The Chronicle: Issue 2012-19, May 8, 2012
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
- Free Trade in Broker Connectivity: ACT in Action; ORBiT Increasing Altitude
Independent insurance agents in the US have issued a report on progress towards achieving goals in broker connectivity. At the same time, Canadian brokers are consolidating around actions to promote their interests in connectivity. Are these groups aligned to benefit both groups and exert maximum leverage going forward? - Implementing Mobile: User Assumptions and Security Realities
An increasing amount of data suggests that consumers and employees are assuming that mobile technologies – smartphones and tablets – will become integrated in insurer offerings and accepted as normal business tools. And a number of insurers are moving from pilot projects to production applications. One outstanding question is: are security methods and procedures keeping pace?
Business of Insurance
PwC Webcast (Recording): The Future of Insurance 2020.
Insurers who can anticipate and plan for change can create their future, while others who are "Fast Followers" need to be agile enough to recognize the leaders and follow them. The "Survivors" are likely to be focused on short-term performance. Which one are you?
Intact Financial Corporation to acquire JEVCO Insurance Company for $530 million.
TORONTO, May 2, 2012 - Intact Financial Corporation announced today that it has entered into a definitive agreement with The Westaim Corporation whereby IFC will acquire Westaim's wholly-owned subsidiary, JEVCO Insurance Company, for $530 million. JEVCO is a leading provider of specialty and niche products for individuals and businesses in Canada with approximately $350 million in direct premiums written in 2011 (based on industry data and public disclosure).
Distribution
Brovada announces Aviva extends NexCenter to more parts of Canada.
Saint John, NB - April 24, 2012 - Brovada is pleased to announce that Aviva Canada Inc. will be extending its NexCenter new business and policy change functionality already in place in Ontario and Alberta to Atlantic Canada, Manitoba, Saskatchewan, British Columbia, Yukon and the Northwest Territories.
iClarify Launches to Manitoba Brokers.
Toronto, ON April 25, 2012 - SCM Risk Management Services (RMS) is pleased to announce the launch of iClarify Services to Manitoba Brokers using the Compu-Quote quoting platform and PowerHouse evaluation platform. The initial launch is focused within the Greater Winnipeg Area along with the most heavily populated city centres across the province. Enhanced data and imagery services will continue to go live across Manitoba throughout 2012.
Novinsoft's new mobile Illustration System demo will be available later this month.
May 1, 2012, Port Perry ON -- The Novinsoft features and functionality you know and love are now available as an HTML5 web application optimized for touchscreen mobile devices. We will be sending you a link, later in May, to try the demo system on your iPad.
Policy and Product Management
OneShield - Not all Configuration Tools are Created Equal, by Heather Peacock.
Today it is a given that all modern core systems are configurable. In 2012, let's get back to what configuration can mean for your business. With the right technology partner and system in place, configuration can take you to the next level.
Our People
InsuranceWorks.ca: 15% off job postings & resume search packages.
May 1, 2012, Toronto -- Until May 31st, InsuranceWorks.ca is offering 15% off all of bulk job posting & resume search packages. Buy now and post any time to stock up for your 2012 recruitment needs!!!
CLIFE - Better Continuing Education (CE) Available for Life Licensees and Financial Planners.
RICHMOND HILL, ONTARIO--(May 1, 2012) - CLIFE, the CENTRE for LIFE INSURANCE and FINANCIAL EDUCATION (http://www.CLIFEce.ca), a provider of on-line and on-demand accredited continuing education (CE) for life licensees and financial planners, is proud to announce the release of their CE catalogue of online and print courses. The courses present content that is up-to-date and fresh in areas like Compliance, Long-term Care Insurance, Ethics, and Estate Planning.
Economical Insurance wins prestigious SkillSoft award for its inspiring leadership development program.
WATERLOO, ON, May 2, 2012 - The Economical Insurance Group is pleased to be honoured by SkillSoft for its proprietary leadership development program that inspires leaders at all levels of the company to enhance employee engagement and productivity. This is the second such recognition Economical has received this year for its learning and organizational development programs.
SEMINAR: "The Use of Data and Analytics in the Insurance Industry – A Canadian Perspective"
This complimentary breakfast session with Deb Smallwood of Strategy Meets Action (SMA) will provide insights on the use of data, analytics and technology, and underscore how improved data management is driving efficiencies in underwriting automation.
Tuesday, May 29, 2012
8:30 am – 10:30 am
Topics will include:
- Trends and Maturity in the Use of Data and Analytics
- Underwriting Automation
- Data Best Practices
Space is limited! Register now. For more information and registration, click here.
Technology
Gartner Says Big Data Disruptions Can Be Tamed With Enterprise Architecture.
STAMFORD, Conn., April 17, 2012 - Enterprise architecture (EA) practitioners have a major role in ensuring their organizations maximize the business opportunities posed by big data, according to Gartner, Inc. Big data makes organizations smarter and more productive by enabling people to harness diverse data types previously unavailable, and to find previously unseen opportunities. .
Claims
ISO/Verisk Insurance Solutions and TransUnion Announce the Launch of A-PLUS 2.0.
JERSEY CITY, N.J., and CHICAGO, April 25, 2012 -Verisk Insurance Solutions and TransUnion today announced the release of A-PLUS 2.0 - the next-generation A-PLUSTM auto loss-history database. A-PLUS 2.0 offers new patent-pending household-based search technology from TransUnion that returns approximately 21 percent more claims, virtually eliminates false positives, and provides a new "alert" feature that can greatly streamline the quote process for web, call centers, agents, and back-end underwriting systems.
Marketing and the Market Place
J.D. Power and Associates Reports: A Growing Number of U.S. Shoppers Are Switching Auto Insurance Providers.
WESTLAKE VILLAGE, Calif.: 30 April 2012 -- The auto insurance shopping rate has reached the lowest point in the past five years, with only 25 percent of insurance customers indicating they shopped for a new insurer in the past 12 months, down eight percentage points from 2011, according to the J.D. Power and Associates 2012 U.S. Insurance Shopping StudySM released today.
Consumer Information
IBAO - Ontario Students Launch Impaired Driving Awareness Campaign.
(Toronto, Ontario) - April 30, 2012 - the Insurance Brokers Association of Ontario (IBAO) is excited to announce the launch of the Ontario Students Against Impaired Driving (OSAID) public service announcement and charitable campaign aimed at raising awareness of the dangers of impaired driving.
MADD Canada Releases Its Latest Review of Provincial/Territorial Impaired Driving Laws.
Oakville/Ontario/April 23, 2012 - Ontario and British Columbia are leading in efforts to reduce impaired driving, while Saskatchewan, New Brunswick and the Territories need to make major improvements, according to MADD Canada's 2012 Provincial and Territorial Legislative Review.
Insurance in the Community
Foresters helped raise $48 million for children's hospitals in 2011.
(Toronto, ON, April 26, 2012) - Life insurance provider Foresters™ helped raise more than $48 million for North American children's hospitals in 2011. All money raised went to support Children's Miracle Network Hospitals®, a charity that raises funds for 170 children's hospitals across the United States and Canada.
from Doug:
After visiting Dad on the occasion of his 91st birthday last week, my wife took off on another opera tour and I was left holding the fort. The beautiful weather on Sunday took me back a couple of years - went to a friend's house and spent a couple of hours digging in the flower garden and cuttng some lawn. I don't think I returned to my youth and former householder duties much if at all last year. A bit of a respite and some memories. Hope you too enjoy your Spring.