Issue 2006-50: December 12, 2006
eBusiness and Technology
CGI Ranked as Top Solutions Provider to the Insurance Industry.
Montreal, Quebec, November 28, 2006 - CGI Group Inc. announced today that American Banker Magazine and the research firm Financial Insights have ranked CGI as the number one solutions provider to the Insurance Industry as part of the 2006 FinTech 100.
Insurance CIO/CTO Pressures, Priorities, Projects, and Plans for 2007: Survey Results Report Published by Celent.
Boston, MA, USA - November 27, 2006 - Celent's fourth annual survey of senior IT executives finds increased focus on strategic spending to meet market demands and some concern over a softening property/casualty market. In the fall of 2006, Celent surveyed 29 insurer senior IT executives to provide a deep information resource about priorities, behaviors, initiatives, and infrastructures at US insurers. Overall, the respondents represented US$50 billion in premium, or roughly 5% of the total US insurance market.
Progress EasyAsk Technology Helps Kingsway Financial Services Increase Business Volume by Optimizing Search for Critical Business Information.
BEDFORD, Mass.- Nov. 28, 2006 - Progress Software Corporation, a supplier of leading technology to develop, deploy, integrate and manage business applications, today announced that Kingsway Financial Services, one of the fastest growing property and casualty insurance companies in North America, has selected the Progress(R) EasyAsk(R) natural language query and reporting technology for use within its enterprise portal application. The system will allow Kingsway to access information more efficiently from multiple databases and is part of an enterprise-wide information portal from HarCase Software Ltd, a leading supplier of solutions to the insurance industry.
Gartner Highlights Seven Core Benefits of Web 2.0 for Traditional Industries.
Egham, UK, December 4, 2006 - Many traditional businesses that stand to benefit from the new business processes, communities and business models enabled by the Web 2.0 movement will miss out because they simply do not realise its long-term business potential, according to Gartner Inc.
Policy and Product Management
Great American Insurance Company to Deploy Castek's Insure3.
Mumbai/Toronto, November 20, 2006: i-flex® solutions, a leading
provider of IT solutions to the global financial services industry announced today that Great American Insurance Company has selected Castek's Insure3 policy administration. Great American will use Castek's Insure3 Policy product as its Policy and Customer system of record, and to provide a new generation of flexible tools to enhance efficiency and improve profitability.
PMI Canada and Solidifi Sign Agreement for Collateral Analytics Software.
TORONTO, Dec. 7, 2006 - Solidifi Inc. and PMI Mortgage Insurance Company Canada, the subsidiary of The PMI Group, Inc. (NYSE: PMI) that, subject to regulatory approval, will soon offer mortgage insurance in Canada, announced today they have signed a Letter of Intent to develop customized real estate valuation software to be used by PMI Canada.
Distribution
Univeris Now Enables Brokers and MGAs to Manage Investments and Insurance on One Platform.
TORONTO, ON – December 5, 2006 – "The insurance distribution market is undergoing significant and fundamental change and we are working at the forefront to provide the insurance distribution sector with technology they need to gain competitive advantage," said Carmine Tullio, president and chief executive officer of Univeris, the leader in enterprise wealth management systems."
Dale-Parizeau LM and Morris & Mackenzie to Merge.
MONTREAL, Dec. 6, 2006 - The shareholders of two of Quebec's largest independent and privately owned insurance brokers are pleased to announce the merger of their operations. Dale-Parizeau LM and Morris & Mackenzie Inc., will combine operations to become Dale-Parizeau Morris Mackenzie Inc.
HKMB to Acquire Toronto/Vancouver Offices of Morris & Mackenzie.
December 6, 2006, Toronto, Ontario: HKMB International Insurance Brokers ("HKMB") confirms it has entered into an agreement to purchase the Toronto and Vancouver operations of Morris & Mackenzie Inc.HKMB plans to integrate the operations of the two offices into its own during the first quarter of 2007 and looks forward to welcoming Morris & Mackenzie colleagues.
Disability Insurance for Executives. How to make sure your clients are covered: RBC Insurance.
Most people never assess their disability insurance coverage until they need it – and executives are no exception. In the event of an illness, many high-income earners rely on the long term disability coverage (LTD) in their group benefits programs to provide the necessary protection. Although many don't consider purchasing additional disability insurance, a closer look at group LTD coverage often reveals significant gaps in coverage.
Globalex: New Specialty Insurance Brokerage to focus on Technology Risk.
OTTAWA, Dec. 1 2006 - Binks Insurance Brokers of Ottawa, and Globalex of Montreal announced today the formation of their joint venture agreement to provide specialty insurance brokerage services to Ottawa's technology sector. This new venture will be known as Globalex Ottawa.
Western Financial Group Announces Acquisitions in Northern British Columbia.
High River, Alberta - December 1, 2006 - Western Financial Group (the "Company") announced today that it intends to acquire 15 insurance offices in Northern British Columbia.In the northeast section of B.C. the Company will acquire Geer & Spice Insurance Agencies Ltd. with three offices in Dawson Creek; Northland Insurance Services Ltd. in Fort Nelson; and J.W. Baker Insurance Agencies Inc. (three offices) and Pomeroy Insurance Services Ltd., both in Fort St. John.
Not all producers in the voluntary market are the same according to a study by Eastbridge Consulting Group.
AVON, CONNECTICUT, USA (November 28, 2006)-The voluntary market is served by at least eight different segments of producers. That was just one of the findings in a recent study by Eastbridge Consulting Group.
Claims
Conning Research: A Quiet Revolution in Property-Casualty Claims Management.
Hartford, CONN., November 28, 2006 - Claims effectiveness is fast becoming a differentiating competitive feature among property-casualty companies as new measurement and process controls change the way claims are quantified, according to a new study by Conning Research & Consulting, Inc.
Consumer Information
The Co-operators : Top 10 tips for managing insurance costs.
GUELPH, ON, Dec. 4 - Insurance protects the financial security of our family and friends when they need it the most; but that doesn't mean it makes for interesting dinner conversation. Having accepted the hard truth that not everybody finds insurance as interesting as we do, The Co-operators has developed a series of educational materials titled "Insurance 101" to help Canadians understand the fundamentals of insurance. In that spirit, we present The Co-operators top 10 tips for managing insurance costs.
The Co-operators: New Initiatives Designed to Address Growing Insurance Issues Facing Canada's Non-Profit Sector.
GUELPH, ON, Dec. 5, 2006 - "On this, the United Nations Day of the Volunteer, The Co-operators would like to acknowledge and thank the countless volunteers whose efforts so positively contribute to Canadian communities." - Kathy Bardswick, president and CEO of The Co-operators. The Co-operators is taking action to address the growing issues of insurance availability, affordability, volatility and accessibility facing Canada's non-profit and voluntary sectors.
Marketing and the Market Place
USA Group Medical Plan Costs Continue Rising for All Sizes of Employers, CIAB Survey Shows.
Nov. 15, 2006 WASHINGTON - Employers of all sizes continue to see rising costs for group medical coverage on account renewals, though the increases for the largest accounts tend to be lower than for small and medium accounts, according to the fall Employee Benefits Market Survey by The Council of Insurance Agents & Brokers.
from Doug:
Being somewhat of a procrastinator sometimes, a small Christmas dinner gathering this Thursday has given the impetus to put up some Christmas decorations. Our two boys will be here for about ten days over Christmas. I am relishing the idea of a break for a few days - my gift to myself!