The Chronicle: Issue 2012-48, November 27, 2012
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What's Going Through The Intersection of Insurance and Technology?
Climate Change, Insurance, Data, and Technology
Zen and the Art of Data Ownership |
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Technology
Rising IT security incidents show Canadian businesses at risk
With 21% of Canadian businesses surveyed seeing more IT security incidents in the last year, companies here need to fundamentally change the way they're approaching this kind of risk, Ernst & Young says in a new report.
Business of Insurance
Swiss Re sigma study examines progress of insurance accounting reform
Swiss Re's latest sigma research publication “Insurance accounting reform: a glass half empty or half full?” takes a fresh look at the long-running debate over upgrading and harmonising insurance accounting practices. A key conclusion is that the proposed accounting reforms can contribute to more meaningful financial reporting in insurance. But they probably need to be complemented with additional metrics that clearly and concisely communicate insurers' underlying economic value to their stakeholders.
IBC endorses Ontario's Anti-Fraud Task Force Report
The Insurance Bureau of Canada is pleased with the release of the Anti-Fraud Task Force Report and calls on the Ontario government to implement the recommendations contained in the report. “This marks a significant step in the fight against fraud, raising awareness and sharing best practices for fraud prevention,” says Ralph Palumbo, IBC's Vice President for Ontario. The report provides crucial recommendations in a number of areas.
Claims
Zurich Canada teams with Verisk Crime Analytics to combat cargo and heavy equipment crime
Zurich Canada announced today that they are working with Verisk Crime Analytics divisions CargoNet and the National Equipment Register – two North American data sharing platforms that combat cargo and heavy equipment theft. Verisk Crime Analytics is a unit of Verisk Analytics.
Distribution
Architecture matters in today's mobile solutions environment – illustrate inc
Microsoft just launched its new Windows 8 operating system, along with its new foray into the tablet arena, the Microsoft Surface. With the ever-changing pace of new device and OS introductions, it can be difficult to keep up. So what's the answer? HTML5? What about 5 years from now – will HTML5 still be the answer, or will new technologies dictate a new approach to developing tomorrow's solutions? And how do you, the customer, ensure that you have the right answer not only for today's solutions, but for years to come?
Winds of change blowing in UK auto insurance distribution
A recent report by the Chartered Insurance Institute (CII) and Ernst & Young looked at the UK auto insurance marketplace, the rather dismal situation it is in at the moment and some of the challenges it faces as it tried to return to some semblance of normalcy.
Consumer Information
ICBC Marks National Day of Remembrance for Road Crash Victims
November 21 is the National Day of Remembrance for Road Crash Victims. This week, in support of the families who have lost their loved ones on our roads, ICBC, road safety partners and volunteers across the province are honouring victims and encouraging drivers to reflect on how their own driving behaviours can help keep themselves and everyone on our roads safe.
LOGiQ3: The Universal Law of “Cause and Effect” in Underwriting
Underwriting is much like the Universal Law of Cause and Effect. Cause: you smoke. Effect: you pay a higher premium for life insurance because you are a higher mortality risk. Cause: you have high blood pressure. Effect: you pay a higher premium for life insurance because you are at higher risk of dying from a stroke or a heart attack.
eMarketer: gaming consoles still dominate online video streaming
Gaming consoles have long been key to connected-TV viewing, as the most common devices used to channel over-the-top services to regular television sets. Though native internet-connected TVs are becoming more common, gaming consoles are still the way to connect for most online video viewers who watch on their TVs.
FSNA announces setting of first closing date for acquisition of Advantage
Franchise Services Of North America Inc. wishes to provide an update on transaction timing further to its previous announcements relating to its agreement to acquire Simply Wheelz, LLC, a Delaware limited liability company and the owner of the Advantage Rent-A-Car brand, and certain other divested assets from Hertz Global Holdings, Inc.
Joe's Corner:
It's been an interesting few days. I got to thinking that maybe the group that wanted to “run the bulls” down Bay St. may have had better success by getting into the “maim and gore” of Black Friday — it would have had more participants, I think. A strange way to kick off the season of Peace and Joy.
Speaking of kick-off, Toronto finally got a team who won a major sports championship (Rock fans please remain calm, that's not an insult) and it only took 20 years since Joe hit the big one. A championship gained and a footballer mayor lost? Makes you wonder . . . .