Issue 2003-12: March 25, 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
Industrial Alliance Launches its First Ontario TV Ad Campaign.
For the first time in its history, Industrial Alliance Insurance and Financial Services is embarking on a TV ad offensive on the Ontario market. Industrial Alliance intends to further promote its line of products and services in Ontario using an ad campaign entitled "In Line with Your Life". The commercial, which complements the Company's ambitious development plan for the Ontario market, is an English adaptation of an animated ad campaign that was well received in Quebec last fall. More at http://www.insurance-canada.ca/market/canada/IndAllON200303.php
Canada's Top P&C Company Web Sites to be Ranked in Upcoming Study: Uber Analyze.
Toronto Über Analyze is about to unveil a study that ranks the top 50 Canadian P&C Insurance web sites. The ranking, part of a comprehensive study of the Canadian insurance industry's online presence, is the first of its kind in Canada. More at http://www.insurance-canada.ca/market/announce/UberAnalyze200303.php and seminar below.
Progressive Survey Finds People are More Concerned with Reusing Wrapping Paper to Save Money Than Shopping Around for Big Ticket Items.
Most of us have probably done the usual things to save money – clip coupons, reuse wrapping paper and bows. Some of us have even gone to extremes like pawning wedding or engagement rings. So while it's not surprising that a recent survey by Progressive revealed that people are willing to spend time to save money, it is surprising that they're spending the time to save mere pennies when they could be shopping around to save big money on auto insurance. More at http://www.insurance-canada.ca/market/other/ProgressiveShop200303.php
Business of Insurance
Royal & SunAlliance Announces Major Travel Insurance Deal.
Royal & Sun Alliance Insurance Company of Canada (Royal & SunAlliance) today announced an agreement that will make it one of the largest travel insurance underwriters in Canada. More at http://www.insurance-canada.ca/business/canada/RSATravel200303.php
Sun Life Financial increases ownership stake in CI Fund Management.
Sun Life Financial Services of Canada Inc. has increased its ownership stake in CI Fund Management Inc. As a result of this transaction between Sun Life Financial and private common shareholders of CI, Sun Life Financial will own 34 per cent of the outstanding common shares of CI. More at http://www.insurance-canada.ca/business/canada/SunLifeCI200303.php
Reference and Statistics
Life Insurance Sales Up Across the Board in 2002: LIMRA International.
Individual life insurance sales increased across the board in 2002, with gains in annualized premium (3 percent), face amount (12 percent), and number of policies (1 percent), according to LIMRA International's quarterly survey. More at http://www.insurance-canada.ca/refstat/canada/LIMRA200303.php
Canadian Economic Outlook, March 2003: SwissRe.
US weakness has negatively affected the outlook for the overall economy but the domestic economy is still in good shape. The recent indications imply moderate growth in the first half of this year. More at http://www.insurance-canada.ca/refstat/canada/SwissReCdnOL200303.php
Distribution
CIBC offers Critical Illness Insurance quotes online.
Canadian consumers can now comparison-shop for critical illness insurance online, through a new CIBC service that provides multiple quotes from competing insurance providers. In extending its online insurance services, CIBC is the first Canadian bank to offer its customers direct access to an independent online insurance shopping tool at www.cibc.com More at http://www.insurance-canada.ca/distribution/canada/CIBCCI200303.php
CSIO Insurance Portal Status Update
Week ending March 21: The number of brokers connected remains at 28. For Ontario Auto, AXA is now in pilot/production.
Managing Relationships and Customer Service
DWL Introduces Powerful New Functionality to DWL Customer(TM).
DWL, the leader in Enterprise Business Services software, today announced enhancements to its market-proven customer hub solution, DWL Customer(TM). DWL Customer serves as the enterprise's system of record for all customer-related information and transactions. The latest version includes functionality to support actionable customer management functions including, event notification and rules of visibility, making DWL Customer the most comprehensive enterprise customer hub for the financial services industry. More at http://www.insurance-canada.ca/ebusiness/announce/DWLCust200303.php
Insurance in our Community
Farm Safety Matters: The Co-operators.
When you think of dangerous jobs, you might not find yourself in green pastures, yet farming is one of the most dangerous occupations in Canada. Sadly, children under the age of 15 suffer a quarter of all farming accidents in Alberta. But thanks to safety initiatives like Rural Safety Rules, a safety camp for children supported by United Farmers of Alberta and The Co-operators, those numbers are declining. More at http://www.insurance-canada.ca/humanres/community/CoopFarm200303.php
Exceptional caregivers sought for 2003 Allianz Canada Caregiver Awards.
Allianz Canada is inviting nominations for the Caregiver Awards, an annual program that began in 1998 to honour the dedication and kindness provided by non-professional caregivers to family members and loved ones with an illness or disability.
Jobs, Careers and Resources
George Brown College Targets Financial Services for IT Students.
George Brown College has developed an IT Diploma program specifically targeted to the financial services and health care industries. An exciting new development in this program is the 'Internationally Trained Professionals' (ITP) Practicum/Co-op stream. More at http://www.insurance-canada.ca/humanres/announce/IIC200301.php
Technology and e-business.
DALBAR WebMonitor Publishes Top Web Sites in Financial Services.
Defining excellence in Mutual Fund Consumer Sites, Fidelity attained the coveted number one spot for the 7th time, while INVESCO, STRONG, AIM, and American Century led the charge to round out the top Five "Excellent" sites. Meanwhile, AIM, OppenheimerFunds, Putnam, Franklin Templeton, and INVESCO held top honors as "Excellent" sites for Mutual Fund Financial Professionals. More at http://www.insurance-canada.ca/ebusiness/other/DalbarFS200303.php
from Doug:
Our April 2nd seminar "Technology Differentiated Claims Handling" is finalized now with the addition of Christine Haeberlin, Vice President of The Innovation Group speaking on "Managing Effective Claims Handling - Technology Supporting Best Practices". Our sponsors are AutoMallNetwork and Canadian Insurance Magazine. Seats are available; review the announcement, topics and speakers at http://www.insurance-canada.ca/seminars/seminar20030402.php and register today.