The Chronicle: Issue 2015-24, June 16, 2015
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What's Going Through The Intersection of Insurance and Technology?
Emerging Auto Threats and Opportunities: In Conversation with Catherine Kargas
Data and Analytics: We Have Met the Enemy, and ... |
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Business of Insurance
J.D. Power report: Home insurance industry not meeting Gen Y customer service expectations
As Gen Y customers are increasingly becoming first-time home owners and homeowners insurance buyers in Canada, not only are they more critical of their service interactions with their insurers, satisfaction among these customers is also declining at a faster rate than in any other generational group, according to the J.D. Power 2015 Canadian Home Insurance Study.
Technology
Accenture launches advanced analytics applications for financial services industry
Accenture is launching seven advanced analytics applications for the financial services industry, including banking and insurance companies, to simplify analytics decision-making by placing insight at users' fingertips. Configured through the Accenture Analytics Applications Platform, the new advanced analytics applications are designed to help financial services companies improve customer experience and retention, increase sales, simplify the credit scoring process, and reduce costs associated with claims fraud.
Policy Management
Accenture launches integrated solution to help insurers improve multi-channel cross-selling
Accenture has launched Accenture Insurance Customer Insights Solution, an integrated solution available in the cloud or on-premise, that gives insurers access to new distribution models, with management across multiple channels, including social media.
Distribution
Keal Technology announces plans to release Keal Mobile App for brokers
Keal Technology, leaders in broker innovation, have announced plans to release their Keal Mobile application. This application will interact with Keal's Broker (SIG) and Commercial (COM) Management solutions on the commercial level allowing brokers to create and manage tasks, view active commercial clients and prospects, as well as their submissions and policies. Brokers will be able to create and update transactions, create new opportunities, schedule follow ups and much more.
Aligned Insurance acquires Precept Insurance and Risk Management Inc.
ALIGNED Insurance Inc., a leading commercial insurance brokerage, has announced it has acquired the shares of Waterloo based brokerage Precept Insurance and Risk Management Inc. The transaction was completed June 1, 2015 and the terms of the acquisition were not disclosed.
Guidewire extends digital portfolio with new Gateway Portal
At the IASA 2015 Conference, Guidewire Software, a provider of software products to Property/Casualty insurers, announced the addition of Guidewire Gateway Portal for Agents™ to its Mobile and Portals product line. Insurer interaction with customers, brokers, agents, and vendors where and when it's most convenient – online, on their mobile devices, or through the call center, is today's operational necessity. Consumers expect a seamless experience across channels to support digital sales, service, and claims capabilities for stakeholders outside the corporate intranet. Agents and brokers are no different.
Applied Systems launches Applied PerformanceManagement 2015
Applied Systems has announced the release of Applied PerformanceManagement 2015 to U.S. and Canadian insurance agencies and brokerages. With the release of Applied PerformanceManagement 2015, insurance executives gain greater visibility into operational performance based on their organizational structure, clients and geographies. Access to this broader range of information allows executives to more easily identify new business, active business, attrition, renewals or net growth based on all employees, clients or lines of business associated to an agency or brokerages' key performance metrics.
Marketing
eMarketer: Mobile millennials turn away from PCs for online access
Time spent with desktop and laptop computers is falling fast among millennial mobile device users in Canada. App Promo, BrandSpark and Tapped Mobile surveyed consumers in Canada ages 18 to 29 who owned a smartphone or tablet, and in 2015, they reported spending 46% of their online time on PCs. That was the first time PCs' share of total online time fell below half.
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Do you know what these companies all have in common?
You may have guessed. They all used technology to their benefit – and won 2015 Insurance-Canada.ca Technology Awards. Join the fun – and reap the reward. Nominate now for a 2016 ICTA – we are ready for you. Complete details. |
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Consumer Information
HealthQuotes.ca: How to save money on employee benefits
Employee benefits are a great way to give valuable workers health, dental, prescription drug and vision care coverage. Most employees appreciate these benefits, and take them into account when considering either a new job or staying put at a current position. But what options are available to businesses when the premiums reach a point where the company can no longer afford to pay for these benefits? Keep in mind that group health insurance plans are pro-rated, which means that premiums increase in direct proportion to the amount of claims that employees submit. The more claims that are paid out by the insurance company, the higher the premiums go up when it comes time to renew the health insurance plan. So is there anything a company can do to reduce their group insurance costs? The answer to this is “yes!”
Floodinsurance.ca: Independent brokers launch Alberta's top flood resource site
Floodinsurance.ca is Alberta's #1 overland water insurance resource. This online, independent broker offers consumers' choices in overland water coverage, especially as more insurance companies in Alberta begin offering coverage. Floodinsurance.ca is the only online resource with a blog dedicated to flood related topics, flood watch advisories, quick quote options and an online support chat feature where residents can quickly learn what coverage option best suits their needs.
CLHIA welcomes new national financial literacy strategy
The Canadian life and health insurance industry congratulates Minister of State (Finance) Kevin Sorenson and Financial Literacy Leader Jane Rooney on the launch of a national financial literacy strategy. The life and health insurance industry strongly supports the view that basic financial literacy is an essential life skill and is proud to have been part of the process in developing the strategy. The strategy was driven by recommendations developed by the national Financial Literacy Task Force that was chaired by Donald Stewart, former CEO of Sun Life Financial.
Guarantee helps customers protect their homes with new Mobile App
For years, GUARANTEE GOLD® has been committed to minimizing the impact of water-related losses through innovative products and services. Mitigating water damage is an important part of the GUARANTEE GOLD strategy, which includes enhanced coverage for water mitigation devices, staying one step ahead of water damage with our GOLD I.D. program, proactive initiatives to address ice damming concerns, and offering market-leading loss control services through our appraisal division's water exposure reports. The GUARANTEE GOLD Mobile App is an extension of our strategy to help customers plan ahead and pro-actively take safety measures to protect their homes and belongings.
Ingle International launches new Discover Canada: Super Visa and Visitors to Canada Travel Insurance
Ingle International, a travel health company providing customized insurance solutions, launches Discover Canada: Super Visa and Visitors to Canada Travel Insurance, a new travel plan that is available to the over 17 million visitors to Canada each year. Ingle International has identified a gap in the travel insurance market that leaves visitors to Canada and Super Visa applicants vulnerable to the high costs of health care in Canada.
In The Community
Allstate supports veterans through Military Employment Transition program
Allstate Insurance Company of Canada is very pleased to announce it has made a commitment to hiring Canadian Veterans through the Military Employment Transition Program established by Canada Company. The Canada Company MET program was created to encourage and help Canada's private sector to assist former military members and Veterans with their transition to civilian life. Allstate is pleased and proud to join the initiative and through the partnership, will begin to actively recruit from the military community for various positions in the company across the country.