The Chronicle: Issue 2014-23, June 10, 2014
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What's Going Through The Intersection of Insurance and Technology?
Some (Conditionally) Encouraging News for Brokers
Could Ontario election refocus auto insurers on reducing inflated rates? |
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Telematics
IMS opens DriveSync platform for next generation of connected car services
Intelligent Mechatronic Systems Inc., a connected car company, has unveiled the next generation of the DriveSync® connected car platform, which now enables partners to develop value-added solutions within the newly opened cloud based architecture.
Claims
Honda collision warning system trims insurance claims
A combined forward collision and lane departure warning system available on the Honda Accord is reducing insurance claims, a new analysis by the Highway Loss Data Institute shows. The results are even better than expected based on previous studies of such technology on luxury vehicles. HLDI is an affiliate of the Insurance Institute for Highway Safety.
Frank Cowan Company gives Canadian municipalities real-time claims information with Guidewire ClaimCenter
Frank Cowan Company launched Guidewire ClaimCenter® in 2013 as its new claims administrative system. After a successful six-month pilot, Frank Cowan Company is pleased to now offer all Ontario municipal clients access to ClaimCenter as part of their complimentary value added services program.
Business of Insurance
J.D. Power: Canadian homeowners filing more storm damage claims, while satisfaction with insurance providers improves
Despite a significant increase in weather-related insurance claims in Canada, customer satisfaction with their insurance provider is improving, even among those who file a claim, according to the newly released J.D. Power 2014 Canadian Home Insurance Study.
Technology
Guidewire Software announces the addition of Hyland to its SolutionConnect program
Guidewire Software, Inc., a provider of software products to Property/Casualty insurers, has announced that Hyland, creator of OnBase, a leading ECM solution, has joined Guidewire SolutionConnect™. SolutionConnect is a global program for third-party solution providers that work with Guidewire to provide complementary offerings that deliver enhanced value for insurers running their operations on Guidewire InsuranceSuite™.
DMTI Spatial partners with JBA Risk Management to provide an integrated offering for reducing risk and forecasting exposure
DMTI Spatial, Inc., Canada's leading provider of location economics solutions, and JBA Risk Management, a leading provider of natural hazard modelling services for the insurance and reinsurance industry have announced a partnership that will enable DMTI to integrate JBA's Flood Map of Canada into DMTI's location economics platform, Location Hub®. This information will support real-time flood risk analysis, portfolio accumulation risk analysis and the real-time visualization of the potential exposure to flood zones; key data of importance to those in risk management to allow them to better forecast exposure and mitigate risk.
Distribution
Policy Works announces integration with Applied Epic
Policy Works Inc., the leading vendor of commercial-lines software for the Canadian insurance industry, is pleased to announce that its flagship commercial management system (CMS), Policy Works, now integrates with the Applied Epic broker management system (BMS).
Policy Management
EIS Group unveils mobile capabilities for insurance core systems suite
EIS Group Inc. (formerly named Exigen Insurance Solutions), has announced, at the IASA Educational Conference and Business Show, the addition of mobile capabilities to the company's EIS Suite™ of insurance core systems, including PolicyCore™, ClaimCore™, BillingCore™ and CustomerCore™. Mobile functionality is being extended throughout the EIS Suite, which includes two new apps, the Mobile Field Adjuster App and the Mobile Self-Service App, designed specifically to enhance efficiency for insurers and end users.
Industrial Alliance Auto and Home deploys Exigen solutions
Industrial Alliance Auto and Home Insurance and Exigen Insurance Solutions, a global provider of core systems to insurers, have announced that Industrial Alliance has successfully deployed Exigen Suite™ as its new underwriting, policy administration, billing, claim and customer management platform for auto and homeowners and other personal lines of business for its operations in Quebec.
Consumer Information
Your health coverage: games, fitness and obesity
Last summer, obesity was officially recognized as a disease by the American Medical Association. Obesity contributes to numerous health issues, including type 2 diabetes and heart disease. With obesity classified as a disease, it is anticipated that insurance companies and doctors will put a greater emphasis on the condition, and thereby lessen the effects. More funding could be made available to fight it as well.
In The Community
The Co-operators ranked among Best Corporate Citizens in Canada
For the fifth consecutive year, The Co-operators has been ranked among the top ten organizations on the Best 50 Corporate Citizens in Canada list. The Co-operators is ranked #7 on this year's list compiled by Corporate Knights, an organization dedicated to the promotion of responsible and sustainable business practices. The Co-operators was one of five co-operatives on the list, four of which ranked among the top ten.