Issue 2009-51 -- December 22, 2009
This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information about the use of the Internet and related technologies in the industry, insurance products and the marketplace. Some is international, where we feel it is relevant to Canada.
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Claims
Guidewire's ClaimCenter Solution Profiled in Novarica's Vendor Solution Review.
SAN MATEO, California - December 10, 2009 - Guidewire Software, a leading provider of flexible core systems to property/casualty insurers, today announced that the company's ClaimCenter solution has been profiled in a recent "Vendor Solution Review" (VSR) report from Novarica. In addition to a review of ClaimCenter's functionality and technology, the report highlights how ClaimCenter's "rapid growth, market acceptance and outstanding references demonstrate its leading position in the claims administration space."
MSB Provides Next Generation Claims Estimating to Major Adjusting Firm.
NEW BERLIN, WI - December 16, 2009 - Marshall & Swift / Boeckh, LLC (MSB), the leading worldwide provider of building cost data and estimating technology to the property insurance industry and a MacDonald, Dettwiler and Associates (MDA) company, announces today the signing of a one-year agreement to provide CatManDo, Inc. with its next generation claims estimating solution, IntegriClaim™ EyeQ® Edition (EyeQ). MSB launched EyeQ on October 26, 2009.
Managing Relationships and Customer Service
Now Playing On iTunes: CIGNA Podcasts for Expatriates and Business Travelers.
CLAYMONT, Del., December 03, 2009 - Beginning today, employees on international assignments and business travelers can listen to health, wellness and benefits podcasts on Apple?s iTunes podcast library. Through a new arrangement with CIGNA International Expatriate Benefits (CIEB), a leading provider of group health care benefits to expatriates around the world, a comprehensive podcast library is downloadable from iTunes or from CIEB?s public website.
Industrial Alliance Launches a Series of Video Capsules for Group Pension Plan Sponsors.
QUEBEC CITY, Dec. 10 2009 - Industrial Alliance Insurance and Financial Services Inc. is pleased to announce the online installation of the first two capsules in a series of videos featuring its portfolio managers, as pertains to the investment services offered to group pension sponsors. Available on the company's website, these capsules seek to bring portfolio managers and plan sponsors closer, and to make the company's products and services better known.
Distribution
Insurance Distribution Management Systems: Seeking a Bigger Piece of a Smaller Pie: Report Published by Celent.
Boston, MA, USA - December 02, 2009 - A new report, Insurance Distribution Management Systems: Seeking a Bigger Piece of a Smaller Pie, examines how insurers can achieve sustained and profitable growth and provides a view of the vendors servicing the distribution management systems market. The goal in conducting this detailed data analysis and in talking to key players is to provide comparative data that helps carriers shortcut the process of evaluating distribution management vendors.
Business of Insurance
Proposal to reform pension system achieves public interest criteria: Sun Life.
TORONTO, Dec. 10 2009 - The introduction of multi-employer pension plans with automatic enrollment, automatic escalation and an opt-out clause would clearly address public interest issues involved in reform of Canada's pension system, according to a senior executive in the financial services industry.
Great-West Life releases Pension reform position paper: Proposes practical, 'made in Canada' solution.
WINNIPEG, Dec. 14, 2009 2009 - The Great-West Life Assurance Company today released a position paper on pension reform, adding an important perspective to the debate that will take place on this topic over the coming months, including at the finance ministers' meeting to take place December 17-18 in Whitehorse, YT.
Canadian Life and Health Insurance Industry turns in strong performance in 2008.
TORONTO, Dec. 16 2009 - The life and health insurance industry ably weathered the impact of the economic downturn having turned in a strong performance in 2008, according to its annual industry report released today. "The positive results released today demonstrate that our industry continues to offer products and services that are important to Canadians, and that the industry is well positioned for further growth as the economy rebounds" said Frank Swedlove, President of the CLHIA.
Conning Research: Life Insurance Industry Profitable in 2009 Despite Ongoing Capital Challenges.
(Hartford, CT) December 1, 2009 - The life insurance industry is still working through capital losses and capital constraints resulting from the 2008 financial crisis with some success, according to a new study by Conning Research and Consulting.
Reference and Statistics
CIAB Survey Shows Group Health Rates Rising Amid Uncertainty Over Economy, Health Care Reform Efforts.
WASHINGTON, D.C., Dec. 16, 2009 - As the health care reform debate continues in Congress, employee benefits consultants report increases in rates for group medical insurance in the U.S. market. According to the November Employee Benefits Market Survey by The Council of Insurance Agents & Brokers, small, medium and large employers continue to experience group medical coverage rate increases and are shifting some costs to employees through higher deductibles and co-pays and increased employee shares of premium costs.
Consumer Information
Number of physicians in Canada up 8% over five years: CIHI.
November 26, 2009 - The number of practising physicians in Canada increased at a faster rate than the population over the past five years, according to a new study released today by the Canadian Institute for Health Information (CIHI). The study, Supply, Migration and Distribution of Canadian Physicians, 2008, shows that between 2004 and 2008, the number of active physicians in Canada grew from 60,612 to 65,440, representing an 8.0% increase across the country. In comparison, the Canadian population grew by 4.3% over the same time period.
Marketing and the Market Place
DALBAR Recognizes the Best USA Web Sites in Life Insurance & Annuities.
(Boston, MA. - December 2009) In DALBAR's most recent Life Insurance and Annuity Rankings and Trending report, New York Life and AXA Equitable earned the top two places in the consumer rankings with an "Excellent" designation in the third quarter. Finishing with a "Very Good" DALBAR designation were Pacific Life, MassMutual, TIAA-CREF, SunAmerica, Thrivent Financial, The Hartford, American General and John Hancock Annuities.
from Doug:
We look forward to our sons being here for a few days, and to visiting family on Christmas Day. We wish you and yours the best of the season, a great break and just the right balance of celebrations and resolutions to bring in the new year.
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