Issue 2010-36 -- September 7, 2010
This newsletter is for members of the Canadian Insurance Industry and those who serve it. The newsletter is published weekly, and notes information about the use of the Internet and related technologies in the industry, insurance products and the marketplace. Some is international, where we feel it is relevant to Canada.
Product Announcements
Foresters introduces SMART Universal Life to provide flexible protection options.
TORONTO, August 24, 2010 - ForestersTM a life insurance provider committed to the well-being of families, now offers more flexibility with its latest life insurance product, SMART Universal Lifeš. As your family needs change, Foresters SMART Universal Life offers premium flexibility with adjustable payment limits as well as both protection and savings potential.
eBusiness and Technology
Gartner Highlights Four Myths Surrounding IT Self-Service .
STAMFORD, Conn., August 25, 2010 - Of all service desk contact volume, as much as 40 percent could be solved through IT self-service, but only 5 percent of issues actually are solved by IT self-service, according to Gartner, Inc. By 2015, the majority of IT organizations will have less than 10 percent of the contact volume managed by IT self-service.
Compuware Gomez Data Point: The Average Web User Transaction Involves Over Eight Different Hosts.
Gomez, the web performance division of Compuware Corporation (NASDAQ:CPWR), today announced a Gomez Data Point that provides a clear indication of the growth of cloud computing. Gomez monitored business-critical web user transactions from 3,000 companies across a variety of vertical markets including financial services, retail, travel, and media - on a single day.
Claims
Xactimate Express Helps Insurers Settle Small Claims: Xactware.
OREM, Utah-Aug. 17, 2010- Insurance professionals can now use Xactimate Express, the latest product innovation from Xactware, to settle small structural and contents claims by phone. Xactimate Express is an online application that lets desk adjusters efficiently gather loss information, create detailed estimates, and settle small claims over the phone.
Sedgwick CMS viaOne® Customizable Home Page Combines Advanced Dashboard Visualization, On-Demand Claim Metrics, Portal Convenience.
MEMPHIS, Tenn., Aug. 30, 2010 - Sedgwick Claims Management Services, Inc. (Sedgwick CMS) announces the successful implementation of the viaOne® customizable home page, an advanced data visualization and analytics resource for workers' compensation and liability claims management clients. The viaOne customizable home page moves beyond conventional dashboard functionality to offer Sedgwick CMS clients dynamic, on-demand reporting combined with sophisticated user-directed data analysis.
Policy and Product Management
Missouri Employers Mutual Insurance Extends Guidewire Software Selection to Include Policy Administration and Billing.
COLUMBIA, Missouri and SAN MATEO, California, August 31, 2010 - Missouri Employers Mutual Insurance (MEM), Missouri's largest workers' compensation insurer, and Guidewire Software®, a leading provider of flexible core systems to property/casualty insurers, today announced that MEM has selected Guidewire PolicyCenter® as its new policy administration and underwriting solution and Guidewire BillingCenter® as its new billing system.
Distribution
Taking away exemption not in best interest of anyone: Advocis.
Aug 24, 2010 - Toronto - The latest restriction imposed by the CRTC on advisors will only hurt Canadians was the conclusion made by Advocis, The Financial Advisors Association of Canada, after reviewing the CRTC's bulletin 2010-600. The bulletin "reinterprets" what is and is not unsolicited telecommunication by investment dealers, mutual fund dealers and financial advisors.
Group voluntary products continue to increase their share of total voluntary sales according to the annual Eastbridge sales study.
AVON, CONNECTICUT, USA (August 18, 2010) - New voluntary sales in 2009 were $5.397 billion. This number includes both group voluntary and individual voluntary (often called "worksite") sales. Over the last decade, the mix of sales between group and individual platforms has shifted from predominantly individual plans to group ones. In 2009, group sales increased their mix to 49 percent of the total sales, up from 48 percent in 2008.
Marketing and the Market Place
Insufficient Budgets, Shortage of Skills and Inadequate Tools Hinder Marketing Efforts, New Accenture Study Finds.
NEW YORK; Aug. 11, 2010 - Marketing executives responsible for driving corporate growth are being hampered in their efforts by insufficient budgets, skills shortages and inadequate tools, according to a new study by Accenture (NYSE: ACN). The study, "Onward and Up - How Marketers Are Refocusing the Front Office for Growth," also found that marketers today are increasingly challenged by their companies' customers who demand greater value, quality and service.
Mobile Content Soars Thanks to Device and Network Advances: eMarketer.
AUGUST 31, 2010 - Mobile phones have become a staple of daily life, so much so that most consumers can hardly imagine going through the day without one by their side. The reliance on mobile devices for just about everything makes mobile a platform that content publishers and marketers cannot afford to ignore.
Business of Insurance
Canadian businesses worried by regulation and compliance: Ernst & Young.
(Toronto - 5 August 2010) Regulation and compliance regained the number one spot on Ernst & Young's top 10 list of global business risks this year. The report reveals that Canadian and global organizations still face a variety of new and recurring threats across all sectors as the economy exits recession.
Conning Research: U.S. Insurance-Banking Combination Strategies Under Review.
(Hartford, CT) August 3, 2010 - Post-Glass-Steagall insurance-banking combination strategies had been under review by participants even before the financial crisis, and analysis of the performance of these combined entities during the crisis and recession will drive clearer focus on those strategies with the greatest likelihood of success, according to a new study by Conning Research & Consulting.
Consumer Information
Desjardins General Insurance Offers Fuel-Efficient Vehicle Owners a 10% Green Discount.
Lévis, Quebec, August 30, 2010 - Desjardins General Insurance, Quebec's number 1 insurer, is once again showing its strong commitment to sustainable development by launching the new Green Discount in Quebec. This discount allows fuel-efficient vehicle owners to reduce their automobile insurance premium by 10%.
Ontario Drivers in the Dark About Upcoming Auto Insurance Reforms: RSA.
TORONTO, Aug. 30 2010 - The vast majority of Ontario drivers are unaware of how legislation slated to take effect in the fall can allow them to customize their auto insurance policies. According to a recent Leger Marketing survey commissioned by RSA Canada, nearly 70 per cent of respondents in Ontario do not understand the upcoming reforms or how they will impact their auto insurance coverage.
Nova Scotians Prepare for Hurricane Earle - Insurance Brokers Association of Nova Scotia Advises Nova Scotians about the Importance of Being Prepared for Emergencies.
HALIFAX, Aug 31 2010 - The Insurance Brokers Association of Nova Scotia would like to remind Nova Scotians about the importance of being prepared for emergencies and in particular hurricanes. With hurricane season upon us it is imperative that everyone take steps to be ready in the event one touches upon Nova Scotia.
from Doug:
What disappointing weather carried us through the last big blow-out weekend of summer. Strange to see people in long pants and jackets on lawn chairs on Toronto's new Sugar Beach as we explored the waterfront for the first time in many years. We enjoyed visits from one son and a sister-in-law - the first overnight visitors in our new condo. Every bed was full the one night when both were here. We did a couple of stints hanging pictures and other wall-hangings over the weekend - a time consuming task that is. But every one is a step closer to completion. Now, back to work reality - the Fall season is upon us.