The Chronicle: Issue 2013-38, October 1, 2013
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What's Going Through The Intersection of Insurance and Technology?
Insurance Brokers Reset Directions on the Road to Telematics/UBI |
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Telematics
Aite Group report: usage-based insurance preparing for takeoff in North America, Europe, and South Africa
With South Africa as the model for telematics that fuel usage-based insurance (UBI) programs, North America and Europe are set to go mainstream as regulatory barriers fall, hardware costs drop, and consumers warm to having their driving behavior monitored in exchange for premium discounts. Auto insurers now view UBI as a major opportunity to more accurately price their books of auto insurance business and radically change the way they interact with their customers. Slow movers that take a “wait and see” approach to UBI will be at a competitive disadvantage, yet challenges remain even among those at the forefront of this emerging market.
Quindell announces ingenie expansion into Canada
Quindell Solutions announces that ingenie Ltd will expand its operations through the formation of two new subsidiaries, ingenie (UK) Ltd, and ingenie Canada Ltd. ingenie UK will extend ingenie's existing telematics insurance offering, which to date has been aimed solely at drivers in the UK under 25 years of age. Now, prospective customers who are over 25 in the UK, and drivers of all ages across Canada will also be able to benefit from ingenie telematics insurance.
Business of Insurance
Intergovernmental Panel on Climate Change declares human influence on climate is clear
It is extremely likely that human influence has been the dominant cause of the observed warming since the mid-20th century, concludes a new assessment by the Intergovernmental Panel on Climate Change (IPCC). The evidence for this has grown, thanks to more and better observations, an improved understanding of the climate system response and improved climate models.
Consumer Information
Frank Cowan Company offers new cyber insurance protection for municipalities and specialty organizations
Frank Cowan Company, a leader in providing specialized insurance programs, has launched a new Cyber Risk Insurance product to address the specific technology, cyber-related and data risks for a variety of specialized sectors, including Canadian municipalities.
Ingle International offers five tips for avoiding credit card hassles while travelling
The loss, theft or misuse of your credit card would cause needless inconvenience during what should be a carefree vacation. And the farther you stray from home, the worse the hassle factor could be. The good news is that Canada's federally regulated financial institutions have made a public commitment to protect those who carry a card for personal use. Fifty dollars is the most you should have to pay if a thief or fraud artist goes on a spending spree. Consumer protection policies may vary by company, however, and consumers are advised to check for details with their own card issuers.
Sun Life: Forty per cent of Canadians face financial hardship after serious health event
Canadians who have had a serious health event or diagnosis are feeling the pinch, with 40 per cent reporting financial hardship as a result. More than half (53 per cent) of 45- to 54-year-olds are struggling to make ends meet after a major health incident, according to the fourth annual Sun Life Canadian Health Index, conducted by Ipsos Reid.
Aviva Canada partners with Kal Tire to ensure a safer drive for customers
With winter driving just around the corner for many parts of the country, Aviva Canada, one of the country's leading providers of home, auto, recreational vehicle, group and business insurance, is emphasizing the importance of vehicle safety through a new promotional partnership with Kal Tire, Canada's largest independent tire dealer.
Claims
Quindell Portfolio Plc announces acquisition of PT Health
Quindell Portfolio Plc, the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being Insurance, Telecommunications and their related sectors is pleased to announce a 26% investment and option to acquire PT Healthcare Solutions Corp, a leading provider of healthcare and rehabilitation services with over 100 physiotherapy and rehabilitation clinics across Canada.
Human Resources and Jobs
Aviva appoints Maurice Tulloch as CEO of Aviva UK & Ireland General Insurance
Aviva has announced that it has appointed Maurice Tulloch as CEO of Aviva UK & Ireland General Insurance. Maurice is currently CEO of Aviva Canada. UK & Ireland GI and Canada are Aviva's largest general insurance businesses. Both are core to Aviva's future success, being two of Aviva's key cash flow generators alongside UK Life and Aviva France. As CEO of UK & Ireland GI, Maurice will work closely with David Barral, the CEO of Aviva's UK Life business, to capitalise on Aviva's position as the leading insurer in the UK market.
In The Community
CAA South Central Ontario reteams with Trees Ontario to reforest Toronto Zoo
The pandas must be proud! Trees Ontario and CAA South Central Ontario recently teamed up for the second year to help ‘green’ the Toronto Zoo. The CAA SCO employee-exclusive event brought together more than 60 participants, mostly CAA SCO associates and their families, to take part in a half-day project which resulted in the planting of 285 trees and helped spread awareness about the benefits of tree-planting and green urban spaces.