Issue 2009-07 -- February 17, 2009
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
SGI CANADA Provides Connectivity via Brovada Nexisys.
February 9, 2009 - Regina, SK and Saint John, NB - SGI CANADA announced today that Single Sign on and Inquiry has been made available to their brokerages by interfacing with Brovada Nexisys. This functionality is available for all their member companies including SGI CANADA, SGI CANADA Insurance Services Ltd., The Coachman Insurance Company and The Insurance Company of Prince Edward Island for both personal and commercial lines.
Lloyd's announces IBM as Exchange pilot provider.
13/01/2009 - Lloyd's, the world's leading specialist insurance market, today announced the selection of IBM to deliver the Lloyd's Exchange pilot. The Exchange will allow market participants to transfer risk information to each other using electronic messaging standards. This will remove the need to maintain multiple connections with other parties and suppliers in the market and ensure that one standard is enforced.
Claims
Accident Support Services International Ltd. Is proud to introduce the new: CROMS: Analytics Portal.
Accident Support Services International Ltd. (ASSI) originators of Collision Reporting Centres and CROMS, the Collision Reporting and Occurrence Management System has enhanced their suite of collision reporting and records management tools with the addition of the CROMS Analytics Portal!
CDRG Elite Restorers.
Ottawa, February 5th 2009 - In 2009, the Canadian Disaster Restoration Group is introducing a new generation of specialized restorers, the CDRG Elite Restorer is the first of its kind in the disaster restoration industry. It is one more way that CDRG is ensuring that quality candidates are delivered to our clients.
FINEOS Signs Partnership with National Electronic Attachment, Inc..
Dublin, Ireland, February 11, 2009 - FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and government, today announced a partnership agreement with National Electronic Attachment (NEA), a provider of market leading solutions for electronic claims attachments. The agreement will enable FINEOS to deliver a more complete solution to the payer community and also allow it to increase its electronic transactions capabilities.
Leading workers' compensation carrier teams with HCL Technologies and Guidewire Software for on-time and under budget project delivery.
COLOMBIA, Missouri and SAN MATEO, California, February 10, 2009 - Missouri Employers Mutual Insurance (MEM), Missouri's largest workers' compensation insurer, and Guidewire Software®, a leading global provider of solutions to property/casualty insurers, today announced that MEM has fully deployed Guidewire ClaimCenter® as its new claims management system. ClaimCenter is now in use by MEM's 95-person claims handling team and has fully replaced the company's internally built and maintained legacy claims system.
Policy and Product Management
Tying Risk To Geography Can Help Limit Exposure (Homesite Insurance Group Case Study from PBBI MapInfo).
Read how Homesite Insurance Group, a progressive homeowners insurance company that sells in 43 states, uses technology that pinpoints location to better understand risk, improve customer service and speed up processes. Rather than rely on ZIP codes to evaluate risk which change frequently, Homesite relies upon Group 1 Software's geocoding engine which converts an address to an exact latitude and longitude, providing a more more accurate assessment of risk.
Consumer Information
Can it happen here? Preventing a catastrophic wildfire in Canada: ICLR.
TORONTO, Feb. 11 2009 - Marysville is no more. The town of 800 people was destroyed by wildfire over the weekend, the deadliest fire in Australian history. The recent trend of large, uncontrolled fires includes unprecedented damage in the United States, Australia and a number of other countries. Will Canada be next? Are we prepared for the risk of a catastrophic wildland fire?
I.I.I. Provides Tips for Making Make Sure Your Business is Not Underinsured in a Weak Economy.
NEW YORK, February 3, 2009 - In today's tough economy, businesses face greater challenges than ever: Rents are rising; financing is harder to get; and vendors are being skittish about extending credit for inventory. There are also everyday risks that may be just as daunting, such as theft and fire and risks unique to each particular type of business. Therefore it is essential for businessowners to make sure they buy the right type and amount of insurance and update their policies annually to include improvements, major purchases and increased rebuilding costs as well as any liability risks, according to the Insurance Information Institute (I.I.I.).
eBusiness and Technology
Information Builders Positioned in Leaders Quadrant in New Business Intelligence: Report by Independent Analyst Firm.
