The Chronicle: Issue 2012-24, June 12, 2012
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
- Applied Systems and Compu-Quote: Read The Blog! Take the Survey!
The announcement of Applied Systems purchase of Compu-Quote (CQ) has started some interesting discussions. We'd like to offer some of our thoughts on implications, and are very interested in hearing yours Take a short (5 minute) survey, and add any additional comments below. We'll review results in this space after the survey closes. - Why don't you all f-fade away?
Does the survival of the independent insurance distribution system require a wholesale revolution led by the Millennial young turks? That seems a common theme lately. In a recent Insurance Journal article, Jason D. Cass, owner of the JDC Insurance Group based in Centralia, Ill. says that there is a revolution going on in insurance that is comparable to the Arab Spring in that it is fueled by young people using social media. We want to know what you think.
Business of Insurance
RSA Canada announces agreement to acquire L'Union Canadienne.
GUELPH AND TORONTO, June 6, 2012 - Home, car and business insurer RSA Canada has agreed to acquire L'Union Canadienne, a Quebec-based intermediated P&C insurer, from its parent company Co-operators General Insurance Company (CGIC) for $150 million, pending regulatory approval, and other standard closing adjustments and conditions.
Distribution
Applied Systems Acquires Compu-Quote.
University Park, Ill. - June 05, 2012 - Applied Systems, Inc., a leading provider of software that powers the business of insurance, today announced that it has acquired Compu-Quote Inc., Canada's leader in comparative insurance rating solutions.
Web Wizards Inc: Automated system captures qualified leads.
While buying an additional insurance policy isn't exactly like ordering fries with your burger, the strategy is the same; like any "retail" location, brokerages can increase sales significantly by cross-selling to existing customers.
Economical Insurance progresses towards seamless, real-time automated transaction processing.
WATERLOO, ON, June 7, 2012 - Insurance brokers can now take advantage of time-saving improvements to Economical's "Straight Through Processing" and begin and issue new business or make policy changes in real-time using Power Broker, Applied Systems TAM® and and SigXP broker management systems, The Economical Insurance Group announced today.
Manulife launches advisor marketing toolkit in support of its new Synergy(R) ad campaign.
WATERLOO, ON, June 4, 2012 - Manulife has launched a suite of marketing tools to help advisors promote its unique Synergy insurance solution. The new marketing toolkit is designed to build off consumer awareness created by Manulife's new Synergy ad campaign and provides a variety of fresh and innovative ways to help advisors introduce Synergy to their clients.
Celent: North American Insurance Distribution Management Systems.
June 1, 2012 - Growth. Profitable, sustainable growth. How can insurance companies grow their business in a meaningful manner, given the continued slow growth in the economy? Celent believes that effective producer management is an untapped area of competitive advantage.
Claims
Paul Davis Systems Canada expands its network - Grand Opening of Systemes Paul Davis de Joliette.
Paul Davis Systems Canada is expanding once again! A new franchise has opened its doors and is ready to provide service in Joliette, Quebec. This will be the 11th location in Quebec and 57th in the nation.
SCM Insurance Services: Canada's Top IME Companies Will Now Operate as a Single Entity: Cira Medical Services Inc..
June 4, 2012 - Toronto - Today two of Canada's top independent medical evaluation (IME) companies revealed their new name and brand: Cira Medical Services Inc. As the result of an ongoing integration between Riverfront Medical Services and Medisys IMA (initiated last year after SCM Insurance Services acquired both companies), Cira Medical Services Inc. (Cira) represents the combined strengths of two intensely client-focused companies.
Symbility Signs Multi-Year Agreement with RYTECH.
TORONTO, ONTARIO -(June 4, 2012) Symbility Solutions Inc.®, 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, is proud to announce that RYTECH®, a network of certified water damage mitigation specialists, has signed a multi-year agreement to integrate Symbility into its operations.
Paul Davis Systems in Thunder Bay - Ready to Restore with Confidence.
