The Chronicle: Issue 2015-23, June 9, 2015
|
What's Going Through The Intersection of Insurance and Technology?
Employment, Insurance, Technology: Can We Only Choose Two?
Threats and Opportunities in a Totally Connected World |
|
Technology
Xpertdoc & e-SignLive by Silanis: Crossing the Digital Frontier in Insurance Customer Service
“We want relevant information, real-time interactions, quick answers and we want it online, when and where we need it.” This has quickly become the mantra of the modern-day consumer. This request, which inches closer to a demand, is evolving rapidly along with the devices that are increasingly part of their lives. In the digital era, investment in customer-facing technologies is becoming an urgent need for insurance companies seeking to create a positive experience and improve customer engagement. But the insurance industry can be slow to abandon paper-driven, discontinuous processes that require manual intervention, inconvenient handoffs and delays. In order for insurers to differentiate themselves and compete in this shifting landscape, they must invest in a fully automated and integrated digital customer experience that matches how consumers live and interact with other businesses.
Marsh report: “Dawning of the Drones: The Evolving Risk Of Unmanned Aerial Systems”
The projected growth of the unmanned aerial systems (UAS) sector is nothing short of phenomenal, and perhaps unsurprisingly the potential economic benefits are considered to be vast. Commercially, a number of large corporations are already planning to use UASs, which are also known as drones, to enhance their services; they are also performing valuable humanitarian operations. The advantages of using this type of technology are numerous: hugely increased flight durations, expeditious deployment, low operating costs, and ultimate agility when flying in dangerous or hard-to-access locations.
TEI/IET Mobility Newsletter: Electric Vehicles Will be Really Competitive – Soon
Tremendous advances are being made today in both autonomous vehicle capabilities and in the electric vehicle field. The two together may well be the end-game in the not-so-distant future.
Claims
InEdge introduces Auto Repair Claims Analytics
Insurance Analytics leader InEdge has announced the release of its Auto Repair Claims Analytics™ (ARCA) solution. This new turn-key solution brings analytics to three key processes in automobile claims servicing: 1) appraisals, 2) body shop management, 3) parts and labor. It is a cost-effective solution designed for Claims Managers that derives value by leveraging informational assets already in the insurer's possession. It integrates the transactional data from two distinct systems: the body shop management and claims management data systems.
Marketing
eMarketer: Small Businesses' social ROI struggles won't stop
Small businesses remain so-so about social media, and recent research suggests issues with return on investment (ROI) are one factor limiting small businesses' usage of such platforms. In a January 2015 study by Social Media Examiner, just over four in 10 small and medium-sized business (SMB) marketers worldwide said they were able to measure the ROI of their social media activities.
Distribution
Keal Consumer Access Point connects brokers to their consumers
Keal Technology, leaders in broker innovation, has launched its Keal CAP (Consumer Access Point). This web-based, broker branded solution allows their brokers to offer their existing policyholders website self-service.
CSIO releases white paper, video series on Search Engine Optimization
The Centre for Study of Insurance Operations (CSIO) is pleased to formally announce the full release of its suite of educational resources for brokers on search engine optimization (SEO). Featuring a four-part video series and an in-depth white paper, this valuable addition to CSIO's Advisory Services will support brokers in improving their online presence, attracting new business and improving their competitive position.
Peel Mutual Insurance introduces a CSIO XML eDocs Solution
Peel Mutual Insurance Company is pleased to announce the launch of our CSIO XML eDocs solution for personal lines brokers. Designed to save brokers time byoffering easy download of policy declaration documents to all supported broker management system's(BMS), eDocs builds on Peel's commitment to provide the ease of doing business technology that our Broker Partners require.
LUSSIER and Dale Parizeau Morris Mackenzie merger gives rise to Lussier Dale Parizeau
Introducing Lussier Dale Parizeau, insurance brokerage and financial services firm. Now Quebec's largest private and independent financial services firm, Lussier Dale Parizeau inherits the strength and experience of these two century-old firms, true pillars of the industry. Inspired by the values of excellence and quality of service of its predecessors, Lussier Dale Parizeau will continue to operate with the same standards of thoroughness and professionalism as before for its clients, without any change to their insurance coverage, which remain in effect under the same terms and conditions.
