Issue 2002-22:   October 29, 2001

This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.

This Thursday Relationship Conference: Relationships among Consumers, Distributors, and Insurers, not to mention a wide variety of services providers, are changing as the use of technology evolves. Attend Insurance-Canada.ca's fall one-day Conference: Leveraging Relationships: New Technologies....New Opportunities this Thursday Nov. 1, Sheraton Centre Toronto, and explore how relationships have evolved, and hear some predictions about the next generation; details at www.insurance-canada.ca/seminars/seminar20011101.php - enroll today!!

Distribution:

Manulife Financial and Zurich Canada, two of Canada's leading insurance companies, have formed an alliance that targets small business owners across the country broader, and giving them access to a full range of insurance products. Under the agreement, Zurich Canada brokers will refer clients who want to buy group life and health insurance products to Manulife advisors. In turn, Manulife advisors will refer small businesses that need property and casualty products to Zurich Canada brokers. more at www.insurance-canada.ca/distribution/canada/ZurMan200110.php

TD Insurance, at Canada's leading e-insurance site, www.tdinsurance.com, is offering an industry first with the introduction of online approval for its Survivor's Financial Plan, a critical illness insurance product that can provide valuable cash benefits and peace of mind for Canadians. more at... www.insurance-canada.ca/distribution/canada/TD200110.php

The list of companies who will offer guaranteed prices through the CSIO Insurance Portal is growing, as is the involvement by industry players. Lombard is the most recent company to join CSIO. Jamie Chevrier, Vice President Personal Lines at Lombard stated "Lombard has always had a focus on developing and supporting technological advances that ultimately make it easier for our broker partners to do business." More at www.insurance-canada.ca/distribution/canada/CSIOLomb200110.php

As the CSIO impetus to enhance P&C brokers' sales and service capability grows, more tools are becoming available to assist companies to participate. As the first vendor to provide proven connectivity to the CSIO Portal, Sherwood International has been working with its forward thinking clients like Markham General Insurance to build and test this technology. For more information about Sherwood's offerings, www.insurance-canada.ca/poladmin/announce/SherwoodCP200110.php

For a review of some of these developments relative to the Broker community, my column from the current Oct/Nov issue of Alberta Broker magazine, entitled "Brokering the Internet" at www.insurance-canada.ca/distribution/canada/IIBAADG200110.php

As processes and supporting systems enable rapid, if not instant, responses to various transactions, internal systems must reach out to partners and distributors. These systems need to respond to market place demands more quickly and easily. To learn more, an impending Life Underwriting

SEMINAR:

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CGI's Life Insurance Underwriter Breakfast Seminar T+40 to T+1, The Need for Speed!

Topic: Challenges, trends, and innovative sales and underwriting solutions for Life underwriters today.
Speakers: Ross Morton, RGA Life Reinsurance Company of Canada; Byren Innes, NewLink Group; and Richard Neale, CGI
Date: Thursday, November 8, 2001
Registration and Breakfast: 7:30 a.m. to 8:00 a.m. Seminar: 8:00 a.m. to 10:00 a.m.
Location: The Board of Trade, 1 First Canadian Place, 4th Floor, Toronto
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One of the by-products from the Sept. 11 WTC tragedy has been an increased focus on illicit funds. Money laundering has long been an issue, and it was a hot topic as Canadian Financial Advisors gathered in Toronto at the CAIFA convention last week. More at www.insurance-canada.ca/distribution/canada/CAIFAML200110.php

While terrorist activities are front and centre in our news media, the ongoing loss of life on our highways continues to receive attention. The real problem parents are facing is the anxiety of their teen hitting the streets with the family car. Now agents and brokers can offer a new solution to ease the tensions and fears of parents with new teen drivers. They can be introduced to the I Promise Program. Although it may use a Web site and 1-800 numbers, the approach is decidedly a people and relationship one, which should foster better driving habits, and save lives. More at www.insurance-canada.ca/market/canada/IPromise200110.php

Long a thorn for the auto insurance industry and society as a whole, uninsured motorists are also getting attention. Four insurance companies and more than 20 broker and agent offices have begun a six-week test of IBC's Critical Coverage Reporting (CCR) in preparation for rollout of the Uninsured Vehicles (UV) Project for Ontario next fall. A second test is planned during the winter and live data capture will commence in the spring, before the Ministry of Transport of Ontario will start checking for coverage during the licence plate renewal process in the fall of 2002. More at www.insurance-canada.ca/poladmin/canada/IBCCCR200110.php

Claims fraud is a growing issue. Fraud costs half a billion dollars a year, a new study released by Canadian Coalition Against Insurance Fraud says. The study, Premeditated and Opportunistic Fraud in Personal Injury Claims, is the first of its kind and is based on a review of more than 4,000 closed claims that resulted in payment in the Atlantic provinces, Ontario, Manitoba, Saskatchewan and Alberta. The study was prepared for the CCAIF by a team of researchers with the Gerald Schwartz School of Business and Information Systems at St. Francis Xavier University in Antigonish, Nova Scotia. More at www.insurance-canada.ca/claims/canada/CCAIF200110.php

e-Business is growing, and e-mail is the simplest and most widely used form of communications which has been fostered by the Internet. If your company uses email, provides email service for your employees, or allows your employees to use e-email for business purposes, you have to have a written email policy. To not have one opens you up to all manner of headache and potential liability. From "Your Virtual Insurance" newsletter as published by SellingWithTechnology.com. More at www.insurance-canada.ca/ebusiness/other/email200110.php

from Doug:

The sun got up earlier this morning for some reason, which was both good and bad. It announces that it is time to check your smoke detectors - don't forget fresh batteries - and Hallowe'en. In a fall that has been too full of bad and tragic news, take a few minutes to brighten the eyes of a youngster with a witch, goblin or jack-o-lantern. Have a safe evening of trick or treating!