The Chronicle: Issue 2011-17, April 26, 2011
Distribution
Ontario Brokers Association (IBAO) Launches Beyond Best in Class Pilot Program.
(Toronto, Ontario), April 18th, 2011. Today, the Insurance Brokers Association of Ontario (IBAO) announced the launch of their pilot program Beyond Best in Class (BBiC) as part of their ongoing commitment to providing innovative programs to their broker members.
Kanetix adds new partner to auto quote comparison service.
TORONTO, April 20 2011 - Auto insurance quotes from The Co-operators are now available online to Quebec drivers through Kanetix.ca. Kanetix has been helping drivers in Quebec shop for auto insurance for more than 10 years. With this new collaboration, Quebec shoppers can benefit from competitive quotes from The Co-operators and more choice when searching for lower auto insurance rates.
Celent Report: BOLT Insurance Agency - Changing the Small Commercial Insurance Service Paradigm.
Boston, MA, USA - April 18, 2011 - A new report, BOLT Insurance Agency: Changing the Small Commercial Insurance Service Paradigm, details the business case for the company?s formation, the unique aspects of its approach, and its future plans.
Managing Relationships and Customer Service
Standard Life adds two features to its group savings and retirement offering.
MONTREAL, April 18 2011 - Standard Life announces two new features to its group savings and retirement offering to Canadian publicly listed companies: stock and stock options plans administration solutions. The first feature enables employees to make online withdrawals from their stock plan directly from the VIP Room, Standard Life's transactional website. The second feature allows employers to access a variety of stock option arrangements that will help their employees administer and exercise options.
eBusiness and Technology
Accenture and RSA (UK) Extend Business Process Outsourcing Agreement for Insurance Services.
LONDON; April 6, 2011 - Accenture (NYSE: ACN) has extended for four additional years its contract to provide RSA UK with insurance business process outsourcing (BPO) services. Under the original contract, signed in 2003, RSA outsourced a range of front- and back-office operations to Accenture, including portions of its sales and service, claims, finance and commercial administration functions that support RSA's direct, affinity and broker customers.
Aite Group Report: ACORD and Implementation for Life Insurance: Challenges and Responses.
Boston, March 28, 2011 - A new report from Aite Group discusses core offerings and forward-looking initiatives for the life insurance industry from ACORD, the industry's largest and most important standards-setting body. Based on Aite Group conversations with 45 representatives of insurance carriers, distributors, technology vendors, and representatives of ACORD and its partner organizations, the report discusses standards that have been implemented within the life and annuity ecosystem, and discusses industry stakeholders' perceptions of these standards' impact.
Claims
Automated Benefits Releases Adjudicare Version 4.1.9 with New Online Claims Access.
TORONTO, ONTARIO -(April 12, 2011) - Automated Benefits Inc., a wholly-owned subsidiary of Automated Benefits Corp., is proud to announce the release of version 4.1.9 of the Adjudicare software, featuring exciting enhancements and a new Online Claims Access feature.
TIRF prepares for upcoming 12th International Alcohol Interlock Symposium and releases 11th Symposium Proceedings.
The Traffic Injury Research Foundation (TIRF) is pleased to announce it will organize and host the 12th Annual International Alcohol Interlock Symposium in Palm Springs, California on September 18th - 20th, 2011. The theme of the Symposium is integrating systems and creating a continuum of care.
Reference and Statistics
FSCO: Auto Insurance Rates for the First Quarter of 2011.
The Ontario Government passed regulations to enact auto insurance reforms effective September 1, 2010. These reforms are designed to reduce excess assessment costs in the auto insurance system and ensure more accident benefit dollars go to treating people injured in auto accidents.
Business of Insurance
ISO Release: Investment Gains Propelled Improvement in USA P/C Insurers' Overall Financial Results for 2010 as Underwriting Results Deteriorated.
JERSEY CITY, N.J., April 20, 2011 - Private U.S. property/casualty insurers' net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers' rate of return on average policyholders' surplus - a key measure of overall profitability - increasing to 6.5 percent from 5.9 percent.
Aon Benfield study: Reinsurer capital at record levels at YE 2010.
LONDON, 19 April 2011 - Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, today launches the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the year end 2010 financial position of the world's leading reinsurers and examines how 2011 catastrophe losses may affect their capital positions.
Guy Carpenter's Annual Review: Reinsurance Market and Rate Direction Still in Transition,
New York, March 31, 2011 - With substantial first quarter insured losses from catastrophes in Australia, Japan and New Zealand and the political unrest in the Middle East and North Africa, the direction of global reinsurance rates at April 1, 2011 renewals varies by region and line of business, according to Guy Carpenter & Company, LLC. .
Consumer Information
SGI: Saskatchewan Government rewards green drivers with rebates.
April 20, 2011 - Reducing pollution is important to Saskatchewan drivers and the Saskatchewan Government is making it easier to make environmentally friendly choices by delivering SGI rebates for fuel-efficient vehicles. Vehicles that use less fuel are better for family budgets and better for the environment.
BCAA shares money-saving driving tips that can help save the environment, too.
March 31, 2011 - (Burnaby, B.C.): With gasoline prices soaring across the province, B.C. drivers may be looking for ways to stretch the time between visits to the gas station, and shrink their monthly fuel bills. The British Columbia Automobile Association (BCAA) says, by taking a number of fuel-saving steps, drivers can lower costs ? and reduce harm to the environment, too.
Marketing and the Market Place
eMarketer : Surprising Growth for Standard Banner Ads.
APRIL 18, 2011 - The 2010 online advertising industry numbers posted by the Interactive Advertising Bureau this month showcased an impressive increase in US online ad spending for the year. Search marketing remained the largest ad spending contributor, its share down slightly to 46% of all US internet advertising dollars.
from Doug:
If Peter Mansbridge can broadcast from London England starting mid-week, I can send the Chronicle from there too. We arrived Sunday morning to very warm weather and beautiful sunshine - the trees are fully leafed out, lots of Spring flowers in full bloom. Royal wedding doodads are everywhere. We broke away from the crowd as we will do most of the week other than Friday (forecast is currently heavy rain) and spent the day doing family research at the archives at Kew. Somewhere in the time changes and other things to do, the newsletter prep-time slipped away. A bit late, but here it is.