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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The Chronicle: Issue 2011-14, April 5, 2011
Applied Systems Acquires Artizan Internet Services.
University Park, Illinois - March 31, 2011 - Insurance technology company Applied Systems today announced it has acquired Artizan Internet Services, expanding capabilities around agency and broker management systems while meeting the demand for online communication between agents and insurance consumers.
Hub International Acquires M.B. Plumpton Insurance Consultants.
CALGARY, March 28 2011 - PPI Solutions Inc. is pleased to announce a strategic alliance agreement with IPG Insurance Inc. of Ottawa. The agreement offers IPG's advisors access to the extensive resources of PPI Solutions. PPI Solutions, in conjunction with PPI, has and is developing a suite of advisor tools - The PPI Solutions Toolkit.
PPI Solutions' Strategic Alliance with IPG Insurance Inc. will benefit IPG Advisors.
CALGARY, March 28 2011 - PPI Solutions Inc. is pleased to announce a strategic alliance agreement with IPG Insurance Inc. of Ottawa. The agreement offers IPG's advisors access to the extensive resources of PPI Solutions. PPI Solutions, in conjunction with PPI, has and is developing a suite of advisor tools - The PPI Solutions Toolkit. Each unique tool assists advisors in building an effective, compliant and efficient practice.
Policy and Product Management
Guidewire Selected by Jewelers Mutual Insurance Company for Policy Administration, Billing, and Claims Management.
Neenah, Wis. and SAN MATEO, Calif., March 29, 2011 - Jewelers Mutual Insurance Company ("Jewelers Mutual"), the only company specializing exclusively in jewelry insurance in North America, and Guidewire Software®, a leading provider of flexible core systems to property/casualty (P/C) insurers, today announced that Jewelers Mutual has selected Guidewire InsuranceSuite as its new platform for underwriting, policy administration, billing, and claims management.
Duck Creek Policy Administration™ and Duck Creek Templates™ selected by ENERGI.
BOLIVAR MO?March 31, 2011 -- Duck Creek Technologies, Inc., a provider of innovative software and services for the insurance industry, announced it has signed an agreement with ENERGI to license Duck Creek Policy Administration™ and Duck Creek Templates™.
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eBusiness and Technology
IBM delivers initial phase of Canada's first province-wide electronic health record system.
MARKHAM, ON, March 14, 2011 - IBM [NYSE:IBM] today announced the first stage of a $22.5 million project to create an electronic healthcare records (EHR) system for the province of Manitoba has gone live, providing clinicians with unprecedented access to their patients' lab results, dispensed drug records and immunization histories, in seconds.
Information Builders Customers Embrace Mobile BI.
NEW YORK, NY - March 8, 2011 - Following up on the launch of WebFOCUS Mobile BI last week, Information Builders, an independent leader in business intelligence (BI) solutions, today announced its broad penetration of the mobile BI market. As the long-time leader in mobile BI, Information Builders has hundreds of customers with mature installations of its mobile BI solutions and Active Technologies.
Strategic Resource Consultants (SRC) Establishes Healthcare & Wellness Division.
April 2011, Toronto -- Strategic Resource Consultants (SRC) has established a Healthcare & Wellness Division to address the ongoing needs of our Insurance Clients and those of our Health Care Business clients. Initially SRC provided Medical Personnel to Assessment Centres and to Rehab Clinics, as well as Medical Consultants to Life Companies. The service offerings have expanded to include a larger health care community, adding Hospitals, Clinics, Pharmaceuticals / Biotech, & CRO companies.
IBC: Auto insurers welcome Ontario's latest move to fight fraud.
TORONTO, April 1 2011 - Auto insurers welcome Ontario's latest moves to fight fraud, abuse and over-utilization that drive up costs for their law-abiding policyholders."The government has clearly signaled it will support insurers that stand up to those who would exploit the system," says Ralph Palumbo, Ontario vice-president of the Insurance Bureau of Canada.
Swiss Re's Sigma Study: Losses Jump from 2010 Natural Catastrophes and Man-made Disasters.
Zurich, 29 March 2011 - According to Swiss Re's latest sigma study, worldwide economic losses from natural catastrophes and man-made disasters were USD 218 billion in 2010, more than triple the 2009 figure of USD 68 billion. The cost to the global insurance industry was more than USD 43 billion, an increase of more than 60% over the previous year. Approximately 304 000 people died in these events, the highest number since 1976.
