Issue 2006-49: December 5, 2006
Claims
Automated Benefits Expands Business in Quebec: Symbility Solutions signs contract with Promutuel.
WATERLOO, ONTARIO (Nov. 21, 2006) - Symbility Solutions, a wholly owned subsidiary of Automated Benefits Corp. today disclosed that Promutuel du Lac au Fjord has signed a multi-year contract with Symbility to implement the Symbility mobile claims system.
Guy Carpenter and Amlin Announce First Full Paperless Electronic Claims Settlement.
London, November 16, 2006 - Guy Carpenter & Company Ltd., the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies (NYSE: MMC), and Amlin (LSE: AML), the leading Lloyd's insurer, today announced that, in continuing with the successful implementation of their Electronic Claims File (ECF) initiatives in the London Market, they have completed the Market's first fully paperless claim settlement.
Boomerang Successfully Recovers First Stolen Vehicle Equipped With Its New Espion Device.
Boomerang Tracking Inc., Canada's leader in stolen vehicle tracking and recovery, today announced the recovery of its first stolen vehicle equipped with the Company's new multi-layered, multi-unit tracking system, Boomerang Espion. The recovery took place on September 4, 2006.
TIRF: New primer on continuous transdermal alcohol monitoring.
November 20, 2006 - The Traffic Injury Research Foundation has released a new educational primer entitled, "Continuous Transdermal Alcohol Monitoring: A Primer for Criminal Justice Professionals." Transdermal alcohol monitoring devices are designed to continuously detect traces of alcohol in body perspiration. This useful tool allows agencies to monitor alcohol consumption among offenders with substance abuse issues.
Policy and Product Management
CNA Streamlines Underwriting Process with Guidewire PolicyCenter.
SAN MATEO, CA, November 29, 2006 - Guidewire Software®, a leading provider of technology solutions to property and casualty and workers' compensation insurers, today announced that CNA, a leading provider of property and casualty insurance, has begun deployment of Guidewire PolicyCenter® to support its core underwriting process.
MortgageBrokers.com selects Manulife Financial as retirement savings provider.
NEW YORK and TORONTO, Nov. 30, 2006 - MortgageBrokers.com Holdings Inc. (OTCBB: MBKR - News) - one of North America's fastest growing new mortgage broker brands and consolidation companies - announced the selection of Manulife Financial as the new administrator of the Retirement Savings Program for RE/MAX Real Estate Agents. The company made the announcement with its strategic alliance partner RE/MAX Ontario-Atlantic Inc. (RE/MAX).
Reference and Statistics
MIB Life Index Reports North American Life Insurance Activity Down 4.1% in October.
(Westwood, Mass. – November 27, 2006) North American application activity for individually underwritten life insurance declined -4.1% in October year-over-year, the eighth straight month where 2006 activity was below that of 2005, according to the MIB Life Index. Year-to-date (YTD), U.S. and Canadian application activity is off -3.2%, compared to the same ten months in 2005.
Insurance Premiums Fall Slightly In Third Quarter: RIMS.
New York, Nov. 6, 2006 – According to the RIMS Benchmark Survey™, commercial insurance premiums fell slightly in the third quarter of this year, representing a continuation of the trends that occurred in the past two quarters. The RIMS Benchmark Survey is the industry's leading comprehensive survey of current policy renewal prices as reported by corporate risk managers.
Marketing and the Market Place
eMarketer: Analysts Bullish on Online Ad Spending.
NOVEMBER 27, 2006 - The trend began early last week, when the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) released new data showing that US Internet advertising revenues reached a record $4.2 billion in the third quarter of 2006. That represents a 35% increase over the $3.1 billion figure posted for the third quarter of 2005, and a 2% increase over the second-quarter 2006 total of nearly $4.1 billion.
eBusiness and Technology
ACORD Leverages IBM Workplace Forms Technology in New ACORD eForms+.
Fort Lauderdale, FL - ACORD Standards Forum - November 14, 2006 - ACORD Standards Forum ACORD, the insurance industry's standards organization, announces the latest enhancements of ACORD Forms, built on top of IBM's open standards-based technology. The new ACORD eForms+ will help drive greater efficiency and productivity for members including carriers, solution providers, brokers and agents -- members who utilize electronic forms daily.
Business of Insurance
Tillinghast Survey Finds Increasingly Complex Regulations and Interest Rates are Top Life Insurance CFO Concerns for 2007.
STAMFORD, CT., November 7, 2006 -- More than three-quarters (77%) of life insurance CFOs cited the growing level and complexity of regulations as their biggest concern for the market and economic environment in 2007, according to the latest CFO survey from the Tillinghast business of Towers Perrin. Interest rates were a close second, with 70% of respondents citing concerns about potential volatility in rates as a key challenge.
Great-West Lifeco's U.S. subsidiary announces agreement to acquire 401(k) retirement plan business.
WINNIPEG, Nov. 30, 2006 - Great-West Lifeco Inc. today announced that its U.S. subsidiary, Great-West Life & Annuity Insurance Company, has reached an agreement to acquire the bundled, full-service, defined contribution - primarily 401(k) - business from U.S. Bank.
Deposit-accepting intermediaries: 2005 activities and economic performance : Statscan.
Monday, November 27, 2006 - Ottawa - The value of services produced by deposit-accepting intermediaries (chartered banks, trust companies, caisses populaires and credit unions) increased in 2005 at their fastest rate since the turn of the millennium, thanks to robust growth across most business lines. In total, these intermediaries produced services worth $61.7 billion, up 6.8% from 2004. This was the fastest annual rate of growth since 2000 when the high-tech boom fuelled growth of 10.6%.
Consumer Information
Royal & SunAlliance : One in three Canadians surveyed not protecting their identity.
TORONTO, Nov. 27 - Nearly one in three Canadians surveyed are putting their identity at risk by not shredding their personal documents before throwing them in the garbage, according to Internet research issued recently by Royal & SunAlliance Insurance Company of Canada.
CIHI report shows health gaps between neighbourhoods in Canada's cities.
November 21, 2006 - The neighbourhood you live in can play a role in your health, according to a new study by the Canadian Population Health Initiative (CPHI) of the Canadian Institute for Health Information (CIHI). The report shows that health differences between neighbourhoods can be just as big as-or sometimes bigger than-differences between Canada's cities or even between countries.
Workforce Management
Towers Perrin Survey Finds More Organizations Relying on Technology to Meet Workforce Management Goals.
STAMFORD, CT, NOVEMBER 9, 2006 -- A new Towers Perrin survey shows that HR departments of major organizations throughout North America are rapidly embracing technology systems to deliver HR services more effectively and efficiently and, ultimately, improve the management of HR programs. According to the survey, 61% of HR generalists report reductions in workload as a result of employee self-service (ESS) systems -- some as much as a 50% reduction -- freeing them to focus on more strategic HR initiatives.
from Doug:
It may be chilly here, but not like the Prairies suffered the last few weeks. After weeks of cloud and rain, at least the sun is shining. That does a lot for my outlook on life. I hope you are smiling too!