The Chronicle: Issue 2011-31, August 2, 2011
Distribution
iter8: Trillium Mutual completes Download Initiative.
July 2011: iter8, an insurance solutions software developer is pleased to announce that Trillium Mutual Insurance Company has gone live with their independent broker download initiative for brokers using the PowerBroker agency management system. At its completion the project will enable independent brokers using TAM, sigXP, TBW or CIM-Data systems to receive accurate, complete download services.
kasina Study Finds That Hybrid Wholesaler Productivity is Comparable to Field Wholesalers at Half the Cost.
New York, (June 23, 2011) - Firms without hybrid wholesalers lack a means of pursuing additional business opportunities affordably and profitably, according to kasina's latest study on Excellence in Distribution: Hybrid Wholesaling. Yet hybrid wholesalers are an untapped resource at 42% of asset management and insurance firms.
Claims
The Co-operators goes to court to combat auto insurance fraud in Ontario.
Guelph, ON, July 29, 2011 - As part of its ongoing efforts to combat auto insurance fraud in Ontario, The Co-operators announced today that it has filed a Statement of Claim (SOC) with the Ontario Superior Court of Justice against five Toronto-area assessment clinics. Co-operators General Insurance Company and its subsidiary COSECO Insurance Company are seeking $7 million in damages, following more than a year of intensive investigation.
Munich Re: Accumulation of very severe natural catastrophes makes 2011 a year of unprecedented losses.
12 July 2011 - An exceptional accumulation of very severe natural catastrophes makes 2011 the highest-ever loss year on record, even after the first half-year. Already, the approx. US$ 265bn in economic losses up to the end of June easily exceeds the total figure for 2005, previously the costliest year to date (US$ 220bn for the year as a whole). Most of the losses were caused by the earthquake in Japan on 11 March.
Guidewire Selected by Texas Mutual Insurance for Claim Management Solution.
Austin, TX and San Mateo, CA (July 27, 2011) -- Texas Mutual Insurance Company, Texas' leading provider of workers' compensation insurance, and Guidewire Software®, a leading provider of flexible core systems to property/casualty insurers, today announced that Texas Mutual has selected Guidewire ClaimCenter® as its next generation claim management system. ClaimCenter will replace the company's existing claim system.
Marketing and the Marketplace
Accenture Survey Finds Significant Gap Between Expectations and Reality with Insurance Customer Satisfaction.
LONDON; July 21, 2011 – There are significant gaps between what consumers want from their insurers and what they feel they are receiving, even though overall satisfaction levels are high, according to an Accenture survey of 7,000 people from 13 countries.
Manulife Financial Investor Sentiment Index: Real Estate drives investor confidence.
WATERLOO (July 27, 2011) - The results of the Manulife Financial Investor Sentiment Index announced today demonstrate that, in spite of the uncertainty surrounding the global economy, Canadians continue to be cautiously optimistic in their attitudes towards investing. The findings indicate particular optimism relative to real estate; this quarter, confidence in investment property increased markedly, despite the heightened concern around interest rates also recorded by the survey.
eMarketer: Marketers Look to Boost Lead Gen, Customer Targeting.
JULY 28, 2011 In the past few years, a tightened economy and a maturing online advertising industry have amplified the need for marketing programs that not only support brand-based initiatives and sales programs but also contribute directly to the company's bottom line.
Managing Relationships and Customer Service
LIMRA Examines Life Insurance Customer Use of Online Services.
WINDSOR, Conn., July 25, 2011 — In a recent study of life insurance policyowners, LIMRA found that one in two have visited their life insurer's website and 70 percent of those who visited, did so to use the online services. With Internet usage growing almost 150 percent in the last decade, it is vital that companies understand who their online audience is and what their expectations are and develop a website that offers the important services that these customers say they want.
Pitney Bowes Business Insight survey finds Trust Determines 22 to 44 Percent of Customer Loyalty.
Las Vegas, June 06, 2011 - Insights 2011 User Conference-- Pitney Bowes Business Insight, a global leader in customer data, analytics and communication software and services, today released a research study on The Role of Trust in Consumer Relationships. Conducted by the ECSP Europe Business School, the study illustrates that communications from a service provider is one of the leading influencers of trust. Customer communications drives more than 20 percent of overall trust of the company, impacting length of customer relationships, business profitability and customer advocacy or word-of-mouth experience.
Social Business
Novarica: Older Adults, Social Media, and Implications to L&A Carriers.
Jul. 26, 2011 - The recently published Pew Internet & American Life Project poll indicates that social networking use among internet users ages 50 and older has nearly doubled - from 22% to 42% over the past year. Furthermore, the survey indicates that nearly half (47%) of internet users ages 50-64 and more than a quarter (26%) of users ages 65 and older now use social networking sites.
eBusiness and Technology
Information Builders' iWay Software Expands Social Network Integration.
NEW YORK, NY - July 6, 2011 - iWay Software, an Information Builders company and an innovator of enterprise integration solutions, today announced the availability of an upgraded version of iWay CEP Enable, its unique integration platform that turns real-time data and events (inside and outside of the enterprise) into actionable information, helping organizations improve their business with faster, more informed decision-making.
Consumer Information
ICBC's top five tips for teens behind the wheel.
July 14, 2011 - The weather is hot, school is out and now your teenager wants to hit the road – in your car. In 2010, more than 49,000 teens got their first B.C. driver's licence. Once your teen has passed a knowledge exam and vision test, they can get behind the wheel – with some restrictions. Driving is especially risky when you lack experience as a new driver. Not only are new drivers more prone to crash, one in four of their crashes result in an injury or fatality.
TD Waterhouse Canadians and Retirement Report: The secrets to a fulfilling retirement? Finding the right advisor and staying active.
TORONTO, July 7, 2011 - Canadian retirees who are getting help from their advisors are feeling confident about their retirement savings, finds the TD Waterhouse Canadians and Retirement Report. The survey of retirees from across the country, aged 55-70, found that 76% of retired Canadians are using an advisor to manage their investments.
IIHS: 50 years of automobile safety progress - Where do we go from here?.
Fifty years ago, in 1961, the motor vehicle crash death rate had just reached an 11-year low of 49.2 per billion miles of travel on public roadways. The death rate was destined to increase in succeeding years, peaking at 55 deaths per billion miles of travel in 1966. Then began a long period of almost annual decreasing fatality rates, falling to a low of 11.3 deaths per billion miles of travel in 2009.
from Doug:
A summer long-weekend in the city. One of our sons visited. A walk on Saturday took us through Mountain Equipment Coop (had not been for some years; tons of variety in their specialty areas), by the old John Street Roundhouse (several old rail engines), through Sugar Beach (great to see lots of people enjoying the sand and sun) and the just-opened Sherbourne Common (an interesting mix of playground, park, public art and a storm water treatment centre). On Sunday we did a bike ride to the tip of the Leslie Street Spit, which protects Toronto's Outer Harbour from Lake Ontario. Monday I spent the day at Historic Fort York, where Lieut. Governor David Onley addressed the crowd. The fort will be one of the key Toronto locations for the celebrations around the War of 1812 bicentennial starting early next year.