increase in internal crimes. Today Creechurch International Underwriters Ltd. introduces a stand alone Fidelity Insurance Policy to address this heightened exposure. Part of the new PlatinumPlus suite of management liability products, this cutting edge insurance policy offers market leading coverage for a wide range of exposures that Canadian companies face.
Claims
FINEOS Claims Goes Live at Leading Property & Casualty Insurer, FBD.
Dublin, Ireland, May 20, 2011 - FINEOS Corporation, a market leading global provider of claims management software solutions, today announced the successful go live of FINEOS Claims at FBD Insurance. FBD is one of Ireland's top three P&C insurance companies offering a full range of personal and commercial lines of business. The company writes business directly over the web through www.FBD.ie and via their distinctive 'No Nonsense' internet brand (www.NoNonsense.ie), by telephone and through a network of independent sales agents, partners and nationwide FBD-owned branch offices.
Managing Relationships and Customer Service
Guidewire Billing Solution implemented by Elephant Insurance.
RICHMOND, Va. and SAN MATEO, Calif., May 19, 2011 - Elephant Insurance, a direct-to-consumer writer of automobile insurance, and Guidewire Software®, a leading provider of flexible core systems to property/casualty (P/C) insurers, today announced that Elephant is in production with Guidewire BillingCenter and is realizing significant benefits from its use of the system.
Policy and Product Management
Exigen Suite Selected by AMI for Policy Administration, Billing and Claims Management.
San Francisco, Calif., May 09, 2011 - Exigen Insurance Solutions®, a leading provider of insurance core systems, today announced that AMI, the largest wholly New Zealand owned fire and general insurance company, has selected Exigen Insurance Solutions' underwriting, policy administration, billing and claims solutions for all lines of business. The Exigen Suite applications PolicyCore, BillingCore and ClaimCore will allow AMI to introduce a new, high-performance enterprise platform on which it will deliver industry-leading customer care to policyholders.
Marketing and the Market Place
Manulife Investor Sentiment Index: Canadians' investment optimism jumps in latest quarter.
WATERLOO, ON, May 13 2011 - Canadians' optimism towards investing climbed in the first quarter of 2011, with improved sentiment towards a range of investment types, including stocks, fixed income, investment properties and balanced funds, according to the latest Manulife Investor Sentiment Index.
Business of Insurance
OSFI Plan and Priorities for 2011-2014.
OSFI's long-term priority was updated in 2010 to better reflect the current economic environment and remains focused on anticipating and addressing risks from economic uncertainty and regulatory change. We are continuing to effectively monitor and manage the more dynamic, increasingly complex regulatory and financial environments, both internationally and domestically, while the volume and pace of new issues are increasing.
Insurance in the Community
Aviva Canada: OPP Teddy Bears take to the road to help distressed kids.
May 18, 2011 - (TORONTO, ON)? The Ontario Provincial Police (OPP) and Aviva Canada Inc. have jointly launched a new program that will enable OPP officers to comfort distressed children they encounter in the communities they serve. Through the sponsorship of Aviva Canada Inc., the Community Bear Program will equip OPP cruisers with black and white teddy bears that officers will hand out to children who have experienced a traumatic incident.
Consumer Information
Sun Life Wellness Institute partners with Ivey Business School in ground-breaking study on the impact of workplace wellness programs.
TORONTO, May 16 2011 - Sun Life Financial today announced the launch of the new Sun Life Wellness InstituteTM and a pioneering partnership with the Richard Ivey School of Business to conduct research on the return-on-investment of workplace wellness programs for Canadian employers.
Allstate Canada Offers Ways to Prepare Against the Threat of Wildfire.
CALGARY, May 10, 2011 - Wildfires are a natural hazard in any forested and grassland region in Canada. Typically, the wildfire season in Canada runs from April through to October. The months of June, July and August see the most fires and the fires that burn the largest amount of land. As we enter another wildfire season, and since wildfires can leave us with little warning before they spread, it is important to take the proper precautions and remind ourselves of what to do if a fire is headed our way.
Insurance Bureau of Canada Deploys Community Assistance Mobile Pavilion (CAMP) to Slave Lake, Alberta.
EDMONTON, May 17 2011 - In response to destructive wildfires that consumed much of the Town of Slave Lake, Alberta, Sunday night, Insurance Bureau of Canada (IBC) has deployed its Community Assistance Mobile Pavilion (CAMP) to help impacted residents and businesses.
IBC: Canada Road Safety Week - Insurers offer tips for drivers.
HALIFAX, NS, May 17 2011 - During Road Safety Week (May 16 to 23), Insurance Bureau of Canada (IBC) reminds Canadians that distracted driving is about more than using hand-held devices. Distractions come in many forms and although putting down the cellphone when driving is a good first step, drivers are urged to limit all distractions. Eating behind the wheel, fiddling with the radio and reaching for a fallen object are just a few examples of distractions that are dangerous and avoidable.
ICBC: High-risk driving campaign reminds us to make smart decisions.
May 6, 2011 - This morning, the province, the police and ICBC launched a month-long campaign to help raise awareness about the importance of smart driving behaviours and the impact of high-risk driving on our roads. One thousand pairs of shoes set the backdrop for today's event, representing a small portion of the 76-thousand people injured in crashes each year in B.C.*
IBAO Brokers Shed Spotlight on Soaring Insurance Rates.
(Toronto, Ontario) - May 16, 2011 -Today, the Insurance Brokers Association of Ontario (IBAO) launched its consumer website, www.SoaringInsuranceRates.ca as part of the association's public consumer protection campaign to ban the use of credit scoring in home and other personal property insurance. Currently, a growing number of insurers are using a person's credit score to measure their insured risk. This has led to an increase in insurance premiums or an outright denial of insurance to many Ontario consumers.
from Doug:
While many, hopefully including you, were celebrating the long Victoria Day weekend, my family remembered two of our own. My Uncle passed away in December and Mom in January. As they were both being buried in the same cemetery at the church where I, my three brothers, my Dad and his siblings were all christened, we asked the minister to do double duty. With a very easy manner, the official defused a potentially emotional occasion and made it an easier interment. Friends, relatives and neighbours remembered, and then shared the occasion. We briefly visited the farm where I and Dad grew up afterwards; an enjoyable and appropriate conclusion to day. .