Insurance-Canada.ca Newsletter: Issue 2002-40; October 8, 2002

Issue 2002-40: October 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.

Seminar "Marketing Insurance: A Technology Boost"

A strong marketing plan can be a blueprint for much of what we do as organisations. Join us Friday October 18 for a half day review of Technology in support of Marketing. From a senior consultants perspective, Judy Johnson and Raj Vaswani of Sapiens will review the options we face, and the quest for customer loyalty. Michael Turney, SAS on marketing campaigns generally and Stefan Eyram, Remark on the four "P's" of eMarketing will take us to the more specific. Three more speakers have narrower topics which address opportunities we all face, large or small. Kevin Boyes, Symcor on making marketing use of transactional communicatons, Lowell Wintrup, Applications To Go on Lead Generation and Valerie Alphonso E-basic Technology on Lead Management round out the seminar. Don't miss it - register now. Details at http://www.insurance-canada.ca/seminars/seminar20021018.php

Distribution

CAIFA and CAFP Members Approve Merger

Canadians can now look to a single association of professional insurance and financial planners to help them secure their financial future. Today, delegates and members of CAIFA and CAFP, Canada's two organizations representing insurance and financial advisory professionals, voted overwhelmingly in favour of merging together to form a single association to represent their interests and the interests of their clients. More at http://www.insurance-canada.ca/distribution/canada/CAIFAMerge200209.php

e-Critical Illness expands National Life's on-line business presence

e-Critical Illness (eCI), a new Accident and Sickness insurance product from National Life, offers one of the most comprehensive coverages available against the financial setbacks of surviving a serious illness. eCI provides monetary compensation for any of 21 different illnesses and features market-leading definitions, making it one of the best protection plans in its class. Available on-line early next month through National Life's partner Web sites and through our secured InSite section at www.NationalLife.ca, eCI delivers exceptional convenience and value. More at http://www.insurance-canada.ca/distribution/canada/NatLifeCI200210.php

Eleven Leading Mutual Fund and Insurance Companies Sign on as CAIFA Corporate Partners

CAIFA's corporate partners were officially announced during a briefing session at CAIFA's 2002 Annual General Meeting and National Conference. Eleven mutual fund and insurance companies have signed on to support CAIFA as the voluntary professional association that prepares and promotes advisors in the public interest. More at http://www.insurance-canada.ca/distribution/canada/CAIFACS200209.php

Canada Life aims to lead core UK markets

Canada Life Financial Corporation today outlined a major strategic initiative that will focus on increasing the company's prominence in specific business areas within the U.K. market. More at http://www.insurance-canada.ca/distribution/other/CanadaLUK200210.php

Five Insurers License CSC's PerformancePlus Distribution Management System

Computer Sciences Corporation today announced that five insurers, including The AEGON Group of companies and Manulife USA have signed new license agreements for its distribution management system, PerformancePlus. Business drivers for these decisions include the need for greater compensation flexibility and better service and responsiveness to agents, broker/dealers and other distribution channels. More at http://www.insurance-canada.ca/distribution/announce/CSC200210.php

CSIO Insurance Portal Status Update

Week ending October 4: The technology is there and waiting; the non-technical issues will hopefully be resolved early this coming week.

Technology and e-Business

Data Mining in the Insurance Industry: Solving Business Problems using SAS "Enterprise Miner" Software

Data mining can be defined as the process of selecting, exploring, and modeling large amounts of data to uncover previously unknown patterns. In the insurance industry, data mining can help firms gain business advantage. For example, by applying data mining techniques, companies can fully exploit data about customers' buying patterns and behavior and gain a greater understanding of customer motivations to help reduce fraud, anticipate resource demand, increase acquisition, and curb customer attrition. This twelve page paper discusses how insurance companies can benefit by using modern data mining methodologies and thereby reduce costs, increase profits, retain current customers, acquire new customers, and develop new products. More and copy of the paper at http://www.insurance-canada.ca/ebusiness/canada/SASDM200210.php

Insurance Services Office (ISO) to Deploy InSystems Integrated Document Automation and Compliance Solution

