Insurance-Canada.ca Newsletter: Issue 2002-27; July 9, 2002

Issue 2002-27: July 9, 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.

Managing Relationships

Markel Creates New Helpline for Small Truckers!
Markel Insurance Company of Canada launches "ASK MARKEL", the first in a series of products and services designed especially to support the needs of its owner/operators and small fleet trucking customers. This exclusive, new toll-free telephone assistance line was developed to provide smaller trucking companies immediate access to critical and timely information on issues surrounding compliance and regulations, hiring practices, border-crossings, as well as safety and training programs in order to help them run their businesses more efficiently. More at www.insurance-canada.ca/ebusiness/canada/MarkelAM200207.php

Good advisor Web sites keep getting better; mediocre ones are being left behind: Dalbar.
Mutual fund companies that regularly improve their Web sites are delivering an increasingly better online experience for financial professionals. Dalbar ranked 12 mutual fund company Web sites for financial professionals in June 2002. More at www.insurance-canada.ca/ebusiness/canada/DalbarMF200207.php

Claims

Accident Support Services International Ltd. welcomes Cooperators
Insurance Company, CAA Insurance (Ontario), and Norfolk Mutual Insurance Company. Member companies realize immediate financial and customer service benefits because they have the one stop opportunity to deal with their customer directly in the Collision Reporting Centre immediately after their customer has reported to the police. This is generally within hours of the accident occurring thereby allowing member insurers to manage the claim from its earliest stage increasing service and retention while reducing or controlling claims costs. More at www.insurance-canada.ca/claims/announce/ASSI200207.php

Distribution

Life Company Central (LCC) Update June 2002.
Life Company Central (LCC) was formed to develop and implement a common information exchange system for the life insurance industry. The system is intended to provide access through a secure multi-company portal enabling suppliers and distributors to process and administer business and exchange data. The system will evolve over time to provide ever-increasing functionality along the three main themes of : Compensation, New Business Processing, and In-Force Management. The participants in the Life Company Central Committee are Canada Life, Manulife Financial, RBC Insurance, Standard Life, Sun Life Financial, and Transamerica Life Canada. More at www.insurance-canada.ca/distribution/canada/LCC200207.php

Vision 2005: Insurance Brokers Association of Canada Maps Out its Future with a New Strategic Plan.
With a new strategic plan just completed, the Insurance Brokers Association of Canada has mapped out a clear direction towards its Vision 2005: A state in which the property and casualty insurance broker distribution system, influenced by IBAC’s proactive efforts, continues to thrive within the legislative and regulatory environment, and Canadians recognize IBAC member association brokers as the most trusted and competent insurance intermediaries. Article at www.insurance-canada.ca/distribution/canada/IBACSV200207.php

CSIO Insurance Portal Status Update

Week ending July 5: Testing continues. Communications and connectivity problems with Economical were resolved. Lombard is now testing the more unusual and exceptional policy situations. Applied and Keal are testing. CIM-Data will start the testing cycle of their BMS in mid-July. Dominion of Canada deployed a person to visit several broker's offices in the Ottawa area to test access to the portal to review different network connectivity, speeds etc.

ISI continues to load and test rates (see status below) with the initial focus being Ontario. Portal connectivity testing is underway and later in July the ISI environment will move to the CSIO Portal production facilities.

CSIO has arranged a focus group with some broker CSR's who are using Applied. The intent is to work yet again through the workflows, processes and procedures to identify any issues which need to be resolved.

CSIO re-assumes control over the CSIOnet EDI network.
CSIO has re-assumed full control over CSIOnet from the Insurance Bureau of Canada (IBC). For the past three years, the Insurance Information Division (formerly IICC) of IBC has managed CSIOnet on behalf of the industry. The boards for both CSIO and IBC feel that this change will be beneficial to CSIOnet’s subscribers, who are also CSIO members. It will also allow IBC to focus on its core services to the entire industry. More at www.insurance-canada.ca/distribution/canada/CSIOnet200207.php

Marketing Insurance

Manulife Financial poll finds Canadians' savings and investments at risk in the event of a critical illness.
Most Canadians expect they will need to dig into their savings and investments to finance expenses incurred from a critical illness, according to a new survey funded by Manulife Financial. While most Canadians are aware that expenses like travel to medical appointments, child care and home care might not be covered by their provincial health care plan or employee benefit plan, only 16 per cent of this group are very confident that they have the financial resources on hand to cover the costs of recovery. More at www.insurance-canada.ca/market/canada/ManulifeCI200207.php

e-Business and Technology

Standard Register Completes Acquisition of InSystems.
Standard Register, a leading information solutions provider, today announced that it has completed its $89-million acquisition of InSystems Technologies, Inc., a leading provider of e-business solutions for financial services organizations. This acquisition broadens Standard Register's information solutions offering and technology platform through the addition of leading extended relationship management and document automation solutions. More at www.insurance-canada.ca/ebusiness/announce/InSystemsSR200207.php

Accenture Study Reveals Battle for the "Networked Home" Must Take New Direction. "As the battle for the living room heats up, more than half of tech-savvy consumers in the U.S. say they are currently indifferent to the enhanced experience that a networked home may offer, according to an Accenture study. More at www.insurance-canada.ca/ebusiness/other/AccentureH200207.php

from Doug:

A small rain this morning brought hope of more, if little else, after a long hot dry spell. But I guess we are much better off than many places. At least we can't thus far complain about a cool or wet summer! We wish you each the best of summer plans - do, and drive, carefully.