Issue 2010-02 -- January 12, 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 Genworth Financial Canada for renewing their annual Consumer Section advertising program with a Banner Ad, Logo Ad and Listing in:
Claims
LWG Consulting Announces Launch of Singapore Office.
NORTHBROOK, IL (U.S.) - LWG Consulting, Inc., the leading worldwide provider of technical expertise following equipment or systems failure and property damage, announces the launch of a new office in Singapore. This office opening, which will serve the Asian market, marks the second straight year in which LWG has launched an international office; last year, LWG opened an office in London, UK.
SPECS Limited Opens New Branch Office in Regina, SK.
Edmonton, AB - January 6, 2010 - SPECS Limited, the country?s leading provider of independent property damage valuations and cost control services has opened a new office in Regina, SK. The strategic location and the placement of Marc Poissant, Office Manager, whose extensive knowledge of the construction and restoration markets, will allow the company to better serve its insurance clients in the Saskatchewan market.
J.D. Power and Associates Reports: Overall Customer Satisfaction with the Home Claims Experience is Notably Lower than Satisfaction with Auto Claims.
WESTLAKE VILLAGE, Calif.: 22 December 2009 - Satisfaction among homeowners insurance customers who file a property claim is significantly lower than that of auto claimants, according to the J.D. Power and Associates 2009 Home Claims Satisfaction StudySM released today. The study finds that customer satisfaction with the home claims experience averages 828 on a 1,000-point scale. In comparison, satisfaction with the auto claims experience averages 842, according to the J.D. Power and Associates 2009 Auto Claims Satisfaction StudySM released in November.
IVANS Reports 165% Growth in Claims Download to Agents as Property-Casualty Invests in Customer Service Initiatives.
Stamford, CONN. - November 23, 2009 - Over the last 12 months, the number of insurance agents using claims download technology grew 165%, according to industry reports from IVANS, Inc. As property-casualty carriers compete in a lackluster economy with increased regulatory oversight, claims download technology is providing a welcome avenue for quickly impacting the bottom line through improved customer service and operational efficiency.
Our People
MCCG Seeks Vice-President of Client Relations.
The Mutual Concept Computer Group Inc. (MCCG) seeks a Vice-President of Client Relations (VP) who will report directly to the President/Chief Executive Officer. MCCG is a mutually owned software development and support company and leading provider of Backoffice solutions for Farm Mutual Insurance Companies across Canada. The Insurance Business Solution Platform (IBS™) suite of products delivers unsurpassed functionality and dramatically enhances the way clients do business. The London head office is in Canada?s 10th largest city.
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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Earlybird ends Jan 15 - Save $100, Register today
Topic: Getting Results from Broker-Company Integration
- IBAC's Data Exchange Pilot Project: Brenda Rose and Sheldon Wasylenko, IBAC Technology Champions
- ORBiT Update: Wendy Watson, Precept Group
- CSIO: Steve Kaukinen, President CSIO
- USA ACORD and AUGIE: Cal Durland
Topic: Responding to Broker Challenges
- Internet and Marketing: Denny Edwards, carinsurance.ca and Martin Eising, healthquotes.ca
- The 21 Day Challenge: Doug Johnston, Applied Systems
- Getting the Most from Your BMS: Broker-Vendor Panel
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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Managing Relationships and Customer Service
P&C Insurers Embracing Stand-Alone Billing Systems and Total Market Grew 27% from 2008 to 2010, says new Novarica Report.
January 4, 2010 (NEW YORK) - According to a new report released today by Novarica, a research and advisory firm focused on insurance business and technology strategy, P&C insurers have continued to turn to the vendor market for billing systems, with the customer bases of the top 12 systems expanding by 27% over the past two years.
Distribution
Excellence in Distribution: External Wholesaling - Kasina.
New York, (December 10, 2009) - In the brutally competitive battle for market share, external wholesalers have been on the front lines. Their compensation waned as asset levels declined. And, they now are selling to an audience of advisors with diminished brand loyalty, changed expectations, and a stated desire for more substantive (not more frequent) support.
Marketing and the Market Place
More Canadians focus on debt going into 2010: Manulife poll.
WATERLOO, ON, Jan. 5 2010 - After three straight quarters of rising interest in investments, more Canadians say they're focused on paying down debts as they head into the New Year, according to a national poll for Manulife Financial, Canada's leading insurance and wealth management company. Those who say their top priority is to pay down credit cards, lines of credit and mortgages hit a five-year high in Manulife's poll, conducted in mid-December by Research House, an Environics Company.
