Issue 2003-25: June 24, 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.
Managing Relationships and Customer Service
FigmentSoft teams with ACCPAC International for CRM.
FigmentSoft Inc. presents FigmentComplete, a comprehensive CRM strategy that is customized to fit individual company needs. Determined to constantly improve the availability and quality of business intelligence solutions tailored for the mid-size market, the company is launching FigmentComplete, which teams FigmentSoft's industry expertise with the award-winning ACCPAC CRM(TM) software. More at http://www.insurance-canada.ca/ebusiness/announce/FigmentAP200306.php
Services-Based Enterprise Customer Processes Delivered with DWL Customer(TM) Version 4.0
DWL, the leader in Enterprise Business Services software, today announced the release of DWL Customer version 4.0. DWL Customer serves as the enterprise's system of record for all customer-related information and transactions. Today's announcement builds on the success of DWL Customer as a leading services-based Customer Data Integration (CDI) solution, by allowing organizations to better leverage 'organizational' customer data that sits across lines of business, parents and subsidiaries and within multiple channels. More at http://www.insurance-canada.ca/ebusiness/announce/DWLCust200306.php
Targeting Specific Investor Types Pays Off For Canada's Top Online Brokers, Gómez Canada
BMO InvestorLine maintains top overall ranking; E-Trade Canada, Disnat Direct, CIBC Investor's Edge hurdle to better positions
May 26, 2003, Toronto – BMO InvestorLine retained its top ranking overall for the second consecutive Internet Broker Scorecard in Gómez Canada's recently completed analysis of online brokerage firms. More at http://www.insurance-canada.ca/ebusiness/other/GomezBr200306.php
Distribution
Financial Services to Develop the Workplace into a Major Distribution Channel: Tillinghast - Towers Perrin.
According to new research from actuarial and management consultant Tillinghast - Towers Perrin, over the next two years there is going to be a dramatic increase in worksite marketing — the sale of financial services products through the workplace. More at http://www.insurance-canada.ca/distribution/other/Tillinghast200306.php
CSIO Insurance Portal Status Update
Week ending June 20: The number of brokers connected remains at 28.
Western and Aviva's CGU have gone into production for Ontario Property Quotes.
Product Information
Introducing Optimax III and two new segregated funds from Empire Financial Group.
Advisors contracted with The Empire Life Insurance Company (Empire) will be able to offer their clients an enhanced participating, permanent life insurance product, Optimax III, and two new international segregated funds starting June 23, 2003. More at http://www.insurance-canada.ca/business/announce/EmpireFin200306.php
Maritime Life introduces Essential Solutions(TM) - a flexible, new universal life product.
In an effort to provide customers with a simple universal life policy that provides minimum-guaranteed investment returns, Maritime Life is pleased to introduce Essential Solutions(TM). "In today's market, consumers are looking for products that provide stability and security," explains Linda Li, manager, Product Marketing and Support, Retail Marketing Division.
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Human Resources, Skills and Training
31 schools chosen to integrate technology with education under Clarica Scholars Program.
The Clarica Scholars Program, in partnership with Acadia University and the University of Waterloo, has selected 31 schools from across Canada to participate in its 2003 program that is aimed at exploring the use of technology in the classroom. Clarica is a member of the Sun Life Financial group of companies. More at http://www.insurance-canada.ca/humanres/canada/ClaricaSch200306.php
Claims
Environmental: Sick Building Syndrome in Residential Occupancies: Investigative Engineers Association.
We, in the insurance claims business as: companies, adjusters, risk managers, attorneys and investigative engineers, have been aware for some time that "Sick Building Syndrome" has become a serious problem for the industry and building owners. Residential claims of serious magnitude have also been occurring which include a wide spectrum of variables such as: carbon monoxide, cleaning chemicals, mold, fungi, air conditioning/heating systems, lead contamination, water and sewage problems. More at http://www.insurance-canada.ca/claims/canada/I-ENG200306.php
New Insurance Consumer Information
New Brunswick Insurance Act regulation caps minor auto personal injury claims; IBC sees Positive Step.
Automobile insurance awards for pain and suffering as a result of minor personal injuries sustained in an accident on or after July 1, 2003 will be capped at $2,500, Justice Minister Bradley Green announced today. "The cap is part of government's comprehensive plan to reduce auto insurance rates and provide New Brunswick consumers with the insurance they need at a cost they can afford," Green said. More at http://www.insurance-canada.ca/consinfoauto/NBAutoCap200306.php
Analysis of 119.2 million automobile insurance policies confirms provincial premium increases: IBC.
Insurance Bureau of Canada, the official statistical agency responsible for collecting and analyzing automobile insurance information, has just completed a review of its database including data on 119.2 million automobile insurance policies sold throughout Canada in the past 17 years. These data confirm that in every province growth in claims costs outpaced premium growth for several years, particularly injury claims, resulting in the recent growth in premiums. More at http://www.insurance-canada.ca/consinfoauto/IBCPremiums200306.php
A few tips from IBC - You're moving? Have you thought of everything?
You've carefully planned your move, from the choice of mover to how you're going to decorate your new home. But have you thought about your insurance? This question is particularly relevant in that the Insurance Bureau of Canada has recently enhanced the Quebec Personal Property Forms with certain coverages related to moving. More at http://www.insurance-canada.ca/consinfohome/IBCMove200306.php
Sights Set to Reduce Numbers of Injured Young Workers in Nova Scotia.
"Statistics in Nova Scotia on workplace health and safety among youth aged 15 to 24 are alarming and reflect a growing cause for concern. It is time strong commitment and efforts are made to make real improvements." It was in these sobering terms that Mr. David Stuewe, Chief Executive Officer of the Workers' Compensation Board of Nova Scotia, launched a new young worker awareness campaign in the province recently. More at http://www.insurance-canada.ca/consinfobusiness/NSSafety200306.php
from Doug:
Drove through some of the Southern Ont. countryside on the way to a couple of weekend events. After our recent rainy periods, everything was lush green. Farmers are trying to complete a very late spring planting while simultaneously coping with full haying season. No matter the occupation, trials and tribulations face all of us.
It was good to spend time with friends and family, recounting tales of recent and not so recent family history. Do take time to think about, and take pride in, our country's history as Canada (Dominion) Day approaches - our newsletter next week will be published on Wednesday, July 2.