Business of Insurance
Insurance Brokers Association of Ontario Welcome Crackdown on Auto Insurance Fraud.
(Toronto, Ontario), March 29, 2011. Today, the Insurance Brokers Association of Ontario (IBAO) welcomes the Ontario government and Finance Minister Dwight Duncan on their continued support of Ontario?s insurance industry and small businesses. Today?s Budget highlights that the government will continue to target abuse and fraud in the auto insurance system. This announcement proves that the government remains committed to the insurance industry and consumer protection.
Reference and Statistics
Towers Watson Survey: Commercial Insurance Prices Remain Flat for Eighth Consecutive Quarter.
NEW YORK, March 24, 2011 - Commercial insurance prices were relatively flat for the eighth consecutive quarter, while accident-year loss ratios deteriorated relative to the same period in the prior 12 months, according to global professional services company Towers Watson's (NYSE, NASDAQ: TW) most recent Commercial Lines Insurance Pricing Survey (CLIPS).
What's Going Through The Intersection, an Insurance-Canada.ca Blog.
- Telematics: Service Providers Lead a Path that Insurers Could Follow
We have blogged in the past about some of the isolated examples of insurers using Telematics – use of technology to monitor vehicles – (e.g., see comments on Commercial Underwriting) as well as on-going debate by some insurers as to the utility of the approach. A recent posting by Jamie Yoder, principal at PwC’s Diamond Advisory Services in Insurance Networking News, suggests that insures should look at some of the service providers that are already implementing the technology and seek opportunities there.
Aviva Canada data shows 40% of all home insurance claims are water-related.
March 29, 2011 - (Toronto, ON) - Early signs of spring are a welcome sight to most Canadians, but along with warmer weather comes the increased likelihood of water damage to your home. Data from Aviva Canada Inc., one of the country's leading providers of home, auto, leisure and business insurance, indicates that 40% of all home insurance claims are a result of water damage.
I.I.I. Says Proper Risk Management Includes Getting the Right Insurance Coverage.
NEW YORK, March 25, 2011 - The tragic Triangle Shirtwaist Fire, which occurred a century ago today, is a reminder to all businesses of the need to be prepared for a disaster. In addition to typical risks such as fire, there are a host of other risks that are unique to each particular type of business. So it is essential that business owners have a disaster plan in place, which includes buying the right type and amount of insurance.
Marketing and the Market Place
Manulife Bank survey finds Canadian homeowners focused on debt reduction.
WATERLOO, ON, March 29 2011 - For the fourth consecutive quarter, Canadian homeowners say debt-reduction remains one of their top financial priorities, according to a recent poll for Manulife Bank of Canada. Nearly three in 10 homeowners rated debt freedom as "10" out of 10 - their top financial priority. More than seven in 10 (71 per cent) rated debt freedom at 8, 9 or 10 out of 10.
eMarketer: SMBs Turn to Social Before Search.
MARCH 28, 2011 - According to the American Express OPEN and Search Engine Marketing Professional Organization (SEMPO) "Small Business Search Marketing Survey", US small businesses recognize word-of-mouth as the top way their customers find them, followed by the internet and search engines.
eMarketer: A Look at LinkedIn Users.
MARCH 30, 2011 - In March 2011, LinkedIn reported reaching a milestone: 100 million users worldwide had signed up for the service, 44 million of whom are in the US. According to the company?s blog, 1 million more are signing up each week. eMarketer does not estimate the number of LinkedIn users, and unlike with Twitter, users are fairly unlikely to have multiple profiles. But how active are the 44 million US internet users with a profile on the site?
April showers and the tax man - income tax season. We have done the taxes - rather I should say, we have entered the data into the tax software - for our small family of four for many years. Our eldest finally decided this year he would strike out on his own, but second son spent a few hours here on Monday doing his. With T3's and T5's, operating his own business, a bit of foreign income (a holdover from purchases of McDonald's and Disney shares with his family allowance money way back when) and some education tax credits from university days, it is all somewhat daunting. Thank goodness for tax software. On the other hand, surely it could be a lot simpler - couldn't it?
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.
To subscribe, use the "Subscribe" link on the page at /newsletter/newsletter.php. If you are subscribed and wish to be removed or have you address changed, or are otherwise having any problems with the newsletter service, send a note to Doug Grant.