The Chronicle: Issue 2015-32, August 11, 2015
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What's Going Through The Intersection of Insurance and Technology?
Supporting Data-First Enterprises: A Prelude to Distinctive Analytics |
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Business of Insurance
Accenture report: Billions in premiums up for grabs due to declining customer loyalty and perceived product commoditization
Hundreds of billions of dollars in life insurance and property & casualty insurance premiums will be up for grabs globally as a result of declining customer loyalty and the perceived commoditization of products, according to a new report from Accenture.
Distribution
Brovada announces the successful Implementation of BrovadaOne for Portal Connectivity by Crouse and Associates
Brovada Technologies, Industry leader in Connecting the Insurance World, announces today that Crouse and Associates has launched BrovadaOne to provide portal submission automation. BrovadaOne will empower Crouse and Associates underwriters with dramatically increased efficiency by extracting data from their Vertafore AIM™ Management System and populating Carrier Portals, virtually eliminating the need to rekey data.
Consumer Information
Kanetix SaaS partners with OMIA to deliver leading online auto quoting solutions
Now, consumers who want the benefits of a community-based, local auto insurance company, can also enjoy online quoting. OMIA, the trade association for more than 40 mutual insurance companies across Ontario, and Kanetix SaaS have partnered to deliver leading-edge auto quoting solutions for Ontario consumers. OMIA manages their member companies' overarching brand, Ontario Mutuals. In creating an on-line quoting solution for auto insurance shoppers, the goal was to make getting a quote from a local mutual as easy as possible and then moving interested buyers onto our agents and brokers for the expertise required to get the right policy. It's a fast, convenient way for consumers to independently obtain mutual auto insurance quotes on their own schedule from a smartphone, tablet, or desktop.
SGI CANADA: Sewer back up prevention an essential home renovation
More than ever before, homeowners are improving their basements, but many are forgetting the most important piece – sewer back up prevention. Only 1.6% of SGI CANADA customers today have a professionally installed back water valve to protect their homes when wet weather hits. That's why SGI CANADA is encouraging all homeowners renovating their basement to have a professionally installed back water valve on the mainline of their home.
Technology
Northbridge Insurance obtains CSIO certification for eDelivery
The Centre for Study of Insurance Operations is pleased to announce Northbridge Insurance® as the first insurer to obtain CSIO Certification for eDelivery. The CSIO eDelivery solution allows broker and insurer members to leverage CSIOnet and eDocs to deliver personal lines policy documents electronically to insureds through Canada Post's epost™ service.
eMarketer: Why companies use innovation centers
To gain insight into emerging trends and outpace the competition, firms are putting innovation centers in place. According to July 2015 research by Altimeter Group and Capgemini, nearly four in 10 companies polled worldwide had an innovation center. Mobility – anything related to mobile technologies and apps – was the most popular area of focus, cited by nearly two-thirds of companies with innovation centers.
Gartner says personal cloud is growing in importance
Personal cloud is growing in importance as it shapes how employees operate across their digital lives, according to Gartner, Inc. End-user computing (EUC) and digital workplace managers responsible for building the digital workplace will be increasingly challenged as the personal cloud continues to evolve and intersect with IT initiatives. The next wave of the personal cloud will be shaped by two key trends: increased access to personal information and increased intelligence applied to the user experience and against the user's information.
Towers Watson releases new data validation software tool
Global professional services company Towers Watson has introduced Towers Watson DataValidator, a data validation and transformation software solution that helps insurers use their data more efficiently across financial modeling analytics, pricing applications and risk management. DataValidator helps insurers meet evolving regulatory data quality requirements against today's increasingly challenging timetables. The solution provides a quick and comprehensive data quality assessment while providing thorough audit trails necessary for mandatory governance and audit readiness.
Accenture acquires FusionX, bolstering ability to help clients respond to cyber threats
Accenture has acquired FusionX, a Washington, DC-based cyber security company that has a fundamentally differentiated approach to cyber attack simulation, threat modeling, cyber investigations and security risk advisory services. The acquisition will further strengthen Accenture's Security practice and help clients accurately assess their ability to protect against, detect and, where necessary, respond to sophisticated and sustained cyber attacks.