The Chronicle: Issue 2013-06, February 12, 2013

What's Going Through The Intersection of Insurance and Technology?

Broker Connectivity: Canadian Milestones, and Potholes, On Display at ICTC
Back in the early 1980s, an analyst at an insurance company had been working on electronic policy communications with brokers for about a year. After an early-days meeting of CSIO, the supervisor returned with a picture of a cloud, marked ‘Standards’ with lightning bolts coming out of it, connecting with boxes marked ‘brokers’ on one side and ‘companies’ on the other. He showed this to the analyst, and said, “What do you think?” The analyst replied, “That's the future.” The supervisor said, “That's where you're wrong; it will never happen.” After more than a quarter century, neither the analyst nor the supervisor has been proven wrong. The question now: How long can this particular limbo go on?

ICTA: The Jury Is Out And The Winners Are In the Mayonnaise Jar!
The die is now cast. The winners of the coveted Insurance Canada Technology Awards (ICTAs) have been selected and the results have been sequestered. After the ICTA jury met earlier this month, a secret ballot was held, the official scrutineer tallied the results, notified the small handful of officials who will be preparing the awards, and, following the sacred tradition of Carnac the Magnificent, hermetically sealed the envelop and placed it in a #2 mayonnaise jar for safekeeping.

The Intersection: Insurance-Canada.ca Blog
The Intersection
an Insurance-Canada.ca Blog

Technology

SAS updates visual data exploration software with work group and midsize business support
The power of SAS® Visual Analytics is now available for work groups and midsize businesses. The new version of SAS' visual data exploration software, combining business intelligence with the world's leading analytics, includes added graphical display options and analytical capabilities.

PSG Inc. launches new business architecture website
PSG Inc. is announcing the launch of a website and central resource for enterprise business architecture framework, business reference models and methodologies. www.InsuranceFrameworks.com was developed to assist with all types of business and IT projects to share knowledge among insurance carriers, brokers, banks, and other parties.

Information Builders positioned as a leader in business intelligence and analytics: Gartner report
Today at the Gartner Business Intelligence and Analytics Summit in Barcelona, Information Builders, a leader in business intelligence (BI) and analytics, information integrity, and integration solutions, announced that it was positioned in the Leaders Quadrant of the firm's "Magic Quadrant for Business Intelligence and Analytics Platforms." The recognition is based on the evaluation of the company's WebFOCUS BI solutions suite.

Policy Management

Virtual Viewpoint: Removing Risk from Core Systems
Heather Peacock, Executive Vice President at OneShield, answers the question, “What can insurers do to take the risk out of core administration systems?” in this Virtual Viewpoint, courtesy of OneShield.

OneShield: Business Transformation Case Study Webinar, Wednesday, February 27, 2013
OneShield will host the webinar “Automated Underwriting, Accelerated Growth: Business Transformation Case Study” on Wednesday, February 27, at 2pm Eastern time. The webinar will include an in-depth look at important industry trends presented by Karen Furtado, Partner at SMA Strategy Meets Action and a real-world customer success story featuring Troy Lethem, CIO at Capitol Insurance Companies.

Telematics

IMS: Are Telematics the Disruptive Force that will transform the Auto Insurance Industry?
It's official: the usage-based insurance market is heating up, and in a big way. In fact, according to industry insiders a full sixty percent of current U.S. auto insurance is covered by insurers who offer a UBI program. So what's holding back the other forty percent? MyConnectedCar recently sat down with Blair Currie, VP Marketing at IMS to discuss some of the benefits and most prevalent challenges facing usage-based insurance programs.

Consumer Information

IBC offers home maintenance tips to protect against winter property damage
Winter is hard on houses. But you can reduce your risk of property damage from the hazards of cold weather with these home maintenance tips from Insurance Bureau of Canada (IBC).

Business of Insurance

IBC urges NDP to cooperate on a sustainable auto insurance product
Today Ontario NDP Leader Andrea Horwath announced a list of priorities for new Premier Kathleen Wynne, including a recommended FSCO mandate to reduce auto insurance rates by 15%. In response, Insurance Bureau of Canada says band-aid solutions may score political points but for the long term all stakeholders need to continue to push for needed reforms and fight fraud. Auto insurance fraud in Ontario costs as much as $1.6 billion a year and drives up costs for all Ontario drivers, who currently pay the highest auto insurance premiums in the country.

Accenture opens new office in Calgary, Alberta
Accenture today opened a new office in downtown Calgary, featuring the latest technology to help employees collaborate and connect with clients, and each other, locally and around the world.

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