Issue 2010-01 -- January 5, 2010
This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information about the use of the Internet and related technologies in the industry, insurance products and the marketplace. Some is international, where we feel it is relevant to Canada.
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Participants and Sponsors:
Thanks to Get Insurance Quotes for renewing their annual Consumer & Professional Section advertising program of Logo Ads and Listings in:
Distribution
Aviva Canada Improves Broker Connectivity via Applied Systems' WARP Technology.
December 21, 2009 (Toronto, ON) Aviva Canada Inc., one of Canada?s leading providers of home, auto and business insurance, announced today that broker connectivity with the Aviva Portal will be enhanced via Applied Systems? WARP solution. The new functionality is now available for all Aviva personal lines business transacted in Ontario, the West and Atlantic regions.
Ten years and counting the savings: Canadians find ways to save at Kanetix.ca.
TORONTO, Dec. 17 2009 - Every year, since 1999, Canadians have turned to Kanetix(R) in their search to save money. In 2009, the year that Kanetix celebrates its 10-year anniversary, over 2 million people will visit www.kanetix.ca to explore their insurance and mortgage options. Co-founded by Gregory Ellis and George Small, Kanetix has connected about half a million consumers to the insurance company of their choice when they were ready to buy.
Claims
IBM chosen to build system for electronic health records in Manitoba for improved patient care.
WINNIPEG, MB, December 9, 2009: IBM (NYSE:IBM) today announced a C$22.5 million project with the Government of Manitoba to enhance healthcare throughout the province with the creation of an electronic healthcare records (EHR) system. This technology can offer healthcare providers secure and quick access to pertinent patient information, which can improve the efficiency and quality of patient care while reducing healthcare costs.
Business of Insurance
Gartner CEO and Business-Executive Survey Shows 62 Per Cent of CEOs See IT Having a Key Role in Post-Recession Strategy.
Egham, UK, December 14, 2009 - Sixty-two per cent of CEOs recognise that IT-enabled changes will be a key element in their post-recession strategy, while only 13 per cent disagree, according to a recent survey by Gartner, Inc. Preliminary results from the survey show 42 per cent of business leaders are already focusing more on revenue growth than cost control.
Reference and Statistics
MIB Life Index Reports North American Life Insurance Activity Up 3.9% in November.
Braintree, MA. (December 15, 2009) North American application activity for
individually underwritten life insurance jumped +3.9% in November year-over-year, according to
the MIB Life Indexsm. Solid growth in life insurance applications over the past three months
have lifted year-to-date (YTD) figures from their June 2009 levels of -1.6%, to flat at November's
close, -0.1%.
ISO: Property/Casualty Insurance Industry’s Nine-Month Net Income and Overall Profitability Rebound from Depressed Year-Ago Levels As Claim Costs Fall.
JERSEY CITY, N.J., Dec. 22, 2009 - Private U.S. property/casualty insurers' net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 percent decline to $4.4 billion through nine-months 2008 from $49.6 billion through nine-months 2007. Insurers' overall profitability as measured by their annualized rate of return on average policyholders' surplus (or statutory net worth) increased to 4.5 percent in the first nine months of 2009, having previously fallen to 1.2 percent in the first nine months of 2008 from 13.1 percent in the first nine months of 2007.
eBusiness and Technology
Boardroom Series: What Now for Insurance Technology Investment? Report Published by Celent.
San Francisco, CA, USA - December 21, 2009 - Celent, a Boston-Based financial research and consulting firm, has launched a new client resource called the Boardroom Series. These monthly briefs explore the current challenges faced by insurance companies, helping C-level executives prepare for the next "hard question" their boards of directors are likely to ask. Each brief focuses on a single question, provides Celent's view of the issues behind the question, and defines specific action steps that will position a carrier to deliver an effective response.
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2010 P&C Insurance Technology Conference
"Real Time Insurance: Agile, Integrated and Aligned"
The eighth annual Insurance-Canada.ca P&C Technology Conference Monday 22 February 2010 in Toronto.
Topic: Core Systems
- Jevco Leaps Forward with new Technologies including Web 2.0
- Bryan Harper, Director of IT, Jevco
- Greg Thornton, CEO, Octello
"in 2009 Jevco, in only a few months, replaced their core policy management system and have found improvements in all aspects, from broker support to back end reporting."
More about the topic, and about Bryan and Greg here
- Core System Replacement – Closing the Productivity Gap
- Brian Desmond, Vice President, Marketing – Guidewire
"By freeing insurers from legacy system limitations and by focusing beyond automation, insurers are able to experiment with different processes and business logic, and perhaps most important, they will be able to initiate a continuous process of self improvement."
More about the topic, and Brian, here
Save $100 - Earlybird ends on Jan 15
We will be applying for RIBO credit-hours, in the Management Category.
