Issue 2002-31:   August 6, 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.

Distribution

Survey Reveals What Agents Look For in the Companies They Represent: Progressive Agents Value Competitive Products, Financial Stability, And 24/7 Service.

A recent survey by the Progressive group of insurance companies revealed that independent insurance agents are focused on placing their customers with strong, stable, service-oriented companies. Over 1500 agents across the country responded to the online survey - which asked questions about what agents look for in the companies they represent - at Progressive's agent-dedicated Web site, ForAgentsOnly.com (FAO). More at http://www.insurance-canada.ca/distribution/other/ProgAgents.php

CSIO Insurance Portal

Week ending August 2: Activity continues everywhere, but no major items. Two more companies are taking a step closer to delivering their rates directly to the portal from their own systems. The lines have been installed for both CIM-Data who will present the Facility rates, and for L'Union Canadienne. As they progress through the layers of connectivity and other testing, those two will join Economical Group and Lombard with direct service.

Quotes Via CSIO Portal One Step Closer: Economical Insurance Group.

Economical Insurance Group is now one major step closer to providing brokers with quotes via the CSIO Insurance Portal. “Recently, our computer system successfully received, processed and returned both an automobile and property quote over the Portal,” said Cathy McGraw, Project Manager at The Group. More at http://www.insurance-canada.ca/distribution/canada/EIG200208.php

ConsumerInfo

Clarica again offers funding for projects to benefit organ and tissue donation.

Clarica announced that its annual organ donation grant program, now in its second year, is open for proposals. The company's program is aimed at supporting critical care and emergency professionals in offering the best possible end-of-life care, and helping Canada optimize its rate of organ donations. More at http://www.insurance-canada.ca/consinfohealth/Clarica200207.php

A Simple Adjustment Can Reduce Pain and Cost of Neck Injuries: Progressive Insurance.

Each year in the USA there are nearly two million rear-impact vehicle crashes. Industry data show that more than 20 percent of drivers in rear-impact crashes report neck injuries. According to the Insurance Institute for Highway Safety (IIHS), neck injuries cost the auto insurance industry, and ultimately consumers, more than $7 billion a year. And while their research has also shown properly-positioned head restraints can significantly reduce such injuries, a new survey from Progressive has found that only 14 percent of drivers know the optimal positioning of a head restraint. And, 18 percent of drivers think all vehicles come with head restraints already properly positioned. More at http://www.insurance-canada.ca/consinfoauto/headrest.php

Policy Management

SSQ General Insurance Inc. Selects Sherwood International's FrontTier and ProCede Insurance Solutions.

Sherwood International has entered into a multimillion dollar license and implementation agreement with SSQ General Insurance Inc., a Quebec-based Property and Casualty insurance provider. SSQ will use Sherwood's FrontTier processing and workflow management application and ProCede reinsurance solutions to increase business process efficiencies and reduce insurance processing costs. FrontTier and ProCede will replace all legacy systems at SSQ. More at http://www.insurance-canada.ca/poladmin/announce/SherwoodSSQ200207.php

Marketing

Evaluating E-Mail Marketing Effectiveness (Or Not): eMarketer.

Without both the tools and the initiative to measure a direct-response e-mail campaign’s results, all the acquisition, retention and conversion in the world is much like a three-legged horse galloping—moving forward but stumbling at the same time. How effective was the campaign? How much did it cost? How much did you make? More at http://www.insurance-canada.ca/market/other/email200207.php

Insurance 2002 & Beyond: by Jack Burke, Sound Marketing.

The biggest problem was learning how to present the increased renewal premium to the client without forcing them to put their business out to bid. Sales trainers were adapting their presentations to "teach" producers how to sell in a hard market because it was estimated that over half of the producers had never experienced this phenomenon. More at http://www.insurance-canada.ca/market/other/Burke200207.php

Technology & e-business

Canada Life Becomes U.K. Group Insurance Leader.

Canada Life Financial Corporation today announced that the company's U.K. division has reached an agreement with Royal & SunAlliance Insurance Group plc, to purchase their group life and long term disability insurance business. More at http://www.insurance-canada.ca/ebusiness/canada/CanadaLUK200207.php

Joint Ventures, Alliances and Outsourcing Top List of Restructuring Strategies for World's Leading Insurers, According to Accenture Study.

In a departure from traditional corporate restructuring strategies, insurers are choosing ventures, alliances and outsourcing over mergers and acquisitions as their preferred vehicles for corporate restructuring, according to new research from Accenture. More at http://www.insurance-canada.ca/ebusiness/other/AccentureJV200207.php

Skills and Careers

Ted Belton Recalls his Insurance Career and the Birth of the Belton Report: Christine Siemiernik, Canadian InsurancE-NEWS.

Sparked by a piece of sage advice from his Mother, Ted Belton embarked on a career in the insurance industry which encompassed more than a half century. To fill an industry need, IAO began publishing a quarterly report, which grew into the Belton Report. Ted has nurtured this for 14 years, and recently announced that the last issue would be published in March, 2003. More at http://www.insurance-canada.ca/humanres/canada/Belton200208.php

from Doug:

Here in Toronto the heat wave which has been around for a few weeks has broken and today is a beautiful day in low 20's. I prefer that to the snowy break in the weather last week near Calgary. As in many places, rain would be nice.

If you haven't registered for our "Brokers: Driving Technology to Work" seminar next Tues. Aug. 13, you only have a few days left. Details at http://www.insurance-canada.ca/seminars/seminar20020813.php

We wish everyone a good, and safe, week.