The Chronicle: Issue 2012-20, May 15, 2012
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
- What's Big: Government, Data, Cloud, Opportunity, Money
Turns out there's a big cloud forming over Washington, DC. And it could change forecasts in many places. In a March 29, 2012 release, the White House announced the "Big Data Research and Development Initiative." The intent is ambitious: to improve "our ability to extract knowledge and insights from large and complex collections of digital data, the initiative promises to help solve some the Nation's most pressing challenges." - What is Driving Auto Insurance Down? And Can Smart Technology Drive It Up?
Those of us who have been involved in automobile insurance, including the machinations of market swings and government interventions, might have quietly bemoaned the hoops we have had to go through to write this business. However, none of us (in our sober moments at least) have wished for a significant cut in the size of the automobile insurance market.
Distribution
Keal Technology Delivers on eDoc.
TORONTO, Ontario, Canada - May 10, 2012 - Keal Technology, software provider for Canadian insurance brokers, announces they are making available to insurers effective May 14th 2012 its Centre of the Study of Insurance Operations (CSIO) electronic document (eDoc) in CSIO XML format.
PwC Webcast: The Direct Distribution Dilemma.
Today's insurance marketplace is looking for more choice, flexibility and value, as many consumers now prefer to do business across multiple channels. To meet these demands, insurers should acknowledge and embrace the shift in priorities toward the direct channel.
CCIR Position Paper: The Managing General Agencies (MGAs) Distribution Channel in the Life Insurance Industry.
May 4, 2012 -- We are pleased to announce the release of a CCIR position paper entitled The Managing General Agencies (MGAs) Distribution Channel in the Life Insurance Industry for a 60 day consultation period. This is the second paper from the Agencies Regulation Committee (ARC).
Applied Systems to sponsor 'Seminars for Success' series.
University Park, Ill. - May 10, 2012 - Insurance software company Applied Systems today announced it will sponsor "Seminars for Success", a series of seven complimentary live webinars featuring leading insurance agencies and highlighting industry best practices to leverage technology in driving sustainable growth and profitability for agencies and brokerages.
Policy and Product Management
Risk Control Technologies Introduces iPad App for Loss Control Inspectors.
(May 10, 2012 - Toronto) Risk Control Technologies Inc., the industry-leading provider of loss control inspection software for insurers, today announced the launch of an iPad app to provide an additional option to field inspectors using the RC Inspection loss control solution.
Guidewire Enhances Rating Management for Improved Insurer Business Agility.
SAN MATEO, Calif., May 8, 2012: Guidewire Software, Inc. (NYSE: GWRE), a leading provider of flexible core systems to Property/Casualty (P/C) insurers, today announced the availability of significant new enhancements for Guidewire Rating Management™, an add-on module to the Guidewire's underwriting and policy management solution, Guidewire PolicyCenter®. Today's enhancements provide insurers with the visibility, flexibility and rapid time to market to capitalize on market opportunities faster than they could before.
Tower Group - TechSpend: Actuarial Systems Spending to Rise 11% .
2 May 12 - We expect Insurers' spending on Actuarial Systems to increase along with life premium & annuity deposit growth. As insurers purchase new actuarial systems, we expect several factors to influence their purchasing decision:
Swiss Re - State of the art automated underwriting tool is unveiled at AHOU annual conference.
30 April 2012 - United States of America - Swiss Re, in conjunction with PlanetSoft, has launched an Americas first end-to-end underwriting platform that supports the underwriting rules already used in 80% of the life market. plasma™ marries decades of underwriting experience and leading technology to multiple products lines and distribution channels to create a fully automated underwriting tool compatible with Swiss Re's Life Guide manual.
Marketing and the Market Place
eMarketer: Users Tune in to Online Video in Canada, Ad Spending Follows.
MAY 7, 2012 - Online video's popularity among internet users in Canada is taking off, and marketers are investing heavily in the format. eMarketer estimates that online video ad spending in Canada more than doubled from CA$37 million in 2010 ($37.4 million) to CA$84.6 million ($85.5 million) in 2011, and is forecast to increase 67.2% in 2012 to CA$141.5 million ($142.9 million).
eMarketer: Online Sales per User Continue to Climb in North America.
MAY 10, 2012 - The world economy may still be recovering, but consumers in both the US and Canada are expected to spend record amounts on B2C ecommerce in 2012. In an April 2012 report, global media investment management firm GroupM estimated that this year the average B2C ecommerce spending per user in both countries in North America will break the $1,000 threshold.
Business of Insurance
EGI Financial Acquires CUISA Managing General Agency.
TORONTO, May 4, 2012 - EGI Financial Holdings Inc., a Canadian-based international specialty insurer, today announced that it has acquired CUISA Managing General Agency Corporation, a British Columbia specialty insurance operation.
Consumer Information
Canadian Cancer Society: Cancer death rate down 09 May 2012 - TORONTO - The cancer death rate in Canada is going down, resulting in nearly 100,000 lives saved over the last 20 years (1988 to 2007). Despite the drop in the death rate, cancer is still the leading cause of death in Canada. Canadian Cancer Statistics 2012 was released today by the Canadian Cancer Society, in collaboration with the Public Health Agency of Canada and Statistics Canada.
LAWPRO Survey: More than half of Canadians do not have a signed will.
TORONTO, May 7, 2012 - A majority of Canadian adults (56 per cent) do not have a signed will, according to a survey of more than 2,000 Canadians released by LAWPRO's TitlePLUS title insurance program today. The survey also reveals that 71 per cent of Canadian adults do not have a signed power of attorney.
Govt. of Canada's Minister of Public Safety Highlights Online Tools for Emergency Preparedness Week.
OTTAWA, May 5, 2012 - Today, the Honourable Vic Toews, Minister of Public Safety, recognized Emergency Preparedness Week (EP Week) 2012 by highlighting several online tools to help Canadians prepare a family emergency plan and do their part to improve community resilience against disasters. The 17th annual EP Week takes place May 6-12, 2012, and the theme of this year's event is "Make a Plan."
IBC offers tips for Emergency Preparedness Week.
VANCOUVER, May 7, 2012 - It's Emergency Preparedness Week, a reminder that everyone has a role to play in being prepared for an emergency. This week Insurance Bureau of Canada (IBC) encourages Canadians to follow some simple steps so you will become better prepared.
Google approved by Nevada DMV for First Autonomous Vehicle Testing License.
May 7, 2012 - The Nevada Department of Motor Vehicles has approved Google's license application to test autonomous vehicles on Nevada public roads. It is the first license issued in the United States under new laws and regulations that put Nevada at the forefront of autonomous vehicle development.
from Doug:
Although I do not have a green thumb, I have a small number of Loyalist Roses. Brought from Scotland to New York Province in 1773, the Cameron family brought the rose bush to Ontario when they were evicted by the rebels. After my virtual neglect for a few years, I spent some time on the weekend moving about ten bushes of different sizes from one plot to another, Maybe they will multiply a little faster now. Thankfully, as a wild rose, they are quite hardy and able to survive my benign neglect. Time will tell how they make out now.