Issue 2003-10: March 11, 2003
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.
Marketing Insurance
Generation 5 Releases MOSAIC 2003 Segmentation System.
Generation 5 today announced the availability of the latest version of its marquee segmentation product, MOSAIC. The MOSAIC 2003 Segmentation System is built on current year demographic, expenditure, behavioral and survey data, and helps businesses maximize the results of their marketing campaigns. More at http://www.insurance-canada.ca/market/announce/Gen5Mosaic200303.php
E-Business in Canada: Government Support is Not Enough: eMarketer.
Steve Butler examines e-business development in Canada and determines that businesses are not as proactive as they could be when it comes to encouraging their trading partners to adopt e-business solutions. In the World Economic Forum's recently published Global Information Technology Report 2002-2003, Canada ranked sixth overall according to the study's Network Readiness Index. However, despite the Canadian government's best efforts for e-business development, Canada received its lowest ranking in the study's Business Usage Index, coming in 14th overall behind Norway and South Korea. More at http://www.insurance-canada.ca/market/canada/eMarkertGovt200303.php
Policy Management and Underwriting
Jumbo Jet Underwriting Takes Off: Canada Life.
The Canada Life Assurance Company expanded its industry-leading Jet Underwriting service today to create the Jumbo Jet Underwriting process for individual life insurance applications with face amounts up to $1 million to age 45, and $500,000 to age 55. More at http://www.insurance-canada.ca/poladmin/canada/CanadaLJUW200303.php
Distribution
Applied Systems Canada, Inc. Celebrates 15 Years.
Applied Systems Canada, Inc., a leading automation solutions provider for the property and casualty insurance industry, announces their "Technology Showcase and 15th Anniversary Celebration" schedule dates across Canada for 2003. The Seminar and Anniversary Celebrations will offer customers and prospects a glimpse of where Applied is and where they are going, New Directions, Industry Partner Presentations and Customer Recognition. More at http://www.insurance-canada.ca/distribution/announce/Applied200303.php
CSIO Insurance Portal Status Update
Week ending March 7: Two more Brokers were connected to the Portal this week, bringing the total to 28.
Business of Insurance
Industrial Alliance Pursues its Development in the Mutual Funds Sector with the Acquisition of Global Allocation.
Industrial-Alliance Life Insurance Company and Global Allocation Financial Group Inc., a mutual fund dealer, announced an agreement today in which Industrial Alliance, through its mutual fund dealer subsidiary, Investia Financial Services Inc., will acquire Global Allocation. This acquisition is subject to approval by regulatory authorities. More at http://www.insurance-canada.ca/business/canada/IndAlliance200303.php
Sun Life Financial closes sale of U.K. group business to Unum Limited.
Sun Life Financial Services of Canada Inc. announced today that it has completed the sale of its U.K. group insurance business to Unum Limited, a U.K. subsidiary of UnumProvident Corporation. Sun Life Financial announced on January 13, 2003, that it had entered into an agreement with Unum Limited for the sale of its U.K. group insurance business. More at http://www.insurance-canada.ca/business/canada/SunLUNUM200303.php
Skills and Careers
The CIP Designation takes to the TTC!: IIC.
On Thursday, March 6, 2003, The CIP Society will launch a CIP awareness campaign in forty-four stations of The Toronto Transit Commission. More at http://www.insurance-canada.ca/humanres/canada/IICCIP200303.php
Consumer Information
Canadian Snowbird Association Celebrates - Proposed Changes to U.S. B-2 Visitors' Visa Shelved.
The Canadian Snowbird Association (CSA) is celebrating the Bush administration's decision to withdraw a plan to possibly restrict visitors to the United States to just 30 days, down from the current six months. More at http://www.insurance-canada.ca/consinfotravel/SnowBird200303.php
Claims
Considerations from Automobile Accidents in New York: Burgio, Kita & Curvin.
No Claim for Non-Economic Loss in Automobile Accident Cases Absent a "Serious Injury" in New York. Psychiatric Injuries and "Somatization Complex" also require in New York State Objective Evidence of Physical Injury More at http://www.insurance-canada.ca/claims/other/BurgioNY200303.php
Technology and e-business
IBM and National Bank Financial sign IT services deal.
IBM Canada and National Bank Financial, a wholly-owned subsidiary of National Bank of Canada, have signed a $200-million, eight year agreement designed to transform the bank's brokerage services through IBM's technology and financial services expertise for greater productivity and increased business value. This deal builds on the existing contract between BNC and IBM. More at http://www.insurance-canada.ca/ebusiness/announce/IBMNatBank200303.php
Managing Relationships and Customer Service
Full-Service Brokerage Leaders Tap Internet To Drive Business Dealings: Gomez.
Despite the prolonged retail trading recession, leading full-service brokers are harnessing the Internet channel to stimulate client/advisor interaction in ways that build relationships critical to continued growth, according to the Q1 2003 Full-Service Brokerage Scorecard released today by Gómez, Inc., the leading provider of Internet Channel Effectiveness solutions. More at http://www.insurance-canada.ca/ebusiness/other/GomezFSB200303.php
from Doug:
March school break is upon us again. Our sixteen year-old is in Ontario Grade 11. With university applications to be submitted by November this year, campus and school research will be one activity over these two weeks. This afternoon (Monday, I am writing this early) we leave for Kingston for a brief visit at Queen's, then on to Ottawa to attend the Carleton U. School of Journalism activities tomorrow. So that so what we are up to.....I hope you have a good one.