Insurance-Canada.ca Newsletter Archive
Insurance-Canada.ca Newsletter Archive
Issue 2003-3: January 21, 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.
Marketing and Marketplace
Manulife Investor Sentiment Index rebounds; more interest in balanced funds, RRSPs, stocks and homes.
Canadians are feeling far more confident this winter investing in balanced funds, registered retirement savings plans, stocks and their own homes than just three months ago, according to a national poll conducted for Manulife Financial, among Canada's leading insurance and wealth management companies. More at http://www.insurance-canada.ca/market/canada/ManulifeInvest200301.php
Financial Consequences of Critical Illness Worry Canadians, RBC Insurance Study Shows.
Younger Canadians more concerned than older counterparts.
Statistics and Reference
North American Life Insurance Activity Mixed in December, US down, Canada up: MIB.
North American life insurance application activity declined for the third consecutive month in December posting a 1.8% decrease compared to 2001 levels. Regional results were mixed; U.S. applications decreased 2.4% last month while Canada showed a marked increase of 4.5% year over year. For the fourth quarter, U.S. applications were off by 4.2% with increases in Canada of 2.8% compared to Q4 2001. More details at http://www.insurance-canada.ca/refstat/canada/MIBLA200301.php
Technology and e-Business
OARBIC announces the successful completion of the HUON implementation project for Ascentus Insurance Ltd.
OARBIC is delighted to announce the successful, on time, on budget completion of the HUON project for Ascentus Insurance Ltd. In November 2000, OARBIC was awarded the project to expedite the move of Ascentus business onto The HUON Solution. Major factors in the award were OARBICís depth of knowledge of the HUON systems and the financial competitiveness of their bid. More at http://www.insurance-canada.ca/ebusiness/announce/OARBIC200301.php.
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Data Integration Accelerates Customer Management: Seminar
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Canada Life Board Recommends Rejection of Manulife Offer.
Canada Life Financial Corporation mailed its Directors' Circular related to Manulife Financial Corporation's unsolicited offer to acquire the outstanding common shares of Canada Life. The Circular includes the unanimous conclusion of the Company's Board of Directors that the offer is inadequate and recommendation of the Board that shareholders reject the offer and not tender their shares. More at http://www.insurance-canada.ca/business/canada/CanadaLBR200301.php
Sun Life Financial announces sale of U.K. group business to Unum Limited.
Sun Life Financial Services of Canada Inc. announced today that it has signed a definitive agreement for the sale of its U.K. group insurance business to Unum Limited, a U.K. subsidiary of UnumProvident Corporation. The sale, which is subject to approval from regulators in the U.K., is expected to close in the first quarter of 2003. More at http://www.insurance-canada.ca/business/other/SunLGB200301.php.
CSIO Insurance Portal Status Update
Week ending January 17: The number of brokers connected to the Portal remains at 22.
Perth Withdraws From CSIO Portal Pilot Due To Lack Of Special Risk Insurer Participation.
Due to a lack of participation by other special risk insurers, The Economical Insurance Groupís special risk member company, Perth Insurance, withdrew its participation from the CSIO Broker Portal pilot at the end of last year. More at http://www.insurance-canada.ca/distribution/canada/Perth200301.php.
New hedge funds launched by National Life offer investors lower risk and higher returns.
National Life's new "Fund of Funds" hedge fund product, a first in the Canadian segregated fund industry, provides knowledgeable investors with a significant alternative to conventional methods of wealth management. More at http://www.insurance-canada.ca/business/announce/NatLHedge200301.php
TEC4's Policy Works receives Award of Merit.
Tec4 Systems Inc. is proud to announce their flagship product Policy Works*, has received the Award of Merit from STC, the Society for Technical Communication. More at http://www.insurance-canada.ca/poladmin/announce/TEC4STC200301.php
Insurance in the Community
Peter Gzowski Invitational Golf Tournaments continue their legacy in 2003: The Co-operators.
As the 17th season of the Peter Gzowski Invitational Golf Tournaments (PGI's), came to a close in 2002, it was bittersweet as organizers and fellow Canadians bid farewell to the tournament's founder and continuing inspiration Peter Gzowski. Enter 2003, the many hundreds of volunteers, along with corporate sponsors such as The Co-operators, will pick up where Peter left off as the PGIs continue to be the leading fundraiser for local literacy initiatives in Canada. More at http://www.insurance-canada.ca/humanres/community/PGICo-op200301.php
Efficient processing, communications and workflow within a brokerage, and with insurers, for Commercial Insurance will be discussed by Kevin Campbell, President, TEC4 Systems in the topic "Technology & Commercial Insurance - Are You up for the Challenge?" at our Feb 28 seminar "Seamless Insurance Processing in the P&C Broker Channel". Details at http://www.insurance-canada.ca/seminars/seminar20030228.php