The Chronicle: Issue 2012-30, July 24, 2012
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
- Telematics Buzz: Just More Noise, or a Chainsaw on the Horizon?
Either the telematics buzz machine has been set to hyper-whine, or there is a strong undercurrent suggesting a usage-based insurance breakthrough into the mainstream of underwriting in North America. We've seen a large wave of articles crossing our desk (primarily from the US). In addition to the US buzz, we're finding more serious conversion among senior Canadian business and IT managers (virtually all of whom don't want to go on record). - Analytics Investment Increasing for Business Generally, Insurers Specifically
At the beginning of this year, we identified analytics as a mega-trend which we felt would be an overarching priority in 2012. A couple of recent reports show that we seem to be on the right track, if spending is any guide. We're interested in knowing whether analytics is a priority for you.
Business of Insurance
Insurance leaders concerned about inappropriate regulation, economic crisis.
Jul 18, 2012 - Leaders of the international insurance industry have significant concerns about the effects of inappropriate regulation and the effects of the current economic crisis according to a survey conducted by insurance economics think tank The Geneva Association.
Sutton Special Risk launches U.S. subsidiary.
July 18, 2012 - Sutton Special Risk, a provider of Contingency, Kidnap & Ransom, and Accident & Health insurance, has announced the formation of Sutton Special Risk America, and the opening of their New York office.
CSIO Press Release - July 19, 2012.
CSIO appoints Pranab Pandey as manager of standards and business process improvements
Farmers call for support during drought.
The Canadian National Farmers Union is calling on consumers and the provincial agriculture ministry to support family farmers as they cope with drought conditions.
Ontario PC proposal calls for private insurers to compete with the province's Workplace Safety.
An Ontario Progressive Conservative Caucus White Paper has recommended that private insurance companies be allowed to compete with the Workplace Safety Insurance Board (WSIB) for the provision of work-related insurance coverage.
Claims
Munich Re says First half catastrophe losses "comparatively low".
Jul 16, 2012 - Natural catastrophes in the first half of 2012 caused USD $26 billion in overall global losses. Of that, about $12 billion was insured said reinsurer Munich Re.
e-djuster Completes Acquisition of Winnipeg-Based "The Claims Network (TCN)". July 16, 2012 - e-djuster is pleased to announce the successful May 30th, 2012 completion of its acquisition of "The Claims Network (TCN)," further securing its position as Canada's leading provider of Contents Claims Solutions to the Canadian property claims industry.
Insurance in the Community
Cowan Insurance Group - The 11th Annual Cowan Charity Classic Donates $100,000 towards the Heart andStroke Restart a Heart, Restart a Life Program in Cowan Communities.
July 17, 2012 - The 11th annual Cowan Charity Classic was held on June 18th 2012. Cowan Insurance Group is pleased to announce that the tournament raised $50,000.
Distribution
ClearRisk launches smartphone app for insurance brokers.
Jul 19, 2012 - ClearRisk has launched its first native smartphone
application - Deductibles - for use on Apple iPhones, iPod Touches and
iPads.
Keal and CIM-DATA offer Complimentary Broker Management Systems.
TORONTO - July 20, 2012 - Keal Technology annd CIM-Data, Canadian Broker Management System (BMS) Providers, are pleased to announce they have formed a partnership offering complimentary BMS products for the Canadian insurance marketplace.
Marketing and the Market Place
Measuring ROI of social media a top concern for marketing, ad execs.
Jul 18, 2012 - A 2011 poll by Ipsos Reid found that 50 percent of Canadians have at least one social networking profile and the prevalence is spanning generations.
Our People
A.R.S.I. - Return to Work Programs - Safe and Early Return to Work.
Employers regardless of size of organization should have a Return to
Work (RTW) Program in place to assist disabled employees in their
return/graduated return to the workplace.
Policy and Product Management
OneShield - Not Created Equal: Differences in Configuration Tool Functionality Impacts Insurers.
Twenty years ago, "configurable" systems came into the mainstream of enterprise software, but it was only a decade ago that this concept entered the everyday lexicon of the insurance industry.
Reference and Statistics
SMA - Insurers to increase spending on analytics.
Three quarters of insurers plan to increase spending on analytics, according to a new ACORD research study, conducted by Strategy Meets Action (SMA).
Social Business
Social Media Usage Plateaus Among Marketers.
July 18, 2012 - There's no denying social media is still a hot topic among marketers, but it's no longer the new kid on the block.
Technology
It's Coming your way - Technology that will change the world.
It's a given that the websites you visit will remember your preferences so they can keep you coming back and make recommendations that fit your specific interests.
From Joe:
I have a couple of things on my mind this week. First, quite a number of you participated in our survey on the use of smartphones; I must admit, I was a bit surprised by the opinions of those who do not own a smartphone, but I don't want to spoil the results so please visit our survey page and see for yourself. Second, I've been wondering if you have an opinion to share or a topic you want to climb atop your soapbox about – been mulling things like "rumors and confirmations" and "speaker's corner" as part of the newsletter. Let me know what you think of either of the two ideas; the only condition would be no anonymous comments allowed. The rumor (or "rant") would have to be attributable to you (i.e., a verifiable email address). Keep enjoying the summer!