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
Economical Insurance Group remains a Full Partner of the Broker Identity Program: IBAC.
August 1, 2007/Toronto – The Insurance Brokers Association of Canada (IBAC) is pleased to announce that the Economical Insurance Group is maintaining its investment as a Full Partner of the Broker Identity Program for 2007.
Colonial Life & Accident Insurance Company Selects SunGard's iWORKS for Sales Illustrations.
Atlanta, GA – August 13, 2007 – SunGard today announced that Colonial Life & Accident Insurance Company has selected SunGards iWORKS NAVIGATOR, a life insurance and annuity illustration system.
Claims
CompWest Insurance Company Selects BearingPoint and Guidewire for New Claims System Solution.
McLean, Va. and San Mateo, Calif., August 15, 2007 – BearingPoint, Inc., one of the world's largest management and technology consulting firms, and Guidewire Software®, a leading provider of solutions to property and casualty and workers' compensation insurers, today announced a collaborative effort to implement, host and maintain a new claims system for CompWest Insurance Company.
USA NER Expands Database Services to Help American Insurers Further Reduce Losses and Increase Recoveries.
NEW YORK, NY, August 14, 2007 The National Equipment Register (NER), the nation's leading database of construction and farm equipment theft and ownership data, has expanded its services for member insurers.
Hurricane Katrina and Insurance: Two Years Later, $40.6 Billion in Insurance Claim Dollars Aid Recovery, Reports I.I.I..
NEW YORK, August 6, 2007 - The single largest loss in the history of the insurance industry occurred two years ago this month when Hurricane Katrina struck the Gulf Coast, causing $40.6
billion in insured damage. Nearly two years later, the overwhelming majority of claims have been settled.
Policy and Product Management
Guy Carpenter Selects Pitney Bowes MapInfo(R) Technology to Power Its Risk Management Solution.
TROY, N.Y., August 16, 2007 - Pitney Bowes MapInfo, the leading global provider of location intelligence, today announced the integration of its location intelligence technology into i-aXs(TM), an innovative, online risk management platform developed by Guy Carpenter & Company, LLC, the world's leading risk and reinsurance specialist.
Consumer Information
One in Four First-Time Homeowners Caught Off Guard by Early Costs: Says First Canadian Title.
TORONTO, June 28, 2007 – More than 600,000 Canadians will have a moving day by the end of August this year, and one in four first-time homeowners will be unprepared for the costs and surprises that come with their purchase, according to a survey conducted by Ipsos-Reid for First Canadian Title, Canada's leading provider of title insurance.
Two Thirds of Canadians (66%) 'Concerned' With the Safety of their Food, Ipsos Reid Finds
August 9, 2007 -- Toronto, ON – When it comes to their food, two thirds (66%) of Canadians say that they are either 'very' (30%) or 'somewhat concerned' (36%) with the safety of the food that they eat, while one third (34%) of Canadians indicate that they are 'not really' (22%) or 'not at all concerned' (12%) with the safety of their food.
Blue Cross named Aeroplan's new travel insurance provider.
Aeroplan today announced that it has signed an agreement with Blue Cross, offering Aeroplan members easy access to Blue Cross customized travel insurance packages.
Bumpers on luxury cars aren't luxurious: worst is Infiniti G35; 4 of 11 cars sustain more than $10,000 damage in 4 minor bumps: Reports IIHS.
ARLINGTON, VA - August 2, 2007 - Bumpers, even those on expensive cars, don't resist damage in low-speed impacts. The Infiniti G35, the worst performer, sustained almost $14,000 damage in a series of 4 tests conducted at 3 and 6 mph by the Insurance Institute for Highway Safety. The Saab 9-3 was the best, sustaining $5,243 damage. Only 3 cars sustained less than $6,000 damage, while 4 would cost more than $10,000 to fix.
Marketing and the Market Place
LIMRA Report Forecasts More Than 360,000 U.S. Firms May Soon Add a New Voluntary Benefit.
Windsor, CT, August 6, 2007 - New research from LIMRA forecasts that up to 363,000 U.S. businesses with 10 or more employees are considering introducing a new voluntary benefit within the next two years, which could impact as many as 45 million employees.
Online Internet Climate Change in Canada: eMarketer Report.
AUGUST 16, 2007 - According to its new report, Canada Online Overview, eMarketer estimates that 21 million Canadians used the Internet regularly in 2006, an increase of one million users over the previous year.
Content Time Comes at Search's Expense: eMarketer.
AUGUST 14, 2007 -- Internet users now spend nearly half of their online time visiting content, according to the Online Publishers Association's "Internet Activity Index," conducted by Nielsen//NetRatings. Time spent with content is up 37% over 2003 levels, the OPA claimed. The Index measures time spent with e-commerce, communications, content and search.
eBusiness and Technology
IDC Predicts Rapid Growth for Business Process Management Software Market, Reaching $5.5 Billion by 2011.
FRAMINGHAM, Mass., August 9, 2007 - A new IDC study reveals that the market for business process management suite (BPMS) software is one of the fastest-growing software markets, and is establishing itself as the front end to next-generation deployment platforms used to build custom applications.
A Democratisation Process Will Bring Wireless E-Mail to the Masses, Says Gartner.
Egham, UK, July 25, 2007 - Once the preserve of the business elite, wireless e-mail is undergoing a democratisation process that will bring it to the masses, according to Gartner. Not only is wireless e-mail spreading ever-wider across the enterprise but consumers will increasingly access their email on mobile devices.
Insurance CIO/CTO Pressures, Priorities, Projects, and Plans:The View Across the Atlantic: Report Published by Celent.
London, United Kingdom - 8 August 2007 - In a new report from Celent, Insurance CIO/CTO Pressures, Priorities, Projects, and Plans: The View Across the Atlantic, Celent provides a comparative analysis about behaviors, initiatives, challenges, and priorities for 2007 between insurers in the United States and Europe, based on its in-depth surveys of 46 CIO/CTOs from the US and Europe at the end of 2006.
from Doug:
I organized and ran a one-day bus trip for our heritage group on Saturday. We visited The Marine Museum in southern Prince Edward County, south of Picton and Belleville. I had not realized the extent of the marine history that Ontario has, and Prince Edward County supplied more than a fair share of sailors and boats, especially those in the days of sail. Picton welcomed us for lunch; what a fabulously rich and well-preserved set of early Ontario architecture. We concluded our day with a visit to the Loyalist Cultural Centre at Adolphustown and the Old Hay Bay Methodist, now United, Church. It was a superb day, even if I say so myself!