The Chronicle: Issue 2014-10, March 11, 2014

What's Going Through The Intersection of Insurance and Technology?

Cloud, Agility, Innovation: Is This the New Holy Triangle?
IT professionals are familiar with the sacred triangle of projects: Scope, Resources, Time. The idea is that, as in a right triangle, the scope of a project will drive the requirements for resources assigned and the time allocated for the activities. It seems that there is another triangle forming in the sky, suggesting that the size of cloud applications and services is proportionate to the amount of agility and innovation that an organization is seeking.

BMS Vendors bring their A-games to #ICTC2014
The challenge from Randy Carroll, CEO of the Insurance Brokers Association of Ontario, was simple: “We want the brokers to see the BMS vendors' best products for the present and their plans for the future. Tell them to bring their A-Games.” With the active cooperation of Randy and his team at IBAO, we think we've met the challenge. IBAO agreed to structure head-to-head presentations from the vendors. Insurance-Canada.ca contacted the leading BMS suppliers in Ontario, and three answered: Applied Systems, Custom Software Solutions, and Keal Technology. We'd like to know, what do you want to hear from the vendors?

The Intersection: Insurance-Canada.ca Blog
The Intersection
an Insurance-Canada.ca Blog

12th Annual Insurance-Canada.ca P&C Insurance Technology Conference

Welcome and thank-you to our 2014 conference sponsors:

HP Exstream as a Bronze Sponsor.

Brokers: RIBO has accredited ICTC 2014 by session, with up to 8 hours in the Management category and up to 1 hour in the Technical category.

Only 4 business days remain to register for this year's P&C Technology Conference.
Book and save on your hotel room – special rate extended until March 13.

11th Annual Insurance-Canada.ca Technology Conference
ICTC 2014
“Re-energize, Refocus, Realign”
March 17-18, 2014

Business of Insurance

Great-West Life to provide federal pooled registered pension plans
The Office of the Superintendent of Financial Institutions (OSFI) has issued a license to Great-West Life through its subsidiary, London Life, to administer pooled registered pension plans (PRPPs). Great-West Life believes PRPPs will help improve the adequacy of retirement income for working Canadians by providing low-risk and low-cost employer-sponsored retirement plan options for small- to medium-sized businesses.

Insurance Bureau of Canada reacts to Alberta Budget
Insurance Bureau of Canada supports the news from the Alberta Budget that the government is earmarking funds for flood mitigation and recovery programs in the province over the next three years. The Alberta Government's budget calls for funding for future flood mitigation projects including grants for erosion control, flood hazard mapping, mitigation related to water and wastewater infrastructure, protecting “high priority” areas susceptible to future flood damage and an additional sum for flood recovery.

Telematics

IMS and Sprint team to offer premium turnkey insurance telematics solution
Sprint has announced that IMS UBI Intelligence is now available through its Integrated Insurance Solution portfolio for auto insurance customers, provided by Intelligent Mechatronic Systems, a leading connected car company.

Claims

Audatex Canada powers Speedy Collision's continued growth
Speedy Collision, founded in 2008 – Western Canada's express collision centre – has continued its growth powered by Audatex Canada. As Speedy Collision adds new shops in Saskatchewan, having recently expanded to Red Deer and Leduc, Alberta, it turned to Audatex Canada ULC, a wholly-owned subsidiary of Solera Holdings, Inc., the leading global claims solutions provider serving the automotive industry.

Consumer Information

IBC: recognize and report car insurance fraud
As Fraud Prevention Month rolls out across the country in March, Insurance Bureau of Canada urges the public to help crack down on the staged car accident business by reporting suspected insurance fraud. All Canadians pay for car insurance fraud. In Ontario alone, such fraud adds an estimated 10 figures to the total sum of annual insurance premiums and health care, emergency services and court costs.

IBC supports Ontario legislation on auto insurance reforms
Insurance Bureau of Canada is encouraged by the Ontario government's announcement that it will introduce legislation to reduce auto insurance costs, fight fraud and protect consumers. "We're pleased that the government is fulfilling its promise to introduce changes to reduce costs and uncertainty in the auto insurance system," said Ralph Palumbo, IBC Vice-President, Ontario.

In The Community

The Co-operators partners with Habitat for Humanity on salvage donation program
A newly announced partnership will see The Co-operators donate salvageable material from damaged homes to Habitat for Humanity's ReStores in Canada annually. Not only will the ReClaim program provide a financial boost for local Habitat for Humanity affiliates that operate ReStores, it will also divert waste from landfills.

Western Financial Group donates to cover spring activity fees after floods
High River families were the recipients of a surprise donation on Saturday, March 8 when they visited the town's annual spring registration day to sign their children up for sports and other activities. The Western Communities Foundation, the charitable arm of Western Financial Group (Western), and its parent company, Desjardins Group covered the registration fees for one activity for each child, to ensure that any remaining financial burden caused by the flood would not prohibit children from participating in activities that they love.

Subscribe here or view past issues.