The Chronicle: Issue 2011-41, October 11, 2011
Distribution
The Dominion and Policy Works: Commercial Lines Data to be Electronically Exchanged with Straight-Through Processing.
October 11, 2011, - Policy Works Inc. is pleased to announce it has entered into an agreement with The Dominion of Canada General Insurance Company (The Dominion) to deliver a commercial lines data exchange solution for small Commercial business, integrating Policy Works' Commercial Management System (CMS) and The Dominion's Commercial systems.
iter8 selected to work with Saskatchewan Mutual Insurance.
September 2011: iter8, an insurance solutions software developer is pleased to announce that Saskatchewan Mutual Insurance Company (SMI) has selected iter8 as the technology partner on their independent broker download initiative for multiple broker management systems, including solutions from Applied Systems, Keal and Zycomp. The iter8 solution communic8 will be implemented to enable independent brokers to receive accurate, complete download services.
Brovada NexExchange Implemented by SGI CANADA.
Regina, SK and Saint John, NB - September 9, 2011 -- SGI CANADA is pleased to announce the launch of Brovada's NexExchange Solution beginning with a broker pilot in its subsidiary operations, The Insurance Company of Prince Edward Island (ICPEI). The initial launch will offer auto new business upload with habitational new business capabilities following in early 2012. SGI CANADA will be expanding this solution to its Alberta brokers later this year.
Custom Software Solutions Products Now Integrated with Merit Insurance Premium Financing.
September 30 2011, Virden, MB and Halifax, NS - Custom Software Solutions Inc. (CSSI) and Merit Insurance Premium Financing are pleased to announce they have entered into a connectivity agreement which sees CSSI's The Broker's Workstation (TBW), and stand alone rating and underwriting system, Intelliquote (IQ) integrate with Merit's online Broker financing system.
Hub International Acquires Coastal Insurance Services Ltd.
Chicago October 3, 2011 - Hub International Limited (Hub) announced today that its Hub International TOS (Hub TOS), British Columbia, operating unit has acquired the shares of Coastal Insurance Services Ltd. (Coastal), a Port Moody, British Columbia (B.C.)-based insurance brokerage firm specializing in insuring strata corporations and individual unit owners in B.C. for more than 25 years. Terms of the acquisition were not disclosed.
Western Financial Group announces acquisition of leading Estevan brokerage.
HIGH RIVER, AB, Oct. 7, 2011 - Western Financial Group announced today that it has acquired Border Bannatyne Insurance in Estevan, Sask. The Estevan brokerage, which has been serving the community since 1920, will now operate as a Western Financial Group office with the same trusted local staff that care.
Product Announcements
Zurich launches integrated insurance solution for commercial real estate.
Toronto, ON - October 3, 2011 - Real Estate investors and property managers are faced with the responsibility of coping with increasingly complex risks to protect resources from accidental loss and managing uncertainty. Zurich, a leading property and casualty insurance provider in Canada and globally, today launched the Real Estate Advantage that focuses on the risk management needs of commercial real estate owners and managers in Canada.
Our People
InsuranceWorks.ca - Hallowe'en Specials.
With Halloween just around the corner, we are offering special treats for the month of October: 20% off Job Postings & Resume Search. Don't worry about posting your jobs right away, you can save unused postings in your account without limit.
eBusiness and Technology
Novarica Survey of 132 Insurers Says Technology Spending to Increase Slightly in 2012, One-Third of Insurers Currently Replacing or Planning to Replace Policy Admin Systems.
October 4, 2011 (NEW YORK) - Despite the recession, insurer IT spending will not slow in 2012, according a new study published today by Novarica, a research and advisory firm focused on technology strategy in insurance and financial services.
Business of Insurance
OSFI: The Lasting Impact of the Crisis on the Global Financial System, by Julie Dickson.
September 26, 2011, Toronto, ON, to the Economic Club of Canada -- Good morning. I have been seeking a narrative to help describe the global financial crisis that began four years ago and is still being felt: from how these events are changing the way we look at the financial system worldwide, to approaches to help us better anticipate and moderate the impact of future crises.
Reference and Statistics
Fraser Institute: Highest auto insurance rates in Canada found in Ontario, BC, Saskatchewan, and Manitoba.
TORONTO, ON - October 3, 2011 - Government-run auto insurance monopolies in BC, Saskatchewan, and Manitoba continue to charge some of the highest auto insurance rates in Canada, concludes a new study released today by the Fraser Institute, Canada's leading public policy think-tank.
Social Business
Insurance-Canada.ca - Social Networking in P&C Insurance: Canada and USA.
Recent surveys in Canada and the USA appear to indicate that there is significant use of social media in the P&C insurance industry ? carriers and broker/independent agent distributors. The summer 2011 surveys by Insurance-Canada.ca about the use of social media by individuals in P&C insurers and in the P&C Broker/Agent channels indicated that LinkedIn was by far the tool of choice although about 45% of the respondents did not use social media at all.
Chronos Consulting Survey Shows Companies Utilizing Virtual Teams to Reduce Costs, Manage Productivity in Economic Downturn.
HOUSTON, TX - A research survey conducted by consulting firm Chronos Consulting has found that more companies in the U.S. and worldwide are utilizing virtual teams to reduce costs, enhance productivity and attract wider talent pools in today's volatile economic and political environment.
Marketing and the Market Place
Manulife Financial's CoverMe.com Recognized by International Business Awards As Best Insurance Website.
WATERLOO, ON, Sept. 30, 2011 - Manulife Financial's CoverMe.com website has been awarded the 2011 International Business Award for best insurance website. CoverMe.com is a direct-to-consumer website that markets individual supplemental health insurance, travel insurance, life insurance and critical illness insurance.
Consumer Information
Allstate Canada says that Despite legislation, distracted driving remains common.
TORONTO, Sept. 28, 2011 - Canadian students took to the streets in three cities this morning to find out how bad it really is on the roads in their communities. The students, who were participating in Allstate Insurance Company of Canada's Action Against Distraction "Blow the Whistle" driver tally, recorded the number of drivers who were not paying full attention during their morning commute.
Claims
I.I.I.: 2011 Already a Record-Setting Year for USA Federal Disaster Declarations.
NEW YORK, October 3, 2011 - There are still three months left in 2011, and hurricane season is not over until November 30, yet already this year will go down as record-setting when it comes to federal disaster declarations, according to the Insurance Information Institute (I.I.I.).
Insurance in the Community
Great-West Life Centre for Mental Health in the Workplace launches Managing Emotions to help build emotional intelligence in the workplace.
TORONTO, Oct. 4, 2011 - Today Canadian employers gained access to another important online tool designed to help employers improve mental health in the workplace with the launch of Managing Emotions. Developed by leading Canadian mental health researchers, Managing Emotions is the newest, evidence-based assessment tool of emotional intelligence in the workplace commissioned by the Great-West Life Centre for Mental Health in the WorkplaceTM (the Centre) and funded by Great-West Life through its national corporate citizenship program, Stronger Communities Together.
from Doug:
A wonderful Thanksgiving. The weather here in Toronto was as close to perfect as one could ever imagine for Thanksgiving - warm and sunny. We enjoyed the turkey celebration on Monday with a small family gathering, several of whom had not seen one another for some time. The drive to Guelph where our parents live presented some of Fall's colour palette, but the colour change is not yet into full swing - soon though.