Issue 2008-13 -- April 1, 2008
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
Guidewire celebrates 30th successful P&C carrier implementation of its modern core insurance systems.
SARASOTA, Fl., and SAN MATEO, Calif., March 27, 2008 - FCCI Insurance Group, a premier provider of comprehensive property and casualty insurance for the commercial business owner, and Guidewire Software®, a leading global provider of solutions to property and casualty insurers, today announced that FCCI has successfully deployed Guidewire ClaimCenter® as its all-in-one claims system. FCCI has elected to implement ClaimCenter using a phased approach with this initial deployment supporting commercial auto claims.
FINEOS Implementation Selected for Celent 2008 Model Carrier Research - Accident Compensation Corporation of New Zealand cited as example of Best Practice in Claims Automation.
Dublin, Ireland, March 27, 2008 - FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and government, today announced that its client, the Accident Compensation Corporation of New Zealand, has been named in the Celent report, Model Carrier 2008: Case Studies of Effective Technology Usage in Insurance.
Marketing and the Market Place
"Expatriates 2008" by Bob Hughes, General Manager of CIGNA International Expatriate Benefits.
The dominant trend we anticipate in 2008 is increased globalization. As more and more countries escalate cross-border business activities, we see a corresponding expansion of expatriate employee assignments to and from a broader range of countries. We now see a surge in small to mid-sized companies launching overseas initiatives in locations such as the Pacific Rim countries and inpatriate assignments to the United States.
Banks Boost Direct Marketing Spend : eMarketer.
MARCH 25, 2008 - US banks and credit issuers spent $13.4 billion in 2007 on direct marketing advertising, generating $178.8 billion in sales, according to the recently-issued Direct Marketing Association (DMA)'s "Direct Marketing Facts and Figures in the Financial Services Industry" report.
Boomers Staying Put in Retirement; Ipsos Reid for RBC.
March 18, 2008 -- Toronto, ON – When it comes to deciding what kind community they want to live in during retirement, three in five Baby Boomers (60%) say they are happy where they are, and will be staying put. But many still want to make improvements with a majority saying they are likely (53%) to be doing some remodelling on their house, with one in five (19%) doing major renovations. As well, 24% are looking to purchase a second property, or vacation house.
Distribution
ING Insurance continues as Full Partner of the Broker Identity Program.
March 12, 2008 - Toronto - The Insurance Brokers Association of Canada is pleased to announce that ING Insurance Company of Canada continues to support the Broker Identity Program as a Full Partner.
Brovada launches Nexisys/NexQuote in Quebec with Groupe Ultima.
Brovada is pleased to announce that its NexQuote (comparative rater) and Nexisys (broker connectivity) solutions are currently in trial and will go live early this spring with Groupe Ultima. Groupe Ultima chose Brovada because of the functionality of their solutions, their ability to successfully get solutions to market and their relationships with the insurers.
eBusiness and Technology
IBM Predicts Five Future Trends That Will Drive Unified Communications.
ORLANDO, FL - 19 Mar 2008: IBM predicted five future trends that will increase demand for the fast-growing unified communications market and reshape the way businesses and workers communicate and collaborate worldwide.
Information Builders to Sell iWay Universal Adapter Suite for IBM WebSphere Products.
New York, NY - March 10, 2008 - iWay Software, an Information Builders company and an innovator of enterprise integration solutions, today announced that it will sell more than 35 iWay adapters developed on and built for IBM WebSphere technology.
Gartner Says Emerging Technologies Will Marginalize IT's Role in Business Intelligence.
STAMFORD, Conn., March 18, 2008 - By 2012, emerging technologies will make it easier to build and consume analytical applications lessening IT's role in building these applications, according to Gartner, Inc.
Protecting What's Yours: Data Loss Prevention (DLP) Emerges as a Critical Component to Organizations' Overall Information Protection and Control (IPC) Strategy, IDC Says.
FRAMINGHAM, Mass., March 20, 2008 – Information has become the world's new currency, and like any valuable commodity it must be guarded carefully to protect against unauthorized disclosure, loss, or theft. The increased value of digital information, coupled with more stringent government regulations, industry recommendations, and intellectual property protection is driving the adoption of information protection and control (IPC) solutions to protect sensitive information and comply with privacy regulations.
Business of Insurance
The Co-operators studies future climate, social trends.
GUELPH, ON, March 24, 2008 - Environmental and demographic changes could greatly affect the way insurance companies provide products and services in the years and decades ahead, according to a study commissioned by The Co-operators. Entitled The Future of Sustainable Insurance: A Thought Leaders Study, the report outlines the opportunities and threats the insurance industry will face over the next ten years, and outlines the approaches that responsible insurance companies should take to contribute to the betterment of society, the economy and the planet itself.
Marsh CEO Outlines Changing Risks for National Oil Companies.
02.27.2008 - DUBAI -- National oil companies are facing a whole new set of business-critical risks for which they need to be adequately prepared, Dan Glaser, chairman and chief executive officer of Marsh Inc., has warned.
Fitch: 2007 U.S. P&C Insurance Results Solid, But Likely to Fall This Year.
Fitch Ratings-New York-26 March 2008: The U.S. property and casualty insurance industry reported strong results in 2007 that nevertheless fell short of the record net profits and underwriting performance of 2006, Fitch said today.
Consumer Information
The I.I.I. Suggests Five Steps to Prepare For a Disaster.
NEW YORK, February 25, 2008 - There is no time like the present when it comes to sitting down with your family and preparing for the day when you may be forced to evacuate your home, according to the Insurance Information Institute.
New auto insurance year brings 10% rebate from Manitoba Public Insurance.
March 1 marked the beginning of a new insurance year for Manitoba Public Insurance -- and the ninth year out of 10 that rates have remained stable and among the lowest in Canada. During the coming year, Manitobans can also look forward to a 10 per-cent rebate on the Autopac premiums they paid for the 2006-07 insurance year.
from Doug:
A flying visit from our university son on the weekend, who came to Toronto for a friend's birthday. He was here for a couple of hours before heading to the party, and returned two days later in time to pick up his bags for the return trip to school. Maybe next time he will stay longer - just not permanently, I hope.