Issue 2009-39 -- September 29, 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.
Policy and Product Management
Life reinsurance services company LOGiQ3 Inc has launched a dynamic new website.
22 September 2009 - It has been specifically redesigned to target the sectors of the industry that LOGiQ3 now occupies following a year of rapid growth and widening skills within the company:
ISO Introduces First Standard Green Building Upgrade Endorsement for Commercial Properties.
JERSEY CITY, N.J., September 14, 2009 - ISO announced today that it has filed the industry's first standard coverage option for commercial property owners interested in rebuilding damaged property with green alternatives.
eBusiness and Technology
New IBM Study Highlights Analytics As Top Priority For Today's CIO.
ARMONK, NY - 10 Sep 2009: A new global study of more than 2,500 Chief Information Officers (CIOs), released by IBM (NYSE: IBM) today, reveals that leveraging analytics to gain a competitive advantage and improve business decision-making is now the top priority for CIOs. More than four out of five (83 per cent) survey respondents identified business intelligence and analytics – the ability to see patterns in vast amounts of data and extract actionable insights – as the way they will enhance their organizations' competitiveness.
Business of Insurance
Sun Life Financial target date fund
assets surpass $1 billion.
TORONTO, Sept. 21 2009 - In just four
years of offering lifecycle target date funds to Canadian employers and
employees, the combined assets of target date funds available to group
plans administered by Sun Life Financial are now more than $1 billion.
OSFI Overview of the Property and Casualty Sector Consultation Findings.
Since 1998, OSFI has commissioned regular consultations with key stakeholders of financial institutions to assess its effectiveness and fulfill its commitment to continuous improvement.
Is the Crisis Easing? Q2 Insurance Industry Expectations and Strategies: Report Published by Celent.
In
a new report, Is the Crisis Easing? Update on Q2 Insurance Industry
Expectations and Strategies, Celent surveyed insurers and vendors to
ascertain their views of the credit crunch. The survey also looked into
the available levers for any business—budgets, staffing levels, and
strategies—and how these are being used.
Distribution
IBAC Announces Economical Insurance Group, Gore Mutual, Pembridge and Peace Hills remain a Full Partner of the Broker Identity Program.
Toronto, Summer 2009 – The Insurance Brokers Association of Canada (IBAC) is pleased to announce that The Economical Insurance Group, Gore Mutual Insurance Company, Pembridge Insurance Company and Peace Hills Insurance Company are maintaining their investment as a Full Partner of the Broker Identity Program for 2009.
The Economical Insurance Group partners with SCM Risk Management Services to become the first Insurer Development Partner of the RMS Insurance to Value Data Validation Service. - IBAO.
September 2009 - Waterloo, Ontario - The Economical Insurance Group® (TEIG®) is pleased to announce that it has become a development partner of the RMS ITV data validation and indexing solution.
Marketing and the Market Place
Online Ad Spending Slows but Grabs Market Share: eMarketer.
SEPTEMBER 21, 2009 - Print will lose even more US ad spending share than previously forecast but remain on top, while online is set to grab the second-largest slice of the ad spending pie this year, according to estimates by Myers Publishing.
Manulife Financial's Canadian Division captures 12 awards in international competition.
WATERLOO, ON, Sept. 24 2009 - Marketing and communications projects from across Manulife Financial's Canadian Division received a record number of awards in the 2009 Insurance and Financial Communicators Association (I.F.C.A.) international awards competition. The awards were distributed during the association's recent annual meeting in St. Louis, Missouri.
Claims
TIRF releases report: "An evaluation
of graduated driver licensing programs in North America".
The
Traffic Injury Research Foundation (TIRF) is pleased to release the
report, An evaluation of graduated driver licensing programs in North
America. This study analyses the relative fatality risks of 16-, 17-, 18-
and 19-year old drivers using a meta-analytic approach and was the result
of a collaborative effort between TIRF and the Transportation Research
Institute at Hasselt University in Belgium (IMOB).
9/11 and Insurance: The Eight Year Anniversary - Insurers Paid Out Nearly $40 Billion: I.I.I.
September 10, 2009 - The Insurance Information Institute (I.I.I.) has experts available to discuss the insurance implications of the September 11 terrorist attacks and the challenges insurers and their policyholders have faced eight years later.
Consumer Information
ICBC's top five tips to avoid trouble when importing a vehicle from the U.S.
August 19, 2009 - B.C. set a record for vehicles imported from the United States in 2008 - 42,922, more than double the number that crossed the border in 2006. But, in a year when the Canadian dollar also reached parity with its American counterpart, some B.C. drivers found great deals while others found their U.S. vehicle was anything but a bargain.
Auto and Traffic Safety Measures Have Reduced Injuries and Fatalities Says AIA.
WASHINGTON, DC, September 2, 2009 - A recent analysis of the latest government data by the American Insurance Association (AIA) shows that auto and traffic safety efforts over the past forty years have significantly reduced the number of accident-related injuries and fatalities.
Our People
The CLU Institute of Canada: Raises the bar on continuing education for financial services practitioners - Advocis.
September 24, 2009 - Toronto – The CLU Institute announced today that they have raised the bar for the quality of continuing education programs available to financial services practitioners in Canada. With the launch of the next generation in reviewing and approving continuing education programs, The CLU Institute's Accreditation Service will supply continuing education providers with a detailed report confirming the specific knowledge, skills, and abilities addressed by the program.
from Doug:
How time flies! We enjoyed this past weekend in resort country with other fellow grads and spouses from my University undergrad class - a 40th year reunion. Relative to many graduating years, we have had a strong class spirit, which tends to wax and wane somewhat. Every five years since graduation we have had a reunion, and it is a wonderful opportunity to see friends and find out what people are up to. It almost doesn't matter what the weather is like, we have a good time in any case. If there is a regret, it is missing the people who haven't returned and wondering about their life experiences.