New York, NY - January 22, 2009 - Information Builders, the independent leader in operational business intelligence (BI) systems today announced that Gartner has placed the company in the Leaders Quadrant of the "Magic Quadrant for Business Intelligence Platforms," report. BI software solution providers are evaluated based on completeness of vision and ability to execute. Gartner defines these evaluation criteria as a vendor's "ability and success in making their vision a market reality" and "their understanding of how market forces can be exploited to create value for customers and opportunity for themselves."
Celent Model Carrier 2009: Case Studies of Effective Technology Usage in Insurance: Report Published by Celent.
New York, NY, USA - January 29, 2009 - In a new report, Celent Model Carrier 2009: Case Studies of Effective Technology Usage in Insurance, Celent recognizes 18 insurance technology initiatives as "Model Carrier Components." The report also names Farmer Alliance Mutual Insurance the "Model Carrier of the Year." These best practices in the use of technology span key areas of the product and policyholder life cycle, including product definition, distribution, underwriting, policy administration, service, billing, claims, and document automation. The report also explains 10 IT best practices and nine measurable business results common to all of the Model Carrier Components.
Pitney Bowes Inc. Launches Pitney Bowes Business Insight.
Troy, NY - January 28, 2009 - Pitney Bowes Software Inc., a wholly-owned subsidiary of Pitney Bowes Inc. (NYSE:PBI), today announced Pitney Bowes Business Insight, a new business unit composed of Pitney Bowes MapInfo and Group 1 Software. As one organization, Pitney Bowes Business Insight provides all the integral location and communication intelligence offerings that companies need to secure an accurate view of their customers and effectively integrate it into daily business operations. Armed with this critical data analysis, companies are able to realize increased revenue, improved profitability and enhanced operational efficiency.
Our People
New LOMA Course Accelerates Key Insurance Learning.
ATLANTA - Feb. 10, 2009 - Global insurance educator LOMA has introduced a course targeted at employees new to the insurance industry who need quick understanding of how their company's products serve customers. The new course – Meeting Customer Needs with Insurance and Annuities (LOMA 281) – is part of LOMA's Need 2 Know series of learning and development programs.
Reference and Statistics
Economic Downturn May Push Percentage of Uninsured U.S. Motorists to All-Time High: IRC.
January 21, 2009 - MALVERN, Pa.- Approximately one in six drivers across the United States may be driving uninsured by 2010, according to a recent study from Insurance Research Council (IRC). Although the estimated percentage of uninsured motorists decreased nationally, from 14.9 percent in 2003 to 13.8 percent in 2007, the recent economic downturn is expected to trigger a sharp rise in the uninsured motorist rate.
MIB Life Index Reports North American Life Insurance Activity Off 4.5% in January.
Braintree, MA. - (February 10, 2009) North American application activity for individually underwritten life insurance was down -4.5% in January year-over-year, according to the MIB Life Indexsm. Application activity by month - January to December 2008 - was flat at +0.4%; the prior two years for this period have shown declines in the 3-4% range.
Business of Insurance
Insurance.com RateWatch for U.S. Car Insurance: 2008 Marks Year of Record Increases.
CLEVELAND, OH - January 21, 2009 - 2008 marked the biggest jump in car insurance rates in five years, with an annual increase of 8% over 2007, according to a new study by Insurance.com, the largest online auto insurance agency in the United States.
from Doug:
Last weekend, we took in a movie - an old one. Caught "Ivan The Terrible," a Russian film directed by Sergei Eisenstein. Shot in the early 40's, the two parts - a third was started but never completed - seemed like a propoganda piece meant to raise morale at that stage of WWII. It reminded us of 1920's silent films with the exaggerated actions and facial expressions and strong musical score. There were some good connections to our visit to Russia last summer and some of the museum pieces and historical sites we visited. Enjoyed it.