2010 Predictions Round-Up: eMarketer.
DECEMBER 31, 2009 - Over the course of December eMarketer weighed in with predictions for 2010 trends in several key areas. The following are a few highlights. Seven predictions from eMarketer CEO Geoff Ramsey. Ad dollars will continue to accelerate their move from traditional to digital, though aggregate media spending will fail to return to former levels. Marketers will be emphasizing deeper engagement and earned media.
ADVERTISEMENT
MCCG seeks Vice-President of Client Relations
Mutual Concept Computer Group Inc. seeks a Vice-President of Client Relations responsible for building and maintaining current client relationships and generating new opportunities through marketing and business development initiatives.
MCCG is a software development and support company and leading provider of Backoffice solutions for Farm Mutual Insurance Companies across Canada. See more information and the full advertisement at www.mccg.net
Business of Insurance
Co-operators Life Insurance Company and Central 1 Credit Union complete acquisition of The CUMIS Group Limited.
BURLINGTON, ON, Jan. 4 2010 - Co-operators Life Insurance Company and Central 1 Credit Union announced today the completion of their acquisition of The CUMIS Group Limited of Burlington, Ontario. The transaction was completed on December 31, 2009. Upon execution of agreements between Co-operators Life and Central 1, expected to be completed by March 31, 2010, The Co-operators group of companies will own approximately 73 per cent and Central 1 will own approximately 27 per cent of CUMIS.
AIG's United Guaranty Canada Acquired by Canadian Owners Led by OTPP.
TORONTO (January 5, 2010): A private investor group, in which Ontario Teachers' Pension Plan ("Teachers'") is the lead sponsor, has entered into a definitive agreement to acquire American International Group, Inc.'s ("AIG") Canadian mortgage insurance business, AIG United Guaranty Mortgage Insurance Company Canada ("United Guaranty Canada"). Terms of the transaction were not disclosed.
Consumer Information
Manitoba Public Insurance's Top Five frauds for 2009.
A vehicle owner who made a bogus auto theft claim. A caregiver who cared for no one. An impaired driver who claimed he had only one drink. These three individuals demonstrated there's no lack of imagination - or sheer nerve - when it comes to committing auto insurance fraud. And their misguided efforts earned them a placing on Manitoba Public Insurance's 2009 list of Top Five Frauds, a dubious honour bestowed annually to heighten awareness that committing auto insurance fraud is not a wise decision.
IIHS: New booster ratings: 9 best bets & 6 good bets.
ARLINGTON, VA ? New ratings from the Insurance Institute for Highway Safety take the guesswork out of selecting boosters most likely to provide good lap and shoulder belt fit in a range of vehicles. The Institute rates 9 belt-positioning boosters BEST BETS, and 6 are GOOD BETS out of 60 models examined in a new round of evaluations. Eleven boosters aren't recommended at all because they do such a poor job of fitting the belt. Fit is important because safety belts are designed with adults in mind, not kids. Boosters elevate children so belts will fit their small frames better to protect them in a crash.
IIABA: Is Your Home Ready for Winter?
ALEXANDRIA, VA, Dec. 14, 2009 - Is your home ready for winter weather? Many consumers don?t realize that lack of preparation could mean unwelcome home damage and unexpected repair expenses. To help families and businesses protect themselves against winter risks and enjoy the season, Trusted Choice®, the consumer branding program for independent insurance agents and brokers, and the Independent Insurance Agents & Brokers of America (IIABA or the Big "I"), offer tips that can help families prepare for risks and hazards that may come during the winter months.
Insurers Encourage USA Consumers to "Go Green" By Creating New Products and Services: III.
NEW YORK, December 14, 2009 - The United Nations Climate Change conference being held in Copenhagen this month is a reminder of the wide range of new insurance products and services available to people interested in "going green," according to the Insurance Information Institute (I.I.I.).
Insurance in the Community
The Co-operators Provides $47,000 to Help Students Make an Impact!
GUELPH, ON, Jan. 5 2010 - As the world's attention has been focussed on Copenhagen and the global problem of climate change in recent weeks, Canadian students have been taking action to boost the health of the environment on their campuses, in their communities, across the country and beyond. Twelve exceptional post-secondary students who participated in Impact!: The Co-operators Youth Conference for Sustainability Leadership have received a total of $47,000 to support their environmental projects.
from Doug:
We are having a great time getting the Technology conference on Feb 22 together, but together it is coming. As usual, we are ahead on a few things and behind on a few others, but at the moment it looks like the strongest agenda we have fielded yet. The speakers have put their best topics forward. For those attending, we believe it will be a rewarding day. If you are attending, I look forward to seing you there. But, putting it together is a lot of work, and fun, and the sense of acccomplishment is rewarding too.
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