The Chronicle: Issue 2011-13, March 29, 2011
Distribution
Pembridge Insurance Company Partners with Applied Systems to Expand Availability of Broker Connectivity.
March 21, 2011- Markham, ON - Pembridge's Broker Connectivity solution will soon deliver billing and policy inquiry functionality to brokers using Applied Systems TAM® (The Agency Manager®) and WARP, Applied Systems? real-time technology. Brokers? workflow will begin and end in the Broker Management System (BMS), ensuring an efficient workflow without the use of a portal. Pembridge and Applied Systems also plan to deliver Broker Connectivity Auto New Business Upload soon after.
Web Wizards Inc: Cross Sell Your Customers.
Think of every insurance retail location as a McDonalds drive-thru and how counter staff often asks "Would you like fries with that?" Sometimes all you need is a reminder. Although cross -selling is no new technique, when applied to the insurance industry, especially in retail locations where there is opportunity to be face to face with clients, the value is evident. Brokerages will benefit from cross-selling to their current customers, if they track and manage it correctly.
Eastbridge: New report on services provided to brokers by voluntary carriers now available.
Avon, Connecticut, USA (March 15, 2011) - All carriers have to establish a structure for attracting producers to sell their products. For many carriers, this means establishing field offices. With so many carriers vying for the attention of a limited number of producers, the role of the field office is critical. Whether large or small, these offices serve as the carriers' eyes and ears by keeping in close contact with local producers and, in many cases, their accounts.
Our People
Economical Recognized for Excellence In Workplace Learning.
Waterloo, ON - The Economical Insurance Group® was named a top 100 learningfocused
company at Elearning Media Group's inaugural Learning 100 Awards
conference in Washington, D.C., on March 22, 2011. The North American awards program recognizes excellence in learning across
enterprises that invest in truly immersive learning cultures. Up to 100 organizations from
varying industries are acknowledged for their best-in-class learning and development
programs.
Business of Insurance
IBC:They cheat, you pay — Insurance fraud on the rise in Ontario.
March 23, 2011 - Toronto, ON - Insurance fraud is estimated to be a multi-million-dollar business in Ontario, contributing to the high cost of auto insurance in the province. As March is Fraud Prevention Month, Insurance Bureau of Canada (IBC) urges consumers to take the time to learn how to identify insurance fraud and report suspicious activity.
Claims
Great-West Life now offers an industry-first suite of eClaims services for group insurance customers and plan members.
WINNIPEG, March 23, 2011, 2011 - Great-West Life has enhanced its customer service capabilities with an industry-first suite of electronic claims services for group insurance customers and plan members. These eClaims services give Great-West Life plan members options to submit their claims - directly through their provider, online, with a card or on paper - which are unmatched in the Canadian industry.
ISO and NICB Renew Agreement and Strengthen Insurance Fraud Fighting Relationship.
JERSEY CITY, N.J. and DES PLAINES, Ill., March 21, 2011 - ISO and the National Insurance Crime Bureau (NICB) have announced the renewal of an agreement that will continue the two organizations' long-term business relationship. The announcement was made today at the opening of the annual Insurance Fraud Management Conference sponsored jointly by the organizations.
ISO Releases Enhanced Fraud-fighting System: NetMap for Claims™ 5.0.
JERSEY CITY, N.J., March 22, 2011 - ISO announced the release of its new and improved NetMap for ClaimsTM and NetMap for ClaimSearchTM software, version 5.0, at the recent NetMap® User Group Meeting in Tampa, Florida. The NetMap suite of products uses visual link-analysis technology to help claims and investigations personnel efficiently identify and fight fraud in insurance claims.
eBusiness and Technology
Gartner Says 2011 Will Be the Year of Platform as a Service.
STAMFORD, Conn., March 14, 2011 - All the leading enterprise software vendors, as well as large cloud specialists, will introduce new platform-as-a-service (PaaS) offerings this year, making 2011 the year of PaaS, according to Gartner, Inc. These leading vendors are expected to deliver new or strongly expanded PaaS service offerings and cloud-enabled application infrastructure products.
Policy and Product Management
Guidewire Solution for Policy Administration and Billing Selected by RACQ Insurance.
QUEENSLAND, Australia and SAN MATEO, California, USA, March 24, 2011 - RACQ Insurance ("RACQI"), a leading provider of motor vehicle and household insurance to over 1.4 million policyholders throughout Queensland and northern New South Wales, and Guidewire Software®, today announced that RACQI has selected Guidewire InsuranceSuite as its new policy administration and billing platform. This builds on RACQI's existing investment in Guidewire's core system suite.
Managing Relationships and Customer Service
Dalbar: Universal Life statements trails behind all other industry segments in service quality.
Toronto, ON - February 23, 2011 - The results from DALBAR's recently released Trends and Best Practices in Universal Life Statements report show this industry trailing behind all other segments. The industry benchmark for this segment was the lowest average score recorded for industry studies conducted in the past two years, such as the mutual fund, managed portfolio, brokerage, and defined contribution pension plan industries.
Consumer Information
Canadian Life and Health Insurance Industry Welcomes Quebec's Action on Retirement Savings.
TORONTO, March 18, 2011 -The Canadian Life and Health Insurance Association (CLHIA) congratulates the Quebec government for showing leadership in improving Quebecers' access to workplace retirement plans. The budget proposes "Voluntary Retirement Savings Plans" (VRSPs), based on the pooled registered pension plan (PRPP) framework recommended by Canada's Finance Ministers late last year. All businesses would be required to offer VRSPs if no other workplace retirement plan is available.
Allstate Canada: provides advice for a safer, more organized home.
TORONTO, March 22, 2011 - Spring is a great time to clean and purge items from your home, but with recent attention given to hoarders and hoarding, it is clear that some people have a difficult time letting go. Besides health and safety concerns, there could be insurance implications if your home or garage becomes overrun by clutter.
TIIAC: Giving the choice of Title Insurance to Quebec Consumers.
MONTREAL, March 24, 2011 - If you ever wondered what Title Insurance was
you are among the vast number of Quebec consumers who haven't heard of
it or have had issues with their property and wished they had purchased
it after the fact. The need for Quebec consumers to hear about the
benefits of title insurance is timely as the home resale market begins
to heat up in 2011 across the province.
Marketing and the Market Place
Forresters Forecasts Provide Global View Of Online Retail's Changing Landscape.
Cambridge, Mass., February 28, 2011 - Online retail in both the US and Western Europe will continue on a double-digit growth trajectory over the next five years, according to two new forecasts released today by Forrester Research, Inc. Both US and European online retail will grow at a 10 percent compound annual growth rate (CAGR) from 2010 to 2015, reaching $279 billion in 2015. The forecasts include business-to-consumer sales excluding travel and financial services. The European forecast encompasses 17 Western European nations and includes a category-by-category breakdown of online retail across these markets.
from Doug:
Dad is standing up well. After a hiatus of several months, he is back into his own personal exercise program at the fitness room in the Senior's Residence. In spite of the unseasonably chilly weather, he and his walker have been out for short walks the last several days. Last week he took another step and gave up his car to my brother. He had only driven it two or three times since before Christmas. He felt some lack of confidence while driving, and combined with low usage and the cost of ownership and insurance, figured it was not worth it any longer. The brother who got the car is of the sixties counter-culture – a guitar player and band member with no car since last year. A perfect fit. Unlike several others in the residence who have given up their cars recently, but not by choice, Dad feels good about it.