Issue 2005-34: August 23, 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.
Claims
Traffic Injury Research Foundation: Proceedings of the 2nd Annual Meeting of the Working Group on DWI System Improvements are now available.
August 11, 2005 - Proceedings of the 2nd Annual Meeting of the Working Group on DWI System Improvements, held in Orlando, FL on April 10-12, are now available from TIRF. Speaker presentations focused on the six priority areas identified by the Working Group: technology, records, training and education, communication and cooperation, legislation, and resources.
MS/B Releases Annual ITV Quality Index Results: Undervaluation Improvements Continue.
LOS ANGELES August 18, 2005 - Undervaluation statistics for the United States homeowners business have continued to improve since 2004 says Marshall & Swift / Boeckh (MS/B). MS/B, the leading worldwide provider of building cost data and estimating technology to the property insurance industry, has been tracking home valuation statistics since the early 1990's and reports it as the MS/B ITV Quality Index".
Consumer Information
Ontario Government Increases Access to Home Care and Community Support Services.
July 19, 2005 - TORONTO - A significant new investment by the McGuinty government will mean that more than 54,000 Ontarians who require care can receive it at home or in the community, Health and Long-Term Care Minister George Smitherman announced today.
Canada's Health Care System: A Report Card: Ipsos Reid Survey for CMA.
August 15, 2005 Toronto, ON - The fifth annual report card on the health care system in Canada, an Ipsos-Reid study conducted on behalf of the Canadian Medical Association (CMA), finds that Canadians see no improvement in the health care system since 2003 and are less optimistic about its future. It also finds that Canadians overestimate how well the Canadian health care system performs in comparison to those of other developed countries.
Planning an Expensive Vacation This Summer? Insurance is Available in Event of a Disaster: Insurance Information Institute Provides Tips for Purchasing Travel Insurance.
NEW YORK, August 9, 2005 - Travel insurance provides financial protection for pre-paid vacations in the event of sudden illness, a catastrophic hurricane or even a terrorist attack, says the Insurance Information Institute (I.I.I.).
Manitoba Public Insurance says Manitobans need to improve theft-proofing methods.
Too many Manitobans are unwittingly tempting auto thieves to break into their vehicles, according to the latest audit conducted by Manitoba Public Insurance and its auto theft prevention partners.
Insurance Institute for Highway Safety: 1 Million Crash Injuries Occur in the United States each Year on Urban, Suburban Roads - Reducing These Crashes Doesn't have to Cost a Lot & Disrupt Traffice; Can Be Simple.
August 3, 2005 - ARLINGTON, VA - Most crash deaths occur on rural roads, but motorists drive 2 billion miles every day on urban arterial roads. About 8,000 deaths and more than 1 million injuries occur each year on these roads. The crashes aren't occurring haphazardly. Many of them happen in predictable locations and involve predictable sequences of contributing events. Remedies can involve costly and disruptive re-engineering of the roadways - but not always. Some relatively simple and inexpensive roadway changes can be effective
Canadian ergonomists gather in Halifax to discuss preventing workplace injuries through better ergonomics: NS WCB.
HALIFAX, Aug. 15, 2005 - Hours spent at improperly configured computer workstations, slips and falls due to inadequate lighting, repetitive strain from poor design of industrial tools and controls - these are just a few examples of the poor ergonomics affecting workers in all industries every day in Nova Scotia.
Distribution
New President Elected for Independent Financial Brokers Association.
August 18, 2005 - TORONTO, Ontario - Independent Financial Brokers ("IFB"), a national not-for-profit professional association representing independent life insurance and mutual fund advisors held its Annual General Meeting yesterday in Mississauga Ontario. Members voted on and unanimously revised the By-Laws of the association, and passed a Special Resolution to reduce the overall size of the Board of Directors to 18.
Marketing and the Market Place
Internet Users are Steamed in Canada at Online Threats: eMarketer.
Online threats like viruses, worms, phishing and spam cause computer users plenty of stress. A survey of Canadian surfers finds a fair amount of swearing and shouting is the result.
Statistics Canada - Current economic conditions: Canadian Economic Observer.
