Issue 2006-51: December 19, 2006
eBusiness and Technology
Information Builders Extends the Power of Active Reports to Mobile Devices.
New York, NY – December 6, 2006 – Information Builders, the enterprise business intelligence (BI) standard of choice for organizations around the world, today announced that WebFOCUS Active Reports, the industry's first portable BI solution, are now available on mobile devices, including Treos, Dell PDAs, HP PDAs, Samsung devices, and others. Any device running the Opera Mobile browser can access and interact with Active Reports.
IT Spending Trends: A Global Financial Services Review - Report Published by Celent.
New York, NY, USA - November 13, 2006 - In a new report, IT Spending Trends: A Global Financial Services Review, analyzes IT spending trends across different industry verticals (banking, insurance, and securities and investments) and different regions (North America, Europe, and the Asia-Pacific region) in addition to an overview of Latin America and Africa. The prime focus of the report is to compare and contrast to pinpoint and understand the direction of IT spending among financial services institutions.
Claims
The Ohio Casualty Insurance Company Selects Guidewire ClaimCenter.
FAIRFIELD, OH and SAN MATEO, CA, December 14, 2006 – The Ohio Casualty Insurance Company (Ohio Casualty), headquartered in Fairfield, OH, and Guidewire Software®, a leading provider of solutions to property and casualty insurers, today announced that Ohio Casualty has selected Guidewire's industry leading ClaimCenter system. Guidewire ClaimCenter will support Ohio Casualty's end-to-end claims process for personal and commercial lines of business and will replace the company's existing claims system through a phased deployment over the next 20 to 36 months.
ICBC takes civil action against 20 people allegedly involved in an auto theft scheme.
December 12,2006 - ICBC has filed a civil action against 20 Lower Mainland residents and two companies, for their alleged involvement in the theft of and/or use of stolen vehicles.
Business of Insurance
Industrial Alliance sells its Caribbean life insurance block of business.
QUEBEC CITY, Dec. 12 - Industrial Alliance Insurance and Financial Services Inc. (Industrial Alliance) announced today that it has signed an agreement to sell its Caribbean block of business to Sagicor Capital Life Insurance Company Limited, a subsidiary of the Barbados company Sagicor Life Inc. whose parent company is Sagicor Financial Corporation (Sagicor). This block is primarily made up of individual life insurance.
Conning Research Projects Accelerating Life Industry Premium Growth , Record Operating Gains, and Continued Surplus Growth through 2008.
Hartford, CONN., October 26, 2006 - The life insurance industry accelerated its rapid profit growth in 2005 with statutory net operating gains of $32.8 billion in 2005, according to the latest analysis for the life-health insurance industry from Conning Research and Consulting, Inc.
Managing the Insurance Cycle, published by Lloyd's.
07/12/2006 - Refusing to 'follow the herd', providing the right incentives for underwriters, and investing in risk management tools are among key recommendations for managing the insurance cycle in a report published today.
Insurance Information Institute (I.I.I.) - U.S.A. Auto Insurance Premiums Expected to Drop in 2007 for First Time Since 1999.
NEW YORK, December 5, 2006 - The typical U.S. driver will pay less for auto insurance in 2007 than in 2006, with the average premium expenditure expected to drop by 0.5 percent, reported the Insurance Information Institute (I.I.I.). The average annual cost for auto insurance premiums nationwide for 2007 is estimated at $847 per policy, the first decrease since 1999.
Policy and Product Management
Xactware's Network Processes Five Millionth Valuation.
Orem, Utah, December 7, 2006 — XactValue reached a significant landmark recently when it processed its five millionth valuation. XactValue is a tool used by the property industry to determine the replacement cost of a structure. The correct replacement cost is critical for both insurers and policyholders.
Consumer Information
People should invest in their number one asset before anything else! – Consider Critical Illness Insurance.
Most Canadians right now live on 103% of their earned income and have little or no savings. Credit is in all time abundance, and buying a house is easier now than it ever has been. The economy is being bolstered by continually lowering interest rates and we are relying more and more on our own abilities to earn an income.
Concern Over Identity Theft Is Changing Consumer Behaviour: Ipsos Reid Survey.
November 30, 2006 Toronto, ON – A new survey released today by Capital One and conducted by Ipsos Reid asked Canadians across the country about identity theft. Almost three quarters (73 percent) of Canadians are concerned about becoming victims of identity theft, while only 33 percent of Canadians feel that they are very well informed about how to protect themselves against identity theft.
Tips from HUB International Personal Insurance - Valuable Thinking: Protecting You, Your Family and Your Lifestyle During the Holiday.
Chicago November 28, 2006 - For most people, the holidays are a time to shop and spend, travel and revel. It is also easy to be distracted, or worse, a victim, putting yourself, your finances, and your family at risk. "There are a few simple steps everyone can take around the holidays to protect themselves from theft, liability, property damage or injury," says James Kane, president of HUB International Personal Insurance.
IIHS: 2007 TOP SAFETY PICK award winners: award criteria are tougher; SUVs eligible for first time.
November 21, 2006 - ARLINGTON, VA - The Insurance Institute for Highway Safety announces 13 vehicles that earn TOP SAFETY PICK awards for 2007. Winners include 4 cars, 7 SUVs, and 2 minivans. This award recognizes vehicles that do the best job of protecting people in front, side, and rear crashes based on ratings in Institute tests. Winners also have to be equipped with electronic stability control (ESC).
Marketing and the Market Place
New Trusted Choice® Survey Finds American Hosts Grossly Unprepared for their Liability.
ALEXANDRIA, Va., Dec. 11, 2006 - Most of the 28.5 million Americans who plan to host a party
between Thanksgiving and the Super Bowl are underinsured, according to a new study by Trusted Choice®. Of those 28.5 million party hosts, 21.3 million do not have a personal umbrella insurance policy, leaving themselves open to potential lawsuits and facing financial ruin, should the worst occur. The remaining 7.2 million hosts say they don't know what coverage they have, leaving them vulnerable too.
Honouring Our People
CIP Society Announces 2006 Fellow of Distinction Award Recipient.
Toronto (December 11, 2006) The CIP Society, a division of The Insurance Institute of Canada, announced today that J.R. (Bob) Tisdale, MBA, FCIP, CRM, president and chief operating officer of both Pembridge Insurance Company and Pafco Insurance Company and vice president of Allstate Canada Group has been selected by the nomination review committee as the 2006 recipient of the GTA Fellow of Distinction Award.
from Doug:
All of us at Insurance-Canada.ca wish you a Merry Christmas and a safe, healthy and prosperous New Year.
We will take a short break to enjoy the season ourselves, so this newsletter will not be published next week but will return about January 2, 2007 - I have just gotten used to writing 2006 and already it is time to change.
We will have our two boys home for the holiday period, and over Christmas will visit both sets of grandparents. We look forward to our family visits, and hope that you too have a great time with your families. Keep in mind the real spirit of Christmas and any other events you may celebrate. – Doug