Issue 2003-48: December 2, 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
The 4 Ps of E-marketing: by Stefan Eyram.
If you have studied marketing or have read any basic marketing books you are undoubtedly aware of the four Ps of marketing - Product, Place, Promotion & Price. As marketing paradigms change, the four Ps are also changing. Today we need to look at a new list - the 4 Ps of e-marketing - Permission, Privacy, Profiling and Personalization!
Statistics and Reference
Canadian Economic Outlook, Nov 2003: SwissRe.
The recovery gained some traction in October. The Ivey Purchasing Managers' Index for September came in at a robust 56.5, indicating that the economy is expanding. The blackout hit the economy hard causing August output to fall 0.7% compared to the previous month. As a result, third quarter growth will be below its potential. However, almost this entire decline was likely made up in September, setting the stage for a strong fourth quarter.
North American Life Insurance Applications Decline 3.7% in October: MIB.
October's life insurance application activity in North America declined 3.7% year-over-year according to the MIB Life Index. Application activity in the U.S. and Canada decreased 3.9% and 1.9% respectively compared to October 2002 levels.
Business of Insurance and Products
TitlePLUS(R) title insurance now available in B.C.: LAWPRO.
TitlePLUS - the full-service title insurance product that thousands of consumers are using to insure their interests when they buy a home or on refinance/mortgage-only transactions - is now available in British Columbia.
Impact of Ontario auto reforms requires clarification: G. Cooke, Dominion of Canada.
"Actions taken by the Eves government to provide rate relief to Ontario automobile drivers would not have resulted in a 10% reduction in premiums," stated George L. Cooke, president and chief executive officer of The Dominion of Canada General Insurance Company in response to assertions made by former Minister of Enterprise, Opportunity and Innovation, James Flaherty.
Effective People
Having Meetings that Work: by Paul Godin, Stitt, Feld Handy Group.
Have you ever walked out of a 2 hour meeting with the feeling that youve just wasted two hours of time and accomplished next to nothing, or that something was accomplished but no-one is sure what?
Claims
Boomerang Tracking tracks GMC Sierra to Mirabel chop shop.
On October 27, 2003, a stolen GMC Sierra led the Boomerang tracking team to a chop shop in Mirabel, Quebec, where 17 stolen vehicles were recovered, along with evidence of over 40 other stolen vehicles. Approximately 200 marijuana plants in a hydroponics lab were also found at the scene.
Fireplaces & Chimneys: Pre-Fab, Maintenance & Sweeps: by Professional Investigative Engineers, I-ENG-A.
Pre-fab or zero-clearance fireplaces are factory built units that have layers of metal creating the firebox with air spaces between the layers for insulation purposes. It is connected to a double or triple walled, metal chimney.
Managing Relationships and Customer Service
Dominion of Canada premium refunds in hands of Nova Scotia policy-holders.
"As a result of our strong and sustained effort to process refund cheques to our automobile insurance policy-holders in Nova Scotia," said George L. Cooke, president and chief executive officer of The Dominion of Canada General Insurance Company, "I am delighted to confirm that all of our eligible personal lines policy-holders in the province have received refund cheques or credits."
Distribution
Vertical Growth Network Expands Across Canada.
A unique and innovative network for property and casualty insurance brokers has rapidly expanded to include 32 of the top firms in the country. The Vertical Growth Network is an exclusive network of non-competing, high performance brokers working with a shared set of tools, concepts and leading-edge technology.
CSIO Insurance Portal Status Update
Week ending November 28: Progress items this week were for Ontario Property rates, with Farmers Mutual Lindsay entering into User Acceptance Testing and all of ING, Pilot and Traders signing off on their User Acceptance Testing, with promotion to production to follow.
eBusiness and technology
LOMA and PossibleNOW Provide a Safe Harbor Defense for Do Not Call Compliance.
LOMA has teamed up with PossibleNOW to offer financial services companies an innovative and effective solution to aid compliance with new federal Do Not Call regulations. DNCSolution not only checks numbers against all relevant Do Not Call lists, but also allows for document archiving and comprehensive compliance reporting -- features which help in developing an affirmative litigation defense.
Consumer Information
Ontario's Proposed Auto Insurance Legislation Freezes Rates.
The Ontario government is delivering on another major commitment by taking steps to lower auto insurance rates and protect Ontario consumers, Finance Minister Greg Sorbara announced today. "This is about acting responsibly to protect consumers", said Sorbara. "We're going to reduce out-of-control costs and make sure those savings are passed on to consumers in the form of lower rates."
Holiday Shoppers Beware! Criminals are Targeting Your Identity -- I.I.I. Offers Crime Prevention and Insurance Tips.
The holiday shopping season is heating up and according to a new survey conducted by the National Retail Federation sales are expected to increase this year by almost 6%. Thats good news for retailers; but the increased spending unfortunately provides more opportunities for identity theft.
The Insurance Community
Do you have your tickets to the TIWA Wine & Cheese yet?
On Thursday, February 19th, 2004, TIWA will be holding its annual Wine & Cheese Event. Don't miss this very popular event!
Caregivers ... Canada's Unsung Heroes: Allianz Caregiver Awards.
Several of Canada's unsung heroes have been honoured as part of the 2003 Allianz Canada Caregiver Awards program. Selfless dedication to caring for family members or loved ones with an illness or disability is a hallmark of each of the award recipients.
Strengthening communities through Innovative research: Clarica and Hands Across Canada.
The Offord Centre for Child Studies, affiliated with McMaster University and Hamilton Health Sciences, received an additional $100,000 today to kick off its second year of Hands Across Canada: Building Effective Programs to Help Youth. Sun Life Financial donated the funds as part of its continuing support for Clarica's Contribution to Canada's Children.
from Doug:
Predictions of poor weather evolved into beautiful weekend days here in Toronto. I managed yard cleanup and eaves cleaning, but still a few items to go. Now that it is December, I wish the outside Christmas decorations were up - guess I will have to suffer some cold fingers. My procrastination aside, we wish you all a great final month of 2003 as we gear up for the festive Christmas season and year-beginning celebrations.