August 11, 2005 - According to the August assessment of current economic conditions in the latest edition of Canadian Economic Observer, mining led economic growth in the spring, and the boom in commodities sent investment in non-residential construction soaring in Western Canada. Household spending took a breather in May, although housing and autos sales turned up again in June. First-quarter growth was driven by consumer spending and business investment.
Canadian Association of Insurance Women - Insurance Information Campaign is Underway!!
August 16, 2005 - This committee was formed in 1981. The purpose of the program is to create and develop a positive public image for the insurance industry. The program is to strive to have contact with the public in an information based project. The original program developers wanted to see a program presented by The Insurance Women's Associations all across Canada. The program could and should include participation of all insurance related services, insurance companies, brokers, adjusters, marketers, fire organizations and police. This program is to include individuals, but it is not to promote any single company's services. Remember, the goal is to promote the insurance industry public image, not to publicize a particular person or a particular company.
Policy and Product Management
Quest Diagnostics to Acquire LabOne for $934 Million in Cash.
Lyndhurst, N.J. and Lenexa, Kansas, August 8, 2005 - Quest Diagnostics Incorporated, the
nation's leading provider of diagnostic testing, information and services, announced today that it has signed a definitive agreement to acquire LabOne, Inc. Under the terms of the agreement, which was unanimously approved by both companies' Boards of Directors, Quest Diagnostics will acquire all outstanding common shares of LabOne for $43.90 per share in a cash transaction valued at $934 million, after the assumed settlement of LabOne's convertible debt for $132 million.
Managing Relationships and Customer Service
New KANA Express Suite Gives Mid-Market Companies the Power to Improve Customer Service While Reducing Costs.
Menlo Park, Calif. -- August 9, 2005 - KANA Software, Inc., a leading provider of Service Resolution Management (SRM) solutions, today unveiled its eService Suite of Express products for the mid-market. The first offerings, KANA Response Express and KANA Response Live Express, will leverage KANA's proven and award-winning email response management and Web collaboration technologies. The KANA eService Suite of Express products will be available in both On Demand and premise versions and are highly scalable to meet the growing needs of mid-market companies.
eBusiness and Technology
ACORD Forum London, 19-20 October, a New Focal Point for International Insurance.
LONDON, UK - 9 August, 2005 - The international insurance community will gain a new focal point this coming October when ACORD osts its inaugural ACORD Forum in London, 19-20 October, at Gibson Hall. This market is experiencing a high level of intervention and activity as it responds to calls for reform, greater regulatory compliance, contract certainty and other issues.
'Extreme Data' Revolutionizing the Way Companies Do Business, Says CSC Report.
EL SEGUNDO, Calif., Aug. 17, 2005 -- Organizations increasingly must learn to cope with the explosion of "extreme data" -- new types of data unleashed by new devices and used in new ways -- says a report announced today by Computer Sciences Corporation, Extreme Data: Rethinking the "I" in IT.
TowerGroup Examines How Institutions Can Drive Holistic Business and Technology Transformations to Improve Efficiency.
Reposted with correct content; sorry for the error.
NEEDHAM, MA, July 27, 2005 - According to new research from TowerGroup, many global financial services institutions lag the industry's leaders in operational efficiency by as much as 30%. A review of a select group of top diversified global financial institutions found that these institutions averaged around 60 cents in cost to produce $1.00 of revenue. This is compared with the industry's top performers, who spend just over 40 cents for that same $1.00 of revenue.
Business of Insurance
Sun Life Financial sells Chilean investment.
Toronto, ON - August 12, 2005 - Sun Life Financial Inc. (NYSE, TSX: SLF) announced today that it had reached agreement in principle to sell its 31.72% investment in Administradora de Fondos de Pensiones Cuprum S.A. to Empresas Penta S.A. for approximately $120 million in cash. The sale is expected to be completed in August.
from Doug:
The frightening aspects of Friday's very dark skies, heavy rains, tornado watch and in a couple of cases twister touch-downs brought extensive damage to Southern Ontario.
The storm's impact was counteracted for a few of us by a heritage bus trip through Port Hope, Peterborough and Lakefield on Saturday. We have such a wealth of history which goes unrecognized until you start scratching the surface. With some 500 canoes on display and another 3,000 warehoused, I strongly recommend a visit to the Canoe Museum in Peterborough - and allow yourself lots of time!