The Chronicle: Issue 2012-22, May 29, 2012
What's Going Through The Intersection of Insurance and Technology, an Insurance-Canada.ca Blog.
- Don't Crush Those Data, Hand Me the Pliers
Listening to the Day 2 Keynote at the recent ACORD/LOMA Systems Forum, we were reminded of a quote from Abraham Kaplan: "Give a small boy a hammer, and he will find that everything he encounters needs pounding." - Federation Frees Agents/Carriers From Password Jungle
If there is one consistent complaint among active Internet users, it is the requirement for multiple sign-ons and passwords for different sites. A group of independent agents, agency management system vendors, and insurance carriers in the US has come up with a solution that simplifies connectivity within their community. The concept is referred to as "ID Federation."
Business of Insurance
PwC Webcast (Recording): The Future of Insurance 2020.
Currently, there are many discussions between regulators, policy-makers, and industry associations regarding the development of global solvency requirements for life insurance companies, and these changes have the potential for wide-reaching impacts to the industry and the public.
Policy and Product Management
iter8 selected by CAA for statistical reporting solution.
May 2012: iter8, an insurance solutions software developer, is pleased to announce that Canadian Automobile Association South Central Ontario (CAA) has chosen to use regul8 as their statistical reporting solution for IBC and RSP reporting, addressing Automobile and Ontario Statutory Accident Benefits. CAA has a long-standing history as an innovative leader committed to meeting and exceeding the needs of Canada's motoring and travelling public.
Accenture Launches Cloud-Based New Business and Underwriting Software Application for Life Insurance.
ORLANDO; May 15, 2012 - Accenture has unveiled a cloud-based version of its award winning life insurance new business and underwriting software. Part of the Accenture Life Insurance Platform, Accenture's life and annuity insurance software suite, the software component is now available with a Software as a Service (SaaS) licensing option, and is designed to help life and annuity insurers drive growth and profitability and expand into new market segments, while helping reduce costs.
Celent: North American Insurance Software Deal Trends, Life/Annuity/Heath Edition.
May 14, 2012 - In a new report, North American Insurance Software Deal Trends 2012, Life/Annuity/Health Edition, Celent analyzes deal data provided by software vendors active in insurance in North America. A close look at 2010 and 2011 deals that fall into each metacategory and subcategory shows that, although 2011 showed signs of an improved economy, insurers continued their slow rate of investment in external insurance software.
Celent: North American Insurance Software Deal Trends, Property/Casualty Edition.
May 14, 2012 - In a new report, North American Insurance Software Deal Trends 2012, Property/Casualty Edition, Celent analyzes deal data provided by software vendors active in insurance in North America. A close look at 2010 and 2011 deals that fall into each metacategory and subcategory shows that, although 2011 showed signs of an improved economy, insurers continued their slow rate of investment in external software.
Social Business
IBM Study: If You Don't Have a Social CEO, You're Going to be Less Competitive.
5/22/2012 - The list of the world's CEOs regularly includes celebrities, billionaires, big egos, risk takers, and failures. What it does not include are social media experts; but that's about to change. When IBM conducted its study of 1709 CEOs around the world, they found only 16% of them participating in social media. But their analysis shows that the percentage will likely grow to 57% within 5 years.
Claims
IBC: Stiff Sentence sends a tough message on Staged Collisions.
TORONTO, May 24, 2012 - Three and a half years in a Federal Penitentiary and free-standing restitution order for $375,000 is the sentence for Uthayakanthan Thirunavukkarasu, also known as Max or Mano, who earlier this year entered a plea of guilty to instructing the commission of offences for a criminal organization, proceeds of crime, criminal negligence causing bodily harm and fraud charges in connection with a staged collision ring, known as Project 92, across the Greater Toronto Area. He was personally associated with more than a dozen staged collisions.
Technology
CSIO Welcomes Sarina Visram as Manager, Member Relations and Communications.
Toronto, 24 may 2012 -- The Centre for Study of Insurance Operations (CSIO) is pleased to announce the appointment of Sarina Visram to the position of Manager, Member Relations and Communications. In her new role, Sarina will be responsible for enhancing CSIO's membership experience through the development and implementation of programs and activities designed to improve membership engagement and promote CSIO's leading edge technology standards and solutions.
Gartner Highlights 2012 Cool Vendors Shaping Business and Consumer Strategies.
STAMFORD, Conn., May 9, 2012 - Cloud, social, mobile and information are the four key IT forces - alongside the continued impact of consumerization - that are combining to produce a "nexus" in which "Cool Vendors" will operate, according to Gartner, Inc. Gartner's 2012 Cool Vendors research series identifies the innovative companies, products and services that will shape business and consumer strategies in the future.
Managing Relationships and Customer Service
Allianz Global Assistance Canada named 2012 Call Centre of the Year.
May 22, 2012 - Kitchener, ON - Allianz Global Assistance Canada, a leading travel insurance and assistance provider, received top honours at the Global Call Centre of the Year Awards earlier this month in Seattle, WA. Allianz Global Assistance Canada earned both the Gold Award for the 2012 Global Call Centre of the Year in the small-to medium call centre category (75 seats or less), and the Silver Award in the Quality category.
MajescoMastek Provides STG Billing Solution to Nautilus Insurance Group.
May 23, 2012 - NEW YORK -- MajescoMastek, the insurance industry's enterprise application specialists and the U.S. subsidiary of global technology solutions provider Mastek Limited, today announced that MajescoMastek will provide its STG Billing solution to Nautilus Insurance Group, LLC, a W. R. Berkley Corporation member company and specialist in providing excess and surplus (E&S) commercial property and casualty insurance coverage.
Marketing and the Market Place
eMarketer: Smartphones Important, but Still Dramatically Trail PC Usage in Canada.
MAY 24, 2012 - In May 2012, Canadian telecommunications firm Rogers released the "Innovation Report: 2012 Trend Watch", which indicated that 79% of internet users in Canada agreed with the statement "The internet allows me to connect to people and information in ways that make my life better", and a majority also expect the internet's role in their lives to increase over the next five years.
Consumer Information
CAA provides consumers with tool to calculate the costs of driving.
April 30, 2012 - OTTAWA - The Canadian Automobile Association (CAA) has released an updated version of its Driving Costs interactive guide that provides consumers with a comprehensive look at the price of owning a vehicle. The 2012 Driving Costs brochure explains the overall costs of vehicle ownership, including fuel, maintenance, and depreciation.
CAMH - Mental Health Centres Applaud First Ever Mental Health Strategy for Canada.
May 8, 2012 (Toronto) - Canada's first national mental health strategy was welcomed by the province's specialty mental health centres: Centre for Addiction and Mental Health (CAMH), Ontario Shores Centre for Mental Health Sciences (Ontario Shores), The Royal, and Waypoint Centre for Mental Health Care.
State Farm® paid out more than $109 million in dog bite claims in 2011.
Aurora, Ontario. May 17, 2012. - Each year almost five million people are bitten or attacked by dogs in Canada and the United States. According to the Centers for Disease Control and Prevention more than half of them are children. The Humane Society of Canada estimates someone suffers a dog bite in Canada every 60 seconds making dog bites a serious public health problem.