The Chronicle: Issue 2013-22, June 4, 2013
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What's Going Through The Intersection of Insurance and Technology?
Privacy For Rent or Lease
ORBiT Message to Brokers: Market Share/Profitability Are Yours to Lose |
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Technology
IBM launch of Watson cognitive computing assistant transforms customer engagement
Ushering in a new era of cognitive computing systems, IBM has unveiled the IBM Watson Engagement Advisor, a technology breakthrough that allows brands to crunch big data in record time to transform the way they engage clients in key functions such as customer service, marketing and sales.
Information Builders launches Cloud Hosting Services
Information Builders has announced the launch of its Cloud Hosting Services, a global platform-as-a-service which includes more than 10 data centers spanning every geographic region, enabling customers worldwide to combine the benefits of the company's customizable, scalable solutions with the flexibility afforded by cloud delivery models.
Consumer Information
IBC sets record straight on auto insurance prices in Ontario
The New Democratic Party's deliberate attempts to mislead consumers serves only to deflect attention from the real issue, which is reforming Ontario's auto insurance system. IBC sets the record straight.
Aviva Canada reminds drivers how to identify staged collisions
Aviva Canada is applauding the work of Toronto police after they laid charges against four individuals involved in allegedly staging an auto accident which resulted in significant claims costs to two automobile insurers.
IBC: Severe weather hitting Alberta harder than the rest of Canada
Alberta is taking leadership role in adaptation strategies as increasingly severe weather jeopardizes lives, property and livelihoods across the country, with Alberta getting hit harder than the rest of Canada.
Claims
SAS white paper: Bringing Predictive Analytics On Board
Predictive analytics is widely used in insurance pricing and underwriting applications. Media and industry information might lead to the assumption that most insurers are using predictive analytics for well-defined improvements in the claims arena, too. But after conducting research and interviews with insurance executives, The Gorman Group and SAS found this was not the case. They found that most insurers underutilize predictive analytics in claims – and fail to get the full value out of their claims data.
Symbility and Marshall & Swift/Boeckh collaborating on development of next-gen, cloud-based insurance apps
Symbility Solutions and Marshall & Swift/Boeckh have signed an agreement to cooperate in the development of building next-generation, cloud-based applications to serve the property and preservation estimating industry.
Distribution
WealthServ expands in-force life insurance data feeds
BlueSun has announced they are now integrated to eight of the major Canadian carriers for policy in-force feeds, making WealthServ the most connected Wealth Management software in Canada.
Policy Management
MajescoMastek introduces enhanced version of STG Policy Administration System
MajescoMastek has announced the introduction of an enhanced version of STG Policy Administration which provides supports for all major lines of P&C insurance business, ISO ERC content, enhanced reporting capabilities, and choice of on premise, cloud, or SaaS deployment.
GMC Software Customer Service Correspondence helps insurers resolve cases faster
GMC Software Technology has announced the general availability of its latest interactive solution for customer service center correspondence, a groundbreaking new application that provides the insurance industry with a common infrastructure for managing and instantly editing all types of customer service correspondence.
OneShield leads industry in keeping current with easy upgrades to Dragon platform
With easy updates to the Dragon platform, OneShield leads the industry in keeping customers current, enabling clients to take advantage of the latest capabilities and technology advancements to achieve true speed-to-market
Utica National Insurance Group selects MajescoMastek's STG Billing
MajescoMastek, the provider of core insurance systems and services to over 80 P&C and Life insurance carriers in North America, has announced that Utica National Insurance Group has selected MajescoMastek's STG Billing solution to replace its 30-year-old legacy billing system.
LOGiQ³ 2013 Industry Insight Paper: Life Reinsurance Claims
In 2012, LOGiQ3 sampled a select group of professional life reinsurers regarding their North American claims area. This 2013 Life Reinsurance Claims paper will provide insight on staffing levels required to support claims functions, and on administrative controls around claims processing and settlement. The paper is available with registration.
Business of Insurance
Symbility Solutions unveils Symbility Health Division
Symbility Solutions Inc., a global provider of cloud-based and smartphone/tablet-enabled claims technology for the property and casualty and health insurance industries, has announced that it has changed the name of its health technology division, previously known as Adjudicare, to Symbility Health Inc.
Industrial Alliance introduces Universal Life Insurance with adjustable premiums tied to long-term interest rates
Industrial Alliance Insurance and Financial Services Inc. has launched its new universal life insurance product, which allows clients to take advantage of premium reductions should long-term interest rates go up.