The Chronicle: Issue 2013-12, March 26, 2013
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What's Going Through The Intersection of Insurance and Technology? | ||||
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Auto Insurance and Automated Vehicles: Who's the Consumer, Who's the Consumee?
2013 ICTA Winners Announced |
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Technology
The Benefits of Cloud Software for Insurance, by Mark Orosz, CIO/CSO, Oceanwide (Part Two in a three-part series)
One of the transformational concepts sweeping the insurance software world is that of Cloud Computing. "Cloud Software" is an expression being heard with increasing frequency as companies in every industry move to adopt a delivery model which is more cost efficient than traditional software delivery models. Cloud computing is now seen as a safe and secure option to enable business and IT to focus on core competencies.
Leveling the Playing Field with Visual Insights, by Stuart Rose, SAS
The insurance sector is an incredibly competitive market. Between offerings from big insurers with global reach and smaller players with well-established local customer-bases, today's consumers have a wide array of choices for their insurance needs. As such, those in the middle may find themselves caught between a rock and a hard place. Luckily, many of the tools used by the largest of global insurers are increasingly available to mid-sized companies.
Telematics
The Evolution of Automobile Insurance, by Catherine Kargas
Automobile insurance represents approximately half of Canadian P&C insurance net premiums written (NPW). Two-thirds of the more than $19 billion of automobile insurance NPW “flow” through the broker channel. This large piece of the P&C insurance pie is highly likely to change in the coming decade due to numerous customer trends and technologies. These changes will most probably have a sizeable impact on the total auto insurance premiums in Canada.
Human Resources and Jobs
Retaining Talent: Telecommuting Helps – Michelle Straka, InsuranceWorks
Last month's hottest workplace news story was Marissa Mayer's, CEO of Yahoo, decision to ban telecommuting at the Silicon Valley Company. Arguments for and against the decision have been debated in news platforms and workplaces across North America. The major question is will it really fuel the level of creativity, engagement and productivity needed to bring Yahoo back to its former glory days, or will it further demoralize a workforce that has survived 5 CEOs in 4 years?
Business of Insurance
IBC's Municipal Risk Assessment Tool honoured for innovation
Insurance Bureau of Canada has been cited by Water Canada magazine for the innovative development of its Municipal Risk Assessment Tool. MRAT combines insurance claims data, detailed information about municipal infrastructure and climate modeling to predict where there are vulnerabilities in systems that could lead to millions of dollars in sewer backup damage to homes and businesses.
CLHIA: Canadian life and health insurance industry reacts to federal budget
The Canadian life and health insurance industry sees both challenges and opportunities ahead in a number of the measures announced in today's federal budget, welcoming several initiatives by the government.
IBC supports federal government funding for infrastructure
Insurance Bureau of Canada applauds the Federal Government on its long-term commitment to infrastructure funding in the 2013 Federal Budget. The budget, delivered today, dedicates funding over ten years for provincial, territorial and municipal infrastructure.
Consumer Information
Protect Yourself from Fraud After a Collision: FSCO and Toronto Police launch PSAs for drivers
Today, the Financial Services Commission of Ontario and the Toronto Police Service launched a series of Public Service Announcements (PSAs) on what drivers should do after a collision to protect themselves from fraud.
IBC encourages “water-savvy” ways for Canada Water Week
It's Canada Water Week, a week-long celebration of water across the country. While fresh, abundant water is an important resource in our lives, Insurance Bureau of Canada (IBC) reminds Canadians that water damage to your property can result in expensive repair bills and ruin priceless valuables. Fortunately, there are steps you can take to protect your home and your property before spring arrives.
Kanetix.ca mortgage comparison service now available in eastern Canada
Kanetix.ca's innovative mortgage comparison service – where people can compare and secure mortgage rates, plus get pre-approved online – is now available to residents in Nova Scotia, New Brunswick, PEI and Newfoundland.
Standard Life expands offerings to employer health and wellness programs
The Standard Life Assurance Company of Canada today announced that it has expanded the range of its health and wellness consulting services and tools to support employers who wish to implement or enhance their health and wellness programs.
Distribution
iter8 technology underpins new fully integrated Aviva Leisure & Lifestyle products
iter8, a leading software solutions provider to the insurance industry, is pleased to announce that Aviva Canada has gone live with a real-time new business upload solution for Aviva's Leisure & Lifestyle RV Insurance point-of-sale system. This allows brokers to make inquiries, obtain new business quotes and bind new policies all in real-time. L&L is an expanding market and providing brokers with ease-of-doing-business comparable to other personal lines products is an important step for Aviva.
Claims
TELUS Health agreement enables electronic claim submissions for Industrial Alliance clients
Alliance Insurance and Financial Services Inc. announced today an agreement with TELUS Health to offer its group insurance plan members a simple point-of-sale electronic claim submission service. In an ongoing effort to provide superior service to its clients, Industrial Alliance is deploying the online eClaims service – Scheduled to officially launch in Fall 2013 – to reduce claims processing time and costs. To further increase efficiency, claim reimbursement from Industrial Alliance can be made to plan members or healthcare providers via electronic funds transfer.
Crawford Global Technical Services launches mobile search application
Crawford Global Technical Services has announced the launch of a new mobile application, expanding its reach to clients around the world. The application, which is named Crawford GTS Search, has been developed to provide expanded access for clients to GTS' global database of expert technical insurance claims specialists on a variety of preferred mobile platforms.