Insurance Services Office, Inc. (ISO), a leading source of information, products and services related to property and liability risk has signed a license and services agreement with InSystems, a leading provider of e-business solutions to financial services organizations, for an integrated document management/compliance automation solution. More at http://www.insurance-canada.ca/ebusiness/other/InSystemsISO200210.php

Canada Life Completes Acquisition of Royal & SunAlliance's U.K. Group Life Business

Canada Life Financial Corporation (Canada Life(TM)) today announced it has completed the acquisition of the group life and long term disability business from Royal & SunAlliance Insurance Group plc. Effective October 1st, Royal & SunAlliance reassured its group insurance risks with Canada Life who will administer the insurance. Formal transfer of the business will occur after court approval, expected in mid-2003. More at http://www.insurance-canada.ca/ebusiness/canada/CanadaLRSA200210.php

Claims

Kingsway Makes Presentation to Auto Insurance Review Committee in Ontario

Kingsway Financial Services Inc. announced that its President and Chief Executive Officer, Bill Star, made a presentation to the Auto Insurance Review Committee in Ontario. “Insurance fraud is a major problem which is facing the insurance industry in Ontario. The prevalence of fraudulent and exaggerated claims is contributing a significant amount to the loss costs from the Ontario Automobile product, which in turn is now translating into significant premium rate increases for policyholders in Ontario.” More at http://www.insurance-canada.ca/claims/canada/KingswayFraud200210.php

Policy Management

CSC Awarded $80 Million Applications Outsourcing Agreement by Manulife USA

Computer Sciences Corporation, one of the world's leading information technology (IT) services and consulting firms, has signed a seven-year applications outsourcing agreement valued at approximately $80 million with Manulife USA, a subsidiary of Toronto, Ontario-based Manulife Financial Corporation. More at http://www.insurance-canada.ca/poladmin/announce/ManuLCSC200210.php

Skills and Careers

Clarica awards $360,000 to 64 schools to advance student leadership skills

Clarica's "Leaders for Tomorrow: Building Skills Today" annual grant program will donate $360,000 to 64 publicly funded schools across Canada to fund projects designed to advance leadership skills among students. More at http://www.insurance-canada.ca/humanres/canada/ClaricaLfT200209.php

Managing Relationships and Customer Service

Europe's First Internet-Only Insurance Company - Ineas - Uses eGain Software to Deliver Fast Multi-Lingual Customer Service

Ineas Insurance Company, Europe's first Internet-only insurer, today announced that by using eService software from eGain Communications, the pan-European insurer has improved customer service response times despite a 15x increase in email traffic, while simultaneously cutting its service administration time in half. More at http://www.insurance-canada.ca/ebusiness/other/Ineas200209.php

Consumer Information

Teen drivers and child passenger safety - The Experts Respond

October 10, 2002 is “Put the Brakes on Fatalities Day” across the US and the I Promise Program a North American wide teen safe driving initiative, is participating by sharing the survey results of child passenger experts on the matter of new teen drivers, transporting children. More at http://www.insurance-canada.ca/consinfoauto/IPromTeen200210.php

Marketing

New Car and the Impact on Insurance: Progressive Insurance Survey

A New Car and the Impact on Insurance: Progressive Insurance Survey Survey Reveals Drivers Don’t Understand That the Choices They Make When Buying or Leasing a New Vehicle Can Influence Their Auto Insurance Rates. More at http://www.insurance-canada.ca/market/other/ProgBuy200210.php

from Doug:

We all need a little pomp and ceremony - I hope you are enjoying the coverage of the Queen's Jubilee tour. Reader John Ostaf notes a PBS production on Wednesday, October 9th - 9 PM about CareGiving and the affects it has on our lives and those of our loved ones. As insurance professionals, and as individuals, this is an important topic. The program provides an excellent overview of CareGiving in North America including Alzheimer's disease, The Eden Alternative, Geriatric Care Management, Volunteerism, Workplace Caregiving issues and Long Term Care. More information at http://www.thoushalthonor.org/