The Chronicle: Issue 2014-20, May 20, 2014


What's Going Through The Intersection of Insurance and Technology?

HR and Big Data: A Marriage Made in Analytics Heaven?
At a Business Analytics Summit in Toronto, the sponsor, IBM, opened one session by asking the question, “Which reporter was fired because she was ‘unfit for TV’?”

The answer was Oprah Winfrey. The session, entitled “Attracting, Developing, and Retaining Outstanding Human Capital,” focused on the use of Big Data and Analytics to improve accuracy in HR functions, such as hiring TV reporters.

Our question to you: could the insurance industry in Canada benefit from these tools in managing staffing needs?

The Intersection: Insurance-Canada.ca Blog
The Intersection

an Insurance-Canada.ca Blog


Business of Insurance

Celent: The Internet of Things and Life & Health Insurance
The Internet of Things will change the life and health business: can an old industry learn new tricks? The world is changing. It is becoming more connected. People, places, and things are using these connections to exchange an exploding amount of digital information and data. This digital stuff is stored and analyzed, and then yields predictions, feedback, and control.

Consumer Information

Be Prepared”: The Boy Scout approach to small business and bad weather
The famous Boy Scout admonition seems to be a good motto by which to manage your life. If part of your livelihood is running a small business, the same adage applies there. Understand your risks; prepare an action plan – even a simple one – to draw upon in case the risk becomes a real event; and backstop your financial exposures with insurance.

Claims

Accident Support Services International opens Niagara Falls collision reporting centre
The Niagara Regional Police Service and Accident Support Services International Ltd. (ASSI), facilitators of Collision Reporting to the insurance industry, are pleased to announce the opening of the Niagara Falls Collision Reporting Centre on Tuesday, May 20. This is the Niagara Region's second collision reporting centre. The Niagara Falls Collision Reporting Centre will provide enhanced value to the public in Niagara Region in the reporting of vehicle collisions by providing a faster and safer response to property damage collisions.

Distribution

Swiss Re sigma study: technology is quietly revolutionising insurance distribution by increasing consumer centricity
Technology is changing the way insurers and consumers interact, says Swiss Re's latest sigma study, “Digital distribution in insurance: a quiet revolution.” Based on extensive analysis of research material for different countries, the study shows that the internet and mobile devices are empowering consumers. Today, people can search, review and purchase insurance policies without relying solely on the services of intermediaries. At the same time, developments in Big Data are facilitating access to a rich source of data about customers, which insurers can use to enhance sales and marketing strategies. Digital transformation overall can help insurers become more consumer-centric.

CSIO releases eDocs Savings Calculator
The Centre for Study of Insurance Operations has released its eDocs Savings Calculator, which allows brokers to calculate the daily, monthly and yearly time and cost savings gained by implementing eDocs. Featuring a user-friendly interface, the eDocs Savings Calculator is available in both English and French.

Aviva Canada re-launches refreshed website
Aviva Canada, one of the country's leading providers of home, auto, recreational vehicle, group and business insurance, has announced the re-launch of AvivaCanada.com. The new website includes a number of enhanced features designed to serve both customers and brokers better.

Marketing

Peel Mutual Insurance Company introduces automated single sign on workflow through Brovada's NexCenter
Peel Mutual Insurance Company is pleased to announce the launch of an automated sign on transaction for their brokers. The workflow leverages the password management capabilities of Brovada's NexCenter product and allows brokers to log into Peel's Broker portal directly from their Broker Management System.

Policy Management

Guidewire: Promutuel Insurance selects PolicyCenter for underwriting and policy administration
Promutuel Insurance, one of Quebec's largest Property/Casualty insurers, and Guidewire Software, Inc., a provider of software products to P&C insurers, has announced that Promutuel Insurance has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution. Promutuel Insurance has also selected Guidewire Rating and Guidewire Reinsurance Management™. PolicyCenter will be used for Promutuel Insurance's commercial and farm lines of business. Guidewire PartnerConnect™ Affiliate member, V-NEO, has been selected to lead the implementation project, with Guidewire working in close collaboration.

In The Community

Aviva Canada and Kindness Counts call on Canadians to #FeedtheDeed
Aviva Canada, a leading provider of home, auto, recreational vehicle, group and business insurance, has announced that its Aviva Community Fund has teamed up with the not-for-profit organization Kindness Counts to encourage Canadians to perform random acts of kindness.


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