The Chronicle: Issue 2012-45, November 6, 2012
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What's Going Through The Intersection of Insurance and Technology? |
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Are You Satisfied with IT? Does IT Know?
“Analytics” is Plural for a Reason |
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Insurance Events in Canada
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Technology
Guidewire Debuts Instant Mobile Insurance Network
At Connections 2012, Guidewire Software, Inc., a leading provider of flexible core systems to Property/Casualty (P/C) insurers, today announced the general availability of Guidewire Live, a network connecting Guidewire customers to one another, curated external content, and expert tools. Customers will access Guidewire Live through instant-on, easy-to-use apps. Guidewire Live delivers relevant context to P/C insurance professionals based on who they are and the problems they are trying to solve.
SAS Fraud Framework Recognized at SMA Innovation Awards
Business analytics leader SAS was recognized by leading insurance strategic advisory firm Strategy Meets Action (SMA) with its SMA Innovation in Action award for SAS® Fraud Framework for Insurance. This honor spotlights how new technologies can help modernize, optimize and innovate insurance practices.
IBM Unveils Big Data Software, New Digital Marketing System
At IBM Information On Demand & Business Analytics Forum 2012, IBM today unveiled a new digital marketing system and big data software designed to help organizations gain actionable insights on the broadest range of data to transform the way they do business with customers, employees and partners.
The Guarantee Chooses Guidewire ClaimCenter for Claims Management
The Guarantee Company of North America and Guidewire Software announced today that The Guarantee has selected Guidewire ClaimCenter as its new claims management system. The Guarantee is committed to meeting policyholder and broker expectations and has selected ClaimCenter as part of a broad initiative to enhance the services offered to its clients and independent broker partners and to increase the speed and efficiency with which claims are processed.
Distribution
GCNA First to Subsidize Insurance Companion Fees for Brokers
The Guarantee Company of North America is pleased to participate in the much anticipated release of the Independent Broker Resources Inc. (IBRI) mobile app – Insurance Companion. In addition to their participation, The Guarantee is the first to offer a unique subsidization program to contracted Personal Lines brokers in Ontario who choose to offer the app to their clients. The application is available and promoted to members of provincial insurance brokers associations. IBRI is a wholly owned subsidiary of the Insurance Brokers Association of Ontario (IBAO).
kasina financial advisors refer to online industry news over asset manager websites
In the new, 2012 edition of kasina's annual study of What Advisors Do Online, researchers found that a majority of financial advisors are obtaining asset managers' content online, but most prefer sources other than those firms' websites. To engage effectively with advisors and win their business, asset managers must package and deliver valuable, branded content – beyond their own website – where, when and how advisors want it.
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.
Policy Management and Administration
OneShield's Kim Morton on Billing Systems and Customer Service Improvements
While it is absolutely critical to make certain a new billing system is going to increase customer service levels and billing inquiry response time, there are other benefits to be gained. If insurers don't look past the trees and into the forest for additional functionality and benefits, they will miss the opportunity to leverage billing for improved profitability and expansion into new markets.
Claims
Accenture Releases New Version of its Insurance Claims Management Software
Accenture has unveiled an enhanced version of its claims management software platform, Accenture Claim Components, designed to help property and casualty (P&C) insurers process claims more quickly and efficiently and improve customer satisfaction. Accenture Claim Components was upgraded to support increasingly complex insurance policy products with more flexible claim definitions, improving ease of use for adjusters and claims professionals.
Business of Insurance
Young Drivers Speed Less with Mobiliz
There are still too many accidents and death due to speeding in Quebec. It is in this context that on last April 11, Industrial Alliance launched Mobiliz, a new auto insurance policy that encourages young people to adopt more responsible driving behavior by rewarding good drivers. It is a positive and promising initiative, given that 52% of young insured have already improved their driving behavior thanks to this innovative program even if some drivers have only recently got insurance with Mobiliz.
Consumer Information
CAA offers coverage for tires, home appliances
A broken furnace, water heater or washing machine can be costly, but doesn't have to be. Homeowners rely on so many appliances to keep their house running and don't usually budget for breakdowns. That's why CAA Insurance Company (Ontario) is recommending you protect yourself against expensive equipment repairs.
A.R.S.: Disability Management in a Non-Union Environment
As a non-union employer, whether in private or public sector you may struggle with what disability management policies and procedures are appropriate for your organization. Few employers are aware of the costs associated with casual absence; other than the actual number of days lost. Because you operate in a non-union environment, other than complying with legislated requirements, you have the ability to design and operate a disability management program that best suits your organization and culture.
J.D. Power reports Canadians Lack Earthquake, Flood Protection
Recent severe weather and environmental events, such as Hurricane Sandy and the earthquakes in British Columbia highlight that many Canadian insurance customers lack catastrophic loss coverage, according to the J.D. Power and Associates 2012 Canadian Home Insurance Study released today.
Joe's Corner:
This weekend seemed pretty well like a low point! There was all the bad news about the devastation Sandy caused, although Canada escaped mostly unscathed, but this weekend was also the annual signal that we should retreat to our caves: switching back to Standard Time. How depressing! Now, even on a nice day, by the time we leave the office and roll down the Gardiner or DVP, by the time we get home it's dark and we move about like the Mole Sisters.
On the bright side, in 7 weeks it will start to swing the other way.