Issue 2010-26 -- June 29, 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 Windsor Investigation Services for renewing their annual Professional Section advertising program with a Logo Ad and Listing in:
Thanks to Novinsoft for renewing their annual Professional Section advertising program with a Logo Ad and Listing in:
Distribution
Gore Mutual Launches Innovative Business Model.
June 24, 2010 - Gore Mutual Insurance Company is excited to announce the launch of an innovative commercial business model that makes it easier to do business. On June 14th, 2010, Gore Mutual began piloting a new system called Quick Connection, and saw immediate adoption by both brokers and their clients. In an industry that traditionally uses vast amounts of paper and has a measurable environmental impact, Gore Mutual now provides a paperless online service.
Accident and Critical Illness Top the Voluntary Industry's List of Growth Products according to Eastbridge Study.
AVON, CONNECTICUT, USA (June 10, 2010) - Once again, voluntary critical illness was selected by carriers as likely to be one of the industry's top three growth products over the next few years. The study, Voluntary Product Trends, is conducted every other year by Eastbridge Consulting Group, Inc.
eBusiness and Technology
"The Time is NOW!" says the Canadian Life Insurance industry group: CLIEDIS.
TORONTO. June 22, 2010 - What has been happening since CLIEDIS held the Executive Summit in January 2010? That is what attendees at CLIEDIS' eleventh annual seminar, Bridge to the Future, were interested in hearing about. Over one hundred members of the life insurance industry from across Canada, and even some from the US, came together to find out the latest news.
Gartner Says Worldwide Cloud Services Market to Surpass $68 Billion in 2010.
STAMFORD, Conn., June 22, 2010 - Worldwide cloud services revenue is forecast to reach $68.3 billion in 2010, a 16.6 percent increase from 2009 revenue of $58.6 billion, according to Gartner, Inc. The industry is poised for strong growth through 2014, when worldwide cloud services revenue is projected to reach $148.8 billion.
IBM Advances Analytics with Acquisition of Coremetrics.
ARMONK, N.Y. - 15 Jun 2010: IBM today announced a definitive agreement to acquire Coremetrics, a leader in web analytics software. Coremetrics, a privately held company based in San Mateo, CA, will expand IBM's business analytics capabilities by enabling organizations to use a cloud-based delivery model to gain real-time insight into consumer interactions internally and through social media networks to develop faster, more targeted marketing campaigns. Financial terms were not disclosed.
Consumer Information
MyChoiceCarInsurance.ca - Understanding Your Car Insurance Choices in Ontario: The Dominion of Canada General Insurance Company.
TORONTO, June 22 2010 - Today marks the official launch of MyChoiceCarInsurance.ca, a new website designed to help assist Ontario drivers make sense of their automobile insurance choices. This site comes to the aid of consumers just in time, as government-mandated changes affecting car insurance arrive on September 1st of this year.
Get in Gear with Brake Safety: IBAO urges Ontarians to get their car serviced in preparation for summer road travels.
Toronto (Ontario), June 18, 2010. Today, the Insurance Brokers Association of Ontario (IBAO) is urging Ontarians to visit their local automobile service centre to ensure their vehicle is properly serviced before embarking on summer travels. After a rough winter on the slippery roads, it is important to check in with your mechanic to ensure that your car is in top condition for this ideal driving season.
Canadian Earthquake Offers Critical Reminder of U.S. Vulnerability to This Type of Disaster: I.I.I..
NEW YORK, June 25, 2010 - The 5.0 earthquake that struck the Ontario-Quebec border region of Canada and was felt in Vermont, parts of upstate New York and as far away as Ohio, Illinois and Indiana on Wednesday, June 23, is a stark reminder of the vulnerability of the United States to this type of disaster.
Marketing and the Market Place
Manulife Investor Sentiment Index eases slightly.
