The Chronicle: Issue 2011-09, March 1, 2011
Distribution
Keal Technology and Lloyd's Canada Commercial Integration Released.
TORONTO, Ontario, Canada - February 23, 2011 - Today, Keal Technology, software provider for Canadian insurance brokers, announces they have completed an integration project with Lloyd's Canada. Keal's Commercial Management System (CMS), comXP, and Lloyd's Lineage system are now integrated to streamline broker workflows.
CCIR Issues Paper "Managing General Agencies Life Insurance Distribution Model".
The Agencies Regulation Committee (ARC) of the CCIR recently issued an issues paper. This first paper deals specifically with MGA and Associated General Agency (AGA) distribution models in life insurance, and, in particular, individual life insurance. Its purpose is to stimulate debate about the issues, to launch a process of consultation, and to educate and to build a common understanding of the topic and issues for both regulators and stakeholders.
Eastbridge: New Report on services provided to brokers by voluntary carriers now available.
AVON, CONNECTICUT, USA (February 17, 2011) - Attracting brokers is no easy feat for most voluntary carriers, especially given the sheer number of carriers trying to attract a limited number of brokers. Providing top-rate products is an important factor, but it is often more of an expected standard rather than a key or lasting differentiator. That's why many carriers today have turned to offering value-added services to help them catch the brokers' attention.
Claims
Celent Report: Claims System Vendors: North American P/C Insurance 2011.
San Francisco, CA, USA - January 27, 2011 - In a new report, Claims System Vendors: North American P/C Insurance 2011, Celent looks at 22 core claims solutions. Sixteen have full profiles, and are ranked in the ABCD Vendor View grids. Six have shorter profiles and are not ranked. The report also has the first four claims systems XCelent Awards for Technology, Functionality, Customer Base, and Service.
Our People
MCCG Seeks Vice-President of Client Relations.
MCCG (Mutual Concept Computer Group Inc), recognized as a leading provider of back-office solutions for Farm Mutual Insurance companies, seeks a VP of Client Relations, a new position required to support MCCG?s growing client base.
eBusiness and Technology
Celent Report : Still Seeing the Shadow: Groundhog Day for Legacy Modernisation (P&C Edition).
London, United Kingdom - February 07, 2011 - Insurers are tackling the challenge of legacy systems head on. Almost half of P&C insurers report that they are well under way in their modernisation projects.
Gartner Identifies Seven Critical Questions to Ask Before Developing a Social Media Policy.
STAMFORD, Conn., February 10, 2011 - Social media disrupts the long-standing rules of business in many ways, but crafting a social media policy is premature unless the designers of the policy answer seven critical questions first, according to Gartner, Inc.
IBM World Community Grid Registration Skyrockets 700%, In Watson's Wake.
ARMONK, N.Y. - 18 Feb 2011: Watson wasn't the only computer system that won this week when it competed successfully against two human champions on the Jeopardy! game show. The other computing system is called World Community Grid, a virtual supercomputer that helps scientists solve humanitarian challenges by tapping the unused computing power of personal computers around the world.
IDC's Worldwide Black Book: IT Spending Outperformed Expectations in 2010, Reaching $1.5 Trillion.
FRAMINGHAM, Mass., February 9, 2011 -- Global spending on information technology (IT) surged to its fastest rate of growth since 2007 last year, driven by pent-up demand for hardware upgrades and infrastructure investment after the financial crisis and global recession of 2009. According to the new International Data Corporation (IDC) Worldwide Black Book, the global IT market grew by 8% year over year to more than $1.5 trillion at constant currency.
Marketing and the Market Place
eMarketer: US Retailers Help Boost Canadian Ecommerce.
FEBRUARY 23, 2011 - The Canadian ecommerce market has been slower to pick up steam than in the US. Major obstacles stand in the way of online buying, including limited product selection, the lack of a catalog culture that facilitates buying products sight unseen, and high shipping costs. But over the next few years ecommerce in Canada will begin to realize its potential.
eMarketer: B2B Sites See Big Rise in LinkedIn Logins.
FEBRUARY 22, 2011 - Business-to-business (B2B) websites share the same reasons to offer social sign-on to their visitors as business-to-consumer sites?a wealth of information on their registered users, plus the ease of allowing users to carry their identity around with them rather than forcing them to fill out yet another online form. But data from a major social sign-on provider suggests that B2Bs need to offer more than Facebook Connect to serve their business customers.
Business of Insurance
Aite Group: Canadian Asset Managers: Ahead of the Curve.
Boston, February 14, 2011 - A new report from Aite Group presents an in-depth snapshot of the Canadian asset management space, including its current priorities and concerns. Based on in-person Aite Group interviews with Canadian asset managers in spring and summer 2010, the report is the first in a series of Aite Group reports focusing on the Canadian market.
Consumer Information
CLHIA: Ninety Percent of Canadians Support Pooled Registered Pension Plans.
TORONTO, Feb. 22 2011 - Working Canadians have overwhelmingly said they want a program that makes it easier for employers to offer a pension plan, according to a recent poll conducted by Research House on behalf of the Canadian Life and Health Insurance Association (CLHIA).
IBAO applauds Toronto Police Service for week-long distracted driving campaign.
(Toronto, Ontario), February 23rd, 2011 - Today, the Insurance Brokers Association of Ontario (IBAO) is applauding the Toronto Police Service on their "Last Call: Whatever You Have To Say Can Wait" campaign that highlighted the dangerous consequences associated while driving with a hand-held device. The campaign began on Monday, February 14th and concluded this past Sunday.
The I.I.I. Offers Auto Insurance Information For Winter-Related Damage.
NEW YORK, February 18, 2011 - After enduring snow, wind, ice and frozen rain, drivers now must deal with a another challenge: potholes. Streets and highways have turned into obstacle courses in many parts of the country; fortunately, there is auto insurance coverage for damage resulting from potholes and other winter-related disasters, according to the Insurance Information Institute (I.I.I.).
from Doug:
Conference is over for another year and I have a big sense of relief. It seemed to go well. There are always a few little glitches, due to an oversight or a miscommunication, but everyone was helpful and those issues that I know of were all resolved. When I visited at 7:30 am the room where our evening ICTA awards dinner was to be held, it was empty except for four clusters of balloons and a pallet of cardboard boxes of things for some event. Upon my return at 6:00 pm, it was, comparatively speaking, a magical fairyland. What a transformation, but I suppose hotels do that every day.
The biggest momentary heart failure was a speaker email early Monday morning which indicated he was unable to get back from Asia in time to speak - but then gave me back life when he continued to note that another of his team at the conference would do his presentation. No wonder that what is left of my hair is nearly all gray now.