The Chronicle: Issue 2014-15, April 15, 2014

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What's Going Through The Intersection of Insurance and Technology? Broker Connectivity: Can This Circle Be Unbroken? A recent post on the popular Canadian Insurance Strategy Group's LinkedIn site generated numerous comments that provided a recap of the past plans, present status, and future desires for broker connectivity. The result reminded us of the old quip: “When all is said and done, there is much more said than done.” We would like to get back to first principles here, providing an overview of the broker connectivity (frequently called SEMCI – Single Entry, Multiple Company Interface) landscape, starting with some fundamentals in this post. Changing Driver Behaviour – Can UBI Deliver? (By Colin Wright) Clearly audible amid the buzz surrounding UBI in Canada is the expectation that it will be effective in changing driver behaviour, i.e., it will help drivers improve their skills. This is exciting because a corollary of improved skill is reduced loss costs making changing driver behaviour an important selling point for insurers contemplating a push into UBI. Half or more of those drivers who are very interested in UBI (roughly one-third of respondents) are also reported to be willing to change their behaviour.

The Intersection an Insurance-Canada.ca Blog

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Telematics

RCCAQ: brokers seek to defend their clients over telematics
In light of the rapid growth of telematics technology, which is used to collect and send information to insurers utilizing usage-based auto insurance (UBAI), brokers have undertaken to protect their clients' interests so that the benefits of this new technology remain exclusively reserved for policyholders.

Business of Insurance

The Guarantee's partnership with Millennium delivers cost-effective credit insurance solutions for transportation clients
The Guarantee Company of North America and Millennium CreditRisk Management are pleased to announce their recent partnership to offer TransCred, a new product offered through Millennium that is available to Transportation clients of The Guarantee at preferred pricing and with preferential policy conditions – effective April 9, 2014.

Consumer Information

Travel App: A Traveller's Handy Information Toolkit
Mobile devices increasingly allow us to access a world of data from almost anywhere, but travellers need more than just details about places they are visiting. A traveller, moving from place to place, has constantly changing needs for information about the place they are in, or are travelling to. Enter the travel app, a handy little toolkit or library for the traveller with the need to know.

CAA Quebec study compares new-vehicle warranties
Peace of mind from a bumper-to-bumper warranty is among the key attractions of a new car. But when the details are examined closely, it becomes clear that the true extent of the coverage is often less generous than advertised! There are major differences between brands, as indicated by the annual inspection requirements for anti-perforation coverage or the short audio system coverage provided by some brands.

Policy Management

Columbus Ohio Insurer Grange Insurance Improves Risk Control
With low interest rates and an increasingly competitive environment, it is imperative that insurers focus on pricing all risks correctly. In order to gather more and better information for its independent agents and underwriters, Grange is implementing the RC Inspection software solution from Risk Control Technologies. By deploying the system on tablet devices, inspectors can gather and quickly submit risk data, thereby improving both efficiency and service times.

Technology

Zurich Canada chooses Quindell Solutions technology
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 Zurich Canada, part of the Zurich Insurance Group has contracted to use regul8™, Quindell's market-leading statistical reporting solution.

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