Issue 2002-01: January 8, 2002
This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.
Managing Relationships
New single-window OmbudService announced for financial services sector. Five major industries of Canada's financial services sector -- banks, life and health insurers, property and casualty insurers, investment dealers and the mutual fund industry -- announced the creation of a National Financial Services OmbudService (NFSO). This new service, which is planned to be in place by July 1, 2002, will provide more than 95 per cent of Canada's financial services consumers with single-window access to recourse if they have concerns or complaints. More at www.insurance-canada.ca/ebusiness/canada/Ombuds200112.php
Cross Selling is In The Technology: Your Virtual Insurance Imagine a financial institution so entwined with its customers that product offerings seem more like partnership arrangements than sales pitches. The client's first contact may be walking in the door of a brick and mortar establishment and asking for a checking account, but from that point forward, every banking, insurance and securities whim is anticipated and the proper product provided at the right time through the most advantageous channel. More at www.insurance-canada.ca/ebusiness/other/VirtCRM200201.php
Use Internet Technology to Enhance Existing Relationships: Your Virtual Insurance The onslaught of new technologies, solutions and buzz-words creates much hype for their creators but also fear, uncertainty, and doubt; not to mention false starts and wasted investments; for the companies trying to implement their concepts. But today, management must pierce the subterfuge of the gee-whiz words and view the Internet from the first principles; the established fundamentals of business. More at www.insurance-canada.ca/ebusiness/other/VirtBuzz200112.php
Skills, Jobs and Human Resources
Leadership vs Technology: Where is the Balance? By Jack Burke, Sound Marketing Does this mean the owner must jump into the electronic pool with both feet, attend classes to learn computer technology and begin subscribing to hi-tech newsletters? Not a bad idea. Hearken back to an earlier day as ask yourself how well a business owner might have survived if he refused to integrate that new technological contraption of a telephone into his business. Or how productive might that business have been if the secretary had to write letters in long hand because the owner didn't trust typewriters. Leadership today has to be partly about deploying the right technology at the right time in the most effective way. More at www.insurance-canada.ca/humanres/other/Burke200112.php
Nine ways to get and keep your prospects' attention: Your Virtual Insurance Every day it's getting more difficult to see prospects. Once you're in the office, you want to make every second count. These nine presentation tips can help you plan and execute presentations that capture the prospect's attention and keep it on you - at least until you can make your points and ask for the order. More at www.insurance-canada.ca/humanres/other/SalesTip200112.php
Technology & E-Business
Seven Steps to a Successful Mobile Deployment: White paper from River Run Software Group How to Increase the Profitability of Your Workforce in the Field. This newly published paper is an introduction for enterprises -- particularly insurance companies with significant inspection or claims business -- considering implementing a mobile workforce solution that generates ROI. River Run has more than a decade of experience in the mobile arena, and has developed a methodology. More, including download links, at www.insurance-canada.ca/ebusiness/other/River200201.php
Previously Wary Insurers Now Expect Technology to Drive Dramatic Change: Tillinghast - Towers Perrin survey Prior to September's tragic events, a Tillinghast - Towers Perrin survey revealed that insurers now believe technology will drive significant industry change. In fact, despite an already reeling new economy and technology investments that have delivered mixed results, many insurers believe that over the next three years technology-driven change will be revolutionary. Insurers' response to last month's tragedy may put much of this new technology to the test earlier than anyone believed. More at www.insurance-canada.ca/ebusiness/other/Towers200112.php
Marketing
Manulife Financial poll finds Canadian RRSP holders plan to "stay the course" with 2001 contributions Canadians plan to stay the course with their long-term investments and make few if any changes in the way they'll save for retirement in the RRSP season ahead, according to a recent survey for Manulife Financial, among Canada's leading life insurance companies. More at www.insurance-canada.ca/market/canada/ManSurv200201.php
Top 10 Ways to Lose Your e-Customers: from Virtual Insurance Most E-Commerce sites are finding it tough just now. Every customer has to be fought for - but many sites appear to be intent on chasing customers away. If you want to join them, here's ten tried and tested ways to lose sales. More at www.insurance-canada.ca/market/other/VILoseCust200201.php
Distribution
Standard Life - Ideal Segregated Funds now available on FundSERV The Standard Life Assurance Company is pleased to announce its new "Ideal Series", making its "Ideal Segregated Funds" available via FundSERV Inc., the leading network service provider to the Canadian investment fund industry. "In line with our philosophy of being easy to deal with, having our "Ideal Segregated Funds" on FundSERV is a plus for those who prefer to do business electronically". More at www.insurance-canada.ca/distribution/canada/StandardFun200201.php
Policy Management
AXA Corporate Solutions commits to using Inreon for placing its facultative reinsurance worldwide Axa Corporate Solutions commits to using inreon for placing its facultative reinsurance worldwide London and Paris - December 20, 2001. Axa Corporate Solutions has decided to buy its facultative reinsurance contracts through Inreon, the Internet-based reinsurance trading platform. More at www.insurance-canada.ca/poladmin/other/AXAInreon200112.php
from Doug:
Our first issue of the new year 2002. Another three months and it will be our newsletter's first birthday. Our subscription list now exceeds 1500. To all, we wish the best in this new year. With the increase in announcements and news from our vendors and other contributors, this newsletter will now be published weekly except for the odd week when we need a break.
In case you haven't visited lately, our new home page is less graphical, and should get you more quickly to items you are looking for at www.insurance-canada.ca.
Our Web site has grown into a more comprehensive resource centre for insurance professional and consumer alike. November was our best month yet. We are in the process of moving our site over the next month or so. We look forward to a better set of site management tools, and more flexibility. Our statistics will improve too. I may interject our experiences into this newsletter as we proceed.
Just a reminder note about our February Claims seminar the date has changed from Feb 5 to Feb 14 Happy Valentines!