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.
The Chronicle: Issue 2011-10, March 8, 2011
Pembridge Insurance Company Wins Best-In-Class Award for Broker Connectivity Solution.
MARKHAM, ON, March 4 2011 - Pembridge Insurance Company has been awarded the "Best-In-Class, P&C Insurer" Award by Insurance-Canada.ca for its Broker Connectivity Solution; a real-time transactional solution aimed at improving broker workflows.
Cornerstone Insurance Brokers Ltd. Purchases Colley, Borland & Vale Insurance Brokers Limited.
Woodbridge, ON March 1, 2011 - Cornerstone Insurance Brokers Ltd, is pleased to announce the purchase of Markham-based Colley, Borland & Vale Insurance Brokers Limited, a brokerage specializing in farm, commercial, and home & auto insurance.
Celent Report: North American SnAppshot, Life Version: Mobile Apps for Life Insurance and Annuity Consumers.
The mobile web is evolving at an extraordinary rate, and each evolution has brought new possibilities to insurers. Smartphones received significant focus in 2010 and sales of smartphones are expected to outpace feature phones in 2011. Celent found that many leading property/casualty insurers are publishing feature-rich apps, but what are life insurers doing? Where are life insurers in the development lifecycle of smartphone apps?
FINEOS and Manitoba Public Insurance Honored at Insurance-Canada.ca Technology Awards.
Dublin, Ireland, March 1, 2011 - FINEOS Corporation, a market leading provider of claims management software solutions for Insurance and Government Insurance, has been honored at this year's Insurance Canada.ca Technology Awards (ICTA). FINEOS customer, Manitoba Public Insurance (MPI), won the ICTA for P&C Insurer ? Claims, while FINEOS received an Honorable Mention in the P&C Technology Provider category, also for Claims.
ICBC's facial recognition technology protects customers by identifying fraud.
February 23, 2011 - Two years after it was introduced, ICBC's use of facial recognition technology has had a dramatic impact on helping to protect our customers from identity theft and fraud. In 2010, the technology - which enables ICBC to compare a cardholder's image with their existing image on file and with an entire database of millions of images - played a vital role in a number of convictions.
IIHS: Underride guards on big rigs often fail in crashes; Institute petitions government for new standard.
ARLINGTON, VA - March 1, 2011 - New crash tests and analysis by the Insurance Institute for Highway Safety demonstrate that underride guards on tractor-trailers can fail in relatively low-speed crashes ? with deadly consequences. The Institute is petitioning the federal government to require stronger underride guards that will remain in place during a crash and to mandate guards for more large trucks and trailers.
Policy and Product Management
Guidewire Solutions for Underwriting, Policy Administration, and Billing Deployed by The Co-operators.
GUELPH, ON, CANADA and SAN MATEO, CA, USA, February 28, 2011 - The Co-operators Group Ltd. (The Co-operators), a leading Canadian-owned, multi-product insurer, and Guidewire Software®, a leading provider of flexible core systems to property/casualty (P/C) insurers, today announced that The Co-operators is live on Guidewire PolicyCenter® and Guidewire BillingCenter®.
Celent Report: Trends in Life Insurance New Business and Underwriting Systems Usage.
Boston, MA, USA - February 16, 2011 - A joint survey by Insurance Networking News (INN) and Celent assesses the level of interest for new business and automated underwriting systems in life insurance companies. In a new report, Trends in Life Insurance New Business and Underwriting Systems Usage, Celent reports on how the implementation of new business and underwriting systems can assist with organic growth, a key objective of life insurers coming out the Great Recession.
Marketing and the Market Place
Sun Life selected as most trusted brand in Life Insurance.
TORONTO, March 1 2011 - Canadians from coast to coast have named Sun Life Assurance Company of Canada as the "most trusted brand in Life Insurance" for the second consecutive year in a Harris/Decima poll, commissioned by Reader's Digest, for the 2011 Trusted Brand awards program.
Allstate Insurance Company of Canada and Breakfast for Learning Team Up to Kickoff Nutrition Month - A National Awareness Campaign.
TORONTO, March 1 2011 - Today, volunteers from Allstate Insurance Company of Canada partnered with Breakfast for Learning to launch Nutrition Month, a national awareness campaign designed to bring attention to the importance of providing our youth with the proper nutrition they need to thrive, succeed and reach their full potential in the classroom.
eMarketer: Social Media Is Not Killing Email.
FEBRUARY 28, 2011 - The latest death knell for email was sounded by data in comScore's "2010 U.S. Digital Year in Review" report, which noted a decline in time spent with web-based email among all US internet users under 55. Users ages 12 to 17, who have been most likely to drop email in favor of other online communications like social networking, had the steepest decline in usage, down 59%.
eBusiness and Technology
Gartner Forecasts Global Business Intelligence Market to Grow 9.7 Percent in 2011.
Sydney, Australia, February 18, 2011 - The worldwide market for business intelligence (BI) software is forecast to grow 9.7 percent to reach US$10.8 billion in 2011, according to Gartner's latest enterprise software forecast. Growth is expected to slow slightly over the forecast period to 2014, but remain in the high single digits.
IBM Advances Cloud Computing with New Software.
LAS VEGAS, - 01 Mar 2011: PULSE 2011 -- IBM (NYSE: IBM) today showcased a series of technology breakthroughs that extend its leadership capabilities in virtualization, image management and cloud computing, including software that can virtualize a data center within minutes to instantly meet business demand.
Business of Insurance
ICLR: Climate change information for adaptation.
March 1, 2011 - Many people postpone action to adapt their businesses and management activities to the changing climate because of uncertainties about future climatic conditions. It is true that the range of projected futures becomes rather large by the end of the century. This is due to uncertainties about future greenhouse gas emissions and the differences in results from various global climate models.
Manulife launches inaugural real estate investment funds.
TORONTO, Feb. 28 2011 - Manulife Real Estate, the real estate arm of Manulife Financial, is extending to investors the benefit of its more than 60-year history of managing quality commercial real estate assets with the formation of a new Manulife Real Estate Funds platform and the launch of its inaugural Manulife Canadian Real Estate Funds offering.
Insurance Bureau of Canada urges homeowners to take preventive action: High risk of spring flood in Manitoba and Saskatchewan.
VANCOUVER - February 28th, 2011 - After a wet fall and snow-filled , experts are forecasting a high probability for a spring flood in Manitoba and Saskatchewan. Insurance Bureau of Canada (IBC) reminds homeowners that while overland flooding is not covered by insurance, there are ways to protect their belongings from water damage.
Three times each year our heritage group has national level meetings. This past weekend thirty people from across the country met here in Toronto. An occasion to get together with good friends who share a common interest, and try to move the ball forward. It is encouraging to see a growing interest in our Canadian history. After all, as some pundit said, if you don't know where you have been, how do you know where you are going.