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.
Marketing and the Market Place
The Co-operators vehicle fleet goes green to reduce global warming emissions.
GUELPH, ON, Nov. 27, 2007 - The Co-operators Group Ltd., the leading Canadian-owned, multi-product insurance company, today announced that it is reducing greenhouse gas emissions from its vehicle fleet. Greenhouse gas emissions are the leading cause of human-induced global warming.
New Canadians Outline Their Financial Goals For The Next Year: Ipsos Reid for RBC.
November 16, 2007, Toronto, ON - New Canadians appear to have the future wellbeing of their children at the top of their minds, with the results of an Ipsos Reid poll conducted on behalf of RBC revealing that despite the fact that seven in ten (70%) are still focusing on having enough money to pay for their daily expenses, nearly one half (46%) of new Canadians identify saving for their children's education as one of their financial goals over the next twelve months.
Gartner Says "Generation Virtual" Will Have a Profound Influence on Culture, Society and Business.
STAMFORD, Conn., November 13, 2007 - In 10 years, the largest influence on all purchases will be the virtual experience associated with them, according to Gartner, Inc. By 2015, more money will be spent marketing and selling to multiple anonymous online personas than marketing and selling offline. This transition in customer interaction is being driven by Generation Virtual, also known as "Generation V."
Canadian Online Ad Spending Heats Up: eMarketer.
NOVEMBER 21, 2007 - "Canada's online development has been a paradox," says Karin von Abrams, eMarketer senior analyst and author of the new report Canada Online Advertising. "The country has one of the best broadband infrastructures in the world and higher household Internet penetration than the United States."
Distribution
York Fire Takes Action in its Unwavering Commitment to the Independent Broker Distribution Channel.
MISSISSAUGA, November 29, 2007 - York Fire and Casualty Insurance Company (York Fire) has delivered another affirmation of its commitment to the independent insurance broker distribution system through the removal of its rates from direct writer Belair Insurance's quoting engine.
LIMRA Research Shows Paperless Enrollment Alternatives Growing in Popularity for Worksite.
Windsor, Conn., Nov. 26, 2007 - New research from LIMRA reveals most employers now offer a paperless enrollment method for at least some voluntary benefits. "While a traditional paper
option still exists, laptops are now the second most popular enrollment method for employee-pay-all products," said Ron Neyer, senior analyst for LIMRA International and project director of the study.
Business of Insurance
Great-West Lifeco subsidiary to sell its U.S. health care business.
WINNIPEG, Nov. 26, 2007, 2007 - Great-West Lifeco Inc. announced today that its subsidiary, U.S.-based Great-West Life & Annuity Insurance Company, has signed a definitive agreement to sell its health care business, Great-West Healthcare, to a subsidiary of CIGNA Corporation. The transaction has an enterprise value of US $2.25 billion and is expected to close during the first half of 2008, subject to regulatory and certain other approvals.
Strategic Risks Mount for Global Business: Report published by Ernst & Young.
New York, 8 November 2007 - The greatest strategic challenge facing leading global businesses in 2008 will continue to be regulatory and compliance risks, says a new report published by leading professional services provider Ernst & Young. These are closely followed by global financial shocks, which have already begun to have an impact with the recent global "credit crunch"; workforce and consumer aging, which will see a number of industries struggling to respond to dramatic shifts in demand and shortages in skilled labor; and the inability to capitalize on the rise of the emerging markets.
Managing Relationships and Customer Service
Manulife Financial signs health care product agreement with AccelMD.
WATERLOO, ON, Nov. 29, 2007 - Manulife Financial Corporation today announced that its Group Benefits business selected AccelMD, a leading supplier of healthcare services and solutions, to provide plan member health care services to Manulife Financial's group benefits clients. The agreement demonstrates Manulife Financial's ongoing commitment to offer employers a selection of innovative products supporting employee health and well-being, and enhancing workplace competitiveness.
Product Announcements
AXA Assistance launches Vengo: the first tailor-made Roadside Assistance program in Canada.
AXA Assistance Canada has created the first tailor-made Roadside Assistance program that allows customers experiencing roadside difficulties to obtain 24/7 towing services, battery boost, gas delivery, vehicle unlock, flat tire change, and pull-out winch.
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RBC Insurance Launches Simplified Critical Illness Insurance Option.
Mississauga, ON - November 22, 2007 - RBC Insurance today announced the release of its enhanced critical illness insurance product. The new product features a simplified design that is easier to understand and provides a solution to clients who are looking for an affordable alternative to more traditional critical illness insurance plans.
Reference and Statistics
Conning Research Projects Increased Operating Gains and Continued Surplus Growth For the Life Insurance Industry through 2009
Hartford, CT, November 12, 2007 - Conning Research and Consulting has released its latest forecast for the life-health insurance industry. This edition forecasts the life-health industry financial results for 2007 through 2009.
Our People
PricewaterhouseCoopers global report on the
future of work to 2020 reveals "millennials" expectations of work and careers.
NEW YORK, November 14, 2007 - A new global report from PricewaterhouseCoopers, "Managing Tomorrow's People: The Future of Work to 2020," illustrates how organizations need to adapt to the demands of a rapidly changing world and provides scenarios of future business models to help companies anticipate change and address how they will attract, retain, and motivate the people they will need in the future
Consumer Information
From Insuremytrip.ca: Buying Trip Cancellation coverage just got easier.
The long-standing guidelines that mandated buying Trip Cancellation insurance coverage within a requisite "purchase window," typically 48 to 72 hours from your initial trip deposit, have now been removed by many insurance carriers, allowing consumers to purchase right up to the day before departure.
The I.I.I. Offers Tips to Pet Owners on Various Insurance Options.
NEW YORK, November 8, 2007 - There are over a 150 million pets in the U.S., many of them considered a valued member of the family, and the cost of pet ownership is increasing—Americans spent $40 billion dollars on their pets in 2005 alone. But pet owners can now choose from a variety of insurance options in order to provide coverage for their beloved animals, according to the Insurance Information Institute (I.I.I.)
USA Holiday Shoppers Misinformed on Insurance Coverage for High-Tech Gifts: Survey for IIABA.
WASHINGTON, D.C., Nov. 20, 2007 - As the holiday shopping season unofficially kicks off this week, about 42 million American households plan to give or receive high-tech electronic products this year. However, about seven out of eight households don't fully understand key aspects of their insurance coverage for these purchases, according to a new national survey by Trusted Choice® and the Independent Insurance Agents & Brokers of America (the Big "I").
Insurance in the Community
Manulife Financial makes $250,000 donation to Hôpital Laval to purchase equipment that will revolutionize cardiology and pneumology procedures in Canada.
QUEBEC CITY, Nov. 23, 2007 - Healthcare in Quebec City received a huge boost today with the announcement by Manulife Financial of a $250,000 gift to Hôpital Laval to help them purchase a new state-of-the-art CT scanner, the first of its kind in Eastern Canada.
from Doug:
Sometimes some things just hang around too long. Spent some weekend time hanging a number of pictures, mostly on the second floor of our old Victorian house. Of course, putting up one new picture usually means two more have to be moved. But we did it, and they look good.
....hanging around too long? It was a whole year ago that we finished framing them all - how time flies!