The Chronicle: Issue 2014-27, July 8, 2014


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

Gamification: The Key to Transforming Lifeless Insurance Documents
The evolution of the Internet and the rise of mobile devices such as smartphones and tablets have placed information in the palms of our hands in unprecedented ways. These technological advances have brought with them an important shift in expectations. The shift is this: People today expect to be able to immediately interact with information presented to them. This shift has far-reaching implications for customer engagement, particularly in a document-centric industry like insurance.

Analytics In P&C Insurance: Is a Good Start Good Enough?
A new report from two senior analysts at SMA suggest that P&C insurers have made a good start down the analytics road. The question is, will this be good enough to remain competitive given the pace of adoption by present and potential competitors? A second report, focusing on the broader financial services community, puts things in perspective.

The Intersection: Insurance-Canada.ca Blog
The Intersection

an Insurance-Canada.ca Blog


Technology

Gartner: mobile apps will have significant impact on information infrastructure
With digital business blurring the line between the physical and the digital worlds, consumer-centric mobile apps are playing an important role. Gartner predicts that by 2015, most mobile apps will sync, collect and analyze deep data about users and their social graphs, but most IT leaders are failing to consider the deep impact that mobile apps have on their information infrastructure. Gartner also predicts that by 2017, wearable devices will drive 50 percent of total app interactions.

InEdge: Making the most of an Analytics Program for P&C Insurers
The dynamic nature of business in the Property & Casualty industry puts pressure on decision-makers to have the right management information. Therefore, data becomes the key to business performance as it optimizes strategic planning and helps increase operational efficiency. The question is how to generate the kind of data that will help leverage informational assets. The answer: Analytics.

Marketing

IBM's Watson partners with Genesys to power smarter customer experiences
IBM and Genesys, a leading provider of customer experience and contact center solutions, have announced a partnership that will transform how organizations of all sizes differentiate their customer experience by tapping the power of IBM Watson to transform the way brands engage clients across customer service, marketing and sales through data-driven insights and automated actions.

CFIB: Small business confidence drops sharply in June
Small business optimism took a significant downturn over the last month, according to the Canadian Federation of Independent Business (CFIB). The Business Barometer® index for June fell more than three points to 63.5 from last month's reading of 67.1.

J.D. Power study: website navigation important to younger auto insurance shoppers
When selecting an insurance company, price continues to be an important driver for all shoppers; however, younger generations – Gen X (35%) and Gen Y (35%) – are less likely to select the lowest-priced brand than are Boomers (47%), according to the newly released J.D. Power 2014 Insurance Website Evaluation Study.

Distribution

Aon and Kanetix SaaS partners to launch new quotation tool
Aon Reed Stenhouse Inc. (Aon) has partnered with Kanetix SaaS to deliver a national auto and property insurance quoting solution for its Affinity customers. Aon's Affinity programs provide insurance solutions for member associations and professional organizations, allowing their members to benefit from enhanced service and special rates.

Eastbridge study: third-party enrollment providers expand offerings to meet new demands
Today's brokers, employers and employees want enrollment systems that not only simplify and streamline benefits enrollment and administration but that are flexible enough to accommodate most enrollment requirements and multiple products from multiple carriers while still ensuring compliance. That often means providing more and varied enrollment options and better and more education on the benefits and services available. Carriers that cannot meet these demands in-house are looking to third-party enrollment providers, especially since most of the providers today are able to offer much more than enrollment technology.

Applied Systems releases Applied Rating Services 2014
Applied Systems has announced the release of Applied Rating Services 2014, the latest version of the industry-leading software suite that streamlines rating activities and allows brokerages to deliver superior customer service by using data more effectively in sales and underwriting.

Claims

Celent: Emerging Trends in Property & Casualty Claims
Megatrends including Big Data, location-based services, gamification, social media, object recognition, the Internet of Things, and changing customer expectations are transforming insurance carriers across all aspects of how they do business, and especially in claims. These trends impact the economy, society and business, and thereby define the future of insurance and its increasing pace of change.

FINEOS: Alberta School Employee Benefit Plan completes implementation of payments component solution
FINEOS Corporation, a market leading provider of core software solutions for the global Life, Accident and Health Insurance industry, has announced that its customer, Alberta Schools Employee Benefit Plan, has successfully implemented the FINEOS Payment Component Solution. The Alberta School Employee Benefit Plan, ASEBP, is a Health and Welfare Trust operating in Alberta, Canada.

Business of Insurance

Intact Financial launches national initiative to help communities adapt to extreme weather with University of Waterloo: Alberta
Intact Financial Corporation and the University of Waterloo have announced a national initiative involving the implementation of 20 climate change adaptation projects designed to reduce the physical, financial and social impacts of extreme weather events. In Ontario, Toronto and Region Conservation (TRCA) will deliver green infrastructure projects, such as channel naturalization and low impact development (LID) techniques for new and existing subdivisions, and Credit Valley Conservation will design, construct and showcase LID demonstration projects.

Consumer Information

IBAO shares boating safety tips to avoid tragedy on Ontario waterways
Ontario waterways have experienced tragedy with a number of boating accidents already recorded this season. The Insurance Brokers Association of Ontario (IBAO) is urging Ontarians to practice safety first while boating this summer.

CAMH Foundation announces Canada's largest hospital campaign for mental health
An ambitious fundraising campaign to revolutionize mental health care was announced to nearly 1,000 guests attending the 2014 Transforming Lives Awards at the Centre for Addiction and Mental Health last month.


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