Issue 2005-44: November 1, 2005
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.
Distribution
Global IQX Announces Next Generation Sales and Service Automation Platform.
October 24, 2005, Ottawa, ON - Global IQX, a specialist in component-based sales and service solutions for group benefits carriers announces the next generation IQX Platform designed to improve efficiencies and sales by automating the entire sales process from prospecting through enrollment for the Group Life and Health market. Developed on a new data architectural platform that supports ACORD XML standards for insurance, IQX Platform features an enhanced rules engine and empowers business users in insurance organizations to configure business rules independently, without reliance on IT.
Applied Systems Awards: Insurance companies lauded for ease of doing business.
Nashville, TN-October 21, 2005 (ASCnet TENCon Special)- Applied Systems, Inc., has joined the international user group for its products in recognizing insurance companies that make it easy for agencies and brokers to conduct business with them. Insurance technology company Applied Systems co-presented the 2005 Ease of Doing Business Awards to 16 insurance carriers judged best at advancing agency-company interface.
Product Announcements
Markel Insurance Launches Markel SIMPlus™
Toronto (October 21, 2005) - Markel Insurance Company of Canada today announced the launch of Markel SIMPlusTM, an innovative equipment financing program designed to provide greater flexibility for Canadian trucking operators.
eBusiness and Technology
Setting Priorities on Projects (part 2 of 2), by Peter Symons, Managing Partner, OARBIC.
Last week we looked at how to set priorities on the multitude of projects that you get presented to you every year, based on the Strategic Objectives of your company. We first determined the relative importance of each Strategic Objective against the other Strategic Objectives and then mapped the list of projects (and sub-projects) against each of the Strategic Objectives.
Education and Training
Natural Disasters and Their Impact on the Insurance Industry: Round Table Forum, Dec. 8, 2005: Eric Moss Consulting.
Global climate change, earthquakes, floods, windstorms, ice storms - The frequency of national disasters and their ramifications on our global environment are increasing steadily and relentlessly. More than ever these natural disasters are causing grave and overwhelming concern for the Insurance Industry, their customers and Government. These issues have profound affect for business and government and their impact on IT are challenging and intense.
Copoloff Insurance Agencies Inc. Unveils New Cutting-Edge Service for Delivering Live Online Continuing Education Credits to Brokers.
MONTREAL, Oct. 25, 2005 - Copoloff Insurance Agencies Inc. announces the introduction of live audio and video conferencing for brokers. Using new technology and resources provided by CEconference.com, this new service allows brokers to earn CE credits over the Internet and in the convenience of their own offices.
Policy and Product Management
CGI: INSideOUT comes to Canada.
October 2005 -- CGI is pleased to announce the delivery of a new enterprise PRODUCT called INSideOUT for the Canadian Insurance marketplace. CGI's new INSideOUT policy and claims software enterprise product is a complete set of tools to automate the entire back office of your company. It's the most comprehensive and integrated software solution set in the industry today.
European Policy Administration Systems 2005: General Insurance vendors - Report Published by Celent.
London, United Kingdom - October 17, 2005 - Detailed profiles and comparisons of 11 vendors with limited profiles of an additional 8 vendors. The landscape for general insurance policy administration systems has changed significantly in recent years, with a number of new entrants offering solutions based completely on new technologies. These standards and technologies such as .NET, Java, SOA, Web services, and ACORD XML now feature in almost all vendor offerings, even those that have been around for decades.
CSIO Insurance Portal Status Update
Summary of recent events:
One year ago there were 18 carriers on the portal. Today there are 39 carriers with an additional 7 in the process of coming on board;
We have currently 184 brokers assigned to the Portal;
From our August Advisory meeting a number of enhancements were identified to be included within the Portal. To that end, we have moved to monthly enhancement releases, starting in September, when we implemented 4 major enhancements;
October has already seen 3 major enhancements implemented with more forthcoming at the end of the month; and
We are finalizing our November monthend release.
October 31, 2005. The CSIO Portal has now been updated with 2 new features.
Consumer Information
Insurance Bureau of Canada joins SMARTRISK in calling for a National Injury Prevention Strategy.
Saving thousands of lives, reducing hospital-care expenditures, and shrinking a $15-billion burden to Canadian taxpayers are among the benefits of a proposed National Injury Prevention Strategy released today by injury-prevention groups and the insurance industry.
CIHI Report: Canadian Youth With Positive Community and Family Ties Report Better Health.
October 19, 2005-Youth who say that they have positive ties with family, school, peers and community tend to be in better health and have higher self-worth, according to a new report from the Canadian Institute for Health Information's Canadian Population Health Initiative. Improving the Health of Young Canadians, 2005 explores the association between five positive "assets"parental nurturing, parental monitoring, school engagement, volunteerism and peer connectednessand the health behaviours and outcomes of Canadian teens.
Ontario auto insurance rates decrease in third quarter of 2005.
Ontario private passenger auto insurance approved rates decreased during the third quarter of 2005 (July 1, 2005 to September 30, 2005), reports the Financial Services Commission of Ontario.
Marketing and the Market Place
RIMS Benchmark Survey Shows Sharp Downturn in Commercial Insurance Rates, But Impact of Katrina and Rita Still Looms.
New York, October 20, 2005 - Commercial insurance premiums took a sharp downward turn in the third quarter, according to the RIMS Benchmark Survey?, the industry's only comprehensive survey of current policy renewal prices as reported by corporate risk managers.
Business of Insurance
Markel Insurance Company of Canada Announces Silvy Wright to Succeed Mark Ram as President.
TORONTO (October 27, 2005) - Markel Insurance Company of Canada today announced the appointment of Silvy Wright to the role of President, effective January 1, 2006. Ms. Wright will take over from current President Mark Ram who will become President and CEO of Markel's parent company, Northbridge Financial, also effective January 1, 2006.
Insurance in the Community
National Block Parent Week Celebrates the Sign of a Caring Community: The Co-operators.
GUELPH, ON, Oct. 24, 2005 - Behind every familiar red and white Block Parent sign in your neighbourhood is a volunteer willing to lend a hand to make the community a safer place. Block Parents offer their homes as havens not only for children, but for people of all ages who find themselves in need of a dependable adult and a safe place. During National Block Parent Week, October 23-29, The Co-operators, national sponsor of the Block Parent Program, salutes all the volunteers for building safer communities - one block at a time.
Reference and Statistics
North American Life Insurance Activity Declines 2.8% in September: MIB.
(Westwood, Mass. - October 21, 2005) North American application activity for individually underwritten life insurance declined -2.8% in September, year-over-year, according to the MIB Life Index SM. This marks the Index's eighth consecutive year-over-year decline in the last nine months. Third quarter activity was off -3.2% versus same quarter 2004.
Managing Relationships and Customer Service
Aviva Canada says "Let's be Clear about Disclosure."
October 17th, 2005, TORONTO, ON - Aviva Canada Inc., one of Canada's largest Property & Casualty insurance groups, says it's time to resolve the issue of what kind of disclosure should accompany the sale of insurance products. "Let's face it. For most customers, the insurance business is complex and the sales arena potentially confusing," Igal Mayer, President & CEO, Aviva Canada Inc., writes.
from Doug:
The news of more storms, political and natural, continues to roll in, with all of the human hardship and suffering that accompany these situations. At the other end of the spectrum, I enjoyed a little time doing yardwork on the weekend in wonderully sunny and warm days here in Toronto. I guess that yardwork is one of my sanity lifelines these days.
I hope you enjoyed Hallowe'en. I was personally a no-show for the first time in twenty some years, although the street sounds indicated a strong turnout of trick-or-treaters.