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
Keal Announces Partnership with PowerSoft.
Concord, ON: May 7, 2007 – Keal Technology, a leading software developer for the Canadian Insurance Industry, today announced they have entered into a partnership with Canadian software developer, PowerSoft. This partnership will offer Keal sigXP, (Broker Management Software) clients with the option of using PowerSoft's rating tool, PowerQuote, for personal lines insurance rating, quoting, and prospecting.
Claims
Automated Benefits Surpasses 6,000 Users of the Symbility Mobile Claims(™) System.
WATERLOO, ONTARIO--(May 2, 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 6,000 registered users. The user base is comprised of now more than 700 independent companies across Canada and the United States.
Policy and Product Management
Product competition is a concern for worksite executives, according to a recent Eastbridge study.
AVON, CONNECTICUT, USA (April 24, 2007) - Product competition ranked second as a top obstacle for worksite/voluntary executives surveyed in a recent study, Worksite Marketing: An Executive Perspective 2007. In addition, product competition was the most common answer when executives were asked what their company's greatest obstacle would be in five years.
Business of Insurance
Conning Research: Upcoming Baby Boomer Retirement Bulge to Redefine Retirement Market Strategy for Life-Annuity Companies.
Hartford, CT, May 8, 2007 - The retirement industry is facing looming strategic and operational challenges as more than 70 million Baby Boomers near retirement, according to a new study by Conning Research and Consulting, Inc. "A substantial amount of attention has been paid to the upcoming retirement of the Baby Boomers," said Scott Hawkins, analyst at Conning Research & Consulting, Inc. "Most of the life insurance industry's attention has been on the competition for assets as Boomers ready for retirement."
Consumer Information
Allstate Insurance Company of Canada develops strategic alliance with LifeCall.
Allstate Insurance Company of Canada policyholders are now able to access an exclusive, value-added offer for personal emergency response services provided by LifeCall, a national provider of personal emergency response systems.
Nine out of ten patients report improvements after inpatient rehabilitation stay: CIHI.
A new report from the Canadian Institute for Health Information (CIHI) shows that in 2005-2006, 91% of patients discharged from a rehabilitation hospital or facility were able to achieve an appropriate level of functional independence by the end of their stay, and that most were able to return home.
Desjardins Study: Survey shows "workaholic" label is losing its luster as Canadians seek more time with family.
TORONTO (Tuesday, April 24, 2007) - Bragging rights about being a workaholic may be coming to an end and being replaced by a focus on the family according to a study published today by Desjardins Financial Security. The study found that only 22% of Canadians now consider themselves to be a workaholic. When asked about the values most important to Canadians, 54% of Canadians listed family while work was only listed by 10% of Canadians.
Study Shows Expansion of Extended Double Trailers Helps Tackle Climate Change: Canadian Trucking Association
(Ottawa, April 25, 2007) -- The Canadian Trucking Alliance, working with Natural Resources Canada through its Memorandum of Understanding to reduce climate change emissions from trucks, has just completed a study that will confirm to governments throughout North America that extended double trailer configurations — known in the industry as turnpike doubles — offer a means to dramatically reduce climate change emissions from trucks and improve highway safety.
Marketing and the Market Place
eMarketer: Canadian Online Ad Revenue Climbs.
MAY 2, 2007 - Canadian online advertising revenues reached C$1.01 billion in 2006, according to the Internet Advertising Bureau of Canada's (IAB's) "2006-07 Canadian Internet Advertising Revenue Report."
Product Announcements
Newest Empire Life fund focuses on global dividend growth.
May 7, 2007 (Kingston, ON) -- The Empire Life Insurance Company (Empire Life) today announced the launch of the Empire Global Dividend Growth Fund, a low risk, low volatility segregated fund suited for investors of all risk tolerances.
XN Financial announces Canadian launch of XN Global Preferred Care.
MONTREAL, May 9, 2007 - XN Financial announces the Canadian launch of XN Global Preferred Care, a new approach to critical illness for groups and individuals that's designed for one purpose: maximizing the chance of a full and fast recovery from the world's most life-threatening diseases, including cancer and heart disease.
Travelers Provides Kidnap and Ransom Crisis Management Support Through ASI Global.
SAINT PAUL, MINN., May 9, 2007 - Travelers today announced the availability of crisis management support to kidnap and ransom policyholders around the world through ASI Global, LLC, a wholly owned subsidiary of ASI Group, LP, a leading independent risk consulting organization that provides intelligence and security services to Fortune 500 and international companies, government agencies, humanitarian organizations, high profile executives, celebrities and high-net worth individuals.
Reference and Statistics
Commercial Insurance Premiums Reflect Continuation of 2006 Trends: RIMS.
New Orleans, April 30, 2007 - According to the RIMS Benchmark SurveyT, the first quarter of 2007 reflected a continuation of the same commercial insurance pricing trends reported in 2006. The RIMS Benchmark SurveyT is the industry's leading comprehensive survey of current policy renewal prices as reported by corporate risk managers.
Sharp Premium Drops, Looser Underwriting Reported for First Quarter 2007: CIAB.
WASHINGTON - APRIL 23, 2007 - Commercial property/casualty premiums for all sizes of accounts dropped sharply during the first quarter of 2007, with indications that insurance companies are starting to loosen underwriting standards and price aggressively to get business, according to the latest Commercial Property/Casualty Market Index by The Council of Insurance Agents & Brokers
eBusiness and Technology
Gartner Says SOA Will Be Used in More Than 50 Percent of New Mission-Critical Operational Applications and Business Processes Designed in 2007
STAMFORD, Conn., April 25, 2007 - Service-oriented architecture (SOA) will be used in more than 50 percent of new mission-critical operational applications and business processes designed in 2007 and in more than 80 percent by 2010, according to Gartner, Inc.
Gomez Introduces Industry-First On-Demand QA Solutions for Web 2.0 Applications.
SAN MATEO, Calif., April 17, 2007 - Gomez Inc., the leading provider of on-demand web application experience management solutions, today announced the industry's first on-demand QA (quality assurance) applications at the Software Test & Performance Conference (STPCon) Spring 2007, the industry's premier software testing, QA and performance management event.
from Doug:
In a couple of weeks a small bus load of us from across Canada will make our way from Toronto to Windsor for a conference. As a heritage group, it seemed appropriate that we should see a few monuments and museums enroute. This past Saturday I drove the route as far as Chatham. Although slightly cooler than the norm, the bright sun and wonderfully green country-side made it a relaxing and enjoyable outing. "Doors Open" was being held in the Chatham area on the weekend - a little serendipity. Reinforced to me once again that there is history in our own back yard, if we just take a minute to seek it out.