The Chronicle: Issue 2014-14, April 8, 2014
|
What's Going Through The Intersection of Insurance and Technology?
Insurance-Technology 4.0: Are We on the Cusp? |
|
Business of Insurance
EY: Pressure is on P&C insurers to improve bottom line after catastrophic losses in 2013
After a series of catastrophic losses in 2013, Canada's property and casualty insurers need to focus on improving their bottom line through internal investments in technology and operations. According to a new EY report, this is especially critical for those companies seeking growth via mergers and acquisitions.
GPL Assurance acquires JLT Canada's Quebec Business
GPL assurance inc. has acquired the Quebec business of Jardine Lloyd Thompson Canada. As a result of the acquisition, GPL becomes JLT's exclusive broker in Quebec and a member of The JLT International Network.
Consumer Information
The Co-operators launches usage-based insurance for drivers in Ontario
Ontario drivers who sign up for the en-route Auto Program from The Co-operators will now automatically receive a five per cent discount on their auto insurance, and could earn a discount up to 25 per cent, depending on their driving behaviour. The innovative program not only allows premiums to reflect actual driving behaviour, it also provides a wide range of personalized information online.
Telematics
Telematics Update: Smartphone UBI apps build trust between insurer and consumer
Smartphone UBI apps, currently revolutionising the insurance telematics market, have the potential to build trust between the insurer and the consumer in the automotive insurance market. Now that early stage challenges such as battery reliability and data validation issues are being overcome, insurers are steadily beginning to adopt app solutions to launch their first forays into the UBI sphere. Indeed, the benefits for insurers to adopt a smartphone app are numerous.
Quindell contract has potential for largest telematics rollout globally
Quindell Plc, the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets – being Insurance, Telecommunications and their related sectors – is pleased to announce that it has signed the world's largest telematics contract to date. The contract takes the form of a joint investment with the RAC in a new company, Connected Car Solutions Limited, to distribute Quindell and the RAC's combined connected car capabilities.
Towers Watson survey: Canadian drivers very receptive to usage-based auto insurance
Canadian drivers say they are unmistakably open-minded about purchasing usage-based auto insurance (UBI) policies, or “pay as you drive” insurance, according to a new survey by global professional services company Towers Watson. Towers Watson's UBI Consumer Survey results are fairly consistent with other global markets and a clear indication that UBI is gaining momentum in the Canadian marketplace.
Technology
Information Builders and Esri expand partnership to deliver advanced mapping capability
At the Gartner Business Intelligence and Analyics Summit, Information Builders, a leader in business intelligence and analytics, information integrity, and integration solutions, announced that it has expanded its partnership with Esri, the market leader in GIS solutions. The relationship leverages Esri's leading location and mapping technology to easily deliver the most current geographical data to WebFOCUS users and help them better understand the geographic forces that impact their business.
Marketing
Erie Mutual turns to analytics to improve sales, marketing and awareness
For most companies, the keys to success require meeting the needs of current customers, attracting new prospects and increasing brand awareness. But when a company knows little about its current customers, has relied for years on word-of-mouth marketing and faces increasing competition from rivals, the prospects for success can seem challenging.
Jobs and Careers
DGA Careers opens new Calgary office
Gerald Legrove, President of DGA Careers and Tom Rivers, Managing Director of DGA Careers Vancouver office, are pleased to announce the opening of their new insurance industry recruitment and executive search office in Calgary. Jennifer Devlin joins DGA Careers as Senior Recruiting Consultant for the Calgary office.
InsuranceWorks: Insurance jobseekers get new services
The days of the “job for life” are long gone. Hopefully the current days of mostly short-term contracts, especially for younger employees, will evolve into a happier middle ground. For those who have found a career in insurance and at the same time want to keep their finger on the pulse of advancement opportunities, some new tools to help them do that better have been developed by InsuranceWorks.ca.