The Chronicle: Issue 2015-49, December 8, 2015
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What's Going Through The Intersection of Insurance and Technology?
Climate Change From Here and There: Some Canary, Some Coal Mine |
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Distribution
Novarica Research Partners program report: Challenges and Opportunities for Life Insurance Illustrations
As individual life insurers look for ways to better compete on customer experience, illustration tools have become more important in the sales process. Many carriers have in-house developed programs that limit the ability to maintain updates for new products, which affects the speed to market, and these systems also are more difficult to integrate with electronic applications and other capabilities for both new business and in-force illustrations. This report presents results from a survey on illustration system capabilities at 10 carriers that offer individual life products.
Claims
OneShield Software introduces OneShield Claims, the last module to “complete-the-suite”
OneShield Claims is a powerful and user-configurable claims administration system that completes the acclaimed OneShield Enterprise core system platform. It has been developed with an eye to enhancing customer service expectations, address the increasing competition in the global insurance industry and the challenges of the regulated claims environment. OneShield Enterprise offers end-to-end core management capabilities of Policy, Billing, Rating, Claims, Customer and Partner management for the global P&C market.
InEdge: Improving claims operational efficiency through analytics
With daily oversight of appraisers, body shops, parts and labor, claim managers are well-positioned to improve the efficiency of their operations. With insurance analytics designed for claim managers, new information can be gathered from data already residing in the system, and quickly put to use.
Business of Insurance
Globe & Mail 2015 Insurance Trends Report
On December 1st, the Globe and Mail published its 2015 Insurance Trends report, featuring two articles. RBC Insurance provided information about Disability Insurance with perspectives by Cathy Preston, Vice President of Life & Health. And Insurance-Canada.ca partner Doug Grant noted that the rapid changes in technology are changing the nature of risks while affording new opportunities – and challenges – to those in the insurance industry.
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Insurer Challenge: Earning and Retaining Customers Customers want a dynamic, multi-channel experience wherein their needs are met and their preferences are understood. Insurers want each interaction to be optimal. Examine the challenges, strategies and the 7 technology essentials required to deliver “The Ultimate 360° Insurance Experience” – learn from:
Attend ICTC2016: “Technology: A Two-Edged Sword”. For broker distribution challenges, attend ICBF2016: “Brokers on the Digital Expressway”. |
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Marketing
Gartner survey reveals digital marketing is now mainstream
Digital marketing is now mainstream, and digital commerce is a top priority for marketers, according to a survey of marketing executives by Gartner, Inc. The survey also found that marketing budgets increased 10 percent in 2015, with 61 percent of respondents saying they expect budgets to increase again in 2016. These findings form part of Gartner's 2015-2016 Chief Marketing Officer (CMO) Spend Survey that included responses from business leaders responsible for marketing – in particular, digital marketing – in 339 large and extra-large companies in North America and the U.K.
eMarketer: How many apps do smartphone owners use?
There's almost always an app for that, whether “that” is a taxi service, food delivery or a video game. But with so many popping up all the time, how often are any of them being used A Localytics survey, conducted by Research Now in October 2015, reports that 49% of US smartphone app users use six to 10 smartphone apps each week.
Consumer Information
Sun Life survey: Nearly half of Canadians unhappy about debt
Canadians are a happy bunch, but many find themselves singing the blues about the state of their personal finances. While 85 per cent of Canadians say they are happy, almost half (45 per cent) say the level of debt they are carrying is making them unhappy, according to findings from the 2015 Sun Life Canadian Health Index.
IBC's Top 10 Most Frequently Stolen Vehicles For 2015
Insurance Bureau of Canada has published its annual Top 10 Most Frequently Stolen Vehicles list. Once again, Ford trucks and expensive SUVs figure prominently. However, this year, organized criminals have taken a different approach hoping to avoid being detected and caught when exporting the stolen vehicles. Crooks are trying to fool Canada Border Services Agency and IBC by dismantling high-end, late-model vehicles and distributing them in parts.