Issue 2002-43:   October 29, 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

Asset Managers Struggle to Provide Intermediaries with Effective Web Offerings for Separately Managed Accounts, kasina Report Finds.

kasina, an e-business strategy consulting firm for the financial services industry, today announced the release of its newest whitepaper, "Separately Managed Accounts: Servicing Intermediaries Online." The report evaluates 30 separate account sites for advisors, identifies 12 finalists, and names the Top 5 advisor Web sites for separate accounts while offering a general industry analysis that explores best practices and identifies areas that need improvement. More at http://www.insurance-canada.ca/distribution/other/kasina200210.php

CSIO Insurance Portal Status Update

Week ending October 25: A major non-technical issue has been resolved. Three brokers have been registered to the Portal, and two of those brokers have been given access to one or more companies' rates. CGU, Traders and Royal & SunAlliance are in production for Ontario auto. Over the next while, more companies' rates will be loaded and enabled, and more brokers added. The two brokers who can do EDI upload/download with the portal are live with Applied Systems' BMS. At the IBAO Convention, CSIO demonstrated the portal for both auto (live rates) and property (test rates) rating, with very positive comment from visitors.

Claims

Sun Life Financial expands internet claims service for group benefits plan members.

Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies, today announced that it is expanding its group benefits Internet-based claims submission process to include claims for vision care and prescription drugs. At the same time, the company is launching a new online Pay-Direct drug card. More at http://www.insurance-canada.ca/claims/canada/SunGrpClaim200210.php

Managing Relationships

Empire Reduces Cost and Enhances Channel Service with Solution from DWL.

DWL, the leader in Unified Business Services (UBS) software, today announced that The Empire Life Insurance Company has gone live with the first phase of a broad based initiative to achieve proven cost reduction with web-based self servicing capabilities for their group business. Empire has implemented DWL Insurance(TM) for Group, a Unified Business Application that will allow Empire’s more than 1500 Brokers to access requests from Empire’s back end administration systems. Empire has also started the second phase of their project, providing self-service capabilities to their Employer Administrators. More at http://www.insurance-canada.ca/ebusiness/announce/DWLEmpire200210.php

Marketing

Sometimes Opportunity is too Familiar to Recognize - Customer Communications, by Steve Heck, Symcor.

Every once in a while, you get the feeling that the answer is right there, you just can’t put your hands on it. In the world of managing customer relationships, that is just what’s happening. Insurance documents are arguably one of the most under-utilized customer relationship documents in the mail today. While they do carry very personal, important information, they do little to further develop and strengthen the relationship between the policyholder and either the broker or the insurance company. More at http://www.insurance-canada.ca/market/canada/Symcor200210.php

Manulife Bank launches mortgage contest for Manulife One.

Manulife Bank is offering its clients the opportunity to "Win a 'mortgage-free' month while learning how to be mortgage free for life." More at http://www.insurance-canada.ca/market/canada/ManuBank200210.php

Technology and e-Business

Create Faster, Smarter and More Profitable Marketing Campaigns: Presentation by SAS Canada.

How can you consistently beat your profitability goals - and your competitors? On the surface, it's not that complicated. Just understand your customers better and faster than anyone else, and use that knowledge to target them more effectively than anyone else. If only it were that simple. Unfortunately, while information about customers is plentiful, actionable customer intelligence often remains elusive. From the Insurance-Canada.ca "Marketing" seminar Oct 18; presentation at http://www.insurance-canada.ca/ebusiness/canada/SASMktgC200210.php

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Grand Opening of IBM Services Centre for Insurance and complimentary Breakfast Seminar for Insurance executives "Managing Your Application Portfolio" featuring IBM Strategist George Kivel and VP Katie Bambrick.

Toronto Bloor and Yonge, Nov 7, 8:00 am
In Waterloo, Albert and Columbia, Open House at 4:00 pm

For speaker and other details, and registration information see http://www.insurance-canada.ca/ebusiness/announce/IBMSem200210.php

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Life Insurance Companies Indicate the Need to Improve Their Risk and Capital Management Practices: Tillinghast Survey.

According to the just-completed Tillinghast – Towers Perrin (Tillinghast) survey of Chief Financial Officers (CFOs) of North American life insurers, companies are giving higher priority to their risk and capital management practices. These findings are consistent with Tillinghast's observations that external pressures are causing life insurers to increase their emphasis on effective approaches for measuring, reporting and managing earnings volatility and key financial risks. More at http://www.insurance-canada.ca/ebusiness/canada/TillinghastRCMP200210.php

Sun Life Financial Services announced that Clarica Life Insurance Company has signed a definitive agreement for the sale of Clarica U.S., Inc. (Clarica U.S.) to Midland National Life Insurance Company for US$286 million. The sale, which does not include Clarica's U.S. reinsurance operations, is subject to certain conditions, and is expected to close in the first quarter of 2003. More at http://www.insurance-canada.ca/ebusiness/canada/ClaricaUSA200210.php

Manulife-Sinochem licenced in China; Manulife Indonesia Asian Insurer of the Year.

Manulife-Sinochem Life Insurance Co. Ltd. was granted approval by the China Insurance Regulatory Commission (CIRC) to officially open its branch office in Guangzhou, China.

Manulife Indonesia has been awarded the "Life Insurance Company of the Year" award for 2002 by Asian Insurance Review (AIR), the premiere insurance publication in Asia, together with The Review - Worldwide Reinsurance. More at http://www.insurance-canada.ca/ebusiness/other/ManulifeIndCh200210.php

Policy Management

Sherwood Announces Substantial Contract Wins and Reveals New Global Headquarters.

Sherwood International today announced that is has signed significant contract wins in the US for insurance software licenses and a major services contract with the UK government, driving incremental services revenues. Sherwood also announced that it will integrate its UK offices with a move to a new global headquarters in Chertsey, U.K. More at http://www.insurance-canada.ca/poladmin/other/SherwoodHQ200210.php

ConsumerInfo

Time change linked to home safety: IBC.

Most Canadians will be able to enjoy an extra hour of sleep this weekend, thanks to the annual time change. The clocks will be turned back one hour at 2:00 a.m. on Sunday, October 27, 2002, and the Insurance Bureau of Canada (IBC) is urging people to put safety first by checking the safety devices in their homes. More at http://www.insurance-canada.ca/consinfohome/IBCtime200210.php

Teen safe driving program lauds reporters for using the word “crash” as opposed to “accident”. The ratio of news articles searching the Internet with key words “car crash” and then “car accident” is revealing. Time was, most articles were found using the word “accident”. Now many more articles can be found using the word “crash” and the difference is apparently important in the psychology of teen safe driving. More at http://www.insurance-canada.ca/consinfoauto/IPromCrash200210.php

Tiny Nunavut Shows the Way on Universal Health Care.

Only the Canadian territories are living up to the requirement of the Canada Health Act to provide portable, universal health care for the more than 47 million trips Canadians take abroad each year, according to the Canadian Travellers' Report Card released today by the Canadian Snowbird Association. More at http://www.insurance-canada.ca/consinfohealth/CSA200210.php

from Doug:

Night-fall comes earlier now that the time has changed; and certainly fall, if not winter, seems to have arrived with a vengeance. So much for getting the extra fall chores done, but perhaps we will have a break yet.

Enjoy the spooks and goblins, but be safe.