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Issue 2003-2:   January 14, 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.

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Distribution

Global IQX partners with Sun Life Financial to strengthen online offerings.

Global IQX Inc., developer of the ConnectInsure Web-based quoting service that enables insurance brokers and consultants to conduct online quotations and enrollment transactions, today announced a partnership with Sun Life Financial, Canada’s leading group insurance carrier. More at http://www.insurance-canada.ca/distribution/announce/GlobalIQXSL200301.php

The Bottom Line, by Eric Walker and Paul Greenhow.

An increasing number of property and casualty brokers are venturing into the business of offering integrated financial services. These brokers have visualized the integration of financial services with their core services as an effective way to achieve growth, increase retention, and to provide a better service to their existing clients. More at http://www.insurance-canada.ca/distribution/canada/ciCW200301.php

CSIO Insurance Portal Status Update

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

Week ending January 10, 2003: The number of brokers connected to the Portal remains at 22.
For Ontario Property rates, Dominion is set to start user acceptance testing the week of January 13.
CGU has provided Quebec rates to ISI and work is commencing on setting up rates and rules.
Some companies have provided rates to ISI for additional provinces beyond ON, NB and NS.

Insurance Products

Canada Life Enhances its Critical Illness Insurance Product.

The Canada Life Assurance Company announced enhancements to its LifeAdvance critical illness insurance product offering clients more choices, such as protection against four new covered conditions and new return of premium features. More at http://www.insurance-canada.ca/consproducts/health-critical/CanadaL200301.php

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Data Integration Accelerates Customer Management: Seminar
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Speakers include Greg Smith, Cap Gemini Ernst & Young Canada, and Paul Evans, Chief Operating Officer, Generation 5.
Breakfast seminar: 7:00 9:20AM, Wednesday January 29, 2003, TSX Conference Centre, Toronto
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Statistics and Reference

A.M. Best consolidates Canadian Operations.

A.M. Best Co. announced that it will consolidate all Canadian operations previously conducted by its Toronto office into its corporate headquarters in Oldwick, New Jersey. The objective of the closing is to streamline its Canadian rating and data reporting operations. More at http://www.insurance-canada.ca/refstat/announce/AMBests200301.php

USA Annuity Sales Remain Strong Through Third Quarter of 2002: LIMRA.

With demand for fixed annuities remaining strong, total industry sales increased 27 percent through the first three-quarters of 2002, reaching $170.8 billion, according to preliminary estimates from LIMRA International. More at http://www.insurance-canada.ca/refstat/other/LIMRAAnn200301.php

Conning Research: Caution Flag for Personal Automobile Insurance (USA).

Personal automobile insurers will experience disappointing financial results over the next five years, continuing a pattern of mediocrity dating back to 1993, according to a new study from Conning Research & Consulting, Inc. More at http://www.insurance-canada.ca/refstat/other/ConningAuto200301.php

Technology

Consumers Favour Home Healthcare Electronics: Accenture Study.

Consumers Favour Home Healthcare Electronics: Accenture Study More than 80 percent of consumers say that using home healthcare electronic devices "which enable consumers to monitor, diagnose and treat illnesses in the home" would improve their overall health, according to a new Accenture study. More at http://www.insurance-canada.ca/ebusiness/other/AccentureHC200301.php

Insurance Business

Sun Life closes sale of Clarica's U.S. operations to Midland National Life.

Sun Life Financial Services of Canada Inc. announced today that it has closed the previously announced sale of Clarica Life Insurance Company's U.S. operations, Clarica U.S., Inc., to Midland National Life Insurance Company. More at http://www.insurance-canada.ca/business/other/SunLUSA200301.php

Insurance in the Community

Maritime Life employees raise over $212,000 for community organizations.

Maritime Life employees raised a company record of over $212,000 in support of the United Way, favorite charities and communities across Canada during their national Annual Giving Campaign held earlier this fall. More at http://www.insurance-canada.ca/humanres/community/MaritimeEG200301.php

from Doug:

The promise of e-business was huge, and we are gradually getting there. Join us at a Toronto seminar on Feb 28 to examine progress towards the seamless distribution of insurance, in the P&C broker channel. Details at http://www.insurance-canada.ca/seminars/seminar20030228.php

While our eldest explores some of the issues involved in getting an engine line running at GM - what great experience for a systems design engineering student - I am living through the vagaries of high speed, or should I say lack thereof, internet access. Each week brings a new challenge - I hope yours goes well.

Advertising

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

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