Insurance-Canada.ca Newsletter Archive
Issue 2004-40: Oct 26, 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.
Business of Insurance
Omega Insurance Holdings Inc. acquires Focus Group Inc. and launches Omega General Insurance Company.
Philip H. Cook, MBA, FCIP, Chief Executive Officer of Omega Insurance Holdings Inc. is pleased to announce the acquisition of Focus Group Inc., an insurance management, consulting and run-off company established in 1986, along with the launch of Canada's newest insurer, Omega General Insurance Company.
Claims
ISB and CGI Partner to Provide Complete Police Report Coverage for the Property and Casualty Insurance Market.
Insurance Search Bureau of Canada (ISB) and CGI Group Inc. (CGI) announce an agreement to distribute accident and occurrence police reports reciprocally. This initiative will create a North America wide network for the retrieval of police reports for the Property and Casualty (P&C) insurance claims industry.
Managing Relationships
DALBAR Recognizes the Best Universal Life Statements in the Insurance Industry.
Manulife Financial, Standard Life, Canada Life and Transamerica Life Canada are the best at providing policyholders with statements that are informative, appealing and straightforward, according to DALBAR's 2004 Universal Life Policyholder Statement Analysis. These four statements were the only ones to earn DALBAR's 'Very Good' statement designation.
DWL Makes List of North America's Fastest Growing Technology Companies For Third Year: Deloitte Fast 500.
DWL, the leading customer data integration (CDI) solution provider, today announced that it has placed on the 2004 Deloitte Fast 500, a ranking of the fastest growing technology companies in North America, for a third consecutive year. DWL continues to lead in an emerging technology space called Customer Data Integration (CDI) that, according to leading industry analysts following the space, has doubled in growth over the last year.
Consumer Information
Subaru Impreza tops list of most stolen vehicles: IBC.
The Subaru Impreza WRX 4DR AWD holds two dubious distinctions this year: the top spot on Insurance Bureau of Canada's (IBC) top 10 list of the country's most frequently stolen vehicles, as well as topping the list of the ten vehicles with the highest theft claim cost per vehicle. This year's lists represent results for 2002 and 2003 models, in cases where at least one thousand of each of the models were insured.
Road crashes the leading killer of teens but poll finds Canadians not concerned: Toyota and TIRF.
The majority of Canadian drivers are not concerned about young driver safety, despite the fact that road crashes are the leading cause of death among young people, according to the findings from the Road Safety Monitor (RSM) released today by the Traffic Injury Research Foundation (TIRF).
Local partners joins youth oriented BC road safety program: C.A.R.S.BC and Thrifty Foods.
C.A.R.S.BC and Thrifty Foods team up for the second year in a row to teach young drivers to be safe. The goal is to promote road safety in communities in order to save lives – one student at a time.
Nova Scotia WCB Launches Social Marketing Campaign To Reduce Workplace Injuries.
Every day in Nova Scotia, 24 people are seriously injured on-the-job, giving Nova Scotia one of the worst accident frequency rates in Canada. Later today the Workers' Compensation Board (WCB) of Nova Scotia launches a major social marketing campaign aimed at reducing the number of workplace injuries.
J.D. Power and Associates Reports: Stricter Automotive Safety Regulations Will Nearly Double the Demand for Airbags by 2011
As stricter regulations move vehicle manufacturers toward making vehicles safer in side-impact collisions, the demand for airbags in North America will nearly double by 2011, according to the J.D. Power and Associates 2004 Global Automotive Airbag Market StudySM.
Distribution
(From Canadian Insurance E-NEWS:) IBAO Company CEO Panel Addresses Profitability.
Two years ago insurers in Canada were struggling for survival with major capital deterioration. An all-star CEO panel at the IBAO's 84th annual convention told delegates that legislative reform accomplished in Ontario, Atlantic Canada and Alberta have led to reduced costs and to the removal of abuse in the system, resulting in lower claims and reduced premiums for consumers.
New Eastbridge Report Examines the Worksite Market.
Today, there are over 120 insurance companies active in worksite marketing and voluntary products. The market grew in 2003 at about seven percent and sales were in excess of $4.3 billion.
illustrate inc Announces the Appointment of Brian Holness to Head the Business Development Team.
Zahir Dhalla, President and CEO of illustrate inc, a leading developer of policy illustration solutions to the life insurance industry, is pleased to announce that Brian Holness has joined the illustrate inc team as Vice President, Business Development.
Our People
Making For A Productive Workplace: Canadian Workers Tell What Matters Most: Ipsos-Reid/Juice Inc. survey.
A new Ipsos-Reid/Juice Inc. survey released today reveals that when asked to grade their employers with respect to five work-environment statements, employed Canadians give their employers an overall grade-point-average (G.P.A.) of 2.93, approximately representing a "C+". In fact, a minority of four in ten employed Canadians (38%) provide an overall grade of "A" for their employer in these five areas.
Marketing
Online Banking Gains Canadians' Interest: eMarketer
The number of Canadians banking online grew from 8.7 million in May 2003 to 11.8 million in August 2004, a 36% increase. Currently, 64% of all Internet users in the country have visited banking Web sites.
Reference and Statistics
North American Life Insurance Activity Off 3.2% in September: MIB
Applications for life insurance in North America declined -3.2% in September year-over-year. Activity for the third quarter 2004 lagged that of Q3 2003 by -1.5%; it was the third straight year where Q3 activity lagged that of the prior year. Year-to-date, U.S. and Canadian activity was off -1.4% and -0.3%, respectively, in what continues to be a relatively stable year for individually underwritten life insurance applications.
(From Canadian Insurance E-NEWS:) USA Property/Casualty Industry's Income and Surplus Up.
An ISO press release reports the U.S. p&c insurance industry's net income after taxes rose to a record $23.5 billion in first-half 2004 from $14.5 billion in first-half 2003, as both underwriting and investment results improved.
eBusiness and Technology
Innovation breeds growth and survival, say Business Leadership Forum speakers: IBM.
As the banking industry increasingly consolidates, small and medium size banks face tougher challenges in differentiating themselves and surviving. Speaking at the Business Leadership Forum in Paris on Friday, Juan Arena, chairman and CEO of BANKINTER, told what he called, "the story of a bank which can survive in this world by being different through innovation, transformation and change."
from Doug:
Big day for me last Saturday, to run a Board meeting of a National Group. Great people, from coast to coast to work with, and be friends with. In spite of distances, a common objective and interest can really bring people together.
