The Chronicle: Issue 2015-39, September 29, 2015
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What's Going Through The Intersection of Insurance and Technology?
Latest Stakeholder in Major Systems Projects? The Consumer |
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Business of Insurance
Zurich whitepaper on managing risk with drones: Hovering Over Opportunities
Earlier generations of drones were like early computers; large, rare, expensive and reserved for exclusive use by the military, mainly due to the specialized skills required to operate them. Now, in the same way that improved technology continues to make computers and cell phones smaller, cheaper and easier to use, the use of drones has expanded massively in the civil and commercial sectors thanks to similar advances in technology and accessibility. As these devices become increasingly embedded into the fabric of everyday life, applications for their use will continue to grow, spurred on by increasingly sophisticated functionality and the imagination of those who would make use of them.
ACE introduces Global Cyber Facility to meet growing demand for cyber liability insurance
As the number of highly publicized cyber attacks has increased in recent years, the demand for cyber security insurance has escalated rapidly, with industry analysts forecasting a growth of 150 percent in the next five years. However, large corporations are finding it increasingly difficult to secure the cyber security insurance protection they need. To address this growing need, ACE Group has announced the launch of ACE's Global Cyber Facility, which goes beyond standard risk transfer by incorporating a comprehensive risk management solution into a single policy purchase.
Munich Re drives innovation
The digitalisation of production processes, transport, logistics and big data is changing societies and economies across the world. These developments are also changing the risk landscape and insurers' business models. Munich Re is playing an active role in managing these changes with innovative insurance solutions, expanded services, and new approaches to business. In conjunction with its customers and cooperation partners, Munich Re concentrates a lot of effort into analysing new or changed risks, and developing customised insurance solutions.
Technology
Xpertdoc achieves highest security compliance certification with ISO/IEC 27001
Xpertdoc Technologies Inc., a Microsoft Gold Partner and leader in document generation and customer communications solutions, announces it has achieved ISO/IEC 27001 certification – a globally recognized standard of information security best practices. This places Xpertdoc among an elite rank of corporations who have passed the ISO/IEC 27001 rigorous certification requirements. The international standard provides guidance, methodology and processes to attain compliance in data protection, privacy and IT governance, allowing companies to stay ahead of major trends in secured computing and commerce.
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A Faculty of Insurance Experts is Assembling: What Would You Like To Learn About? What threats from technology do you see around the corner? What exciting use of technology in P&C Insurance have you deployed? Planning is underway for Insurance-Canada.ca's thought-leading industry events in 2016. We welcome your topic suggestions for:
Submit your ideas, or any questions, to sessions@insurance-canada.ca. |
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Distribution
Keal and CSSI partner to deliver direct rating solution
Keal Technology (Keal) and Custom Software Solutions Inc (CSSI), both leaders in broker innovation, are pleased to announce today a partnership to bring automobile, property and commercial rates to brokers faster, with greater accuracy and more economical using a combination of new and traditional rating services.
illustrate inc: American Fidelity International (Bermuda) selects OPUS platform to deliver illustrations for life products
illustrate inc, a leading provider of life insurance and annuity sales automation solutions in North America, has announced that American Fidelity International (Bermuda), Ltd. (AFIBL) has selected illustrate's OPUS platform to deliver life insurance illustrations. This strategic choice will allow AFIBL to provide a comprehensive suite of illustration capabilities across all their product lines, including: term, universal life, critical illness and disability income. OPUS operates across Web, desktop and mobile platforms to deliver a solution that today's producer demands.
Unica Insurance obtains CSIO certification for Commercial Lines eDocs
The Centre for Study of Insurance Operations (CSIO) is pleased to announce that Unica Insurance has obtained CSIO Certification for Commercial Lines eDocs. As a means of making business easier for commercial customers and helping brokers retain their commanding commercial market share of over 90%, CSIO has expanded its eDocs certification program to specifically certify eDocs for commercial lines. CSIO Certification is available to member companies and vendors.
Marketing
LIMRA: When affluent consumers engage in retirement planning, trust in their advisors increases
New research from the LIMRA Secure Retirement Institute reveals that when affluent consumers are deeply engaged in personal retirement planning, 6 in 10 say that their trust in their advisors increases. The study also found that 60 percent of affluent consumers believe that their advisors achieve better results than what they could achieve on their own.
Foresters announces plans to change its brand name to Foresters Financial
Foresters™ CEO Tony Garcia has announced plans for the Foresters family of companies to be known collectively by one brand – Foresters Financial – in Canada, the United States and the United Kingdom. Foresters New York-based subsidiary First Investors kicked off the transition with a total rebrand to Foresters Financial for its New York-based head office and more than 40 sales offices. Foresters is an international financial services provider with over three million clients and members in Canada, the United States and the United Kingdom. The Foresters family of companies provides life insurance, savings, retirement and investment solutions that help families achieve their financial goals and make a lasting difference in their lives and communities.