Issue 2008-15 -- April 15, 2008
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.
Claims
When Disaster Strikes....TCR of Muskoka Strikes back!
January allows us to enjoy one of the most scenic months in Muskoka... snowshoeing, sledding and winter walks.... all interrupted suddenly by an unexpected spill of torrential rains and high winds – causing ruin along our rivers and roads.
Symbility Solutions Releases Version 3.0 of its Mobile Claims Software Package.
TORONTO, ONTARIO--(Marketwire - March 31, 2008) - Symbility Solutions Inc., a wholly-owned subsidiary of Automated Benefits Corp., announces its new software release, Version 3.0, of its mobile claims software application.
CGI Insurance Validation Service Identifies Uninsured, High-Risk Vehicles.
Toronto, Ontario, April 9, 2008 - CGI Group Inc., a leader in information technology and business process services and a leading provider of solutions to the insurance industry, today announced the launch of its Insurance Validation Service. This service helps both government agencies and policing organizations in Canada identify vehicles that do not have insurance.
Government of Canada to Harmonize Bumper Standard: Transport Canada.
OTTAWA - April 2, 2008 — The Government of Canada has proposed an amendment to the Motor Vehicle Safety Regulations (MVSR) to harmonize the Canadian bumper standard for passenger cars with similar safety standards from the United States and Europe.
Towers Perrin: Property/Casualty Claim Officers Cite Competitive Pressures as Biggest 2008 Challenge.
Stamford, CT, March 24, 2008 - Nine out of 10 property/casualty claim officers said increased competition, consolidation and convergence are among the leading challenges facing their industry in 2008, according to a recent Towers Perrin survey conducted by the firm's claim management practice.
Audatex Releases Industry Trends Publication for Vehicle Insurers and Collision Repairers.
SAN DIEGO, CA - April 3, 2008 - Solera Holdings, Inc., an integrated group of leading automotive claims solutions companies, today announced that its North American subsidiary, Audatex, has released a new, quarterly collision repair publication.
Distribution
Advisors Look To Dealers To Provide Best-Of-Breed Tools To Power Their Practice in Competitive Market: Univeris.
TORONTO, April 2, 2008 - "We're pleased to announce that Worldsource Financial Management Inc. is our first client to offer our latest tool for comprehensive portfolio analysis called PortfolioINSIGHTS™ to over 500 of their financial advisors," said Richard Binnendyk, EVP and VP, Client Services at Univeris.
Policy and Product Management
Latest Release of CGI's Ratabase® Paving The Road To Future Competitive Advantage In The Insurance Rating Space.
Andover, Massachusetts, April 10, 2008 - CGI Group, Inc., a global leader in information technology and business process services, today announced the v5.0 release of Ratabase®, introducing major product advancements and new features of its Product Builder (configuration tool) and Calculator (rating engine) components.
Business of Insurance
Aviva Canada announces its agreement to acquire the business of National Home Warranty Group of Companies.
TORONTO, ON, April 9, 2008 - Aviva Canada Inc. is pleased to announce that it has reached an agreement to acquire the business of National Home Warranty Group of Companies (National Home). The deal is expected to close within the next 90 days.
Corporate Responsibility for Innovation Is Highly Fragmented, Accenture Survey Shows.
NEW YORK; April 3, 2008 - Business strategy is driven largely by innovation, but corporate responsibility for the innovation process is highly fragmented, according to findings of a survey published today by Accenture.
Managing Relationships and Customer Service
Exclusive access to renowned research expert gives Manulife clients insights on plan member behaviour.
WATERLOO, ON, April 10, 2008 - Manulife Financial has announced an exclusive three-year agreement with behavioural finance expert Dr. Shlomo Benartzi. Dr. Benartzi, a professor at University of California, Los Angeles, and an internationally respected researcher to provide insights on retirement savings trends to Manulife's Canadian group savings clients.
Marketing and the Market Place
Aviva Canada Rebrands Pilot and Scottish & York Insurance Companies as Part of 'One Aviva' Strategy.
TORONTO, April 4, 2008 - Aviva Canada Inc., Canada's second largest insurance group, today announced the rebranding of its industry-leading subsidiary companies Pilot Insurance Company, and Scottish & York Insurance Co. Limited. Moving forward, the brands will be known as Aviva Pilot and Aviva Scottish & York.
Standard Life unveils new multi-million dollar advertising campaign across Canada.
MONTREAL, April 7, 2008 - Standard Life launched today its first multi-million dollar pan-Canadian advertising campaign since 2005. The campaign is part of an integrated long-term communications program to strengthen the awareness of the Company in Canada which also includes sponsorships, promotional and public relations activities.
Reference and Statistics
USA Property/Casualty Insurers' Full-Year 2007 Net Income and Overall Profitability Dip Due to Slippage in Underwriting Results.
JERSEY CITY, N.J., April 9, 2008 - The U.S. property/casualty insurance industry's net income after taxes slipped 5.8 percent to $61.9 billion in 2007 from $65.8 billion in 2006. The insurance industry's overall profitability as measured by its rate of return on average policyholders' surplus dipped to 12.3 percent in 2007 from 14.4 percent in 2006.
eBusiness and Technology
Progressive.com Ranks #1 on Keynote's Auto Insurance Carrier Scorecard.
MAYFIELD VILLAGE, Ohio - April 1, 2008 - Improved functionality, security, and quality and availability features helped progressive.com earn the #1 spot on Keynote® Systems' Q1 2008 Insurance Carrier Scorecard produced by Keynote Competitive Research, the industry analysis group of Keynote. Progressive has held the top spot for 12 of the last 13 scorecard rankings published since 2000.
Consumer Information
Melting snow: preventing water infiltration.
The Insurance Bureau of Canada is asking residents to take the necessary precautions to prevent possible damage caused by water infiltration, or sewer back-up or overflow.
ICBC recognizes 22 collision repair shops for outstanding customer service.
In 2007, 22 of ICBC's accredited express repair shops won AutocheX Premier Achiever Awards for excellence in customer satisfaction. The winners were recognized out of 9,000 entries across North America for achieving customer satisfaction ratings of 98.8 per cent or higher.
from Doug:
It is Spring - must be tax season. The joys of Spring flowers and early green grass is offset by the moans of tax agony. We have ours almost completed, but I have concluded that one needs a university degree in incometaxology in order to complete the process. Why is it that every second field on the general form requires a schedule and a quarter of those on a schedule require a sub-form. Even if I netfile, I am drowning in paper. For us though, the new perk of pension splitting has reduced the pain, somewhat.