Issue 2003-22:   June 3, 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.

Product and Policy Management

Policy Works® /Broker Edition 5.3 is here! - Tec4 Systems Inc.

Tec4 Systems Inc., a pioneer and industry leader in commercial management systems today announced the launch of the next evolution of its flagship software package, Policy Works® /Broker Edition version 5.3. More at http://www.insurance-canada.ca/poladmin/announce/Tec4200305.php

Camilion Solutions Selected by MFXchange Holdings, Inc. for Enterprise Product Management (EPM).

Camilion Solutions, Inc., the leading supplier of Enterprise Product Management (EPM) solutions to the financial services industry, today announced that MFXchange Holdings, Inc. (MFX), a subsidiary of Fairfax Financial Holdings Limited, has selected the company’s Insurance Innovator Suite to form the basis for an enhanced product lifecycle management system, to quicken and streamline the introduction of new specialty products into the insurance market. More at http://www.insurance-canada.ca/poladmin/announce/CamilionMFX200305.php

Claims

Conquering the Claims Dilemma: by Viraf Baliwalla, AutoMallNetwork.

AutoMallNetwork is a car broker, a matchmaker with established car dealer relationships that allows them to negotiate aggressive prices on new and used vehicles. Their Car Smart Program uses a Total Solution approach to claims settlement – valuation, adjuster support and policyholder assistance on their next vehicle, regardless of make. Article at http://www.insurance-canada.ca/claims/canada/AutoMall200305.php

Accident Support Services Ltd. Receives Approval to Open Two Collision Reporting Centres with Hamilton Police Service.

Accident Support Services Ltd., Facilitators of Collision Reporting to the Insurance Industry, is pleased to announce that we will open Two Collision Reporting Centres with the Hamilton Police Service. More at http://www.insurance-canada.ca/claims/announce/AccSS200305.php

Distribution

Eastbridge study finds that alternate channels are increasingly important to today's worksite carriers.

Pursuing alternate channels for distribution (e.g.: banks, Internet intermediaries, affinity groups, credit unions, employee leasing organizations, and P& C institutions) seems to be a common strategy today among worksite carriers, according to a recent study by Eastbridge Consulting Group, Inc. And predictions are that these channels will play an even greater role in the future. More at http://www.insurance-canada.ca/distribution/other/EastbridgeAC200305.php

CSIO Insurance Portal Status Update

Week ending May 29: The number of brokers connected remains at 28.

For both Auto and Property in Ontario, Pilot has begun User Acceptance Testing.

For EDI up and download with the broker management systems, testing shows that some outstanding problems have been resolved.

David Patrick appointed interim CEO C.S.I.O.

It is with great pleasure that the board of directors of C.S.I.O. announces the appointment of David Patrick as our interim CEO. This appointment is effective June 2, 2003. More at http://www.insurance-canada.ca/distribution/canada/CSIODPatrick200305.php

Consumer Information

IBC commissions students to promote unique Ontario road safety program.

Taking an extra minute to properly adjust the headrest in your vehicle can help to prevent injury. That's the message Insurance Bureau of Canada (IBC) will deliver with, Rest Up! Save Your Neck, a unique community outreach initiative being rolled out by university students across Ontario over the next three months. More at http://www.insurance-canada.ca/consinfoauto/IBCHR200305.php

Insurance losses from April storm reach $14.3 million - IBC.

The rain storms that swept across Atlantic Canada on April 1st caused $14.3 million in insured damage to cars, homes and other properties. "It was a devastating week," said Paul Kovacs, Senior Vice-President and Chief Economist, IBC. "This single event resulted in the most insured damage in Atlantic Canada history." In Nova Scotia, where more than 100 millimetres of rain fell, insurance companies reported damages totaling $11.1 million. The bulk of the claims are for personal property damage as a result of water backing up into basements. Losses in New Brunswick, Newfoundland and Prince Edward Island totaled $3.2 million. More at http://www.insurance-canada.ca/consinfohome/NSStorm200305.php

Managing Relationships and Customer Service

Chordiant and DWL Join Forces to Deliver Highest Service Levels of Customer Management.

Chordiant Software, Inc. , the provider of the Chordiant Real Time Customer System for global business-to-consumer companies, and DWL, the leader in enterprise business services software, today announced a strategic alliance aimed at providing leading financial service providers with a complete solution for business process and enterprise customer management. When used together, the Chordiant and DWL products allow retail banks, card issuers and insurers to improve customer service and employee productivity by creating a unified single view of the customer across the enterprise. More at http://www.insurance-canada.ca/ebusiness/announce/DWLChordiant200305.php

Multi-Channel Contact Centers in Insurance: The Email Imperative: by Celent.

Celent projects that by 2007, 16% of all contacts to insurance contact centers will be via email. Celent urges insurers to embrace multi-channel contact management systems and to apply "call center" discipline and practices to email. As insurers shift their strategic focus from the product to the customer, the contact center has assumed a new level of importance. For most carriers, the contact center is their primary public face to both agents and customers. More at http://www.insurance-canada.ca/ebusiness/other/CelentCC200305.php

Marketing Insurance and the Market Place

Conning Research: Consumer-Directed Health Plans May Cause Major Shift In Healthcare Insurance Market.

If widely adopted, consumer-directed health plans (CDHPs) will cause a major shift in the healthcare insurance industry similar to the impact felt by the emergence of HMOs, according to a new study by Conning Research & Consulting, Inc. According to the study, "Consumer-Directed Health Plans -- Hoped for Results and Unintended Consequences," supporters argue they have the answer to the unrelenting increase in the cost of health insurance premiums. Mass adoption of this concept will introduce a new product cycle to the health insurance industry that moves the cost of coverage from the employer to the employee. However, the full consequences of this shift are difficult to predict, according to Conning. More at http://www.insurance-canada.ca/market/other/ConningCDHP200305.php

from Doug:

Insurance-Canada.ca web site traffic in May set yet another record for us with just under 200,000 pageviews. Growth in our sections targeted at Consumers was particularly strong.
The Toronto Ride For Heart on Sunday set new records too - for participants (over 14,000) and money raised ($1.5 million). The temperature was brisk, and a breeze always seemed to blow into our faces. Accidents do happen in the blink of an eye - yours truly did a tumble in a moment of inattention - my aging (I hadn't yet thought creaky) bones are yet struggling to recover.