Issue 2002-13:   April 2, 2002

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.

Claims

Taking the Offensive: The latest round in the war on fraud, by Barbara Aarsteinsen, Canadian Insurance Magazine. The bad news is that everybody's fears about fraud have been confirmed. Even though the number of auto collisions in Canada has been declining, personal injury claims are on the rise, with as many as 26 per cent containing some elements of fraud. Article at www.insurance-canada.ca/claims/canada/CIBA200203.php

CCC Internet Solutions Inc. "CCC" reports that it's newest product, 43r.ca, has exceeded management's expectations regarding functionality, profitability and potential savings to the insurer. More at www.insurance-canada.ca/claims/announce/43rca200203.php

Orion Software Systems Ltd. announces the release of AISI billing software known as OASIS. OASIS is a windows based billing system, for healthcare providers, in Ontario. Download a complete trial version of OASIS from the Orion Web site. More at www.insurance-canada.ca/claims/announce/Orion200203.php

Lost and Found: New tracking devices are helping in the recovery of stolen goods, By Anna Sharratt ci magazine. Last June, a computer was stolen from a BC Rail employee's vehicle in a Burnaby hotel parking lot. But instead of resulting in an insurance claim, the pilfered hardware was recovered thanks to a special tracking system. Article at www.insurance-canada.ca/claims/canada/CIAS200203.php

CSIO Insurance Portal

Testing in the integrated environment continued well. Lombard now has full end-to-end connectivity with the Portal Staging Environment for testing. The two participating companies have now implemented the two main alternative company connectivity options - Economical through CSIOnet and Lombard with a direct line. As development of the Broker EDI Upload and Download comes closer to an end, Applied Systems has an agreed April date to start connectivity testing.

Distribution

A Major Paradigm Shift is Emerging in Financial Products Distribution: kasina and FRC. The skill sets, expertise, and professional polish of internal wholesalers will need to grow as fund groups begin to rely heavily on more effective e-wholesaling strategies. Where once the internal wholesaler's activity was defined by taking on what the external wholesalers could not do, we are now approaching a reversal. Going forward, external wholesalers will accomplish that which can not be done by an internal wholesaler. More at www.insurance-canada.ca/distribution/other/kasinaWh200203.php

Statistics and Reference

The Canadian Council of Insurance Regulators (CCIR) has launched its new Web site which will allow easier access to information for stakeholders and CCIR members. Winston Morris, Chair of the CCIR noted "Communication among stakeholders and members of CCIR is the key to our success. This new Web site will allow us to improve the flow of information." More at www.insurance-canada.ca/refstat/canada/CCIRweb200203.php

Marketing

Sun Life Financial adds innovative features to Personal Financial Services section of Canadian Web site. These new innovations to the Web site are targeted at the individual investor and include a virtual Financial Planning Centre, which enables visitors to conduct their own online research, gain access to articles on a variety of financial planning topics and financial calculators to help them develop and achieve their financial goals. More at www.insurance-canada.ca/market/canada/SunL200203.php

In an effort to manage advertising dollars, many businesses are using e-mail marketing campaigns instead of traditional direct mailings, according to GartnerG2, a research service from Gartner, Inc. GartnerG2 analysts said e-mail marketing has become a more cost-effective way to acquire and retain customers. More at www.insurance-canada.ca/market/other/GartnerG2200203.php

Skills and Careers

Clarica announced a new grant program designed to advance leadership skills among students at publicly funded Canadian schools. With the goal of highlighting the importance of leaders for Canada's future, the program will fund projects that develop leadership, as defined by students from primary to post-secondary levels. More at www.insurance-canada.ca/humanres/canada/Clarica200203.php

Policy Management

Sherwood International contracted with Alamance Services Incorporated, the IT Services arm of IFG Companies, based in Burlington, North Carolina, USA. The contract, worth almost $400,000, will see the implementation of Sherwood's leading software product ProCede across all of IFG's insurance operations. More at www.insurance-canada.ca/poladmin/announce/SIProcede200203.php

from Doug:

I hope you enjoyed Easter. Did you suffer from anything on April 1 - that all seems passé now in our household? Don't forget the time change, if it applies in your area, this coming weekend - "spring ahead; fall back" helps me change the clock the right way.

Don't forget our seminar on April 11 for current information and discussions about leveraging technology to improve the link between Property Casualty brokers and their markets. You should receive the final announcement about this seminar this Thursday. More at www.insurance-canada.ca/seminars/icsem.php.