The Chronicle: Issue 2012-47, November 20, 2012
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What's Going Through The Intersection of Insurance and Technology? |
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Telematics Driving Improved Behaviour With Lower Premiums, Other Benefits
The best big data solutions don't look like data |
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Overview of Insurance Events
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Technology
Crum & Forster chooses Accenture for Commercial Lines
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.
eMarketer: Android Tablets Gaining Market Share
According to IDC's Worldwide Quarterly Tablet Tracker, the worldwide tablet market grew nearly 7% over the second quarter of 2012. Android sales skyrocketed, while Apple lost share. Although Apple's slowdown was partly due to consumers waiting for the company's late October launch of the iPad Mini, the generous growth by Android's Samsung tablet devices indicates that iPad alternatives should not be discounted.
Capitol receives ‘Transformation’ Novarica Impact Award
OneShield, Inc., a global provider of flexible, enterprise-class, content-rich policy and billing core systems for property/casualty insurers, is pleased to announce that Capitol Insurance Companies has received a 2012 Novarica Impact Award in the Transformation category for the innovative approach the company took in replacing multiple legacy surety systems with a single modern platform, OneShield Dragon.
Copy-paste drives sharing – what about copyright?
Social sharing buttons may be sexier, but according to research from user engagement platform Tynt, copy and paste is the sharing method of choice 82% of the time. The service, which offers a way for content publishers to track sharing behavior through embedded code that indicates referrals and includes site URLs when content is pasted elsewhere, reported that in October 2012, 2% of all page views across its network involved a copy and paste.
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Claims
Standard Life to introduce end-to-end electronic claims processing
The Standard Life Assurance Company of Canada today announced that its group insurance customers – plan sponsors and members, and intermediaries – will soon benefit from an integrated electronic healthcare claim management solution, which will optimize every aspect of claim submission, adjudication and processing.
Consumer Information
CAA: Get prepared for winter driving
It is time to get your vehicle winter ready before the deep freeze sets in. CAA South Central Ontario is encouraging drivers to follow some important tips to avoid being left in the cold this winter.
Sun Life marks World Diabetes Day with funding pledge
Today is World Diabetes Day. Diabetes is a disease that is growing in Canada with almost 40 per cent of Canadians having someone in their lives impacted by the disease according to the 2012 Sun Life Canadian Health Index. To help combat this epidemic, Sun Life Financial announced a five year commitment of $5 million to the University Health Network. This donation will support transformational research focused on bringing us closer to a cure, as well as promoting and providing prevention and care programs.
QWeMA Group updates retirement income planning system
The QWeMA Group today announced the release of its third generation computational algorithms for Retirement Income planning. These algorithms provide a powerful set of analytic and PDE-based functions that equip financial specialists, planners, and researchers with tools to explore and solve the most important questions in retirement planning. The new release provides additional functionality (such as joint-life analysis) and faster computational processing.
Business of Insurance
Consumers at odds with marketers over advertising
Even while marketers have taken strongly to digital advertising, they haven’t abandoned traditional media by any means—TV still takes the largest share of ad dollars in the US, and its percentage of the total isn’t slipping. But with the measurability inherent in online ads, confidence in their efficacy is generally high.
“Where are we today?” OSFI Remarks to the 2012 Life Insurance Invitational Forum by Superintendent Julie Dickson
Remarks by Superintendent Julie Dickson Office of the Superintendent of Financial Institutions Canada to the 2012 Life Insurance Invitational Forum in Cambridge on Nov. 15, 2012: “It is always a pleasure to meet with you at this annual forum, which brings many of the life insurance industry's key players into one room. I was here almost exactly a year ago. The main topic then was the challenge of a sustained low interest rate environment, and its effects on your business, with its long term guarantees .... Where are we today?”
Our People: Human Resources
Manulife Financial appoints new Chief Operating Officer
Manulife Financial today announced that Paul Rooney has been appointed Chief Operating Officer (COO) and Senior Executive Vice President, effective January 1, 2013. Mr. Rooney will report directly to Manulife President and Chief Executive Officer Donald A. Guloien. Mr. Rooney's successor as General Manager of Canadian Division has been identified and will be announced shortly.
Manulife CEO Donald Guloien named International Business Executive of the Year
At the presentation of the Canadian Chamber of Commerce International Business Executive of the Year Award on November 15 in Toronto, Donald Guloien took the opportunity to thank all of the employees and partners at Manulife Financial who have contributed to this award and success, "This award truly belongs to all of Manulife's employees, past and present. I am extremely proud and humbled to receive this award on their behalf," said Mr. Guloien.
From Joe:
We're on the downward slope of November and the days are getting short. It's Reinsurance Treaty renewal time, preparation for financial closings and of course for those who start early (not me) Christmas shopping is heating up; the malls looked much more active this weekend and parking lots were full. I think that's a good thing – we have very decent weather for this time of year, in fact the hardy ones can still get out and play 18. I always enjoyed the days when I could golf in the afternoon then curl at night – something in that combination just did it for me.
Here's hoping all the fellows are doing well with their Movember fuzz and getting lots of $$$ from sponsors toward a good cause!