The Chronicle: Issue 2014-47, November 25, 2014
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What's Going Through The Intersection of Insurance and Technology?
Broker/Agent-Insurer Alignment Grows, As Do Portals
Does the Big Data Future Start with One Step Back? |
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Technology
Xchanging survey: insurance market gearing up for greater investment and technological innovation in 2015
Xchanging plc, the business process, procurement and technology services provider, today released the results of an industry survey it recently undertook in partnership with Insurance-Canada.ca. The survey was designed to gauge the overall health of the Canadian insurance market, as well as companies' planned investments, business priorities and growth strategies for 2015.
LexisNexis Risk Solutions launches Fraud Defense Network
LexisNexis Risk Solutions has announced the launch of the LexisNexis Fraud Defense Network, the first-of-its-kind alliance that seeks to link organizations across all industries with resources, information and actionable intelligence to predict, detect and mitigate the risks that fraud presents.
TEI/IET Mobility Newsletter: Electric Vehicles, Insurance and Climate Change
Electric Mobility Canada held its sixth annual conference and trade show, EV2014VÉ, in Vancouver. It marked the first year where Canada's leading insurer was involved in an electrification of transportation industry event. Insurer representatives and brokers had the opportunity to see, touch, hear about and drive some of the latest plug-in models available in this country. The insurance industry, more than most industries, is keenly aware of the impact of GHG emissions and climate change on their operations and the bottom line. Read about the brokers' comments from the “ride & drive” and more about the progress of EV in Canada – 2015 looks to be a bigger year yet.
Pitney Bowes advances the consumerization of mapmaking with MapInfo Pro 64-Bit
Pitney Bowes Inc. has announced the release of MapInfo Pro 64-bit, which simplifies map production and enables businesses to quickly and easily create and analyze important geographic data. Built on MapInfo technology, the new release highlights Pitney Bowes' ongoing investment in its location intelligence software that's used by more than a billion people worldwide.
Distribution
ICTA nomination: Group Medical Services Broker Portal & Customer Portal
Group Medical Services (GMS) is committed to providing our Brokers with state-of-the-art applications to manage their GMS book of business. GMS uses web best practices to develop new interfaces for the broker in secure portals to easily manage the broker relationships and GMS contracts. The Broker can now make changes to all pending Travel policies immediately or request an expedited change for in-force policies with the simple click of one button.
Claims
Towers Watson: Engaged handlers are crucial to superior P&C claim management
Loss cost containment is the paramount operational goal of chief claim officers (CCOs), and proactive, engaged claim handlers are essential to achieve that end, according to results of the ninth Towers Watson Property and Casualty Claim Officer Survey.
Business of Insurance
EY survey: Many Canadian businesses won't boost IT security budgets despite rising cyber threats
Most Canadian organizations say they are facing rising threats in their information security risk environment, but less than half will boost their information security budgets in 2015, according to EY's annual Global Information Security survey, Get Ahead of Cybercrime.
Industrial Alliance launches FORLIFE Series solution for better retirement planning
Industrial Alliance Insurance and Financial Services is happy to announce the addition of the FORLIFE Series to its individual savings and retirement plan (IAG SRP). This new lifetime guaranteed income solution meets the needs of clients looking to grow their retirement savings through market investments in order to build up a stable, guaranteed lifetime retirement income. The FORLIFE Series also meets the needs of clients seeking a lifetime guaranteed income right away.
Marketing
eMarketer: Does anyone really use Social for customer service?
Many firms began using social media for some form of customer service just as soon as consumers started tweeting and posting complaints about their brands online – and while the decision to respond to those messages may have been a good one, transferring significant customer service functionality to social sites may not be a good idea. Even for the simplest of inquiries, the vast majority of consumers prefer other forms of communication.
Consumer Information
IBAO applauds passing of Ontario legislation which will reduce costs for drivers and fight fraud
The Insurance Brokers Association of Ontario (IBAO) is pleased with the Ontario government's recent passing of Bill 15, The Fighting Fraud and Reducing Automobile Insurance Rates Act, 2014. When fully implemented, this Bill should help reduce the cost of auto insurance rates for Ontario consumers and improve access to justice with a more effective dispute resolution process.
IBC shares top maintenance tips for winterizing your home
Now that snow has made its first appearance across the country, Insurance Bureau of Canada offers Ontarians maintenance tips to protect their homes over the winter season. Low temperatures, high winds, significant snow fall and freezing rain can be hard on houses, but by following a few simple maintenance tips, you can help ensure your home and property remains in good condition over the winter months.
THIA report: Travel Health insurance saved Canadians millions
The vast majority of Canadians who purchased individual travel health insurance policies had their claims paid, says a report based on a KPMG survey of Canadian providers commissioned by the Travel Health Insurance Association (THIA). The top two reasons for denied claims include medical non-disclosure and misrepresentation and for pre-existing conditions that were not stable as required by policies.