For program information, event details and all sponsors, see the conference overview and topics and speakers (more to come). Registration
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2010 P&C Insurance Technology Conference
"Real Time Insurance: Agile, Integrated and Aligned"
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The eighth annual Insurance-Canada.ca P&C Technology Conference Monday 22 February 2010 in Toronto.
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Keynote Speaker:
- Hope and Optimism: The Insurance Industry of 2010
- Kimberly Harris-Ferrante, Vice President and Distinguished Analyst, Gartner - Insurance Industry Advisory Services
"While 2009 was a difficult year for most insurance companies, most are entering 2010 with hope and optimism. Focus on transformation is back again and IT budgets more plentiful than in the prior year. As a result, 2010 is anticipated to be a year of heightened investment in innovation, competitive differentiation, and business transformation. This presentation will highlight hot topics for 2010 and key initiatives that leading insurers will be investing in to get ahead of the curve."
Kimberly's insight into current status and short-term actions the last two conferences was greatly appreciated by the delegates.
For more about Kimberly, go here
Continuing Broker Education: We will be applying for RIBO credit-hours, in the Management Category.
For program information, event details and all sponsors, see the conference overview and topics and speakers (more to come). Registration
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Platinum Sponsors
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Marketing and the Market Place
Canadian investors: shaken, cautious, but optimistic - Standard Life.
MONTREAL, Dec. 10 2009 - According to results from a recent survey sponsored by Standard Life and conducted by the Gandalf Group, Canadian investors reveal that their confidence has been shaken by the recent financial market crisis, but most still expect to make solid gains over the next 12 months. But their view is still very much long term, since their primary investment objective is having enough money for retirement.
Small Businesses Step Up Online: eMarketer.
DECEMBER 21, 2009 Like their larger counterparts, small businesses will be doing even more marketing online in 2010, according to studies from Vistaprint and Ad-ology. Vistaprint found that small businesses would be increasing marketing activities in social media, online and search advertising, and e-mail most in the next year, with e-mail marketing currently their top tactic.
How Can Social Media Help Small Biz? - eMarketer.
DECEMBER 24, 2009 - Small businesses are set to increase the time and effort they spend on social media marketing, but research on its effectiveness has been mixed. In a survey from Citibank, for example, the majority of small-business executives found social networks no good for expanding their business.
Insurance in the Community
The Cowan Foundation contributes its second $1 million to strengthen Heart and Stroke Foundation?s Automated External Defibrillator (AED) Program.
The Heart and Stroke Foundation (HSF) has announced a $1 million contribution by The Cowan Foundation to its national Heart&Stroke Restart a Heart, Restart a Life™ Automated External Defibrillator (AED) program. The contribution will support the purchase, allocation, training and installation of AEDS in public places across the country. This represents the second million dollar donation from The Cowan Foundation to support the program.
Consumer Information
'Twas the crime before Christmas: Don't let grinches ruin your holidays - BCAA.
BURNABY, BC, Dec. 17 2009 - Many British Columbians will unfortunately learn that the "clatter on the lawn" may be not be Santa this Christmas, but the sound of a vehicle or home being broken into. With some good security sense however, BCAA is confident that home and vehicle owners can avoid grinches looking to steal Christmas this year.
Costly lessons from 2009: Insurance Bureau of Canada announces year's costliest extreme weather events.
TORONTO, Dec. 22 2009 - The severe weather that marked 2009 has been as costly as it has been unpredictable, according to Insurance Bureau of Canada (IBC). And it has brought home the lesson that urgent action is needed throughout the country to manage the impact of climate change.
Are Canadians changing their drinking and driving habits?: TIRF Poll.
OTTAWA, Dec. 22, 2009 - A new poll by the Traffic Injury Research Foundation (TIRF) reveals that Canadians may be changing their habits regarding driving after drinking. The public opinion poll conducted in September investigated how many Canadians drove after drinking in the last year.
Our People
A Better Place for You: The Co-operators Ranks Among Canada's 50 Best Employers.
GUELPH, ON, Dec. 30 2009 - The 2010 "50 Best Employers in Canada" list was released today, and for the seventh consecutive year The Co-operators is well represented. International human resources firm Hewitt Associates compiles the list annually, using results of confidential surveys completed by employees.
from Doug:
We had a small but good family Christmas celebration. Otherwise during the break, we spent much time preparing part of the house for contractors to do some work, and that is underway. My office is now empty, the first time things have been moved in about twenty years. It is quite amazing how many things can be buried under other more recent items, and long-forgotten. I have not yet tossed as much as I should have. Now it is a new year, I will try again.
With the new year now underway, we at Insurance-Canada.ca wish you the best in 2010.
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