The Chronicle: Issue 2012-16, April 17, 2012
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
- Bring Your Own Device Movement Gaining Momentum, Providing Lessons for Insurers
Bring Your Own Device – aka BYOD – is gaining momentum for all the right reasons, even with a customer that would be the most concerned about the scheme. - Brokers Ready to Benefit from Insurance Telematics. (Are You Surprised?)
Brokers who are prepared to invest in some education and possibly technology could be positioned to use their 'trusted advisor' status to benefit from a trend to Telematics insurance programs.
Distribution
Policy Works announces that Intact Insurance has become the first private sector insurance company to offer its brokers enhanced connectivity and data exchange capabilities.
April 10th, 2012 - Policy Works is pleased to announce that Intact Insurance has become the first private sector insurance company to offer its brokers enhanced connectivity and data exchange capabilities. Policy Works' portfolio download enhancement will enable brokers to process their entire commercial lines portfolio of either new insurance applications or renewals in batch mode.
Kanetix.ca launches first of its kind commercial insurance quote service for Alberta businesses.
TORONTO, April 12, 2012 - Online comparison service, Kanetix.ca, to feature SGI CANADA commercial auto quotes, as well as commercial property quotes aimed at contractors, tradespeople and professionals in Alberta's oil industry.
Applied Systems to open data center in Canada.
University Park, Ill. - April 10, 2012 Insurance software company Applied Systems today announced plans to open a Canadian data center in the third quarter of 2012, providing additional data storage for the growing number of insurance brokers who choose online broker management systems and request data storage within their national borders. The facility will be Applied Systems' third data center and its first outside the United States.
Burns & Wilcox Canada Opens Atlantic Canada Office with Plans for Growth.
April 4, 2012 - TORONTO -- Burns & Wilcox Canada is opening a new office in St. John's, Newfoundland, as the first step in the company's plans to build a strong presence in Atlantic Canada. As an international market leader in wholesale specialty insurance, Burns & Wilcox provides brokers with the highest standard of client service including scope of offering, depth of expertise and an unparalleled commitment to service. It's a combination the company feels is well suited to address the needs of the Atlantic Canada broker community who are looking to provide clients with the best coverage options.
Product Announcements
Industrial Alliance Launches Mobiliz, a Revolutionary Program to Improve Driving Behaviours of Young Drivers.
QUEBEC CITY, April 11, 2012 - Today, Industrial Alliance, Insurance and Financial Services Inc. has launched Mobiliz, a societal initiative aimed at improving driving behaviours and combating the speeding plague among drivers aged 16 to 24. Mobiliz is a new revolutionary auto insurance program based on the "Pay-As-You-Drive" concept, whose premium is primarily based on the drivers' behaviours than on their being part of a specific age group or on their claims history. Youths who adopt responsible driving behaviours can therefore benefit from the lowest rates in the industry.
Claims
Symbility Completes Acquisition of MSB's Claims Division.
TORONTO, ONTARIO -- (April 11, 2012) Symbility Solutions Inc.® ("Symbility"), a wholly-owned subsidiary of Automated Benefits Corp.® , provider of accurate and easy-to-use claims processing and estimating software for the property and casualty insurance industry, has closed the previously announced transaction to acquire Marshall & Swift/Boeckh, LLC's ("MSB") claims division . MSB is a wholly-owned subsidiary of Decision Insight Information Group, Inc.
Our People
InsuranceWorks.ca launches new mobile site!!!
Insuranceworks.ca recently launched our new mobile website which now allows jobseekers to view jobs on their mobile phone or tablets. A recent World Bank report noted that mobile phones were 'the single most powerful way to extend economic opportunities and key services to millions of people '. Mobiles have become an integral part of our lives in this current day and age. They help us keep in touch with the world where ever we are and, as a result, have brought us closer together.
White Paper: Evaluating Core Systems in the Cloud - SaaS for Policy, Billing or Claims
Transitioning core systems to software-as-a-service (SaaS) represents one of the cloud's biggest pay-offs for insurers. This complimentary white paper helps insurance business and technology managers to evaluate the SaaS option and arrive at the right strategy by explaining:
- benefits and risks associated with cloud computing;
- features and functions insurers should look for in a SaaS core system;
- approaches that can be taken to understand the business and technological fit of SaaS core systems in your organization;
- strategic business value of SaaS core systems.
Marketing and the Market Place
Celent: The Customer, Google, and UK Car Insurance.
