Issue 2008-24 -- June 17, 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.
Distribution
Les Assurances Gaudreau, Demers et Associes Inc. the first brokerage to electronically download of a commercial insurance quotation in Canada: Policy Works.
Calgary, Alberta - Policy Works Inc. is pleased to recognize Les Assurances Gaudreau, Demers et Associes Inc. for having successfully completed the first ever electronic download of a commercial insurance quotation in Canada using the Centre for Study of Insurance Operations (CSIO) XML standards. On April 9th, 2008, a commercial insurance quotation was downloaded from ING's GoBrioTM web-quoting site into Les Assurances Gaudreau, Demers et Associes' Policy Works system using the Policy Works eMarketing functionality.
Hub International Acquires Managing General Agency Assets of Falkenberg Agencies.
Chicago June 7, 2008 - Hub International Limited announced today that Hub Financial Inc. (HUB Financial) has acquired the Managing General Agency assets of Falkenberg Agencies Ltd. (Falkenberg), a British Columbia-based agency specializing in life and investment products. Terms of the transaction were not disclosed. The existing brokers at Falkenberg will continue to do business with HUB Financial.
Assurex Global Adds Canadian Firm, The Magnes Group Inc., to Worldwide Partner List.
COLUMBUS, OH (June 11, 2008)-Following an extensive due diligence process, The Magnes Group, Inc. of Ontario, Canada, has been accepted into the international partnership ranks of Assurex Global, the world's largest privately held risk management, commercial insurance and employee benefits brokerage group.
Policy and Product Management
The Co-operators to Replace Core Systems with Guidewire.
GUELPH, ON, CANADA and SAN MATEO, CA, USA, June 12, 2008 - The Co-operators Group Ltd. (The Co-operators), the leading Canadian-owned, multi-product insurer (with over CAD $7 billion in assets), and Guidewire Software®, a leading global provider of solutions to property and casualty insurers, today announced that The Co-operators has selected Guidewire PolicyCenter® and Guidewire BillingCenter® in addition to its 2007 selection of Guidewire ClaimCenter®.
SunGard Launches WealthStation 3.0 For End-to-End Wealth Management Capabilities.
Salt Lake City, UT - Jun 10, 2008 - SunGard today unveiled enhancements to its WealthStation wealth management platform to help firms attract, service and grow client relationships. WealthStation 3.0 includes: a dashboard for viewing client and account activities; intuitive workflows across each step of the wealth management continuum to help improve productivity; data sharing across applications to help streamline processes; and the integration of trading, rebalancing and house holding capabilities.
Business of Insurance
Cognos Launches New Book on Proven Practices In Insurance Performance Management.
Property & casualty (P&C) and life insurance companies are undergoing significant changes in the way they do business. They are now focusing on operating to a profit, specifically in their underwriting practices, while maintaining better control over their aggregate exposures to loss. These two very distinct business challenges share a common denominator – the need for complete, accurate, ready-access business information that can help management and executives make timely business decisions to manage risk exposure, meet regulatory demands, and maximize underwriting to profit.
Royal & SunAlliance becomes RSA.
TORONTO, June 10 2008 - Royal & Sun Alliance Insurance Company of Canada, the leading home, car and business insurer has refreshed and updated its corporate brand and will now simply be known as RSA.
Ontario Auto Insurance Five Year Review: FSCO.
June 3, 2008, Toronto -- The Superintendent of Financial Services has responsibility for carrying out a review of Part VI of the Insurance Act (the Act) dealing with Automobile Insurance. The Superintendent requests submissions from stakeholders to inform and assist with this review.
eBusiness and Technology
IBM Empowers Business People With Customized Web 2.0 Software.
ARMONK, N.Y. - 05 Jun 2008: Today, IBM (NYSE: IBM) announced IBM Mashup Center will be hosted as a free trial on the Web with which non-technical business people can use to experiment and build customized mashups following the success of early corporate adopters Boeing Corporation (NYSE: BA) and Carrefour Group (PARIS: CA).
ACORD Launches Implementation Forum This October.
LAS VEGAS, NV - MAY 13, 2008 - Bringing people together with common interests and concerns is an essential element in driving ACORD standards implementation. To support this initiative, ACORD is launching a new fall event and forming online "communities."
Gartner Identifies Top Ten Disruptive Technologies for 2008 to 2012.
MELBOURNE, Australia, May 28, 2008 - Social networking technologies, web mashups, multicore and hybrid processors and cloud computing are amongst the ten most disruptive technologies[1] that will shape the information technology (IT) landscape over the next five years, according to research and advisory firm Gartner, Inc.
Enhanced Self-Service Load Testing Solution from Gomez Helps Businesses Deploy Web Applications with Confidence.
Lexington, Massachusetts - May 27, 2008 - Gomez, Inc., a leading provider of web experience management services, today introduced an updated version of its self-service load testing solution, Reality Load XF. Part of the Gomez® ExperienceFirst? platform, Reality Load XF combines traditional high volume web application load testing with broad geographic end-user experience testing, generating real-world, browser-driven traffic from a global network of over 40,000 locations.
Claims
GEICO's national team of claims counselors now using Guidewire ClaimCenter® to maximize customer service.
SAN MATEO, California, June 10, 2008 - Guidewire Software®, a leading global solution provider to property and casualty (P&anp;C) insurers, today announced that GEICO, the fourth-largest private passenger auto insurer in the United States, has deployed Guidewire ClaimCenter, a market-leading, modern claims system. GEICO's national team of claims counselors across the country are now using Guidewire's intuitive, Web-based claims solution to help provide a smoother and shorter loss reporting process for GEICO's policyholders.
Consumer Information
IIHS : Teen drivers often ignore bans on using cellphones and texting.
ARLINGTON, VA - Teenage drivers' cellphone use edged higher in North Carolina after the state enacted a cellphone ban for young drivers, a new Institute study finds. This is the case even though young drivers and their parents said they strongly support the restrictions. Parents and teens alike believe the ban on hand-held and hands-free phone use isn't being enforced. Researchers concluded that North Carolina's law isn't reducing teen drivers' cellphone use.
Honours and Awards
LOMA Canada Awards Assumption Life, AEGON Canada and Desjardins Financial Security for Best Practices in Learning and Development.
TORONTO, June 12, 2008--LOMA Canada presented Assumption Life, AEGON Canada and Desjardins Financial Security with the 2008 National Corporate Awards for Best Practices in Learning and Development at LOMA Canada's Annual Conference at the Metro Toronto Convention Centre today. The Awards are dedicated to the memory of Andre Mailhot, who was Vice-President and General Manager, Human Resources, Industrial-Alliance Life Insurance Company.
from Doug:
After a hiatus of a year and a half from a daily exercise program, I have taken to a morning bike ride. In the heart of Toronto we live only two blocks of quiet residential street from the Don Valley. Although the valley shares its space with the Don River, the Don Valley Parkway and a rail line which has light commuter and freight traffic to the north, the bike and walking path is a heavily-wooded oasis from the concrete jungle. I am amazed at the number of people who use the facility and the amount of wildlife, especially birds, I encounter each day. The trail is part of a city network which stretches along the waterfront and back through many parts of the city through a variety of mostly ravines which are now designated park land. So far, a good break from the daily grind - will see how long my self discipline lasts.