Issue 2002-22:   June 4, 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

Connecting with Consumers, by Sally Praskey, CI - Canadian Insurance Magazine, May issue. Provide information, leaven it with consistent follow-ups and then throw in a little empathy and you have a recipe for good customer service. Article at www.insurance-canada.ca/ebusiness/canada/Praskey200205.php

DWL and ILOG take Customer-centric Solutions for Insurance and Financial Services to the Next Level. ILOG and DWL Incorporated, the leader in Unified Business Services software, today announced that ILOG JRules(TM) business rule management software will help manage millions of customer data records for DWL Customer(TM) the market-leading enterprise customer administration hub for the financial services industry. More at www.insurance-canada.ca/ebusiness/announce/DWLILOG200205.php

DALBAR Announces the Nation's (USA) Best Participant Web sites for Defined Contribution Business. DALBAR, Inc. today announced its pick for the leading Web sites in the defined contribution business for meeting participant needs. The following firms were recognized as offering Excellent participant Web sites: MassMutual, The Principal Financial Group, J.P. Morgan/American Century, Securian, Schwab, and First Mercantile Trust. More at www.insurance-canada.ca/ebusiness/other/DALBAR200205.php

Insurers Must Look Beyond Online Sales To Self Service For Internet Success, Gómez Research Reveals. While online sales have so far yielded disappointing results, a growing number of insurers have begun to recognize modest success in the realm of customer service, according to a recent consumer research report published today by Gómez, Inc., the Internet Quality Measurement firm. More at www.insurance-canada.ca/ebusiness/other/GomezWeb200206.php

CSIO Insurance Portal

Since the announcement of ISI's rating engine with the portal, many insurers have evaluated their positions. Most of those with projects under way to provide guaranteed rates will continue those efforts. However many of those same companies will use the ISI service as a "Quick Start" to offer non-guaranteed rates earlier. As well, Pembridge and Pilot who were committed to the portal but with undetermined dates will now offer ISI rates (see the Web site for complete list). Bill Wallace indicates that all of these companies are currently intending to have this function ready in the August timeframe. The initial few months' focus will be on Ontario, and the number of companies now participating will provide the requisite critical mass for many brokers.

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Marketing

Small Business Seeks Relief, by Barbara Aarsteinsen, ci - Canadian Insurance Magazine. Upset about steep increases and tougher terms, confused about why coverage has become so much more expensive and harder to get, small business owners are gearing up to give insurers a piece of their mind. Article at www.insurance-canada.ca/market/canada/BAci200205.php

Claims

Crawford Adjusters Canada Reports on Status of Walkerton Compensation Plan. All 10,000 Stage One Applications Received Have Been Processed, Stage Two Applications Processing Underway. More at www.insurance-canada.ca/claims/canada/Crawco200205.php

Distribution

Regulators Update Life Standards for Insurance Agent Licensing. Canadian consumers will soon benefit from enhanced standards for life insurance agents. On June 1, participating Canadian regulators will start to licence the first graduates of the new Life Licence Qualification Program or LLQP. The LLQP will be accepted as an option to the existing provincial requirements in all provinces except Quebec where an updated standard already exists. The new LLQP applies to new agents entering the field. More at www.insurance-canada.ca/distribution/canada/LLQP200205.php

Collaboration Proves Key To Success As Travelers Brings 100th Applied Agency Live On Transformation Station. Applied Systems, Inc. and Travelers Property Casualty are pleased to announce that Moody and Associates, Inc. of Gaithersburg, Maryland has just been identified as the 100th Applied Systems insurance agency to be brought live with Transformation Station for Travelers, marking a tremendous collaborative milestone for Travelers, Applied Systems, and IVANS in bringing a single, real-time transaction solution to the insurance industry. More at www.insurance-canada.ca/distribution/other/TravApplied200205.php

Travelers Announces New Advancements in Real-Time Single-Entry, Multi-Company Transaction Capabilities for Independent Agents and Brokers. Travelers, an industry leader in developing real-time automation solutions for independent agents, unveiled two advancements today for real-time transactions based on the ACORD XML standard. The company announced that it is in production with a real-time single-entry, multiple-company interface (SEMCI) capability for quoting personal auto insurance policies - enabling agents to quote an auto insurance policy in real-time directly from their Applied Systems agency management system through IVANS' Transformation Station. Also debuted was a first-in-the-industry use of real-time SEMCI technology for large commercial accounts. More at www.insurance-canada.ca/distribution/other/Travelers200205.php

 

from Doug:

Celebrated my brother's fiftieth last weekend, good to see the family together for a special occasion. This weekend I will be at a conference for four days in Waterloo Mennonite Country. Looking forward to all the friendly banter with those who share a historical and genealogical interest.