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.
Update on "Business Intelligence" Conference on March 5.
Less than two weeks until the Conference - register today!
Don't miss Dennis Maroney, Industry Manager, Microsoft and Seth Rachlin, CEO, Moore Stephens Business Solutions when they discuss:
For registration and more information on the Business Intelligence conference.
Managing Relationships and Customer Service
SAS customer Wachovia wins 1to1 Impact Award for customer strategy.
CARY, NC (Feb. 05, 2007) - Each year 1to1® Magazine presents its 1to1 Impact Awards to organizations that have shown outstanding achievement in delivering business results
through their customer strategies. SAS, the leader in business intelligence, is proud to announce that Wachovia is the recipient of the 6th Annual 1to1 Impact Award for customer strategy. Wachovia was selected for demonstrating its ability to identify, differentiate and interact with customers according to their needs and values.
eBusiness and Technology
SunGard Unveils 2007 Industry Predictions for Information Availability.
Wayne, PA - January 24, 2007 - SunGard Availability Services today released its 2007 industry predictions for information availability trends. The industry predictions focus on the top emerging issues that will influence companies as they work to decrease information technology (IT) downtime and reduce business risk.
ACORD President & CEO Gregory A. Maciag Launches Blog.
PEARL RIVER, NY - February 7, 2007 - PEARL RIVER, NY - Recently launched, acordceo.org is a new blog from ACORD President and CEO Gregory A. Maciag enabling two-way communication with the association leader. The blog lets people see, and respond to, what's on Mr. Maciag's mind. The blog was created as yet another vehicle for ACORD and its members to speak directly with each other and all industry participants.
Financial Services Institutions Increase IT Spending on Risk Management Solutions: TowerGroup.
Needham, MA, February 13, 2007 - Amid a continuing wave of business globalization, financial services institutions (FSIs) are tapping advanced technologies to reframe their operations. In addition, FSIs are being challenged to align their operational risk management and fraud prevention capabilities to contain a multitude of threats. New research from TowerGroup estimates that IT spending on external risk management solutions is growing at an 11% compound annual growth rate.
Claims
Free IntegriClaim Training from MSB for PLRB/LIRB Conference Attendees.
LOS ANGELES - February 9, 2007 -- Marshall and Swift / Boeckh (MSB), an MDA company and the leading provider of building cost data and estimating technology to the property insurance industry worldwide, returns to the 2007 PLRB/LIRB Conference and Insurance Services Expo with free IntegriClaim (TM) "mini" training sessions on Sunday, March 18, 2007, at the Walt Disney World Dolphin Hotel, Orlando, Florida. Space for MSB's two mini-sessions is limited and pre-registration for each session is required.
Automated Benefits Surpasses 5,000 Users of the Symbility Mobile Claims (TM) System.
WATERLOO, ONTARIO -- Jan. 29, 2007 - Symbility Solutions Inc., a wholly owned subsidiary of Automated Benefits Corp. is pleased to announce a new milestone in the adoption of its mobile claims processing solution as this week it exceeded 5,000 registered users.
Guy Carpenter Announces Successful Implementation of Accounting & Settlement (Phase 1).
London, February 1, 2007 -- Guy Carpenter & Company Ltd., the leading global risk and reinsurance specialist and part of the Marsh & McLennan Companies (NYSE: MMC), today announced that, building on the successful implementation of the Electronic Claims File initiatives in the London Market, it is now live with the Accounting and Settlement (A&S) Market Repository via the ACORD Document Repository Interface (DRI) standards, for premium submissions to Xchanging Ins-Sure Services.
TIRF releases 10 Steps to a Strategic Review of the DWI System: A Guidebook for Policymakers.
February 13, 2007 - TIRF has released 10 Steps to a Strategic Review of the DWI System: A Guidebook for Policymakers. The report is designed to assist policymakers in leading a strategic review of the DWI system at the local, county, or state level to improve the efficiency and effectiveness of the DWI system and close loopholes commonly exploited by savvy repeat offenders. This report was developed by the Working Group on DWI System Improvements at their 3rd Annual meeting held in April 2006.
