Issue 2008-20 -- May 20, 2008

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.




Policy and Product Management

CGI Announces The Product Launch of CGI Edge™.
Las Vegas, NV, May 13, 2008 - CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leader in information technology and business process services, today announced the product launch of CGI Edge™ the next generation of CGI's property and casualty insurance software. Leveraging leading technologies, CGI Edge uses a web-based, service-oriented architecture, based on the .Net framework, and incorporates Web 2.0 technology.

Claims

Guidewire Software Announces Launch of Guidewire ClaimCenter 5.0.
LAS VEGAS, Nevada, May 13, 2008 - At the 2008 ACORD/LOMA Conference, Guidewire Software®, Inc., a leading global provider of solutions to property and casualty insurers, today announced the release of Guidewire ClaimCenter® 5.0 – the latest version of the market-leading claims system for property and casualty (P&C) insurers.

Innovation Group Acquires Choice Certified Solutions and Announces the Launch of the "Innovation Property" Managed Network.
May 06, 2008 NEWTON, Mass -- Innovation Group today announced final shareholder approval of the acquisition of Choice Certified Solutions and the official launch of the "Innovation Property" Managed Network, a network of providers committed to providing a suite of fully integrated Property Damage solutions

eBusiness and Technology

Policy Works Inc. Receives CSIO Achievement Award.
Toronto, Ontario, 24 April 2008 - The CSIO board of directors has chosen to honour Policy Works Inc. for their achievements in commercial lines XML implementation by presenting them with the CSIO Achievement Award.

iter8 Announces Gore Mutual Provides Brokers With Billing and Policy Change Capabilities.
Toronto , May 2008 iter8, a software and solutions provider to the P&C insurance market is pleased to announce that Gore Mutual Insurance Company now offers new functionality within its GoBroker portal. After months of internal testing and a trial project, Gore Mutual has gone live with two new web applications - billing and policy change.

Marketing and the Market Place

"Expatriate Benefits for a Changing Global Economy" by Glenn Maykish, Sales Director; Tony Procaccini, Sales Manager; and Allen Koski, Sales Manager: CIGNA International.
The expatriate benefits segment is rapidly changing in response to global economic trends. During the past few years, there has been a marked shift in expatriate assignment destinations, skill sets of employees deployed and lengths of assignment. International employers rely on their benefit carriers to provide products and services that will help them keep pace with the sweeping changes and intensified competition.

Gartner Survey Shows Consumers Predominantly Using the Internet for E-Mail and Search.
STAMFORD, Conn., April 30, 2008 - Despite the huge growth in new applications such as Internet video and social networking, most consumers indicate the main reason for accessing the Internet is to use e-mail and gather information, according to a survey by Gartner Inc.

Managing Relationships and Customer Service

Manulife launches innovative service for sponsors to communicate with members who need to choose retirement savings investments.
KITCHENER, ON, May 14, 2008 - Manulife Financial has introduced a new Plan Default Letter Service (PDLS), the first of its kind in Canada, to make it easy for sponsors of group retirement savings plans to alert their members to make an active choice with their investments.

Distribution

Insurance Brokers Launch Customer-Friendly Online Quoting Engine.
TORONTO, May 14 - Today, The Insurance Brokers Association of Ontario (IBAO) launched a new website, MyInsuranceShopper.ca that will provide consumers with the opportunity to receive online quotes for home and auto insurance.

Saskatchewan Mutual Insurance Company continues as a Full Partner of the Broker Identity Program.
April 24, 2008/Toronto - The Insurance Brokers Association of Canada (IBAC) is pleased to announce that Saskatchewan Mutual Insurance Company (SMI) is continuing its investment as a Full Partner of the Broker Identity Program for 2008.

PIMA and Eastbridge Consulting Group Team up to Study Association Markets and Voluntary.
AVON, CONNECTICUT, USA (April 28, 2008) - Most everyone knows that the voluntary market is quite competitive. To expand distribution capabilities and/or markets, many carriers today are thinking of and developing new channels through "specialty markets."

Insurance in the Community

Standard Life celebrates its 175th anniversary in Canada with a New $1.75 million community fund.
MONTREAL, May 8, 2008 - This year marks Standard Life's 175th anniversary in Canada, and to commemorate this event, Standard Life is creating a $1.75 million endowment fund to enhance its current community investment program.

Consumer Information

ICBC targets speeders in month-long campaign: 8,200 speed-related crashes reported in 2006.
ICBC and police have launched an $800,000 speed and high-risk driving awareness campaign to focus B.C. drivers' attention on their role in making roads safer.

Canadian workers punch in even when sick and exhausted: Desjardins Survey.
Toronto, May 1, 2008 - According to the first results of the Desjardins Financial Security National Health Survey released today in advance of National Mental Health Week (May 5 to 11, 2008), 42 per cent of Canadian workers went to work sick or exhausted at least once in 2007.

Saskatchewan provides 20% rebate on SGI premiums to "green" vehicle owners.
The Saskatchewan government is rewarding vehicle owners who "go green on the road" with a 20% rebate from SGI on their 2007 insurance and registration fees for hybrid and fuel-efficient vehicles.

FSCO Makes Available "Understanding Title Insurance" Brochure.
Title insurance is an insurance policy that protects residential or commercial property owners and their lenders against losses related to the property's title or ownership. The word "title" is a legal term that means you have legal ownership of property. You obtain title to property when the owner signs the deed (transfer document) over to you. Title is then registered in the government's land registration system.

Reference and Statistics

New 2008 RIMS Benchmark Survey (TM) Book Finds Total Cost of Risk Falls Again.
NEW YORK, N.Y., April 17, 2008--According to the forthcoming 2008 RIMS Benchmark SurveyT book published by the Risk and Insurance Management Society (RIMS), the commercial insurance industry continued to experience an overall decline in total cost of risk (TCOR) in 2007.

Business of Insurance

TowerGroup: U.S. Insurance Industry Would Benefit From Treasury's 'Blueprint' For Reform.
LAS VEGAS, NV, (ACORD LOMA Insurance Systems Forum) May 13, 2008 - Unlike other nations, insurers in United States are governed by regulators in each of the 50 states, the District of Columbia, and the five US territories. Although these 56 sets of regulations are similar across individual states (albeit with some key differences), new TowerGroup research finds that to remain competitive both domestically and abroad, the U.S. insurance industry ultimately needs to move toward a single set of regulations.

from Doug:

Success. The driving practice paid off with a successful test. Unless he does something bad or seeks another specialty license, our son hopes that will be his last driver's test until a senior. That provided a good lead-in to the long weekend, which for us was rather a non-event - the damp and cool weather did not help.
In Ontario, in excess of 100 people were charged and vehicles impounded for eight days for exceeding the speed limit by more than 50km - one 17 year-old clocked at almost 140 km over, at 239 km/hr in an 80 zone. A big price - inconvenience, expenses, charges, points, fines and insurance rates - to save a few minutes of travel time.


Subscribe here or view past issues.