The Chronicle: Issue 2014-18, May 6, 2014
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What's Going Through The Intersection of Insurance and Technology?
Brokers: It's not Paranoia, They Are Out to Get You
UBI and Brokers: Ticket to Ride or Highway to Hell? |
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Technology
Collision avoidance systems can decrease accidents , according to preliminary research findings
Using SAS software, Ron Actuarial Intelligence shows that collision avoidance systems can decrease accidents 40 percent, improve safety, reduce insurance premiums for customers, and increase revenues for insurance companies.
CGI signs contract with Desjardins Group as part of State Farm acquisition
CGI has announced the signing of a 21-month contract with Desjardins Group. The contract is being awarded as part of the acquisition project, announced last January, involving the Canadian property and casualty and life insurance operations of State Farm, the largest mutual property insurance company in the United States.
Business of Insurance
Frank Cowan Company: Quote and bind select select specialty insurance products in 10 minutes with Instant Quote
Frank Cowan Company's online rating tool, Instant Quote, is now available across Canada for small non-complex schools, daycares and community services. Instant Quote helps brokers to easily generate a quote and binder in under 10 minutes with very few steps.
Guy Carpenter report shows insurance industry continuing to release reserves through 2014
Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, has has updated their analysis of the reserve cycle by examining accident year data for eleven lines of business based on 2013 annual statutory statements.
Policy Management
Exigen suite of insurance core systems enters IBM Cloud marketplace
Exigen Insurance Solutions has announced a partnership with IBM that brings the power of the Exigen Suite™ of insurance core systems for policy administration, billing and claims to the IBM Cloud marketplace. Starting April 29, 2014, IBM clients can learn about and gain access to a virtual pattern of the Exigen Suite that operates on the IBM PureApplication Service on SoftLayer.
Consumer Information
Springtime, Sports, and Insurance
The winter this year has been a long one, and cold. Now that Spring is here – or seems to be, some days – many Canadians who may not have not been involved in outdoor sports during the winter start to become more active. Due to the cost of diagnosis and treatment in specialty areas such as sports medicine, it is wise to at least consider athletes' health insurance, whether as casual or as extremely active and competitive participants.
Distribution
BrokerLink acquires Anthony Clark Insurance Brokers Ltd
BrokerLink, one of Canada's largest property and casualty insurance brokerages, have announced the acquisition of the ownership position held by Anthony Clark International Insurance Brokers Ltd in Anthony Clark Insurance Brokers Ltd (ACI).
Pets and Animals
Insurance for Fido and Felix?
Pet insurance exists for the same reason as auto, home, and life insurance – namely, to protect against sudden and potentially large financial expense. Pets, like people, can have accidents or suffer illnesses which require treatment. Treatment can be expensive. Pet insurance can help to make this expense affordable.
In The Community
The Co-operators partner with Canadian Co-operative Association for international volunteering program
The Canadian Co-operative Association and The Co-operators have announced a new partnership on a pilot program offering international volunteering opportunities to Co-operators employees. The volunteer placements will allow employees to work for three weeks in co-operatives in the developing world.