April 3, 2012 - In a new report, The Customer, Google, and UK Car Insurance: Lessons from Evolving Customer Search Behavior, Celent reviews the history of car insurance in the UK and examines more recent search data to understand how consumers are responding and what they are looking for. Celent examines how searches for keywords in Google's search engine have changed, and even the rise of mobile as the new platform for searching.
CFIB Business Barometer® Rise in small business confidence shows stable & growing economy.
Toronto, April 4, 2012 - With its seventh-consecutive monthly gain since late last summer, small business sentiment has now returned to what can be considered normal for a sustainably growing economy. The Canadian Federation of Independent Business' (CFIB) Business Barometer® Index climbed to 67.7 in March, more than a point and a half above February's level and six points above its August 2011 low.
Technology
Accenture & SAS Institute Team to Help Folksam Meet Solvency II Requirements.
STOCKHOLM; April 3, 2012 - Accenture will team with SAS Institute to implement the SAS Risk Management for Insurance solution group-wide at Folksam, one of Sweden's largest insurers, to help comply with the Solvency II directive's legal reporting requirements. Folksam selected the SAS Risk Management for Insurance solution late last year. In February 2012, SAS Institute selected Accenture to help implement the solution at Folksam.
Gartner Outlines Five Cloud Computing Trends That Will Affect Cloud Strategy Through 2015.
STAMFORD, Conn., April 2, 2012 - Continual monitoring of cloud computing trends, with regular updates to the enterprise's cloud strategy, will be essential to avoid costly mistakes or miss market opportunities over the next few years, according to Gartner, Inc. Although the potential for cloud computing is significant, the breadth and depth of the impact, as well as the level of adoption over time, are uncertain and will require frequent review.
Business of Insurance
Conning Research: 2011 U.S. Insurance Mergers & Acquisitions Up, With Shift to Strategic Transactions.
(Hartford, CT) March 28, 2012 - Insurance mergers and acquisitions in the U.S. continued to gain momentum in 2011, with a focus on strategic transactions. Transactions increased in every market segment, including property-casualty, life-annuity, health, distribution and service firms, according to a new study by Conning Research & Consulting.
Insurance in the Community
Aviva Canada and Eva's Initiatives Working Together to Prevent Youth Homelessness.
April 12, 2012 - (Toronto, ON) - On this International Day for Street Children, Aviva Canada Inc. - one of the country's leading providers of home, automobile, recreational vehicle, group and business insurance - is proud to announce its new partnership with Eva's Initiatives, a recognized pioneer in providing services for homeless and at-risk youth.
Consumer Information
Allstate Canada explains what determines home and car insurance rates.
TORONTO - April 10, 2012 - Seventy-one per cent of Canadians admit they are not very familiar with their insurance policies, shows a study by Allstate Insurance Company of Canada, and this confusion can lead to people not having enough coverage or not getting the full benefits of their coverage when they need it most. Allstate Canada believes that Canadians can make better decisions about their home and car insurance if they better understand how rates are calculated.
IBC offers Earth Month tips to prepare for severe weather.
VANCOUVER, April 9, 2012 - April is "Earth Month" and it's a time to remember that severe weather is becoming more frequent and there are things we can do at home to be better prepared. During spring, many begin their gardening and start "spring cleaning" around the house. This is an opportunity to start thinking about making home improvements to protect your home against water damage caused by the more severe storms ahead.
OPP Releases 2011 Traffic Statistics.
AURORA, ON, April 4, 2012 - The results are in for the Ontario Provincial Police's (OPP) 2011 traffic statistics and while most of last year's statistic categories show an improvement over 2010, the OPP will be looking for ways to improve safety on our roads, waterways and trails in 2012. According to the Commissioner of the OPP, there are a number of ways to interpret the results of the 2011 statistics and it's not all good news for the OPP and the people who drive in Ontario.
from Doug:
I am not sure who arranges for rain to fall on weekends, but in any case, that we did have. It was pleasant following a relatively dry March and April - whatever did happen to April showers? With the warm Winter and Spring, many of the May flowers seem to have moved up into April. Our condo is kitty-corner across the intersection from St. James Park (yes, the site of Occupy Toronto last Fall) and the weekend rain really brought the flowers and grass into full Spring splendour. Almost enough to make one wax poetic, not that I could string together a poetic thought or verse if my life depended on it. Hope you are enjoying the season as well.