The Chronicle: Issue 2014-01, January 7, 2014
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What's Going Through The Intersection of Insurance and Technology?
Imperatives for the Next-Gen Insurer
2014 in the Headlights
2013: Analytics, a Soupçon of Engagement, and Disruption |
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12th Annual Insurance-Canada.ca Technology Conference Welcome and thank-you to our 2014 conference sponsors:
CGI as a Silver Sponsor. |
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Technology
Ford reveals automated Fusion hybrid research vehicle, teams up with State Farm & University of Michigan
Taking the next step in its Blueprint for Mobility, Ford – in conjunction with the University of Michigan and State Farm – has revealed a Ford Fusion Hybrid automated research vehicle that will be used to make progress on future automated driving and other advanced technologies.
Gartner: Business Intelligence and Analytics will remain top focus for CIOs through 2017
The CIO focus on business intelligence (BI) and analytics looks set to continue through 2017, according to Gartner, Inc. Gartner said that the benefits of fact-based decision-making are clear to business managers in a broad range of disciplines, including: marketing, sales, supply chain management, manufacturing, engineering, risk management, finance and HR.
MARCON Mobility Newsletter: SuperHub and connecting mobility
SuperHub (SUstainable and Persuasive Human Users moBility in future cities) is a multi-year project co-financed by the European Commission that involves 20 partners from a variety of fields, including transit and other transport agencies, telecommunications, academia and local government. Simply put, SuperHub is an open-source platform and mobile app able to help a user plan customized urban routes by combining all mobility offers in real-time.
Distribution
ICTC 2014: Brokers and technology – Where am I going? How do I go there?
Technology is ubiquitous. We use it in our personal lives as well as in our business activities; our customers are using it – and demanding more from us. Direct writers using it for marketing, sales and service; other brokers are using it, looking for the competitive edge, marketing to our customers. Our company partners are providing new services and delivering them in new ways, offering us an edge. How can we keep up with it all? Attend ICTC 2014 and explore the state of the technology nation.
Keal Technology is officially CSIO XML eDocs certified
Keal Technology announces that they are now CSIO eDocs Certified. This national program demonstrates that Keal's Broker Management System (BMS), sigXP, which is a leader in utilizing the CSIO (Centre for Study of Insurance Operations) XML eDoc standards, has now achieved CSIO Certification. This means sigXP's integration solution can be uniformly applied to all insurance companies who follow the CSIO XML standards for eDocs across Canada.
Business of Insurance
Western Financial Group completes acquisition of Falkins Insurance Group
Western Financial Group has announced that it has acquired full ownership of Falkins Insurance Group Limited, the largest general insurance brokerage in the Kootenays. Western first announced that it had entered into a strategic partnership with Falkins by acquiring a 20% ownership stake in May 2005. Western increased its ownership position to 40% in August 2010 with the opportunity to acquire full ownership of Falkins by December 31, 2013. As part of the acquisition, all 11 Falkins branches and more than 100 employees will become a part of Western.
Guy Carpenter: January 1st 2014 Renewals Bring Downward Pressure on Pricing
Guy Carpenter & Company, LLC, reports that reinsurance rates-on-line fell at the January 1, 2014 renewal in nearly all classes and regions. According to Guy Carpenter's 2014 global renewal report, strong balance sheets, relatively low loss experiences and an unprecedented influx of convergence capital spurred competition and innovation at renewal. These factors led in turn to surplus capacity across most business segments as competition spilled beyond property catastrophe lines.
Preparing for Autonomous (Self-Drive) Vehicles in Canada
Ontario is leading the way down the preparation path to self-driving (SDC) or autonomous vehicles. With the growing number of manufacturer announcements of both objectives and incremental steps towards this goal, there has been rising interest in the implications. Ontario has now taken the first step, recognized in a statement issued by the provincial Ministry of Transportation.
Consumer Information
TitlePLUS title insurance reduces base premiums
The TitlePLUS insurance program is pleased to announce base premiums for residential resale purchases will be reduced by 25 per cent beginning January 6, 2014. The base premium reduction is applicable in Alberta, British Columbia, Manitoba, New Brunswick, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan, and the Yukon.
IBC releases annual list of top 10 most frequently stolen vehicles
Insurance Bureau of Canada has released its annual list of the top 10 most frequently stolen vehicles in Canada and reported on new trends in organized auto theft. The 2000 Honda Civic SiR 2DR sits at the top for the second year in a row and high-end SUVs and Ford trucks hold most other spots.
Waggoner Insurance and Protext Mobility partner to create DriveAlert Canada
Protext Mobility, a solutions developer of innovative and trusted applications to the mobile communications market, has announced it has entered into a partnership and distribution agreement with Waggoner Insurance in which DriveAlert-Canada has been created to market and sell the Company's latest DriveAlert product offering, a text blocking and distracted driving solution utilizing OBD-II technology, aimed at curbing the distracted driving epidemic.
Kanetix launches Blue Cross travel insurance quotations
Kanetix.ca is excited to announce the addition of Blue Cross travel insurance quote comparisons for Ontario and Quebec for the first time with the addition of Blue Cross as its new partner for travel insurance quotations.
Policy Management
Guidewire Software announces new versions of Data Management and Business Intelligence products
Guidewire Software, Inc., a provider of software products to Property/Casualty insurers, has announced the availability of Guidewire DataHub™ 8 and Guidewire InfoCenter™ 8, the latest releases of Guidewire's data management and business intelligence (BI) products for P/C insurers. Together, DataHub and InfoCenter help P/C insurers accelerate legacy system replacement; capture the value and insight unlocked through core system transformation, and support enterprise-wide data management and BI strategies.
Marketing
Manulife Financial: Canadian investor confidence still near pre-financial crisis levels
Despite the continued market recovery, Canadian investors remain wary and continue to take a conservative approach to investment and savings vehicles as evidenced by a one-point dip (to +21) in the latest Manulife Financial Investor Sentiment Index. Nowhere is investor skepticism more apparent than in Quebec where the Index sits at +8 – only three points higher than pre-economic crisis levels in 2008 (+5).
In The Community
Economical Insurance and Junior Achievement renew partnership to help young Canadians prepare for success
Junior Achievement of Canada and Economical Insurance are pleased to announce their renewed partnership focused on encouraging Grade 7, 8 and 9 students to stay in school and acquire the knowledge and skills needed for their future success.