Insurance-Canada.ca Newsletter Archive

Issue 2003-49:   December 9, 2003

This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.




Business of Insurance and Products

Economic Study Sheds Light on Complexities of Government-run Auto Insurance: IBC.

The Centre for Spatial Economic and Shift Central Inc. released a study today which shed new light on the debate around Public vs. Private Auto Insurance. These are key findings that need to be taken into account in further discussions. A government-run auto insurance system in New Brunswick would have significant negative effects on the provincial economy and the government's fiscal position, according to the study.

Maritime Life offers five new segregated funds to investors.

Maritime Life today announced the addition of five new funds to its segregated fund family - Canadian Bond Index Fund, Fidelity Canadian Asset Allocation Seg Fund, Talvest Millennium High Income Seg Fund, Trimark Income Growth Seg Fund, and Trimark Seg Fund.

Claims

IBC: Partnerships are key in the fight against auto theft.

Insurance Bureau of Canada joined with Toronto Police in announcing the initial results from Project Heat (Help Eliminate Auto Theft). In the first three weeks of the latest round of Project Heat, Toronto Police have laid charges against 59 individuals in connection with auto theft.

Public awareness and education key to reducing auto insurance fraud: Manitoba Public Insurance.

With the goal of educating Manitobans about insurance fraud and what constitutes an unethical decision, Manitoba Public Insurance is launching a new "Fraud Awareness" quiz. The 10-question quiz, which was launched on the World Wide Web today, can be found on www.mpi.mb.ca. The questions range from what a person should do when they become involved in a minor collision, to what they should do when they know someone who is deliberately committing insurance fraud.

Managing Relationships and Customer Service

Standard Life - Breakthrough in on-line retirement planning for Canadian workers.

Standard Life announced two key additions to its free on-line retirement planning and educational services available in its VIP Room Web site for Group Savings and Retirement plan members: the "Retirement Income Illustrator" and additional learning modules from "The Financial Educator Inc.".

Distribution

illustrate inc Leverages Power of Microsoft® .NET Platform for Suite of Illustration Solutions.

illustrate inc, a leading developer of policy illustration solutions to the life insurance industry today announced its commitment to include the powerful Microsoft® .NET platform in its base development platforms.

Life Insurance Distribution: Getting a $50 Billion Gorilla to Sing: Conning.

Of the 50 largest life insurance and annuity companies, relatively effective distribution systems are likely in the minority, according to a new study by Conning Research and Consulting, Inc. The Conning Research study, "Life Distribution-Getting a $50 Billion Gorilla to Sing," compares the relative effectiveness of the top 50 life companies, and identifies the most, and the least, important factors that drive effectiveness.

CSIO Insurance Portal Status Update

Week ending December 5: Scottish and York have now signed off on their Ontario Property Rates, with promotion to follow.
IBM and CSIO have completed their transition plan for the Portal Technology and the actual transition has now begin

Policy Management and Administration

SOLCORP Awarded Multi-Year Contract With Great-West Life; Great-West Selects SOLCORP / INGENIUM as Strategic Technology Platform.

SOLCORP, a leading provider of software solutions to the life insurance and financial industries and a subsidiary of EDS, announced today that The Great-West Life Assurance Company has entered into a license agreement to extend the INGENIUM license originally acquired by its subsidiary, The Canada Life Assurance Company.

eBusiness and technology

Sun Life Financial celebrates successful integration of Clarica Life Insurance.

Mission Accomplished! That's the message from Donald A. Stewart, Chief Executive Officer of Sun Life Financial Inc., and Bob Astley, President of Sun Life Financial Canada, as they mark the successful completion of a two-year journey to integrate the operations of Clarica into Sun Life Financial.

Markel Insurance (USA) Improves Service with Document Management System OnBase from Hyland.

THE SITUATION: Markel wanted to enter the new business year with a forward-moving plan. The company was relocating its Illinois office (Shand Morahan, A Markel Company) to a new building and used the move as a catalyst for improved customer relations company-wide.

Appraisals: Valuation for Insurance and Claims

Are You Considering Equine Insurance? By Carla Dickhaut, Equine Appraiser.

Insurance coverage for your horse is a subject of considerable importance. To not insure just because you are undecided as to what to do can affect your finances considerably. If the task of researching your insurance needs feels overwhelming maybe this article can help you formulate a plan.

Awards

Manulife's Dominic D'Alessandro Receives Canadian Investment Funds Career Achievement Award.

Dominic D'Alessandro, President & CEO of Manulife Financial, has been awarded the Canadian Investment Funds Career Achievement Award in recognition of his contribution, and that of Manulife Financial, to the growth of the overall investment funds industry in Canada.

Consumer Information

More Choice for New Brunswick Consumers: Aviva Insurance Company Expands.

Choice in the personal insurance market just got better in the province of New Brunswick. New provincial regulations resulting from teamwork between the government and the insurance industry, based on a mutual desire to improve insurance offerings for consumers, have enabled Aviva Insurance Company to expand its personal lines market in Northern New Brunswick.

New 40 MPH Crash Test Results: 8 of 9 Midsize SUV's Earn Top Rating of Good: IIHS.

In frontal offset crash tests conducted recently by the Insurance Institute for Highway Safety, eight new or redesigned midsize SUVs earned ratings of good, and one is acceptable. Three luxury models (Lexus RX 330, Infiniti FX, and Cadillac SRX) earned good ratings overall and the added designation of "best pick."

The Insurance Community

Crawford launches "Crawford Cares" community relations program.

Glenn Gibson, chief executive officer of Crawford Adjusters Canada, announced the official launch of the "Crawford Cares" community relations program. This unique program combines charitable donations and employee volunteerism from Crawford offices across Canada.

2003 National Caregiver Award Recipient Honoured by Allianz Canada.

Gail Budd, an Oshawa, Ontario single parent to two severely handicapped, adopted sons, has been honoured as the 2003 Allianz Canada National Caregiver Award recipient. The award, along with a cheque for $10,000, was presented by Roger Randall, President and CEO of Allianz Canada, in a special ceremony yesterday in Gail's home.

from Doug:

Procrastination and Cleaning Eaves a good combination does not make. At least the sun shone whilst my fingers froze as I pulled out the debris imbedded in frozen ice chunks. Somehow the leaves don't fall from that tree until the winter is upon us; maybe I should just chop it down?
Enough; now to find the Christmas spirit. May you have lots.