Issue 2010-29 -- July 20, 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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Thanks to Xactware for renewing their annual Professional Section advertising program with a Logo Ad and Listing in:
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Policy and Product Management
Marshall & Swift/Boeckh Launches the InFocus Solutions Suite To Diagnose and Fix Key Problems for Property Insurers.
MILWAUKEE, WI - June 28, 2010 - Marshall & Swift/Boeckh ("MSB") has launched an integrated suite of business intelligence solutions that will allow property insurers to rapidly diagnose potential concerns and act on opportunity areas within their books of business. The integrated suite is called InFocus Solutions. MSB has identified six important opportunity areas that property insurers' need to clearly understand and decisively act upon to help fuel measurable improvements in profitability.
Duck Creek™ Announces Acquisition of Duck Creek Europe.
BOLIVAR MO - July 14, 2010 -- Duck Creek Technologies, Inc., a provider of
innovative software and services to the insurance industry, announced today its expansion through the completed acquisition of Duck Creek Technologies Europe Ltd. (Duck Creek Europe).
Hazardous research needed: Lloyd's.
Wed 23 Jun 2010 - Wanted: talented scientists to help Lloyd's, the world's largest specialist insurance market, better understand risks. Up to £5000 reward! Lloyd's first annual Science of Risk prize is seeking risk-related research from PhD students or Post-Doctoral research staff.
Distribution
Custom Software Solutions Products Now Integrated With IFS Financial Services Inc.
July 2010, Virden, MB and Dartmouth, NS - Custom Software Solutions Inc. (CSSI) and IFS Financial Services Inc. are pleased to announce they have entered into a connectivity agreement which sees CSSI?s The Broker?s Workstation (TBW), and stand alone rating and underwriting system, Intelliquote (IQ) integrate with IFS?s online Broker financing system.
Ontario Brokers To Be On High Alert for Possibility of Cheque Fraud in Their Brokerages: IBAO.
(Toronto), July 12th, 2010. Today, the Insurance Brokers Association of Ontario (IBAO) is asking brokers to be on alert for fraudulent activity due to several recent reports of cheque fraud. The incidents seem to have a common thread, and occur when the brokerage is shipping a payment to an external payee, using window envelopes.
Claims
July 2010 Price List Update Now Available: Xactware.
OREM, Utah - Jul. 1, 2010 - The July 2010 price list updates for over 460 regions in the United States and Canada are now available for download. Pricing research for the July 2010 publication shows that the Labor and Material report, which measures common material and labor used in claims and remodeling, decreased in both the United States and Canada.
eBusiness and Technology
SAS® innovation revolutionizes agile decision-making.
The Premier Business Leadership Series-Berlin (Jun. 23, 2010) - SAS, the leader in business analytics, is introducing advanced high-performance computing technology to help enterprises harness the astronomical growth of raw data for quick and accurate business decisions. In this increasingly turbulent economy, better, faster decisions can tip the balance between growth and extinction.
Gartner Global IT Council for Cloud Services Outlines Rights and Responsibilities for Cloud Computing Services.
STAMFORD, Conn., July 12, 2010 - All cloud services customers should have some basic rights to protect their interests, and Gartner, Inc.'s Global IT Council for Cloud Services has defined six rights and one responsibility of service customers that will help providers and consumers establish and maintain successful business relationships.
Our People
CNS funds unique IBABC broker training program.
July 5, 2010 - Leading BC insurer CNS is pleased to announce its latest investment in the broker channel. CNS (part of RSA Canada) has made a $250,000 contribution towards the Insurance Brokers Association of BC's (IBABC) New Broker Essential Skills certificate program.
Business of Insurance
Industrial Alliance Given Management of AkzoNobel Canada Employee Pension Plans.
QUEBEC CITY, July 13 2010 - Industrial Alliance Insurance and Financial Services Inc. was chosen by AkzoNobel Canada to manage the pension plans for some 2,300 Canadian employees working in the paint and chemical product sector. These new plans take effect in July 2010.
Product Announcements
Empire Life announces two new funds available in Class Plus™ to help Canadians reach their retirement goals.
July 14, 2010 - Kingston, Ontario - The Empire Life Insurance Company (Empire Life) today announced two new segregated funds available in Class Plus, its guaranteed minimum withdrawal benefit feature within its Empire Class Segregated Funds product.
Consumer Information
Saskatoon reports impaired drivers: SGI.
June 28, 2010 - Saskatoon residents are doing their part to make their city and roads safer by taking advantage of the new Report Impaired Drivers (RID) program. Since the program was launched in March, the Saskatoon Police Service responded to close to 750 calls reporting suspected impaired drivers. The calls resulted in 45 impaired driving charges being laid.
Reference and Statistics
Auto Insurance Rates for the Second Quarter of 2010: FSCO.
The Government has passed regulations to enact automobile insurance reforms effective September 1, 2010. The reforms will provide consumers with more choice and flexibility to purchase coverage that best meets their protection needs and budgets.
New Swiss Re sigma study "World insurance in 2009" reveals slight premium dip but improved capital.
Zurich, 29 June 2010 - According to Swiss Re's latest "World insurance in 2009" sigma study, world insurance premium volume fell 1.1% on an inflation-adjusted basis. Life premiums fell 2% while non-life stagnated. Premium growth in the emerging markets slowed but remained positive. The industry's profitability and capital recovered significantly, but have not yet reached pre-crisis levels.
Marketing and the Market Place
Double-Digit Growth Again for Double-Digit Growth Again for Online Ad Spend: eMarketer.
JULY 13, 2010 - The economy suffered around the world in 2009, but the online advertising market showed its resistance to the recession. While total media spending dropped, online ad spending increased by 2% to $55.2 billion. eMarketer forecasts that 2010 will bring a return to double-digit online ad growth, with global spending set to reach $61.8 billion. Growth will continue at rates of over 10% each year through 2014.
from Doug:
Today we move the remainder of our large items and a bunch of smaller items to our new home. I am about to reap what I have not sown - by procrastinating instead of reducing 30 boxes of things which came out of my old office, my new office will be chuck full. I may have to reduce those in order to find my computer, telephone and desk. If you don't hear from me for a couple of weeks....
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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