WATERLOO, ON, June 25 2010 - Some Canadians have lost a bit of their optimistic edge from earlier this year, according to a national poll for Manulife Financial, Canada's leading insurance and wealth management company. The 46th quarterly Manulife Investor Sentiment Index in mid-June lost just slightly more than half of its record gain in March, when most economic signals pointed upward.
CIAB Survey Shows U.S. Group Health Rates Rising and Employers Looking for Ways to Cut Costs.
WASHINGTON, D.C. June 2, 2010 - With health care reform now the law, renewal rates are increasing significantly and employers are looking for ways to cut the cost of group medical benefits. "Several members commented that they are seeing large increases," said Ken A. Crerar, President of The Council of Insurance Agents & Brokers. Crerar noted that, "brokers have some uncertainty about business going forward, but most believe there will be new demand for their services."
Mobile Social Networking Drives Rising App Usage: eMarketer.
JUNE 17, 2010 - As smartphone usage grows, users are also becoming more sophisticated and using apps at a higher rate. According to comScore?s MobiLens study, the total number of mobile app users in the US increased by 28% from April 2009 to April 2010. Several app categories saw usage grow much faster. Social networking apps grew their user base by 240% during the period, to more than 14.5 million mobile users. Other categories boasted even more users, including weather apps at more than 18 million and maps at about 16.8 million.
Business of Insurance
The Co-operators Ranked No. 2 Among Canada's Best 50 Corporate Citizens.
GUELPH, ON, June 22 2010 - The Co-operators Group Ltd. has been ranked No. 2 among the 50 Best Corporate Citizens in Canada by Corporate Knights, an organization that promotes socially responsible entrepreneurship. The list, which was announced today, is based on an evaluation of environment, social and governance indicators.
Property/Casualty Insurers Returned to Profitability in First-Quarter 2010 Despite Continuing Declines in Premiums: ISO.
JERSEY CITY, N.J., June 23, 2010 - Private U.S. property/casualty insurers' net income after taxes swung to positive $8.9 billion in first-quarter 2010 from negative $1.3 billion in first-quarter 2009. Insurers' overall profitability as measured by their annualized rate of return on average policyholders' surplus (or statutory net worth) increased to positive 6.7 percent for the first quarter of 2010 from negative 1.2 percent for the first quarter of 2009.
Wellness Goes Global as CIGNA Helps Companies Launch Multilingual, Multicultural Programs.
BLOOMFIELD, Conn., May 13, 2010 - As companies increase their global footprint with operations in multiple countries, CIGNA is offering a uniform but localized health and wellness program for multinational companies whose employees are citizens of the countries where they work.
Managing Relationships and Customer Service
Investors: Show Me My Returns -- and Fees - DALBAR releases study of Investor Statement Preferences.
Boston, MA. May 24, 2010 - DALBAR, Inc. announced today the release of its national study of what investors expect to see in a statement from financial services companies.
DALBAR's Investor Statement Preferences study identifies the importance of certain elements in
investment and benefit statements.
from Doug:
We live about five blocks from Allan Gardens and beyond it another six blocks is the intersection of Yonge and College, then Bay and College and then Queen's Park. On Sunday mid-morning, when we had tickets to view the The Warrior Emperor and China's Terracotta Army exhibit at the ROM, we walked that path on our way. In Allan Gardens park there were perhaps a half dozen people, and along Carlton/College, the only evidence of a previous day gone bad were the plywood window replacements in a number of storefronts. Before the event, on Thursday, we drove through the heart of the security zone. The fence was big and ugly; police were everywhere. On Saturday morning I visited the St Lawrence Market where the usual hustle and bustle was missing as were maybe three quarters of the vendors. From the perspective of our home perhaps fifteen bocks from the security zone (a 30 minute walk), other than the media coverage, this was little different than most busy summer weekends.
To those in the midst of it - residents, businesses and participants - I am sure the G20 was an entirely different story.
The Chronicle is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly by Insurance-Canada.ca Inc., 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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