Issue 2003-46:   November 18, 2003

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.

Claims

Ontario auto insurance claims satisfaction remains high at 85%.

Consumer satisfaction with auto insurance claims handling has remained consistently high with an overall rating of 85% approval for claims closed in 2002. The annual Claims Satisfaction Survey issued by the Financial Services Commission of Ontario (FSCO) demonstrates that companies providing auto insurance in Ontario continue to do an excellent job of dealing with thousands of auto insurance claims made each year.

Boomerang Tracking leads Sūreté du Québec to stolen meat trailers.

In the early hours of October 27, 2003, Boomerang Tracking Inc. received an automatic theft notification from a Boomerang2"-equipped International 9100, valued at approximately $100,000 from St-Louis-de-Gonzague, Québec, near the city of Valleyfield.

Hudson's Bay Company and Crawford form a claims management partnership.

Crawford Adjusters Canada announced today the formation of a partnership with Hudson's Bay Company (Hbc) to become their Third Party Administrator, providing Claims Management Services to Hbc's Risk Management Department. These services include the handling of claims and incidents involving Hbc's property and customers at over 550 locations across Canada.

ICBC awarded double costs in Supreme Court fraud ruling.

A torched and gutted 1996 Camaro Z28 and an award for double costs to ICBC are all that remain after a recent Supreme Court jury decision (Hayer v. ICBC) involving an attempted fraud. Mr. Swaran Singh Hayers claim to have his vehicle replaced was denied after he falsely declared himself as the vehicles principal operator. ICBC maintained that the vehicle was destroyed when Mr. Hayers 27-year-old son, Amandeep Hayer, set fire to it in the hope of collecting on the limited depreciation provision of his fathers ICBC policy.

CSIO Insurance Portal Status Update

Week ending November 14: AXA has completed testing of their Ontario Property Rates on the Portal, and have signed off on them. The rates will next be promoted to the production system.

Distribution

Momentum Builds for Real-Time Agency-Company Interface: IVANS.

Less than a year after rollout of new industry wide technology for real-time communications, thousands of USA independent insurance agents have easier workflows with their carrier partners, according to the Applied Systems Client Network (ASCnet), the user group of Applied Systems agency management technology. In October 2002, there were 100 agents enabled for the industrys real-time data exchange, called IVANS Transformation Station, said ASCnet Executive Director Bill Jenkins. Today, just a year later, 2,600 agents currently are using the technology.

Smart Insurance Forms From ACORD Streamline's Agent's Workflow In The Microsoft Office System.

As demonstrated today at the launch event for the Microsoft Office System in New York City, standardized forms for processing insurance transactions between independent agents and the insurance companies they represent will be getting smarter and easier to maintain for ACORD Advantage agents thanks to integration with Microsoft Office InfoPath 2003, part of the Microsoft Office System.

Education and Training

Simulations -- The next generation of negotiation is on-line learning: Stitt Feld Handy Group.

Shrewd HR professionals know that the secret to retaining their best employees is to offer them opportunities for career development. What is the most important skill for employees in the 21st century? Negotiation. It's something people do everyday and it determines whether your organization succeeds at the leading edge, or flounders at the periphery.

Technology & eBusiness

Hyland Software Forms Strategic Partnership with Image Process Design (IPD) to Focus on Insurance Industry.

Hyland Software, Inc. has formed a partnership with Image Process Design (IPD), a leading provider of integrated imaging, workflow, process automation and business process management systems for the insurance industry. The initial focus of the technology partnership will address the business process automation and the intelligent routingof information through workflow to the middle market of the insurance industry using Hyland's OnBase solution.

TowerGroup Identifies 10 Top Imperatives for Building Payments Businesses in 2004.

While the payments processing arena remains a vital strategic asset for financial institutions, most bankers today drastically undervalue its worth and relegate it to the role of an expensive but necessary cost-center. To assist banks in rethinking the value of the payments arena, as well as in facing a daunting array of payments-related challenges, TowerGroup has issued its Top 10most critical technology and strategy imperatives for building payments businesses in 2004.

Shoppers Prepared to Trade Concerns over Electronic Tagging Technology for Real Shopping Advantages, says GartnerG2.

A new survey from GartnerG2, a unit of Gartner, today revealed that 70 percent of UK shoppers are concerned about the introduction of Radio Frequency Identification (RFID) technology. However, it showed that 80 percent of the same shoppers are prepared to accept it once they understand the tangible benefits the technology can bring to their shopping experience.

Business of Insurance

Procurement Outsourcing Poised to Double, Accenture Survey Finds.

Nearly half of companies in Europe and the United States are considering outsourcing part of their procurement operations within three years, more than double the 22 percent of respondents who said they currently outsource aspects of procurement, according to a survey released today by Accenture.

Managing Relationships

J.D. Power and Associates Reports: Record Low Interest Rates Help Boost US Mortgage Customer Satisfaction.

Driven primarily by record low interest rates, customer satisfaction with home mortgage lenders has increased for the second consecutive year, according to the J.D. Power and Associates 2004 Home Mortgage StudySM released today.

from Doug:

Obviously Christmas is around the corner now that we have experienced Toronto's first snowflakes and first hard frost of the year, and the Santa Claus parade has wound its way down University Avenue once again.
Family research continues anytime however as I spend a couple of days in Ottawa and Glengarry County digging for some more roots.