The Thunder Bay community and surrounding areas have experienced a massive storm which has affected most of its residents over the last week. The water levels in some areas have been recorded reaching as high as 108 millimeters. The heavy rains caused different levels of damage, including sewage back-ups and extensive flooding in thousands of homes and businesses ultimately forcing the municipality to declare a State of Emergency earlier this week. Many homeowners have reported flooded basements with water anywhere from 1.2 to 1.5 metres high.
Social Business
LOGiQ3: Leadership In A Successful Organization, What Role Do We Play?
Posted by Andrew Smith on Thu, May 31, 2012 In a recent Lunch & Learn held in our head office, the LOGiQ3 Learning Committee examined the topic of Leadership. This is an interesting topic to dissect as we each have our own definitions of what leadership means.
Technology
SAS® helps Mutual of Enumclaw fast-track decision process.
CARY, NC (May 15, 2012) - When tasked to build a team to get a better handle on enterprisewide data, Mutual of Enumclaw chose software from SAS, the leader in business analytics software and services, for faster, more informed decision making.
Policy and Product Management
OneShield Celebrates Milestone Anniversaries with Customers.
San Diego, CA - June 4, 2012 - OneShield, Inc., a provider of flexible, enterprise-class and content-rich policy and billing core systems for property/casualty insurers, is pleased to congratulate Allied World Assurance Company for having OneShield Dragon® successfully running in production for eight years, as well as Capitol Insurance Companies and Privilege Underwriters Reciprocal Exchange (PURE) for having OneShield Dragon® successfully running in production for five years.
Exigen Introduces International Business Insurance Product.
San Diego, Calif., June 05, 2012 - Exigen Insurance Solutions®, a leading global provider of core solutions to insurers delivered through an aligned-outcome business model, today announced at the IASA conference the introduction of an International Business Insurance product. The new product is designed to give insurers operating in global markets greater product flexibility and agility. It allows Exigen customers to select and deliver the business insurance coverages they wish to offer in any one country from a comprehensive global set of 85 coverages for over 600 occupation types.
Consumer Information
IBC: Old-fashioned rain barrels can help solve a modern-day problem.
Saskatoon, SK - June 1, 2012 - A new study released today by Insurance Bureau of Canada (IBC) and Wingham, Ontario concludes that the humble rain barrel offers an old-fashioned solution to a modern problem: keeping home water damage down.
Insurance Bureau of Canada releases new research report - "Telling the Weather Story".
JUNE 4, 2012 (TORONTO) - What will Canada's weather look like 40 years from now? According to projections made by Professor Gordon McBean, a world renowned climate scientist from the University of Western Ontario, warmer temperatures in the summer months will, in some regions, result in an increase in wild fires, drought, water scarcity, lightning flash density and the risk of hail storms. Also parts of the country will see more intense winter storms, more freezing rain and precipitation, as well as a significant decline in sea ice cover and increased coastal erosion.
Square One Insurance : Nearly one-quarter of BC house owners rent out a portion of their home.
June 4, 2012 - (Vancouver, BC): In the past 8 months, Square One Insurance has talked to over 850 BC house owners and has found nearly 25% of them rent out a portion of their home to non-family members. This could be a basement suite in the home, or a garage converted to a "coach house". Square One's findings reinforce a 2009 study completed by the City of Vancouver, which estimated between 23% and 27% of single-family houses have suites. Square One says that while mortgage-helpers are well, helpful, there are home insurance implications that house owners need to be aware of.
From Doug:
I belong to the United Empire Loyalists' Association of Canada and our annual conference was this past weekend in Winnipeg. Four days of history and meetings, but mostly networking with old and new friends. I have long held that one can find interesting history most anywhere. The richness of Manitoba's history was there for the exploring, although we had only enough time to scratch the surface. Our banquet speaker, a retired archivist spent many years working on the Hudson Bay Company archives. Although I had never connected them, she developed connections between each pair of The Hudson Bay Co., The Loyalists and the Red River Settlement. I visited the Ross House Museum on Sunday. As Canada's first non-HBC post office in the west, I have a family connection to it - a story for another time. That said this year has a lot of history: The Queen's Diamond Jubilee, The War of 1812, The Red River Settlement, and I am sure you too can find significant history locally. Enjoy!