Issue 2010-41 -- October 12, 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.
Claims
The Co-operators new iPhone app put claim reporting in the palm of your hand.
GUELPH, ON, Oct 6 2010 - The Co-operators today launched Mobile Assist, an iPhone application that enables clients to submit home and auto insurance claims using their iPhone, iPad or iPod Touch. The free application, which can be downloaded from the Apple Store, provides a new option for clients to interact with their insurance company on their own terms.
Distribution
Compu-Quote announces release of Quoting for Individually Rated Commercial Automobiles.
Windsor, Ontario, September 21, 2010 - Compu-Quote is very proud to announce that beginning in October in Ontario, a quoting module for Individually Rated Commercial Automobile (IRCA) will be deployed via AutoRater to brokers with rates for a number of prominent insurers such as, Economical Mutual Insurance, Intact Insurance, Aviva Canada and Axa Insurance.
Managing Relationships and Customer Service
DALBAR: Majority of Investor Mutual Fund Statements Falling Behind.
Toronto, ON, September 22, 2010 - DALBAR recently released results from its much anticipated Trends and Best Practices in Mutual Fund Statements report. A total of 22 mutual fund statements were reviewed and analyzed for this year's study, representing one of the largest pools of statements DALBAR has evaluated since it launched this study over a decade ago.
Policy and Product Management
Wesfarmers Insurance and Subsidiary Lumley General Insurance New Zealand Select Guidewire for Policy Administration and Billing.
AUCKLAND, New Zealand and SAN MATEO, California, USA, September 30, 2010 - Wesfarmers Insurance, its underwriting subsidiary Lumley General Insurance (N.Z.) Limited (Lumley NZ), and Guidewire Software®, a leading provider of flexible core systems to general insurers, today announced that Lumley NZ has selected Guidewire Insurance Suite products: Guidewire PolicyCenter® and Guidewire BillingCenter®.
eBusiness and Technology
IBM Introduces New Cloud Collaboration Services.
ARMONK, N.Y., Oct. 5 2010 - IBM today introduced a new collaboration software suite in the Cloud that gives users one-click access to collaboration and social networking services for only $10 per month. The move aims to accelerate the adoption of Cloud collaboration services to increase productivity, collaboration and innovation in today's global enterprises.
The Market Dynamics of Document Management: Report Published by Celent.
Zurich, Switzerland, September 13, 2010 - In a new report, The Market Dynamics of Document Management, Celent explores insurer views on document management and identifies five trends that require specific attention. It analyzes the findings of an online survey launched by Celent in June 2010.
Operational Transformation Needed to Align Marketing and IT Groups as Companies Seek Competitive Advantage in Fast-Changing Digital World, Finds Study from CMO Council and Accenture.
PALO ALTO, Calif. - Oct. 4, 2010 - Operational change is required for corporate marketers and information technology (IT) professionals as they seek to "lead not lag" to embrace new digital marketing technologies and channels in the quest to acquire, maintain and enhance customer relationships and increase revenue, according to a new report from the CMO Council and Accenture.
Business of Insurance
RSA agrees to acquire GCAN Insurance Company.
TORONTO, Oct 4 2010 - RSA Canada, a leading property, automobile and commercial insurance group, today announced that it has entered into an agreement to purchase GCAN Insurance Company and its parent company, Glenstone Capital Incorporated, for approximately $420 million from the Ontario Teachers' Pension Plan Board.
Industrial Alliance Expands Product Offer to Car Dealers.
QUEBEC CITY, Oct 1, 2010 - Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance") announced today the signing of an agreement to acquire all the outstanding shares of privately-owned National Warranties MRWV Limited ("National Warranty"), located in Laval. The transaction was carried out through the Company's wholly-owned subsidiary IA Pacific ("IAP").
The Importance of Managing Risk: OSFI Annual Report 2009-2010.
Canada's economy, and its financial sector in particular, withstood the shocks of global financial turmoil better than many of its G-20 partners did. This country's more positive experience has been attributed to a range of factors, including better risk management by the institutions themselves, and strong regulation and supervision by OSFI.
Marketing and the Market Place
Sun Life Financial launches online tools and ad campaign to help Canadians create a plan that's right for them.
TORONTO, Oct. 5 2010 - If you could give your loved ones one piece of financial advice, what would it be? According to a Leger Marketing study, conducted on behalf of Sun Life Financial, one in five Canadians would advise loved ones to rely less on credit cards. Rounding out the top choices were: developing a financial plan (19 per cent), saving for retirement sooner (17 per cent) and paying down debt (15 per cent).
CFIB Business Barometer® National small business confidence in 'low gear'.
Toronto, October 6, 2010 - Optimism among Canada's small- and medium-sized business owners fell in September, continuing a declining trend since May. CFIB's Business Barometer® index fell more than a full point to 63.6, from August's mediocre level of 64.9.
eMarketer: Investing in Website Personalization to Boost Conversions.
OCTOBER 5, 2010 - Boosting conversion is top of mind for marketers, but according to August 2010 research from conversion management solutions firm, Maxymiser, companies may be focusing too narrowly to properly leverage all their efforts for maximum effectiveness.
Reference and Statistics
Kanetix: Ontario car insurance rates drive higher.
TORONTO, Oct 5, 2010 - Today, Kanetix® released the results of its quarterly review of the online auto insurance rates quoted in Ontario, Quebec and Alberta through its comparison service. Rates not only vary across Canada, but they also vary among the various insurance providers within each province.
Consumer Information
New Allstate Canada Poll on Distracted Driving Reveals 75% of All Canadian Drivers are Distracted When They Drive.
TORONTO, Oct 4 2010 - Nearly all Canadian drivers view distracted driving negatively, yet most Canadians (75 per cent) still engage in the behaviour, according to a new Allstate Canada poll conducted by Leger Marketing. Distracted driving consists of visual, manual or cognitive distractions.
The Co-operators: Five Simple Steps to a Safer Home.
GUELPH, ON, Oct 4 2010 - Fire kills an average of eight people a week in Canada, with residential fires accounting for 73 per cent of fatalities, according to Fire Prevention Canada. The Co-operators, insurer of 847,000 Canadian homes, is reminding Canadians to make proper use of smoke alarms in their homes, and to prepare and practise a family escape plan.
from Doug:
We started our Thanksgiving early with a visitation on Thursday evening and funeral or "celebration of life" for my wife's father on Friday afternoon. The bright Fall weather lifted spirits, and the six who spoke from friends and family generally made the remembrance a lighter one. Particularly from those who shared his work life, we heard a number of new anecdotes and stories. As the immediate family had converged from some distance, we ended the day with a family dinner. We enjoyed the time together, just as I am sure father-in-law would have wished it. It is hard to realize he really is gone, even in the physical sense; in our memories, he lives on.