Issue 2008-23 -- June 10, 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
MSB Program Certifies Claim Adjuster IntegriClaim Competence.
NEW BERLIN, WI - JUNE 3, 2008 - MSB announces it now offers an optional certification program in conjunction with its popular training classes for IntegriClaim(R), a leading property claim estimating solution. The certification program adds a new dimension to validating the competence, efficiency, and effectiveness of IntegriClaim users and also gives carriers and adjustment firms greater confidence in their adjusters' skills and abilities.
Manitoba Public Insurance selects FINEOS for Automated Claims Management - Configurability and Superior Case Management cited as Key Factors.
Dublin, Ireland, June 4, 2008 - FINEOS Corporation, aglobal providerof innovative enterprise software solutions for insurance, bancassurance, and government, today announced that Manitoba Public Insurance of Canada has selected FINEOS Claims® to manage claims for bodily injury resulting from road accidents. The award of the contract followed an extensive tender procedure.
Xactware and Quality Research and Replacement Services Announce New Contents Service.
June 4, 2008 - Orem, Utah & Anaheim, California-Xactware Solutions, Inc. and Quality Research and Replacement Services (QRR) recently announced a contents service that pairs Xactware's powerful contents estimating and assignment network with QRR's comprehensive research and replacement expertise.
Policy and Product Management
SunGard's iWorks Launches New Investment Management Solution.
Atlanta, GA - Jun 06, 2008 - A new tier of SunGard's iWorks Investments solution suite was released today. SunGard's iWorks Investment Management is an investment accounting solution that helps insurance and other financial services companies meet their investment accounting, reporting and decision support responsibilities.
Distribution
ING Insurance strengthens commitment to commercial data exchange with launch of download capability to Policy Works.
Thursday, May 29, 2008 - Toronto - ING Insurance Company of Canada and Policy Works Inc. are pleased to announce the launch of the next phase in commercial data exchange with the release of a new integrated download functionality which allows brokers to download quotations from ING Insurance's web quoting tool directly into Policy Works.
Advocis Applauds Decision on Advisor Incorporation.
The New Brunswick Securities Commission (NBSC) has approved in principle Advocis' position that a corporation controlled by an individual registered advisor may receive payments of commissions and fees from the advisor's registered dealer.
Internet Captures Market Share from Traditional Agents in Purchase of Auto Insurance Policies: USA Study by comScore.
RESTON, VA, May 12, 2008 - comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released results of The 2008 comScore Online Automobile Insurance Report, which provides insights into the online auto insurance market and the behaviors and attitudes of auto insurance consumers.
New Eastbridge Report Examines Role of Medical Brokers in Voluntary Market.
AVON, CONNECTICUT, USA (May 27, 2008) - The majority of medical brokers(94 percent) already sell at least some voluntary products. But most only do so occasionally or when requested by a group client. In fact, 12 percent get less than one percent of their income from voluntary.
Marketing and the Market Place
DMTI Spatial Releases White Paper Outlining Why 6 Digit Postal Code Boundaries are the New Marketing Geography.
Markham, ON - May 27, 2008 - DMTI Spatial (DMTI), a leading provider of enterprise location intelligence solutions, further demonstrates the value of the next generation of Canadian postal geography found in the Platinum Postal Suite™ (PPS) in a new White Paper detailing the results of an independent research study performed by York University.
eBusiness and Technology
ACORD Receives Donation of Insurance Information Model from Prima Solutions.
LAS VEGAS, NV - May 13, 2008 - LAS VEGAS, NV - May 13, 2008 - Prima Solutions, an insurance industry software solution provider and ACORD, the nonprofit insurance standards organization, announced today that Prima Solutions is contributing its insurance information model to ACORD.
Business of Insurance
MMC Says Preparation Key to Recovery in Hurricane's Aftermath.
NEW YORK, May 29, 2008—Science and technology are converging with risk management to help insurers negotiate the current hurricane season, according to Ryan Ogaard, Global Practice Leader of Instrat®, Guy Carpenter & Company, LLC's risk and financial modeling services group. No longer is reinsurance an annual consideration. It's now possible to use short-term hurricane forecasts – as few as 10 days out – to design coverage targeting a specific area of the Florida coastline, for example.
Conning Research: Global Insurance Industry Acquisitions Driven by Non-U.S. Insurers.
(Hartford, CT) May 28, 2008 - U.S. insurers concentrated their M&A activities domestically in 2007, especially in the property-casualty and health insurance and managed care sectors, and were much less active on the global stage, according to a new study by Conning Research and Consulting.
Product Announcements
Standard Life adds a Whole Life insurance product to complement its wealth and estate planning solutions.
MONTREAL, June 2, 2008 - The Standard Life Assurance Company of Canada today announced the addition of a Whole Life insurance product to its portfolio of wealth management solutions. Standard Life's Whole Life product is available immediately through independent financial advisors across Canada.
Manulife launches first group retirement savings version in Canada of Guaranteed Minimum Withdrawal Benefit product.
WATERLOO, ON, June 5 2008 - Manulife Financial has announced its newest innovation for group retirement savings clients with the launch of Group IncomePlus.
Consumer Information
AIG Travel Guard offers tips to ensure safe and fun vacations.
Whether you're flying across the pond or taking a road trip to the States, stress-free travelling requires some advance planning. Be prepared for the unexpected by packing good travel insurance.
Wide variation in potentially preventable hospitalizations for chronic conditions across Canada: CIHI.
May 29, 2008 - Hospitalization rates vary across the country for seven chronic conditions that could potentially be managed or treated in the community, known as ambulatory care sensitive conditions (ACSC). A new report from the Canadian Institute for Health Information (CIHI) and Statistics Canada measures ACSC admission rates in health regions across Canada and explores the factors that contribute to higher or lower rates.
Adapting to the effects of climate change: What homeowners can do to protect their homes and communities.
TORONTO, June 6 - Insurance Bureau of Canada (IBC) wants to help Canadians adapt to the effects of climate change. With severe weather events happening more frequently, homeowners need to take steps now to better protect themselves and their communities.
from Doug:
Following a long Spring of below normal temperatures, Patrick Vice noted during a conference call on Friday that we had just gone from April on Thursday to August on Friday - in the Toronto area, the 33C that day set a new record.
The musician student we are billeting has disappeared each day following breakfast to return after we have turned in for the night. With only two weeks to take advantage of this unique opportunity, she is determined to make the most of every minute. With that attitude, for us being a billeting host is easy!