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.
Policy and Product Management
Skywire Software and Insurance Systems Inc. (ISI) Announce Partnership.
Frisco, TX; Toronto, ON November 15, 2007 -- Skywire Software, a leading global provider of software and services to the insurance industry, today announced it has formed a partnership with policy administration vendor Insurance Systems Inc. (ISI). The new alliance will give insurers the ability to accelerate rating and underwriting, enhance their ability to write more business and better manage communications with insureds.
AIR Worldwide Releases Updated U.S. Terrorism Model.
BOSTON, Nov. 13, 2007 - AIR Worldwide Corporation (AIR) today announced the release of its updated U.S. Terrorism Model, available in Version 9.5 of its catastrophe risk management systems. The release of the new U.S. Terrorism Model incorporates the results of two years of research into the effects of conventional bomb blast in complex urban environments.
Claims
Top 3 Reasons You Should Replace Your Legacy Claims System: White Paper from Guidewire Software.
Every insurance carrier's financial performance depends heavily on its claims organization, and increasingly so in a soft market. However, when it comes to investments in modern systems, claims departments have too often been overlooked and now lack the tools they need to impact bottom line performance.
ING Canada announces collaboration with BASF Canada to support Rely auto shop partners.
Friday, November 09, 2007 - Toronto - ING Canada announced today that it is collaborating with BASF Canada to support its Rely Network of preferred auto body shops in their efforts to reduce environmental emissions by promoting the use of waterborne auto paint.
eBusiness and Technology
IBM and Innovation Group Open New Innovation Center in India; New Center Helps Insurance Companies Transform their Business.
Bangalore, India, and Newton, Mass. (September 6, 2007) -- IBM and Innovation Group today opened a new Innovation Center for Global Insurance in Bangalore, India. The new center will help the companies innovate on next generation core systems, develop new business models, and tap emerging technologies to create competitive advantage and improve the customer experience.
Business Innovation Will Come from Organisational Openness, Says Gartner.
Cannes, France, November 7, 2007 - Shrinking returns from business automation and the impact of Web 2.0 are conspiring to revolutionise the workplace and change the way we do business forever. Speaking at Gartner Symposium/ITxpo in Cannes, France, Gartner analysts today said that organisations need to respond to these changes and open up their organisations to a wider collection of business and social networks, to allow a more collaborative and innovative workplace.
IBM Accelerates Into Next Phase of Autonomic Computing.
ARMONK, NY - 08 Nov 2007: IBM (NYSE: IBM) today renewed its long-standing commitment to reducing IT complexity by announcing new offerings that support the next phase of Autonomic Computing and deliver on the promise of self-managing, self-healing computing systems -- a goal the company riveted its attention to more than six years ago.
Information Builders Adds Collaboration Tools for Operational Performance Management.
New York, NY - October 24, 2007 - Information Builders, the leader in production business intelligence (BI) systems, today announced the availability of WebFOCUS Performance Management Framework (PMF) Release 4. This operational performance management solution provides organizations with the communications, collaboration, analysis, and strategy tools necessary to gain complete visibility into their business and actively achieve better performance.
Distribution
First Canadian Title Becomes Exclusive Distributor of Dorado Mortgage Services Technology.
OAKVILLE, Ont., Oct. 31, 2007 – First Canadian Title, Canada's leading provider of title insurance, announced today that it is now an exclusive distributor of the Dorado Corporation's Enterprise Lending System, a premier lender origination solution for Canadian mortgage lenders and banks.
Big "I" Releases 2007 Best Practices Study.
WASHINGTON, D.C., Nov. 1, 2007-The Independent Insurance Agents & Brokers of America (IIABA or the Big "I") announced today the release of its annual Best Practices Study, which includes the new "Rule of 20" statistic which provides a quick means of calculating whether or not an agency creates value for its shareholders. The 2007 Best Practice Study names 195 new agencies in six agency revenue categories ranging from under $1.25 million to over $25 million.
Business of Insurance
Technology and Medical Advances Will Transform the Insurance Industry, LIMRA CEO Predicts.
Boston MA, Oct. 29, 2007 - Robert Kerzner, president and CEO of LIMRA International, opened the 91st LIMRA Annual Meeting highlighting the impact that medical and technological advances will have on product development, underwriting and distribution in the insurance industry.
New IBC head calls for improved regulation of insurance industry to better protect Canadians in ever-riskier world.
TORONTO, Nov. 14, 2007 - In the face of climate change, terrorism and other growing threats, consumers and governments cannot afford to take the insurance industry for granted and assume it will always be there to protect Canadians in times of need.
Consumer Information
Minimize your risk of identity theft: by TransUnion.
Identity theft is one of the nation's fastest-growing crimes. By managing your personal information carefully and sensibly, you can help guard against identity theft. We recommend a few simple precautions to keep your personal information safe.
U.S. bargain-hunting could be costly without travel insurance: Daily U.S. hospital stay can add up to $10,000.
RBC Insurance is reminding Canadians to think about travel insurance, even for last-minute, short getaways across the border.
Preparing Their Homes For Winter: Ipsos Reid for Icynene.
November 7, 2007, Toronto, ON - In preparation for the blustery winter months, a recent Ipsos Reid poll conducted on behalf of Icynene reveals that many Canadians are taking various steps to reduce their energy consumption to keep their heating bills in check.
Reference and Statistics
MIB Life Index Reports North American Life Insurance Activity off 1.1% in September.
Westwood, MA. - (October 31, 2007) North American application activity for individually underwritten life insurance was down slightly in September, off -1.1% year-over-year according to the MIB Life Index.
from Doug:
On the weekend my wife's aunt celebrated her eightieth birthday. As my wife's sisters were coming from distances, we took the opportunity to have a gathering of my wife's immediate family the evening before. At the birthday celebration it was great to spend time with relatives, friends and neighbours of the birthday lady. Such occasions are really special, but as the group grows, they seem to happen less frequently. Nonetheless, it was an opportunity to catch up on family news, from illness and celebrations to moves and an impending second tour to Afghanistan, jobs, hobbies, and so much more.