Policy and Product Management
SunGard iWORKS Launches ProCede Advantage.
Atlanta, GA - February 12, 2007 - SunGard announced today the launch of iWORKS ProCede Advantage. This new version of SunGard's reinsurance administration solution incorporates advances in ceded, retrocessional and assumed reinsurance.
Distribution
State Auto Builds Bridge for Applied Systems Agencies
COLUMBUS, Ohio - January 25, 2007 - The State Auto Insurance Companies have eliminated an automation roadblock for independent State Auto agencies using Applied Systems agency management systems. State Auto has implemented IVANS ™Transformation Station T, a routing service that creates a "bridge" between Applied Systems agency management systems and State Auto's agency extranet, AgentSite.
Consumer Information
More than half of eligible working Canadians miss out on employer-sponsored group RRSPs: Sun Life Financial.
TORONTO, Feb. 14 , 2007 - While Canadians tend to focus on individual RRSP contributions, many neglect a critical part of their overall retirement savings - group RRSP contributions. According to data from Sun Life Financial, of the nearly 500,000 Sun Life members eligible for employer-sponsored RRSP programs, only 230,000 take advantage of them. Since many of these plans include company matching of employee contributions, this means Canadians are leaving money on the table.
Insurance Corporation of British Columbia to change new-driver training incentive March 31, 2007.
After March 31, 2007, any new driver who starts and completes an approved course will no longer be eligible for the three-month Learner stage time reduction, says Insurance Corporation of British Columbia (ICBC).
Natural Resources Canada Releases List of Fuel-Efficient Vehicles and 2007 Fuel Consumption Guide.
February 14, 2007, OTTAWA - Shopping for a new vehicle that saves money on fuel and also helps the environment just got easier. The Honourable Gary Lunn, Minister of Natural Resources, today announced the release of Natural Resources Canada's 2007 Fuel Consumption Guide and the 2007 EnerGuide winners for the most fuel-efficient new vehicles sold in Canada.
Marketing and the Market Place
Building permits and intentions set new records: StatsCan.
Tuesday, February 6, 2007 -- Construction intentions hit another record high in 2006, thanks mainly to soaring demand for residential and non-residential space in Western Canada. The annual level of permits has now increased for 11 consecutive years. Municipalities issued a record $66.2 billion worth of building permits, up 9.0% from the previous high of $60.8 billion in 2005. Construction intentions in both the residential and non-residential sectors reached new highs. Intentions also set new records in every province, except Prince Edward Island and Ontario.
Online to Account for Majority of US Travel Market: eMarketer
FEBRUARY 15, 2007 -- In most markets, the online segment accounts for only a small portion of total revenues and sales. But that is not the case in the travel business. According to a new report from Burst Media, based on data from PhoCusWright Research, this year the Internet will make up over half of all of the travel industry's transactions.
Reference and Statistics
Commercial Insurance Premiums Indicate USA Market Momentum: RIMS Survey.
New York, Feb. 5, 2007 - In the fourth quarter of 2006, commercial insurance premiums reflected some of the year's most dramatic rate changes, according to the RIMS Benchmark SurveyT. As predicted by Advisen analysts, the soft market continues to gain momentum due to a relatively stable year free of major catastrophes. The RIMS Benchmark SurveyT is the industry's leading comprehensive survey of current policy renewal prices as reported by corporate risk managers.
from Doug:
February is the month when we particularly celebrate our heritage in Canada. As I delve further into my own interest in the Loyalist time frame, from the Seven Years War through the American Revolution and up to the War of 1812, I continue to find more fascinating details. Although I am glad there is an increased interest in our Canadian history, I only wish we had had more emphasis during our school years - sigh. If we keep working at it, perhaps one day Canadians will understand as much about our own history as we seem to know about the history of our American neighbours.