Issue 2003-33: August 19, 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.
Distribution
Applied Systems Canada, Inc. and CPU Management Software Inc. Announce an Integration Partnership.
Applied Systems Canada, Inc., a leading provider of insurance automation, announced today a partnership with CPU Management Software Inc. Through the new strategic relationship, Applied Systems Canada will enhance offerings to Users of The Agency Manager® (TAM). CPU Tracker Software®, the leading life insurance client database management system, designed by CPU Management Software Inc. helps enhance life, health and financial policy management within TAM.
CSIO Insurance Portal Status Update
Week ending August 15: Nothing new for those things we report this week, although Marshall Lee indicates that there is a great deal of activity - the power blackout does not help.
Managing Relationships and Customer Service
DWL Makes List of Canada's Fastest Growing Technology Companies For Second Year.
DWL, the leader in Enterprise Business Services software, today announced it has been named to the 2003 Deloitte & Touche Canadian Technology Fast 50 ranking for a second year in a row. The ranking follows a recent third place ranking in Canadian business magazine, Profit, which publishes an annual ranking of the fastest growing companies in Canada.
Marketing Insurance and the Market Place
Most Companies Have Cyber-Risk Gaps in Their Insurance Coverage, States the I.I.I. -- Traditional Insurance Policies Not Adequate For Cyber Exposures.
As companies become more dependent on their computer networks for vital data, business continuity and communications, their vulnerability to cyber catastrophes increases. "Unfortunately, most companies are operating in a 21st century threat environment with 20th century insurance coverage," states John Spagnuolo, cyber expert for the Insurance Information Institute (I.I.I.). "The dynamics of risk management have changed with technology."
New Insurance Consumer Information
Premier announces Auto Insurance Strategy for Prince Edward Island.
Protecting the interests of Island auto insurance consumers was the central theme as Premier Pat Binns today announced a new automobile insurance strategy for the province. The strategy is designed as a comprehensive measure to reduce automobile insurance rates for consumers on Prince Edward Island.
PEI auto insurance strategy must limit regulation to control costs: IBC.
While PEI's recently announced measures to address rising auto insurance claims costs are a positive step forward, the insurance industry cautions that a proposal to increase regulation of the industry will tend to drive up the cost of insurance for consumers.
Fort St. John campaign raises awareness of rear end collisions: ICBC.
As part of the Fort St. John Safer Cities Initiative's Brake Light Check Month in June, ICBC and Glass Express Outlets offered free visual inspections and brake light bulb replacements in an effort to promote the importance of functioning brake lights in reducing rear end collisions.
Technology and eBusiness
Web Services in Insurance: Overview and Case Studies: Report Published by Celent.
Web services burst onto the scene in the past two years as "the next big thing." Although the dynamic, any-to-any connections promised by the brave new world of Web services has yet to make an impact on the insurance industry, insurers are already deriving real business value from the use of Web services as an integration methodology used within the enterprise and between partners.
Ranking the Vendors of Portfolio Management Systems 2003: Celent.
In a new report entitled Ranking the Vendors of Portfolio Management Systems Celent provides an in-depth analysis of each vendor; the solutions are evaluated and graded based on a variety of factors, including the vendor's track record for speedy implementations, scalability, flexibility, cost, as well as a number of other criteria.
Insurance in the Community
Clarica donation to help victims of forest fires and floods in Canada.
Sun Life Financial, on behalf of its employees and the Clarica Financial Centres, has donated $35,000 to the Canadian Red Cross to help communities across Canada affected by forest fires and flooding this summer.
from Doug:
It is great to see the community spirit rise in times of need. The power blackout for us has been little more than an inconvenience - the teen son who wants the air conditioning to run again etc. Compared to those with fires or drought, or those who lost a lot in the blackout due to health problems or loss of perishables, we can be thankful. Thanks to all those many who have reached out to help in times of need.