The Chronicle: Issue 2012-44, October 30, 2012
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What's Going Through The Intersection of Insurance and Technology? |
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What is the biggest productivity killer: Email, Social, ... ?
How Do Cool Agents Do Social Media? |
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Technology
Guidewire Announces 2012 Innovation Award Winners and Regional “Parters of the Year”
Guidewire Software congratulates the winners of its 2012 Innovation Awards: Accident Fund Holdings, Inc., The Hanover Insurance Group, Inc., and Jewelers Mutual Insurance Company. Each winning company earned this recognition based on its innovative use or implementation of Guidewire's underwriting and policy administration, claims management or billing system, resulting in key business value delivered to their respective organizations.
Claims
IBC & IBM: Fraud Analytics Help Outsmart Fraudsters
To address its objective of automating the detection of potential claim fraud and the identification of possible fraud rings, IBC engaged IBM to perform a Proof-of-Concept project. "Together with IBM, we have demonstrated through this POC how IBC and insurance companies can improve the effectiveness and efficiency of IBC investigators and insurer special investigation units using analytics and visualization technology to make fraud detection smarter and faster, for significant savings and improved public safety," said Rick Dubin, Vice President of Investigative Services at IBC.
Austin Mutual Insurance Company Selects Innovation Group's Innovation Auto
The Innovation Group today announced Austin Mutual Insurance Company has selected Innovation Auto to provide end-to-end auto claims and repair services for the company's personal and commercial auto business across nine states. Innovation Auto includes services such as Innovation Managed Repair Network, customer shop of choice, managed independent adjusters, total loss and salvage management, rental management, desk review and adverse subrogation.
Distribution
Novinsoft: Mobile Illustrations are becoming more interesting by the minute
Two fairly recent developments are quickly altering the already changing illustration systems game plan – the Microsoft launch of Windows 8 along with the Microsoft Surface tablet; plus the most recent iteration of the HTML development stack – HTML5.
Farmers’ Mutual and Brovada partner for broker connectivity
Farmers’ Mutual Insurance Company (Lindsay) is pleased to announce the official commencement of their broker connectivity initiative. The project will be completed in a number of phases beginning with policy, billing and claims inquiry, followed by new business upload, and policy change.
Policy Management and Administration
Risk Control Technologies Inspection Selected by KEMI of Kentucky
Risk Control Technologies Inc., the industry-leading provider of loss control software solutions for insurers, today announced that Lexington, Kentucky-based Kentucky Employers' Mutual Insurance (KEMI) has completed implementation of the RC Inspection software solution to streamline its loss education and safety field operations. KEMI is the largest provider of workers' compensation insurance in Kentucky, providing coverage to more than 20,000 policyholders throughout the state.
Marketing
Frank Cowan Company launches Risk Management Centre of Excellence for Specialty Insurance Sector
Frank Cowan Company is pleased to announce release of Phase Two for their innovative website, The Risk Management Centre of Excellence. The website is now available to a broader audience including healthcare, education and community and social services clients, in addition to public entity clients who participated in Phase One.
Consumer Information
Allstate reminds Canadians to appraise and protect valuable belongings
Attention fashionistas, road warriors or other collectors: have you properly protected your vintage Gucci dress, high-end bicycle or heirloom watch against theft or damage? In some cases, home insurance policies limit coverage on certain items such as bicycles, pieces of jewelry or watches either to a per-item maximum or a total for all items. Allstate Insurance Company of Canada advises that collectors may need to take extra steps to ensure their costly items are insured against a loss.
Kanetix Overhauls Canadian Mortgage Shopping
Comparing mortgage rates has always been easy to do at Kanetix.ca, but now Kanetix helps mortgage shoppers not only compare mortgage rates, but also lock in a rate and get pre-approved online, quickly and securely – a first in Canada.
Canadians expecting to live longer but not planning accordingly
Sun Life Financial and CARP today released the results of a poll showing that while the majority of respondents age 45-plus expect to live past age 80, one in three of respondents are relying on selling their investments in real estate for financial support during their retirement years.
Foresters celebrates million-member milestone
Foresters™, a leading international life insurance provider announced today it now has one million member customers across Canada, the US and the UK. The million-member milestone is the latest in a series of positive developments for Foresters.
Manulife Financial Completes Acquisition of Wellington West
Manulife Financial today announced that it has completed its previously announced acquisition of independent financial planning firm Wellington West Financial Services Inc., a division of Wellington West Holdings Inc., and a dealership registered with the Mutual Funds Dealers Association (MFDA), from National Bank.
Our People: Human Resources
Employers get temporary relief from rising benefit costs: Conference Board of Canada
Canadian organizations got a modest reprieve from the increase in benefit costs in the past three years, but the relief will be short-lived, making cost containment and absence management the priorities for employers. These findings, based on The Conference Board of Canada's second national survey of benefit programs, were issued today at Benefits Summit 2012.
Economical Streamlines with Staff Reduction
Economical Insurance today announced the latest steps in its business transformation program, a continuing investment in its future competitiveness. The company is taking further action to streamline, simplify, and automate its operations to increase productivity, reduce costs and improve its service to brokers and customers.
Joe's Corner:
Certainly one news item stands out the last few days – Hurricane Sandy! Not many things shut down New York business, entertainment and social life but Sandy is doing it. Same for other cities along the east coast. Our industry faces scary $$$ estimates of the storm damage as a result of Sandy.
Sitting here Monday evening and waiting for the wind and the rain, I begin to think again just how fortunate we who live in Southern Ontario are. While tornadoes, hurricanes, flooding, and earthquakes wreak desolation in Canada and around the world – we so far have been spared major disasters, although we whine and complain bitterly every year when 4-5 inches of snow fall. We should count our fortunes!
If the weather clears and kiddies do go out for Halloween on Wednesday, remember to dress them so they are visible and keep them safe! Let's have just treats without the tricks.