Issue 2006-05: January 31, 2006

eBusiness and Technology

The Value of Mentoring: by Peter Symons, OARBIC.
George Bernard Shaw was wrong when he said "Those who can, do. Those who cannot, teach". With a well structured program, 'Those who can, not only do, but can also teach". One of the challenges the IT departments in many Insurance Companies have is ensuring their software expertise is not concentrated in just two or three "experts". One way to do this is through a Mentorship Program.

Independent Analyst Firm Positions Information Builders in Leader Quadrant for Business Intelligence Platforms.
New York, NY - January 11, 2006 - Information Builders, the enterprise business intelligence (BI) standard of choice for organizations around the world, today announced it has been positioned in the leader quadrant of Gartner, Inc.'s 1Q06 "Business Intelligence Platform Magic Quadrant" report.

Business Process Management: anatomy of an integrated solution: NewLink Group.
The term Business Process Management (BPM) is used in a number of varying contexts, from both a change management and a technology perspective. Many articles and analysis identify and list the requirements and the benefits of a BPM implementation. However, a crucial element is missing from these stories: how can we maximize the benefits of such initiative. We propose an approach that position BPM in its global business context.

InSystems Writer to Help KMG America Create State-Compliant Policies Faster.
MARKHAM, Ontario, Dec. 19, 2005 - Employee benefits provider KMG America, and its wholly owned subsidiary, Kanawha Insurance Company will be implementing InSystems Writer 1.1, the latest speed-to-market-enhancing solution from InSystems, the specialist in complex document and compliance automation for insurance and financial services.

Claims

Windsor Investigation Services Now Serving London and the Surrounding Area.
After years of our clients requesting W.I.S. to expand into the London and surrounding area, W.I.S. is pleased and excited to announce the opening of its London office. Our experienced investigators, with their full priority on the London area, will be providing the services. And as usual, clients will be provided with our detailed and precise reports.

MSB Executive Seminar Touts Analytics, Best Practices To Improve Carrier Performance.
MISSISSAUGA, ON - JANUARY 25, 2006 - Marshall & Swift / Boeckh (MSB), an MDA company, and the leader in building cost information, estimating technologies and management strategies, hosted a meeting today where 50 key thought leaders from across the Canadian insurance industry participated in an executive forum entitled "Applying Best Practices."

Distribution

CITS CLIEDIS Project Update Jan 23, 2006
At the last CLIEDIS SRC meeting held on Jan 11th, a number of outstanding CITS related issues were addressed and closed.

Western Financial Group announces strategic partnership with Sawchuk Group.
HIGH RIVER, AB, Jan. 23, 2006 - Western Financial Group announced that it has entered into a strategic partnership with the Sawchuk Group in the ownership of Northcountry Insurance Agencies, an insurance agency operation with offices in Smithers, Vanderhoof, Houston, Williams Lake, 100 Mile House, Burns Lake and Fraser Lake, British Columbia.

Conning Research: Life Settlements Market Grows to $5.5 Billion in 2005.
(Hartford, CT) January 12, 2005 - The life settlements market continues to expand rapidly despite some continuing obstacles, according to a new study by Conning Research and Consulting, Inc. Life settlements provide a secondary market alternative to seniors who hold policies they think they no longer want or need. As this market grows, it can provide an attractive alternative to surrender, assuming that the current trend towards increased transparency and disclosure continues.

Marketing and the Market Place

Canadians Talk About Their RRSPs And Retirement Savings Plans: Ipsos-Reid.
January 9, 2006 Toronto, ON- According to a recent Ipsos Reid RBC survey released today, retirement savings is an issue of major priority for most Canadians, as the largest percentage (38%) point to "retirement savings" when asked what are their biggest financial priorities for them right now, while issues like making "regular payments to reduce debt" (28%) and "just trying to keep their head above water" (27%) trail further back on their priority list.

IRC Study Finds Many Policyholders Do Not Understand How Choosing Higher Insurance Deductibles Can Lower Premium Costs.
January 23, 2006 Malvern, PA.- More than four-in-ten Americans who have a homeowners policy do not understand the relationship between a deductible and a premium, according to a recent study by the Insurance Research Council (IRC). Even among those who know that their homeowners, renters, or condominium owners policy has a deductible, 38 percent do not understand that when the deductible increases, the amount of the premium decreases.

Product Announcements

Empire introduces 100% maturity guarantee option for segregated fund plans.
January 25, 2006 Kingston, Ontario - The Empire Life Insurance Company (Empire) has introduced a 100% maturity guarantee option for clients investing in its segregated funds and who want the comfort of knowing their deposits are guaranteed.

Managing Relationships and Customer Service

Manulife Mutual Funds ranks first in customer service for five consecutive years.
TORONTO, Jan. 25, 2006 - For the fifth consecutive year, Manulife Mutual Funds, a division of Elliott & Page Limited, has been named the best in Canada for customer service among its competitors, according to an ongoing study by Environics Research Group.

Business of Insurance

The CUIS Program: Celebrating 20 Years of Co-operation.
BURLINGTON, ON, Jan. 26, 2006 - The CUMIS Group and The Co-operators are celebrating the 20th anniversary of an historic and highly successful joint venture that has strengthened the Canadian co-operative financial system.

Consumer Information

Wellpoint Health Services to offer WorldCare's second opinion e-consultation services for serious illness.
WorldCare Inc., which develops and distributes global health care services and solutions, including specialist and sub-specialist second opinion e-consultation, serious illness treatment plans, and clinical trial services, has signed a contract with Wellpoint Health Services, a Toronto-based Corporate & Family Health Services Company, to provide expert second opinion e-consultation services for serious illness.

Policy and Product Management

AIR Worldwide Releases Winter Storm Model for the U.S.
BOSTON, Jan. 4, 2006 - AIR Worldwide Corporation (AIR) today announced the release of its Winter Storm Model for the U.S. The model captures the effects of wind, precipitation and freezing temperatures on insured properties. It is designed to provide insurers with a scientifically based assessment of winter storm risk for more effective risk management.

from Doug:

A strangely warm month draws to an end. The Brits tell us global warming is occuring more quickly than anyone was expecting. Nature does have this knack of popping surprises. Are you doing your bit to dampen the unwanted changes?


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