James Richardson & Sons to acquire Wynward Insurance Group
James Richardson & Sons, Limited has announced that it has entered into a definitive agreement with Parrish & Heimbecker, Paterson Global Foods and Cargill Ltd. to acquire their ownership interest in Wynward Insurance Group. The transaction will provide JRSL and Richardson International with 100% ownership of Wynward. Previous to the transaction, Richardson International, a wholly-owned subsidiary of JRSL, owned 55% of Wynward and was the Company's largest shareholder.
Hub International acquires shares of Ontario-based Gamble Insurance
Hub International Limited, a leading global insurance brokerage, has announced that it has acquired the shares of Gamble & Associates Insurance Limited. Terms of the acquisition were not disclosed. Gamble will become part of the operations of Hub International Ontario (Hub Ontario). With this latest acquisition, Hub Ontario establishes a large footprint in Southwestern Ontario, doubles its offices in Ontario to 18 locations and increases its headcount to more than 650 employees throughout the province.
Consumer Information
Parachute: Cost of preventable injuries continues to grow
New data from The Cost of Injury in Canada Report shows the financial costs of preventable injuries are rising, while the human costs are catastrophic. Using the latest national and provincial data available (2010), the Report shows $27 billion is lost to the economy annually, surpassing heart and stroke disease costs. Injury is the number one killer of Canadians aged 1-44, with 43 people dying every day. The loss of life is equivalent to a jumbo jet crashing every ten days, with no survivors.
Aviva Canada offers overland water protection in Ontario and Alberta
Aviva Canada is excited to offer overland water protection for residential property owners and tenants through our network of independent insurance brokers. Our goal is to make Overland Water Protection accessible and affordable for the vast majority of our customers. The coverage – offered as an add-on to personal property insurance policies that have sewer back-up protection in place – can now be purchased through brokers in Ontario and Alberta, and will be offered in other provinces throughout the rest of 2015.
IBC: Are you prepared for hail season?
The beginning of June marks the beginning of hail season, which generally runs until September in the Prairie provinces. Severe storms with hail, lightning, strong winds and heavy rain are unpredictable and can strike quickly with devastating results. Insurance Bureau of Canada reminds residents to be aware and take action to prepare for potentially damaging storms. Car owners and homeowners should check with their insurance providers before a severe storm strikes to ensure that their policies are up to date and serve their particular needs.
HSB study: two-thirds of businesses experienced hacking incidents in the last year
Almost 70 percent of businesses experienced at least one hacking incident in the last year, according to a study of business risk managers released today by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re. Yet more than half (55 percent) don't believe their company is dedicating enough money or trained and experienced personnel to combat the latest hacking techniques.
Jobs and Careers
IBC: Sylvie Paquette appointed Chair of the Board
Insurance Bureau of Canada is pleased to announce the election, by its Board of Directors, of Sylvie Paquette as Chair. Ms. Paquette is President and Chief Operating Officer of Desjardins General Insurance Group (DGIG). Ms. Paquette has served on the IBC Board since 2010. Kenn Lalonde, Executive Vice President, Insurance, TD Bank Group and President and CEO, TD Insurance, has been elected as IBC's Deputy Chair.
In The Community
Economical supports Canadian Cancer Society's Relay For Life
Economical Insurance is proud to once again support the Canadian Cancer Society in 2015 with sponsorship of 10 Relay For Life events in Ontario and Quebec. Today, more than 60 per cent of Canadians diagnosed with cancer will survive compared with only 25 per cent in the 1940s when the Canadian Cancer Society first began funding research. Tremendous progress has been made against the disease but overall cancer cases are increasing because of Canada's growing and aging population. Much more work needs to be done. To fund this work, the Canadian Cancer Society hosts Relay For Life events across the country. People can participate in these events at any age or fitness level. Every step taken at Relay For Life helps fund promising cancer research, community support services and other important work so that fewer Canadians are touched by the disease.
The Co-operators recognized as one of the top 50 socially responsible corporations in Canada
For the third consecutive year The Co-operators has been listed among the 50 Most Socially Responsible Corporations in Canada. The companies on the list, compiled by global sustainability analysis and research firm Sustainalytics for Maclean's, rank atop their respective industries based on their strong performance across a broad range of environmental, social and governance (ESG) indicators.