Issue 2003-47:   November 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.

Managing Relationships and Customer Service

Allstate Canadian customers first to manage insurance online.

Allstate Canada has launched myallstate.ca, the first tool of its kind in Canada, to allow insurance consumers to manage their insurance information and coverage online.

CSIO Insurance Portal Status Update

Week ending November 21: Gore has loaded their Ontario Auto rates, done systems testing and is now in User Acceptance Testing, and Property rates are being loaded.
Ontario property rates are being loaded for Formosa Mutual.
CSIO and IBM continue their transition planning for the technology infrastructure.

Training and designation

CLU Institute Announces CLU Challenge Exam - A Professional Choice for Non-Designated Advisors.

The CLU Institute today announced a new program that would allow certain experienced financial advisors to earn the coveted Chartered Life Underwriter (CLU) designation if they qualify and then pass a challenge exam. Ordinarily, an advisor earns the CLU designation after the completion of three specialized courses, taken following the completion of the Certified Financial Planner (CFP) course of study.

Marketing

Markel Launches ProfitDriver to Boost the Bottom Line.

Markel Insurance Company of Canada announces the launch of ProfitDriver", financial management software to help Canadian truckers improve their profitability and bottom line. This new software product and load pricing tool is now available free of charge to all Markel customers.

Business of Insurance and Products

RBC Insurance to acquire UnumProvident's Canadian operations.

RBC Insurance, the insurance operation of Royal Bank of Canada, today announced it has agreed to purchase the Canadian operation of Provident Life and Accident Insurance Company, a wholly owned subsidiary of UnumProvident Corporation.

Industrial Alliance closes its acquisition of Co-operators Mutual Funds and introduces a new subsidiary: Industrial Alliance Mutual Funds.

Industrial Alliance Insurance and Financial Services Inc. (Industrial Alliance) is pleased to announce the closing of its acquisition of Co-operators Mutual Funds Limited (CMFL). Industrial Alliance recently obtained the necessary authorizations from various regulatory authorities allowing it to conclude this acquisition, which was initially announced last August 15. The acquisition of CMFL marks an important step in the Company's growth strategy as it will allow Industrial Alliance to manufacture and manage its own line of mutual funds.

Maritime Life Enhances Product Portfolio.

Delivering on its commitment to continuously provide customers and distributors with unique and innovative products, Maritime Life is pleased to announce a series of exciting enhancements to its critical illness and universal life products, effective immediately.

Conning Research: Individual Disability Insurers Rebound After Decade Of Disaster.

Following a trying decade of losses that caused many insurers to exit this business, the Individual Non-Cancelable Disability Insurance (INCDI) market has shown signs of a sustainable recovery, according to a study by Conning Research & Consulting. However, Conning's latest analysis of the industry shows two different groups of insurers vying for market share with different strategies.

Policy Management: Underwriting

The Return to Underwriting Governance. By Sorin Rogojinaru.

Underwriters are seeing increasing pressure on their daily practice. Old times when you could obtain verbal quotations or when deals were done outside the office are gone. Nowadays everything needs to be done "by the book". As the market becomes tougher, the pressure imposed by owners and reinsurers increases; the journey is now watched over by sets of strict rules and regular audits.

Claims

InspekTech Announces New Appointments in Marketing and Development.

InspekTech Online Inspection Services Inc., a leading online risk assessment company, today announced the appointment of two new staff to the InspekTech Team. Erik Kalacis joins the company as Vice President Sales and Marketing. Henry Sienema joins InspekTech as Product Development Manager.

Consumer Information: Auto Insurance

Ontario Car Insurance -- what to expect after the rate freeze.

With car insurance rates going up an average of 19 per cent over the last year, consumers are looking for change. The newly elected provincial government has promised insurance rate reform and has begun by freezing insurance rates. But what does this mean for consumers?

PEI Legislation to Implement Auto Insurance Strategy to be Introduced in Fall Sitting of the Legislature.

Attorney General Jamie Ballem today announced that legislation to implement the Auto Insurance Strategy will be a first priority when the Legislature opens in November. "The Government of Prince Edward Island is committed to implementing the auto insurance strategy announced in August," said Attorney General Ballem.

Alberta consumers to benefit from sweeping auto insurance reforms introduced by Alberta government.

Proposed Auto Insurance Reform Framework: the government will move towards a reasonable entry-level premium that would provide incentives for safe drivers while motorists with traffic violations and at-fault accidents would pay more.

from Doug:

The 2004 edition of the General Insurance Register closes at the end of November for new content. This is the last call for you to be in it. Contact me for details.
We did the tourist thing on Sunday while visiting our son, who is working this U of Waterloo work term in St Catharines. It was a very warm sunny day so we walked behind Niagara Falls, watched the IMAX film on Niagara, explored history in the Lundy's Lane Museum and toured the Sir Adam Beck Generating Station. If you poke a bit, there surely are a lot of neat things to see and do in this country of ours.
Snow on the ground this morning - helps push us closer to the Christmas spirit, but wish I had cleaned the eaves before now!