The Chronicle: Issue 2015-19, May 12, 2015
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What's Going Through The Intersection of Insurance and Technology?
What is Digital Marketing? Exactly What YOU Make It To Be
Is UBI Trapped in a Cul-de-sac? by Colin Wright |
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Business of Insurance
The Co-operators acquires majority of The Edge Benefits
The Co-operators has announced that it has purchased a majority interest in The Edge Benefits. The current management team will remain in place and The Edge Benefits will continue to operate independently. The Edge Benefits is a successful, financially strong company that will benefit from the backing of a national multi-product insurance company. The Co-operators will help ensure its continued stability and long-term success in promoting its best-in-class product offerings from leading Canadian insurers.
Munich Re report: autonomous vehicles considerations for personal and commercial lines insurers
As analysts attempt to quantify the social and economic benefits of Autonomous Vehicle (AV) technology, the insurance industry is contemplating the impact, particularly as it applies to liability exposures. Who will be liable when an AV is involved in an accident? Will liability shift from driver to manufacturer as vehicle control shifts from human operator to autonomous systems? Will accident – related liability exposure all but disappear? How will we manage cyber liability exposures that may arise?
Technology
John Hancock introduces life insurance that rewards healthy living
John Hancock Insurance has announced a whole new approach to life insurance that rewards people for healthy living. Developed through an exclusive, first-ever U.S. life insurance partnership with Vitality, the global leader in integrating wellness benefits with life insurance products, the innovative, new life insurance solution provides policyholders with industry-leading financial protection, as well as opportunities to significantly save on their annual premiums and earn valuable rewards and discounts for taking steps to improve their health.
Distribution
eMarketer: brokers & agents connect with clients & prospects on social
Commercial insurance decision-makers frequently turn to brokers/agents when it comes time to purchase. According to December 2014 research by LinkedIn, nine in 10 decision-makers/influencers in purchasing commercial insurance/employee benefits at their organizations used a commercial insurance broker or agency for at least some purchases – and social provides a way for both parties to conduct research about and connect with one another.
CSIO: Canadian brokerages adopt TLS email security
The Centre for Study of Insurance Operations is pleased to announce that adoption of Transport Layer Security (TLS), for email security, among its member brokerages across Canada has increased by 14% for the national average. Since CSIO initially released its TLS Map in November 2014, most provinces have increased TLS adoption among their member brokerages, with Saskatchewan, Alberta and British Columbia all making substantial double-digit percentage increases.
Rogers Insurance: Inowest Insurance Brokers acquires Sylvan Agencies Ltd.
Rogers Insurance Ltd. is pleased to announce, under the previously formed Inowest Insurance Brokers Inc. brand, the acquisition of Sylvan Agencies Ltd., which operates as Sylvan Agencies in Sylvan Lake, AB and Procom Insurance in Red Deer, AB.
Portage Mutual Insurance obtains CSIO certification for eDocs
The Centre for Study of Insurance Operations is pleased to announce that Portage la Prairie Mutual Insurance Company has achieved CSIO Certification for its eDocs solution. CSIO data exchange standards are company neutral and help solve data compatibility issues, facilitate more efficient and seamless integration of information and improve implementation of technology solutions. CSIO Certification is available to member insurance companies and vendors. eDocs is the first business activity available for certification, with plans to expand the program to cover other activities. When eDocs are used to their full potential, sending, receiving, sorting, scanning and destroying paper is no longer necessary, saving the industry significant amounts of time and money.
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“Emerging Threats and Opportunities”: 2015 Executive Forum The Canadian P&C industry is facing unprecedented threats from technology-driven forces: new competitors/distributors, more sophisticated consumers, aging/inflexible production systems, and more. At the same time, technology is offering new opportunities to assess, manage, price, and underwrite existing risk more effectively, identify new risks and develop new products more rapidly, and to distribute solutions more efficiently. In its third year, the Insurance-Canada.ca Executive Forum will provide senior executives with actionable information on mid- to long-term trends from practitioners, analysts, and technology suppliers. It will also allow interaction with the faculty and peer attendees. Registration is now open. More details. |
Monday, August 31, 2015 |
Telematics
Daimler Trucks debuts self-driving big rig
Its name is Inspiration and Daimler Trucks says it's the first-ever self-driving semi-truck licensed to drive on public roads — in this case Nevada's highways — not only for testing, but business, too. Daimler debuted the self-driving big rig Tuesday night with a drive — and a driver steering — atop the Hoover Dam on the Nevada-Arizona border. On Wednesday, the company planned test-drives with invited members of the media to show off the automated technology. The truck isn't quite a working reality, though. For one, Daimler isn't taking customer orders just yet.
Claims
Guidewire: RSA Canada selects ClaimCenter for Claims Management
Royal & Sun Alliance Insurance Company of Canada and Guidewire Software Inc. have announced that RSA Canada has selected Guidewire ClaimCenter® as its claims management system. RSA Canada selected ClaimCenter as a key enabler to support and deliver RSA Canada's business transformation focused on delivering an exceptional customer and broker experience. RSA Canada is investing in tools and digital processes that provide simpler, faster and more consistent service to their customers and brokers. ClaimCenter consolidates RSA Canada's current multiple claims systems and will be deployed across all of RSA's core lines of business incorporating best practices in claim management.
Jobs and Careers
ingenie: Lorie J. Phair appointed CEO of ingenie Canada
Auto insurance provider ingenie has named Lorie Phair as the CEO of ingenie Canada. The company plans to repeat the success it has had in the U.K. by helping young drivers stay safer, resulting in lower insurance rates. ingenie has been available to young drivers in Ontario since March and plans to expand to other Canadian provinces in the future.
Consumer Information
ICBC: B.C. government and police focus on high-risk driving
We've all likely seen a crash nearly happen – a driver who didn't allow enough time and space to make a left-hand turn safely or a driver who didn't yield to a pedestrian or cyclist in a driveway. While some may think these driving behaviours are harmless, failing to yield is one of the top high-risk behaviours that lead to crashes every day. High-risk driving, which includes failing to yield, speeding, following too closely and ignoring a traffic control device, contributes to almost half of all police-reported crashes that result in injuries or fatalities each year in B.C. ICBC and police have responded with a month-long high-risk driving campaign at an intersection in Vancouver.
Manitoba Public Insurance launches new insurance coverage for motorcycle owners
Manitoba motorcycle owners will have more options when they purchase insurance, Manitoba Public Insurance has announced. The new products will provide motorcycle owners with greater peace of mind and added convenience in the event of a collision. As of May 4, motorcycle owners are able to purchase new products from their Autopac agent including Rental Vehicle Insurance, Excess Value Coverage, and New and Leased Vehicle Protection Extension Insurance.
IBC: Construction quality, lack of maintenance are two condo market issues
With the condo inventory aging and water damage up sharply in recent years, Insurance Bureau of Canada (IBC) is urging condo owners to remain actively invested in the life of their building and make sure it's regularly maintained. A recent SOM poll of condo owners in Quebec commissioned by IBC revealed that a quarter of them didn't know who's looking after the maintenance and repairs when required. And almost half of them didn't know what was covered by the condominium syndicate's insurance.
CAA SCO: travel insurance tips for your next cross-border shopping trip
If you're planning on driving across the U.S. border for shopping or travel, CAA South Central Ontario (CAA SCO) recommends you put travel insurance on your road-trip checklist. CAA SCO recommends that you purchase travel insurance when cross-border shopping even if your stay is only for a day or two. Don't buy travel insurance on price alone, and make sure you understand your coverage before you leave.