The Chronicle: Issue 2012-46, November 13, 2012
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What's Going Through The Intersection of Insurance and Technology? |
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Independents, Data, Analytics, and the Future
Micro-Segmentation For The Micro-Organization |
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Overview of Insurance Events
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Technology
Outside Intelligence Forms Strategic Partnership with Opta Information Intelligence
Opta Information Intelligence, the creators of iClarify services, and Outside Intelligence have formed a partnership to deliver the largest structured and Big Data information service pertaining to commercial properties in Canada to the Canadian Insurance Industry.
Wearable smart devices the next frontier
A new report from Juniper Research has valued the next-gen wearable devices market, including smart glasses, to be worth more than $1.5 billion by 2014, up from just $800 million this year. These revenues will be largely driven by consumer spending on fitness, multi-functional devices, and healthcare.
Claims
Manitoba Teacher's Society to Implement FINEOS Claims
FINEOS Corporation, a market leading provider of claims management software, today announced that The Manitoba Teachers' Society (MTS) has selected FINEOS to manage claims and payments arising from its Disability Benefits Plan, an insurance plan owned and operated for teachers in the province of Manitoba in Canada, since 1994. The Manitoba Teachers' plan is designed to support members with medical and vocational rehabilitation if they become ill or injured, ensuring the earliest possible return to work and maximum quality of life.
Policy Management and Administration
Accenture Duck Creek Policy Admin to be Implemented by Crum & Forster
Accenture has been selected by Crum & Forster, a leading provider of specialty and standard insurance offerings, to deploy Accenture Duck Creek Policy Administration software. Crum & Forster will use the software as a major component of its rating and policy processing system for commercial lines, specialty lines and workers' compensation. The new system will enable Crum & Forster to quickly and easily launch and maintain products, and increase operational efficiencies by streamlining policy administration processes.
Distribution
Western Financial picks Applied Systems Epic broker management system
Western Financial Group, owner of the largest property and casualty distribution network in western Canada, has selected Applied Systems Epic broker management system to integrate its more than 120 network locations and over 1,500 employees located throughout Canada's western provinces, including Manitoba, Saskatchewan, Alberta and British Columbia.
Hub International Expands Atlantic Presence with Huestis Acquisition
Hub International Limited (Hub) announced today that it has acquired the shares of Huestis Commercial Insurance Ltd. (HCIL), a Saint John, New Brunswick, Canada-based insurance brokerage firm. Terms of the acquisition were not disclosed.
Data and Analytics in Insurance – an Insurance 2023 Report, November, 2012
Data Analytics have been identified as very significant factors by members of the Insurance2023 Study Group. During a recent I2023 conference call, 2 independent distributors from north America engaged in a conversation about the significance of analytics and data for the independent channel.
Applied Systems TAM 12 Supports eDoc XML, Better Commercial Lines
Insurance software company Applied Systems today announced the Nov. 9 general release of TAM 12, the newest version of the most widely used agency and broker management software in the insurance industry.
Social Business
VerticalResponse: Small businesses juggling resources to leverage social media
VerticalResponse, a leading provider of self-service marketing solutions for small businesses and non-profits including email marketing, social media marketing and event marketing, today announced the results of an exclusive survey on how much time and money small businesses spend on social media.
Business of Insurance
CIAB: Commercial P&C Pricing Slowed in Third Quarter
Increases in commercial property/casualty insurance pricing slowed slightly in the third quarter of the year, according to The Council of Insurance Agents & Brokers' quarterly Commercial P&C Market Index Survey. Pricing rose on average at a rate of 3.9 percent, compared with 4.3 percent in the second quarter, across small, medium and large accounts.
Our People: Human Resources
Guarantee Appoints New Vice President of Strategic Initiatives
Alister Campbell, CEO of The Guarantee Company of North America, is pleased to announce the appointment of Angelique Magi as Vice President of Strategic Initiatives, effective November 5, 2012. In this newly created role, Angelique will help The Guarantee explore a range of segment, product and distribution strategies as we evolve our portfolio of profitable, specialty lines to position the company for continued profitable growth.
Consumer Information
IBC joins Ontario Association of Crime Stoppers to investigate fraud tips
Insurance Bureau of Canada (IBC) is teaming up with the Ontario Association of Crime Stoppers to provide consumers with another avenue to submit their tips about suspected insurance fraud and vehicle theft. IBC and Crime Stoppers will work together so that anonymous tips to the organization will be sent to police and to IBC's Investigative Services department as a means of striking a further blow at those who abuse the insurance system at the expense of all policyholders.
Unstable economy stressing young canadians, reveals national Sun Life survey
The instability in today's economy is contributing to high stress levels in young Canadians, with 90 per cent of 18 to 24 year olds experiencing excessive stress and 72 per cent of adult Canadians are feeling overwhelmed, according to the third annual Sun Life Canadian Health Index compiled by Ipsos Reid.
Winter Tires Prevent Winter Accidents – Traffic Injury Research Foundation
Using winter tires during the winter months can increase the likelihood of avoiding a costly collision according to a report published by the Traffic Injury Research Foundation (TIRF). The challenge researchers discovered was getting drivers to use winter tires. The report entitled, Winter Tires: A Review of Research on Effectiveness and Use, looks at existing Canadian and international research on the efficacy of winter tires and their potential effects. The study, sponsored by the Winter Driving Safety Coalition, also explored the public's perceptions and use of winter tires.
IBC wants Canadians “To Save And Protect” by understanding their insurance
It's Financial Literacy Month and Insurance Bureau of Canada is helping Canadians “To Save and Protect”: to save money by better understanding their auto, home and business insurance, and to protect their most valuable assets with the right insurance policies.
Men and Women display Road Rage – Kanetix
While more men than women admit to doing it, both sexes are prone to exhibiting aggressive driving behaviour. According to a recent study from online car insurance comparison service Kanetix.ca, 83 per cent of men and 76 per cent of women admit to exhibiting road rage-like behaviour.
From Joe:
I managed to get signed up as one of the early wave of flu victims – yuck! Thanks to Doug for soldiering on and carrying the flag for me – it’s much appreciated, and I have to agree with his words of wisdom that “you don't appreciate feeling well until you don't.”
Take your vitamins, ginseng, echinacea or flu shot or – if you can – hide in the basement until cold weather comes and rids us of the bug. I hope to have something more interesting to comment on next week, meantime – it’s started: some radio stations are playing Christmas music . . . .