---

Issue 2003-1:   January 7, 2002

This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.

Please forward this newsletter to a fellow employee, or someone else involved in the insurance industry, if you think they would have some interest in the information. For subscribe/unsubscribe details, see the bottom of this note.

---

This issue is brought to you by our sponsors:

Travel Underwriters http://www.TravelUnderwriters.com

" Going Somewhere? "

---

New on January 1 is a section on our site called "Business of Insurance". General Management trends and directions, industry-wide material, mergers and acquisitions etc will be featured here. The e-Business and Technology section where much of this had been posted will more explicitly focus on technology now.

---

Marketing

Manulife Investments poll finds many Canadian investors would spend 'extra' $1,000 to pay down mortgage or other debts. If $1,000 dropped in their lap, the top priority for the largest group of Canadian investors would be to pay down their mortgage or other debts, according to a recent national poll for Manulife Investments. More at http://www.insurance-canada.ca/market/canada/ManulPoll200212.php

Distribution

Life Company Central Business Plan Completed in December 2002 as Planned. Toronto Life Company Central (LCC) is pleased to confirm that the business plan has been completed in December as per the project plan established in September. This plan addresses the LCC mission, it’s value proposition to carriers and distributors, product and services, implementation approach, technology model and standards, corporate governance issues, and the financial metrics associated with this project. More at http://www.insurance-canada.ca/distribution/canada/LCC200212.php

Travelers Property Casualty is the first carrier to offer real-time quoting capabilities for small commercial insurance to independent agents with AMS Services Inc., one of the two largest agency software providers in the USA. This new capability allows agencies to obtain quotes for business owners policies from Travelers directly through their AMS management system, rather than being transferred to a proprietary site via a bridge transaction or logging into a separate company Web. More at http://www.insurance-canada.ca/distribution/other/IVANSsmcom200301.php

Benchmarking Advisor Technology Platforms and Tools: Report by Celent.

Surveys of leading financial organizations and their advisors emphasize the growing importance of technology in attracting and retaining talented advisors. In a new 30-page report, Celent Communications provides advisor-based organizations with insight into the current state of advisor technology and tools. The report is based on a survey of leading insurance and brokerage firms in the industry. More at http://www.insurance-canada.ca/distribution/other/CelentATP200212.php

CSIO Insurance Portal Status Update

CSIO Portal status and project information at http://www.insurance-canada.ca/csioip/csioip.php

Week ending January 3, 2003: People were enjoying the Christmas break - no changes.

Claims

Consumer satisfaction with auto insurance claims handling has reached a record high of 86%.

The annual Claims Satisfaction Survey, issued by the Financial Services Commission of Ontario (FSCO), demonstrates that companies (more than 150) providing auto insurance in Ontario continue to do an excellent job of dealing with thousands of auto insurance claims made each year. More at http://www.insurance-canada.ca/consinfoauto/OntClaimSat200212.php

Careers Skills and Jobs

Ontario Life Insurance Licensing Students Granted a Short Reprieve: FSCO via Advocis.

Life licensing students in Ontario desperate to write their Level 1 life licence exam have been granted a reprieve from the regulator, the Financial Services Commission of Ontario (FSCO). Students are rushing to beat the December 31, 2002, deadline to write their Level 1 exam before the new Life Licensing Qualification Program (LLQP) takes effect January 1. Advocis is currently the exam provider in Ontario. More at http://www.insurance-canada.ca/humanres/canada/AdvocisON200212.php

Maritime Life makes ROB Magazine's Top 50, four years running.

One of three for four, Maritime Life Assurance Company placed 19th in the Globe and Mail's ROB Magazine ranking of the Top 50 companies to work for in Canada. Other companies who share our achievement of being consecutively ranked include Eli Lilly and The Cumis Group. Together, we were among 128 finalists. More at http://www.insurance-canada.ca/humanres/canada/MaritimeCWF200301.php

Insurance Business

TowerGroup CEO Outlines "Five C's" Driving Global Financial Services Industry.

TowerGroup president and CEO Mark Sievewright outlined several key trends and challenges facing institutions in the global financial services arena. His remarks opened the Hitachi Executive Seminar for Financial Institutions, attended by high-level Japanese financial services executives. More at http://www.insurance-canada.ca/business/other/Tower5C200212.php

Canada Life completes acquisition of German Operation of Prudential U.K.

Canada Life Financial Corporation announced it has completed the acquisition of the Irish based German life operations of Prudential U.K. plc. More at http://www.insurance-canada.ca/business/other/CanadaLGerm200301.php

Policy Management

Bermuda Leads Expansion of inreon Reinsurance Trading Platform.

A growing number of global reinsurance groups, including new Bermuda start-ups, have identified the Internet as a key channel for receiving 2002/3 renewal business. Recent weeks have seen a significant number of reinsurers commit to serving clients on-line via the inreon trading system. These include both Axis Specialty and Montpelier Re, two Bermuda-based operations established last year in the wake of record industry losses resulting from the September 11 terrorist attacks. More at http://www.insurance-canada.ca/poladmin/other/inreonBermuda200301.php

Insurance in the Community

AEGON Canada Spokesperson Catriona Le May Doan Delivers Gifts, Smiles and Good Cheer to Children.

“This children’s party honours the spirit of children and the hope that they symbolize and hold out for us. It’s important that they are remembered, cherished and celebrated, particularly at this time of year,” says Catriona, the official spokesperson of AEGON Canada’s charitable giving program. More at http://www.insurance-canada.ca/humanres/community/Aegon200212.php

from Doug:

On behalf of the Insurance-Canada.ca people, may your 2003 be a healthy and prosperous year. My Christmas break was enjoyable with family and friends. The weatherman obligingly provided a white Christmas. One son returned to school this morning; the other started his University co-op work term yesterday at the GM engine plant in St. Catharines - we have yet to hear what he will be doing there. My spouse retired on Dec. 31, and as I work from a home office, the routine here will be different this year. I look forward to it. Again from all of us, we wish you the best.

Advertising

For information about advertising in our newsletter, visit www.insurance-canada.ca/advertise/adnewsletter.php or contact me.

NOTES/Subscribe/Unsubscribe:

You are being sent this note as a newsletter subscriber, a former attendee at one of our seminars, a person I thought would be interested, or someone who represents a firm with a presence on the Insurance-Canada.ca Web site at www.insurance-canada.ca If you know someone else who might be interested in this information, please forward this note.

Send a note to me if you wish to be added to, removed from, or have your address changed for this e-mail list, or if you have any problems with this message.