Issue 2005-24: June 14, 2005
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
HealthQuotes.ca and Ontario Blue Cross presents a "LEARN and EARN" seminar on Blue Vision.
Toronto ON 9 June 2005 - HealthQuotes.ca is pleased to announce that on June 21, 2005 we and Ontario Blue Cross will be giving a seminar on Ontario Blue Cross' new small group and individual insurance product , 'Blue Vision'.
Applied Systems Canada, Inc. and Custom Software Solutions Inc. Sign Integration Deal.
Mississauga, Ontario and Virden, Manitoba Canada (June 9, 2005): Custom Software Solutions Inc. and Applied Systems Canada, Inc. announce the integration of Custom Software Solution's IntelliQuote™ (IQ) rating and underwriting product with Applied Systems' agency management systems, The Agency Manager® (TAM) and TAMOnline™.
Redesigned 'ACTtech' Web Site Streamlines Real-Time Interface Resource For Agents, Brokers, Industry.
ALEXANDRIA, Va., (May 23, 2005)-The Agents Council for Technology (ACT) today unveiled new design and functionality for ACTtech, a Web site resource to help independent agents and brokers leverage the latest real-time interface, download, and other time-saving technology capabilities that their particular vendors and carriers are offering.
Three more customers to join Kinnect.
Eight of Lloyd's ten largest managing agents now back electronic platform Kinnect after three more businesses pledged their support for it today.
CSIO Insurance Portal Status Update
Week ending June 10, 2005:
The number of brokers has increased by five to 181, with 14 more in progress.
York Fire & Casualty has agreed to use the Portal.
Policy and Product Management
Texas Farm Bureau Insurance Companies Select Sapiens INSIGHT™ For Property & Casualty Solution Suite.
Anaheim, CA, June 8, 2005 - Sapiens International Corporation N.V., a member of the Formula Group, announced today at the 2005 Insurance Accounting & Systems Association (IASA) annual conference being held in Anaheim, California, that Texas Farm Bureau Insurance Companies had licensed its innovative Sapiens INSIGHTTM for Property & Casualty solution suite.
Consumer Information
IBC: Protect your family and your property before Alberta floods occur.
Insurance Bureau of Canada is advising policyholders in southern Alberta to prepare in advance of possible flooding.
44% of Private Companies Expect to be the Target of Employment Litigation: Insurers Financial Group.
Employment Practices Liability risks are becoming an increasing "Hot Button" for lawyers and a going concern for employers. In a 2004 survey of private companies, one-in-four respondents had been a target of an employee lawsuit. This survey further suggests 44% of private companies expect to be a target of employment litigation.
eBusiness and Technology
ACORD Surveys Top 25 Members, Shares Results. Role of Standards Strong and Growing.
ORLANDO, FL - May 23, 2005- How are ACORD (www.acord.org) members using standards and planning their strategies? That was just one of the questions put before ACORD's top 25 Life and Annuity, Property & Casualty/Surety, and Reinsurance/Large Commercial members.
The Application Management Services Market Heads for Growth in 2005, IDC Finds.
FRAMINGHAM, Mass., May 19, 2005 - According to a recent IDC study, approximately $17.9 billion was spent worldwide on application management (AM) services in 2004. Due to a strong surge in demand for application management services, the worldwide market is expected to grow at an overall compound annual growth rate (CAGR) of 9.2% and reach $27.2 billion by 2009.
Business of Insurance
Canadian Life and Health Insurance Association announces election of 2005-2006 Chairman and Board of Directors.
TORONTO, June 1, 2005 - At the Annual Business Meeting of the Canadian Life and Health Insurance Association, Inc. held in Toronto today, James A. Brierley, President, Munich Reinsurance Company, Canada Branch (Life), was elected Chairman of the Association for the year ahead.
New Eastbridge package looks at how carriers can prepare for the future.
AVON, CONNECTICUT, USA (May 24, 2005) - By the year 2020, change will have overwhelmed the traditional approaches of carriers in the benefits business. We'll see more niche manufacturers (carriers) that sell a single product line (or a few closely related products) rather than a broad range of products.
Manulife-Sinochem begins operations in fifth China city: Foshan.
FOSHAN, China, June 2, 2005 - Manulife-Sinochem Life Insurance Co. Ltd., a subsidiary of Canadian-based Manulife Financial, the world's fifth largest life insurance company, today opened its doors to business in the city of Foshan, Guangdong province - the fifth city in China in which it now conducts business.
Claims
Hurricane Backgrounder: Claims and Property Loss Information.
JERSEY CITY, N.J., May 26 - The U.S. hurricane season, which begins June 1 and runs through November, exposes tens of millions of people living along the Eastern Seaboard and Gulf Coast to devastating property losses from hurricanes and tropical storms. The attached fact sheet is a useful source of background material for your coverage of natural disasters in the coming months. The information is compiled from ISO's Property Claim Services (PCS) database on property losses for man-made and natural disasters.
Insurance in the Community
Manulife Bike and Hike for Heart to surpass goal as riders, walkers support cardiac care in Waterloo Region.
WATERLOO, ON, June 5, 2005 - More than 1,200 cyclists, walkers and volunteers took part in the 13th annual Manulife Bike and Hike for Heart today as organizers continue to tally donations to fight one of Canada's number one killers - heart disease.
Marketing and the Market Place
eMarketer: Canadian Travelers Click, But Don't Necessarily Buy.
Canadian Internet users are using the Net to research travel, but they are not so quick to make online travel purchases.
from Doug:
After a month of travelling, it is great to be somewhat settled down for a few days. With so much going on in the business though, it is hard to relax.
Eldest son decided to start his permanent job on July 4, only to receive a request from his employer to begin June 20, two weeks earlier. Hence a scramble to find an apartment, now successfully done. Now to move his belongings, and celebrate his graduation ceremonies at U. of Waterloo this Saturday. Just one more reason why relaxation has been elusive.