The Chronicle: Issue 2011-46, November 15, 2011
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
- Predictive Analytics Hits the Road: Telematics in Action
We have noted that the use of new technologies is creating huge pools of data that can, if analyzed using sophisticated predictive tools, assist in a number of disciplines including marketing, claims, and underwriting. - Creating, Leveraging Engagement and Loyalty with Social Media
In our last post, we noted that leading independent agents and insurers in the US are finding real value in creatively using social media. Two recent articles underscore the characteristics that create the real value: Engagement and Loyalty.
Social Business
Aite Group - P&C Insurance: Learning to "Like" Social Media.
Boston, October 18, 2011 - A new report from Aite Group examines the impact of social media within the North American property and casualty (P&C) insurance industry, including specific challenges and opportunities for underwriting, marketing, distribution, and claims. Based on Q3 2011 Aite Group interviews with 15 North American P&C industry executives, the report also describes several insurance-company programs that effectively leverage social media.
Business of Insurance
Unica Insurance, Previously York Fire & Casualty, Unveils its New Brand.
November 14, 2011: York Fire & Casualty Insurance Company ("York") announced today that York has become Unica Insurance Incorporated ("Unica") and will operate under the Unica brand name.
OSFI: The Life Insurance Industry and the Long Game, Julie Dickson.
November 7, 2011: Remarks by Superintendent Julie Dickson, OSFI, to the 2011 Life Insurance Invitational Forum at Cambridge, Ontario These are challenging times. I know many of you are working long, difficult hours. People are a bit on edge. The same is true at OSFI.
IBC - Auto insurance industry reaction to Nova Scotia reforms: Commendable, but proper implementation is vital.
HALIFAX, NS, Nov. 9, 2011 - Insurance Bureau of Canada (IBC) supports the direction of Nova Scotia auto insurance reforms announced today, but expressed concern regarding the complexity of implementation issues associated with such comprehensive changes.
IBC - Insurance Industry is a Leading Economic Driver in Ontario: Conference Board.
TORONTO, Nov. 9, 2011 - Ontario's home, car and business insurance industry has a positive multi-billion dollar economic impact on Ontario's economy, according to a Conference Board of Canada study released today by Insurance Bureau of Canada.
Manulife Financial Signs Framework Cooperation Agreement with Bank of China.
TORONTO/BEIJING, Nov. 9, 2011 - Manulife Financial Corporation and Bank of China announced today the signing of a new framework agreement between the two companies. The deal marks another step forward in a relationship that has blossomed over the last 12 months. The agreement will strengthen cooperation in areas such as insurance custody and bancassurance in China, and other business arrangements in North America. The framework comes into force with immediate effect and will run for a minimum of two years.
Distribution
Ontario Brokers Association Launch New Member Service Mobile App Hereiam™.
November 10,2011 (Toronto, Ontario) Today, the Insurance Brokers Association of Ontario (IBAO) has launched a new mobile service to members called hereiam™. hereiam™ a new mobile business tool that IBAO members can use when on the go to save money, be more productive and use safely while driving.
iClarify Launches to Brokers in Atlantic Canada.
Toronto, ON November 7, 2011 As part of its continual evolution and highly anticipated national roll-out by end of Q4, SCM Risk Management Services (RMS) is excited to announce the launch of iClarify Services to Atlantic Canada for more than 150 brokerages across the region.
Desjardins General Insurance Group achieves 2 million policies-in-force milestone way ahead of plan.
Lévis (Québec), November 2, 2011 -- Desjardins General Insurance Group has hit the two million policies milestone in Canada, thanks to the growing popularity of direct insurance. DGIG's online sales have been growing rapidly in recent years, although the vast majority are still finalized over the phone with a licensed agent.
Policy and Product Management
ISI Enterprise Deployed by Trisura.
Toronto - November 7, 2011 - Trisura Guarantee Insurance Company, a Canadian-based property and casualty insurance company specializing in niche commercial lines products and Insurance Systems Inc. (ISI), a leading provider of web-based enterprise solutions for the property and casualty insurance industry, announced this month the production deployment of ISI Enterprise (formerly branded WebWriter Enterprise) as the operating platform for Trisura's Corporate Risk lines of business as of October.
Marketing and the Market Place
J.D. Power and Associates Reports: Study Finds Wide Satisfaction Diversity among Home Insurance Customers in Canada.
TORONTO: 4 October 2011 - Home insurance customers in various regions in Canada are widely diverse in their satisfaction with and perceptions of their insurer, according to the J.D. Power and Associates 2011 Canadian Home Insurance StudySM released today. In particular, customers in Quebec are considerably more satisfied than are customers in the Western and Ontario/Atlantic regions.
Technology
Gartner Says Consumerization Will Drive At Least Four Mobile Management Styles.
Barcelona, Spain, November 8, 2011 - Consumerization is now the primary driver of the mobile universe, and CIOs must be ready to embrace a range of more-flexible approaches to their mobile strategy, according to Gartner, Inc. At least four new mobile management styles will emerge as leaders because different groups of staff will demand different approaches.
Our People
IBAO: Local Broker Presented with Prestigious Wally Wood Award.
Toronto, Ontario November 9, 2011. Mr. Bryan Yetman, Chairman of the Insurance Brokers Association of Ontario (IBAO) has been awarded the 'Wallace E. Wood Memorial Award.' This award has only been presented to ten other recipients in the association's ninety one year history.
Consumer Information
IBC (NB) - Be Alarmed and Ready - Firefighters will be knocking on your door.
FREDERICTON, Nov. 10, 2011 - Insurance Bureau of Canada (IBC) is partnering with New Brunswick's Office of the Fire Marshal (OFM) and the New Brunswick Association of Fire Chiefs (NBAFC) to make sure households in the province have working smoke alarms.
Manitoba Public Insurance supports International Fraud Awareness Week: November 6-12.
November 4, 2011 - Organizations around the world, including Manitoba Public Insurance, are proactively working to protect its customers from fraudsters. Against this backdrop, Manitoba's public auto insurer is encouraging all Manitobans to raise their awareness about auto insurance fraud during International Fraud Awareness Week, November 6-12.
CIHI: Health spending to reach $200 billion in 2011.
November 3, 2011 - Total spending on health care in Canada is expected to grow by more than $7 billion this year to reach a forecast $200.5 billion in 2011. This amounts to roughly $5,800 per Canadian, about $150 more per person than last year, according to a new report released today by the Canadian Institute for Health Information (CIHI).
from Doug:
I guess our family is not helping the auto industry much. Six months ago my father gave up his car, which was almost ten years old; he gave it to my brother. A year ago my father-in-law passed away and this week his relatively new car (only 3 years) is being transferred to us. We have had our current car for ten years and a month; we bought it new then. My brother is buying it from us. He in turn is giving his van, which he bought used almost exactly ten years ago, to his daughter and her boy friend.
Two points: we tend to hang onto things for a while, and boy, time sure passes in a hurry these days - when you are having fun; as you get older.