Insurance-Canada.ca Newsletter Archive
Issue 2004-22: June 8, 2004
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.
Distribution
PlanPlus Inc. Advisors gain Access to Novinsoft Insurance Portal.
PlanPlus Inc. and Novinsoft Inc. jointly announced today that all advisors using the PlanPlus Web Advisor on-line Financial Planning system are now hyper-linked to the Novinsoft Insurance Portal. This is the second on-line service to be integrated with the Novinsoft Portal. The CoVirt VirtGate Agency Management System was integrated earlier this year.
Seeing Rapid Growth of New Sales and Conversions, Applied Systems Re-Brands ASP Products for Agents, Brokers.
Responding to increasing demand from independent insurance agents and brokers for online agency management system services, Applied Systems has renamed the hosted environment versions of its flagship products.
e-Business and Technology
Seminar: Information Access and Analytical Reporting for the Insurance Industry: SQLiaison.
You are cordially invited to a free seminar Tuesday June 22nd, 2004 featuring Philippe Torres, SQLiaison Inc, Vice-President Research & Development, and a case study about AVIVA's use of the SQLiaison product FellowDSS, with Gerry Lee, Aviva Canada, Vice-President of Information Management Services.
Seminar: Getting Results from Outsourcing: Operating Model, Risk and Governance Implications: June 24 by iGATE.
Outsourcing today is viewed alternately as a way to reduce costs, a path to competitive advantage, and a threat to the livelihood of developed economies. This session will highlight how execution allows companies to get results from their BPO efforts, and point out how those things that surround the BPO deal itself are just as important when it comes to realizing the value.
SAS announces next step in evolution of risk management.
The challenging economy, increased competition, and new regulations such as Basel II and Sarbanes-Oxley are driving increased demand by businesses for risk management controls. To meet this growing need, SAS, the leader in business intelligence, today announced the latest and most powerful version of SAS® Risk Dimensions®, its enterprise risk management solution.
Enterprise Solutions Critical to Driving Competitive Differentiation Among US Insurers" TowerGroup Study.
A new study by TowerGroup of some of the nation's top Property & Casualty (P&C) insurers finds that achieving an "enterprise view" of IT strategy, planning, priority-setting and architecture is the next major technology hurdle facing the industry – as well as a critical pathway to achieving competitive advantage.
IT Security Issues in Insurance: Reports Published by Celent.
Security is a top priority for insurance IT groups. The recent growth of privacy regulations along with the explosion of hacks, viruses, worms, and other threats that can compromise information, damage networks, and cripple business processes, have put the issue of security at the forefront.
Reference and Statistics
IBC's Perspective May 2004 - A quarterly analysis of economic trends in Canada's P&C insurance industry.
This issue of Perspective looks at the falling price of auto insurance across Canada, the Minimum Capital Test, Automobile claims and premiums, and easing availability concerns.
Business of Insurance
Canadian Life and Health Insurance Association announces new Chairman and Board of Directors.
At the Annual Business Meeting of the Canadian Life and Health Insurance Association, Inc. held in Montreal today, Donald A. Stewart, Chief Executive Officer of Sun Life Financial Inc., was elected Chairman of the Association for the year ahead.
Conning Research: Variable Annuities Recover Profitability in 2003; Industry Seeks New Features to Entice Baby Boomers.
Variable Annuities rode out the "perfect storm" that hit the capital markets in recent years, returning to profitability in 2003, according to a study by Conning Research & Consulting. Preliminary data in the study, "Variable Annuities: An Industry in Transformation," reveal that the individual annuity industry returned a profit of $7 billion in 2003, primarily due to the swing on variable annuities.
Policy Management
Kinnect Among First to Meet New ACORD Standard.
Kinnect, the Lloyd's-backed messaging system to support electronic placing of risks, is one of the first organisations to meet the latest standards for data transfer set by global standards body, ACORD.
Claims
Government and University support Pilot of The Electronic Courthouse.
A Pilot of the Electronic Courthouse™ will be carried out under the direction of McMaster e-Business Research Centre (MeRC), an international Centre of Excellence for research in business innovation. Dr. Yufei Yuan, Professor of Information Systems, MeRC, will lead the research project.
Auto Insurance
Newfoundland and Labrador Government introduces auto insurance reform legislation.
Legislation that will provide for auto insurance reforms and a reduction in premiums in this province has been introduced in the House of Assembly.
The Dominion of Canada General Insurance Company serves notice of withdrawal from Newfoundland and Labrador personal auto insurance.
"We are deeply offended by the punitive insurance legislation tabled last week by the Government of Newfoundland and Labrador", said George Cooke, President and Chief Executive Officer of The Dominion of Canada General Insurance Company. "I have written to the Premier today, strongly urging him to withdraw this Bill and to start over and get it right."
Consumer Information
Consumers' Association Calls On Alberta Government To Return To The Drawing Board on Auto Insurance.
The Consumers' Association of Canada today called for the Alberta Government to go back to the drawing board on the auto insurance issue. "Consumers in Alberta are upset with the Government of Alberta's lack of solution on the auto insurance issue", said Mr. Bruce Cran, President of the Association. "Clearly, the Government's current solution is no solution at all for Alberta consumers".
Driving Instructors Tell Parents: Practice Practice Practice: I Promise Program.
Teen driver car crashed remain the leading cause of permanent injury and death in youths and this year, the National Safety Council has declared this year's National Safety Month as “Crash-Free June.”
from Doug:
I spent a four-day weekend with the Loyalist heritage group in Peterborough. How much the city has changed since I lived some 35 miles east in my teen years. We saw much of interest, Lang Century Village etc. but the Canoe Museum really stands out in my mind. Should you ever be close to Peterborough, and have an interest in canoeing, history or both, don't miss it. Sixty years ago, one of those at our conference had been in the D-Day landing. His being here today, he attributes to luck. The minister at the Sunday Service outlined the parallels between the Loyalists in 1776-84 and those who contributed so much in Normandy. Thanks to them - let us not forget.
