The Chronicle: Issue 2012-49, December 4, 2012
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What's Going Through The Intersection of Insurance and Technology?
What Did We Learn Today, Dorothy? Aviva Restarts Telematics Program Our question: Will this encourage Aviva Canada to bring forward a revised ‘Autograph’ program? |
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Business of Insurance
Allstate named Best Employer in the GTA
Allstate Insurance Company of Canada has been listed as one of 2013's Best Employers in the Greater Toronto Area, as featured in the Toronto Star. The annual ranking identifies companies with the highest employee engagement.
CCIR report on use of credit scores by insurance companies
In the spring of 2009, there was considerable media attention about the use of consumer credit information by insurance companies. The Canadian Council of Insurance Regulators decided to establish a Credit Scoring Working Group with a mandate to research and gather the facts surrounding credit-based insurance scores and how they are used in today's regulatory environment.
Technology
OneShield releases Dragon Designer update
OneShield, Inc., a global provider of flexible, enterprise-class, content-rich policy and billing core systems for property/casualty and general insurers, is pleased to announce the immediate availability of Dragon Designer v6.0.
SAS a top pick for insurers in 2012
Big data demands, coupled with increasing exposure from fraud and risk, are pressing insurers to seek a technological advantage. Business analytics leader SAS is clearly offering a lifeline. The evidence: worldwide revenue growth rate topping last year's figures for the same timeframe. Improving the customer experience emerges as a priority for insurers, with new sales for customer intelligence solutions increasing a striking 520 percent compared to 2011.
Distribution
Onex announces acquisition of USI
Onex today announced that it has agreed to acquire USI, a leading U.S. provider of insurance brokerage services, for $2.3 billion. The transaction is anticipated to close by the end of 2012 subject to customary conditions and regulatory approvals.
Consumer Information
eMarketer: Money-saving and convenience trump Canadians' online privacy concerns
Consumers in Canada, like consumers around the globe, have understandable concerns about the creeping disintegration of privacy, as personal information and behaviors are now more transparent and readily available to companies than ever before. But deeper study shows that consumers are also reflective about this trend, and when put in context, their concerns often play second fiddle to gaining advantages that can help them in concrete ways.
IBC warns of flood-damaged vehicles for resale after Superstorm Sandy
As the Northeast and Mid-Atlantic region recover from "Superstorm" Sandy, which hit between October 29 and 31st, Insurance Bureau of Canada warns Canadians to be vigilant of storm-damaged vehicles being resold to unsuspecting consumers.
CLHIA unveils guide to long-term care insurance
Today, the Canadian Life and Health Insurance Association published a new brochure, A guide to long-term care insurance, as part of its ‘Ready for Life’ campaign during Financial Literacy Month. It provides information on long-term care insurance in order to help consumers understand why it should form part of their overall financial plan.
Allstate Ontario Safe Driving Study Shows Improvement
Ontario roads have become a little bit safer in the past two years, according to a new study from Allstate Insurance Company of Canada. The fourth annual Ontario Safe Driving Study released today looks at collision claims from Allstate Canada customers across the province and found Ontario drivers had 3.3 per cent fewer collisions than in the previous 24 month period. For a second time, Brockville took the top spot as the community with the lowest collision rate.
IBC offers seasonal safety tips for the holidays
The holiday season is a special time of year to spend lots of time with loved ones. It is also a time that can give rise to many safety hazards as we participate in festive activities. Insurance Bureau of Canada (IBC) reminds Canadians to review some important seasonal tips to enjoy the holidays safely.
Claims
Canada's “Superstorm Sandy” damages estimated at $100 million
Insurance Bureau of Canada reports that the estimated insured property damage caused by the recent “Superstorm” Sandy that hit Ontario and part of Quebec amounts to approximately $100 million. This is a preliminary estimate reported by Property Claim Services Canada (PCS-Canada), a service that tracks insured losses arising from catastrophic events in Canada.
Homesite chooses Innovation Group for claims upgrade
The Innovation Group today announced Insurer Claims and Insurer Analytics, components of the Innovation Insurer suite, were selected by Homesite Group Inc. to replace the company's claims administration systems. After implementation, Innovation Group's software will provide a business platform that will support Homesite's continued innovation and growth in the personal lines property insurance market. Specifically, the out-of-the-box capabilities of Insurer Claims will be employed to speed implementation.
Berkshire Hathaway Homestate picks RC Inspection from Risk Control Technologies
Risk Control Technologies Inc., the industry-leading provider of loss control software solutions for insurers, today announced that The Berkshire Hathaway Homestate Companies has selected the RC Inspection software solution to streamline its loss control operations. BHHC offers workers compensation, commercial auto, commercial property and public entity insurance products for main street businesses and difficult to place risks.
Our People: Human Resources
Manulife announces Chair Transition and Succession
Gail Cook-Bennett, Chair of Manulife Financial Corporation and The Manufacturers Life Insurance Company today announced on behalf of the Board of Directors, the appointment of Richard DeWolfe as Vice-Chair, effective December 1, 2012.
Foresters: Sonia Baxendale joins Board of Directors
Dick Freeborough, Chairman of Foresters Board of Directors, announced today the election of Sonia Baxendale as the newest member of the Board. As part of her responsibilities, Sonia will join the Board's Audit, Risk and Investment Committee.
Joe's Corner:
Lesson learned (though probably forgotten by next year); I distinctly remember posting an article on getting a flu shot, and now wish I had paid more than lip service to it.
It looks like quite a few companies are having children's Christmas parties – nice to see they have the spirit and interest to provide social activities not just for the employee but also the family. It's a good message!