The Chronicle: Issue 2014-11, March 18, 2014
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What's Going Through The Intersection of Insurance and Technology?
ICTA2014: And the Winners Are ... Portals? (Not) First photos from the ceremony are up at 2014 ICTA winners. |
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Business of Insurance
InsuranceHotline.com: Most Canadians would report a car accident believed to be an insurance scam
The majority of Canadians believe honesty is truly the best policy when it comes to reporting an insurance scam according to InsuranceHotline.com's latest survey on fraud. Interestingly, Canadians do not like reporting insurance fraud when it is someone they know. In fact, only one quarter of Canadians would report a neighbour who exaggerated the items lost during a robbery.
Towers Watson: alternative forms of capital shift the P&C reinsurance landscape
More than half of property & casualty insurance CFOs believe the property reinsurance market is softer than the primary market, while more than one-third deem that the same is true for casualty business. CFOs attribute this softness primarily to the significant growth of insurance-linked securities and other alternative forms of reinsurance capital, according to a new survey by global professional services company Towers Watson.
Celent: customers don't want to buy insurance from Big Brother
Celent sought to understand whether customers were ready to receive messages from the insurance industry that advances in analytics, Big Data, and social technology could allow. The answer from 2,642 US and UK customers was no. On a scale of hating our messages to loving them, the mean response to our survey was at best neutral, and, for most of the messages, much nearer to the hate end of the scale. However, this simple analysis hides some subtleties. Each message has fans who said they would love to receive it from a financial institution.
Consumer Information
Industrial Alliance authorized to administer federal PRPP
Industrial Alliance is pleased to announce that it was granted a licence by the Office of the Superintendent of Financial Institutions to administer the federal pooled registered pension plan. The PRPP is a new pension plan offered to Canadian companies and self-employed workers who operate under federal jurisdiction, as well as companies and self-employed workers in Yukon, Nunavut and the Northwest Territories.
Desjardins Insurance launches innovative approach to help keep employees healthy
Desjardins Insurance has announced the launch of Health PACT (Prevention, Assistance and Counselling by Telephone), a new service for employees of companies with Desjardins group health insurance. Desjardins is the first company in Canada to offer this kind of service designed to help employees take a proactive approach to managing their health and prevent illness-related leaves of absence.
Informatica: Good corporate security and privacy practices can reduce cyber insurance costs
A company's information assets can amount to a significant majority of its value. For many Canadian companies, the intangible nature of sensitive data can present significant challenges in protecting against IT-related damages and information compromises including hacking, malicious and accidental destruction, liability for loss and privacy breaches.
Telematics
The Co-operators introduces new program to reward safe drivers in Ontario using IMS technology
The Co-operators is introducing the en-route Auto Program™ in Ontario, a unique offering that will allow for more customized auto insurance and lower premiums for safe drivers, based on usage-based insurance (UBI) technology developed by Intelligent Mechatronic Systems (IMS). Beginning in April, clients who sign up will receive an automatic discount off their auto insurance, which can increase, depending on their driving behaviour.
Distribution
The Guarantee introduces a CSIO XML eDocs Solution
The Guarantee Company of North America has once again partnered with Brovada Technologies to launch a new eDocs Solution for personal lines brokers. Designed to save brokers time by allowing for easy download of policy documents to a broker management system (BMS), eDocs will enable streamlined workflows and increase ease of doing business with The Guarantee.
Keal Technology and Policy Works announce integration partnership
Keal Technology and Policy Works Inc. announce they have agreed to integrate Keal's Broker Management System sigXP with Policy Works' Commercial Management System. The integration will allow brokers to launch Policy Works transactions directly from sigXP and bring back activities and accounting details into the BMS, thus greatly improving efficiencies for commercial brokers.
In The Community
The Co-operators raises funds for the United Way
Through a series of local staff-led campaigns and payroll deductions, along with a corporate contribution, The Co-operators and its employees across Canada raised money during the 2013 United Way campaign to support the vital health and social services provided by United Way member agencies.