Issue 2010-30 -- July 27, 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 FBA Consulting Group for renewing their annual Professional Section advertising program with a Logo Ad and Listing in:
Thanks to Get Insurance Quotes for renewing their annual Consumer Section advertising program with a Logo Ad and Listing in:
Distribution
Keal Technology Completes Software Changes for Ontario Auto Reforms.
TORONTO, Ontario, Canada - July 20, 2010 - Today, Keal Technology, software provider for Canadian insurance brokers, announces they have completed software development required to support brokers through the amended Automobile Insurance Regulations in Ontario taking effect September 1, 2010.
Custom Software Solutions Products compliant with Ontario Auto Reform.
July 12, 2010 - Custom Software Solutions Inc. is pleased to announce that their The Broker's Workstation (Broker Management System) and IntelliQuote (rating and underwriting) products are fully compliant with the upcoming Ontario Auto Reform changes taking place for September 1, 2010. Work has been completed on the new mandated Application.
Claims
Sun Life planting the seeds for more paperless claims.
TORONTO, July 22 - Sun Life Financial recently concluded a two-month campaign to educate clients about the benefits of reducing paper use in the claims process. Between May 3 and June 27, 2010, over 50,000 Group Benefits plan members registered for direct deposit and paperless claim statements, furthering Sun Life's success in corporate sustainability practices.
Policy and Product Management
Fast, Successful Implementation of Duck Creek Rating™ for Millers Mutual Group.
BOLIVAR MO-July 22, 2010 -- Duck Creek Technologies, Inc., a provider of innovative software and services for the insurance industry, announced the completion of the first phase of an IT modernization project, which has enabled Millers Mutual Group agents and internal personnel to quote and submit policy data through an internet portal.
Managing Relationships and Customer Service
CIGNA: Delivering an Outstanding Customer Experience One Customer at a Time. And Winning Awards for It.
29 June 2010 - BLOOMFIELD, Conn., June 29, 2010 - As a follow-up to its first place award for an exemplary customer strategy at last year's Gartner Customer Relationship Management Summit, this year CIGNA earned the Silver Award for delivery of an excellent customer experience at the 2010 Gartner & 1to1 Media Customer Relationship Management Excellence Customer Award.
eBusiness and Technology
Solvency II Under the Bonnet: Building the Risk IT Architecture that Serves Your Business Strategy: Report Published by Celent.
London, United Kingdom - July 08, 2010 - A gap has opened up at most insurers between the expectations for IT's provision of risk-based measures into business as usual, and what is actually being delivered by their Solvency II programmes. In Solvency II Under the Bonnet: Building the Risk IT architecture that serves your business strategy, Oliver Wyman identifies the four most frequent challenges that underlie this risk-technology gap:
Business of Insurance
Industrial Alliance Concludes Acquisition of American-Amicable.
Quebec City, July 20, 2010 - Industrial Alliance Insurance and Financial Services Inc. announced today that it has concluded the acquisition of all the outstanding shares of American-Amicable Holding, Inc. The transaction was announced on April 28, 2010 and closed on July 20, 2010. American-Amicable will operate as part of the Company's wholly-owned U.S. subsidiary IA American Life Insurance Company.
Hewitt Associates, Inc. to Merge with Aon Corporation.
CHICAGO, July 12 2010 -- Aon Corporation and Hewitt Associates, Inc. announced today that the boards of directors of both companies have approved a definitive agreement under which Hewitt will merge with a subsidiary of Aon. The aggregate consideration is valued at $50 per Hewitt share, which represents a 41% premium to Hewitt's closing stock price on July 9, 2010, the last trading day prior to the announcement of the agreement. The aggregate fully diluted equity value of the transaction is approximately $4.9 billion, consisting of 50% cash and 50% Aon stock (based on the closing price of Aon common stock on July 9, 2010).
Average Customer Profitability Still Down at Big Retail Banks Following Financial Crisis; Consumers More Price Sensitive and 'Shopping Around,' Accenture Survey Finds.
LONDON and NEW YORK; July 19, 2010 -- A majority of executives at leading retail banks globally say average customer profitability has remained below pre-crisis levels, while their customers' price-sensitivity and inclination to 'shop around' have increased, according to an Accenture survey.
Marketing and the Market Place
Controlling Cost of Claims Seen as Critical, According to Towers Watson Survey.
NEW YORK, July 14, 2010 - Corporate risk and finance managers, faced with the lingering effects of a global financial crisis, dramatically downsized staffs and reduced budgets are becoming increasingly concerned about managing those expenditures as part of their total cost of risk, according to a survey conducted by global professional services company Towers Watson.
The Co-operators takes home three advertising awards.
GUELPH, ON, July 20 2010 - The Co-operators recently received three awards at the 52nd annul Insurance Marketing & Communications Association (IMCA) 2010 Showcase Awards, held June 27-30 in Atlanta, Georgia. The organization won a Best of Show Award in the category of Print Product or Image Advertising - In-House B2C Marketing for its RESP printed marketing material. It also earned an Award of Excellence in the same category for its group home and auto print ads, as well an Award of Excellence in the Employee Electronic or Interactive Communication category for its Print Ad Tool.
Our People
Tomorrow's industry leaders begin strategic preparation: Insurance Institute.
(Toronto, ON - July 2010) - The Insurance Institute, the industry's premier source for professional development, is pleased to announce that the first semester of the new, enhanced Fellowship program has commenced and registration is now open for the second semester.
Consumer Information
New CAA iPhone Application Enhances Assistance to Stranded Motorists.
OTTAWA, ONTARIO--(July 6, 2010) - The Canadian Automobile Association (CAA) has launched a new iPhone application that provides another easy, convenient way for members to access CAA Roadside Assistance. The CAA Roadside App - which can be downloaded for free on the iTunes App Store - uses the iPhone's innovative location-based services to allow CAA Roadside Assistance to find your vehicle and send help so you can quickly get back on your way.
What home owners should follow when wildfire strikes: BCAA.
July 14, 2010 - Images of this week's Peachland wildfire and Armstrong sawmill fire offer vivid reminders of the devastation fire can have on homes, personal property and residents' peace of mind. Both Okanagan fires quickly ballooned after erupting and forced evacuations of over sixty people from their homes in the Peachland area and nearly 250 people near Armstrong.
CAMH's Ontario-wide student survey shows high rates of psychological distress and concerning health indicators.
July 12, 2010 -- An ongoing survey of Ontario students in Grades 7 to 12 conducted for the Centre for Addiction and Mental Health (CAMH) shows that the number of students who rate their health as poor has significantly increased over the past two decades. The 2009 Ontario Student Drug Use and Health Survey (OSDUHS) Mental Health and Well-Being Report released today reveals important trends in mental health, physical health, and risk behaviours among Ontario students.
from Doug:
Seven nights now in our new condo, in the heart of old historic Toronto where some of the oldest buildings in the city stand. The move is now history, as are the many years we spent in our previous home in another not-quite-so-old part of Toronto. That said, the unpacking is coming along well, but much yet to do. We probably have kept too many things; the decisions about what to discard vs being too crowded will be painful. But here we are; the next journey has begun.
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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