Issue 2008-47 -- December 9, 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.




eBusiness and Technology

IPD Advances Workplace Efficiency in Insurance.
IBM Information On Demand - LAS VEGAS - October 27, 2008 - Continuing its commitment to advancing workplace efficiency in the Insurance industry, Image Process Design, Inc. (IPD) is pleased to announce their fourth generation application, Ultera/P8. Since 1991, IPD has been the trusted partner of large North American Health and Life Insurance companies for their unique industry expertise and specialized application software. Ultera/P8, built on IBM's FileNetP8 platform, has proven functionality that optimizes most major Insurance business processes in more than 20 different lines of business, including; claims, enrollment, case management, underwriting, customer service and more.

Over 100 Insurer Executives Have Rated Their Experience With Tech Vendors in Novarica ACE Rankings.
November 10, 2008 (New York): Novarica, a research and advisory firm, announced that its Novarica ACE Ranking™ reports, which document the Average Customer Experience of insurers with various technology solutions, have collected insights from over 100 insurers on more than 25 different products. With rankings already published on solutions from CSC, Guidewire, Hyland, iPartners, Vertafore and others, and more a dozen more in progress, Novarica is well on its way to rate over 100 solutions by mid 2009.

Claims

QUINN-Insurance goes live with FINEOS Claims®.
Dublin, Ireland, December 03, 2008 - FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and government, announced today that QUINN-Insurance, the second largest property & casualty insurer in Ireland, has gone live with its FINEOS Claims solution. FINEOS is now providing comprehensive enterprise claims management for QUINN's private motor lines and will be used by 600 employees at QUINN's insurance operations in Ireland. The second phase of the project will see the expansion of FINEOS Claims to cover commercial lines and home insurance.

USA's Fire Departments Face Challenges in Staffing, Recruiting and Training Firefighters, and Accessing Water, Survey Finds: ISO Survey.
JERSEY CITY, N.J., December 1, 2008 - Most U.S. fire departments call on neighboring communities to help them fight fires. And the most significant reason for that is the need for more firefighters. Nearly one in six departments either has no water service for firefighting or must rely on sources other than hydrants, possibly leading to critical delays.

Consumer Information

Make Sure Travel Insurance Plan Covers Skiing During Your Winter Vacation Abroad: TFG Global Insurance.
Nov 13, 2008 - If you are traveling abroad this winter to a ski destination, make sure that you obtain a travel insurance policy that covers your skiing activities. Travel Insurance USA offers a wide range of travel insurance policies from IMG and IHI which offer skiers and snowboarder's coverage while skiing this winter outside their country of citizenship.

Electric vehicles sparking interest says PricewaterhouseCoopers.
London, 19 NOV 2008 - Due to the progress of enabling technologies and a host of positive drivers, pure electric vehicles (PEVs) are garnering plenty of attention from manufacturers and suppliers. The auto sector is now attracting strong venture capital interest in nascent companies providing this technology. To make it into the mainstream globally, however, further technological and infrastructural barriers need to be overcome first.

Business of Insurance

Unity Life intends to acquire the Canadian insurance business of Washington National.
Mississauga, ON, December 1, 2008 - Unity Life of Canada, a Foresters company, and Washington National Insurance Company today announced that they have entered into an agreement under which Unity Life will acquire the individual insurance business of Washington National's Canadian branch.

OSFI Overview of the Life Insurance Sector Consultation Findings.
In the spring of 2008, OSFI commissioned The Strategic Counsel, an independent research firm, to conduct a confidential consultation with life insurance companies, to explore perceptions of the current life insurance marketplace and of OSFI in general.

The economic turmoil: Managing risks and opportunities - Insurance Review, A Canadian Publication: PwC.
Insurance companies are facing unprecedented challenges in this period of economic turmoil. Stock markets around the world are wreaking havoc on investment portfolios. The weakness in the banking system is eroding public confidence and has lead to a tightening of the credit system. A declining Canadian dollar, lower real estate prices and lower employment rates all point to challenging times ahead.

Swiss Re's new sigma study explores the growth of insurance in emerging markets and the prospects for Islamic insurance.
03 Dec 2008 - The first half of the study covers the latest developments in the insurance industry in the emerging markets. The second half is devoted to a discussion of takaful, a form of financial protection based on mutual assistance and joint risk bearing that is widely accepted by Islamic scholars.

Distribution

Leadership changes as a result of Advocis annual general meeting.
December 3, 2008 Toronto - The members of Advocis, The Financial Advisors Association of Canada, have elected a new slate of directors for their board at their annual general meeting held in Toronto on Monday December 1. Taking the helm as chair of the Advocis board of directors for 2008-2009 is Kristan K. Birchard, CFP, CLU, CH.F.C., TEP.

Marketing and the Market Place

The Co-operators introduces green insurance options, socially responsible investment funds.
GUELPH, ON, Dec. 1 2008 - Canadians want their values and priorities to be reflected in financial services and products, and The Co-operators is introducing three new offerings that do just that. Today, the organization unveiled new initiatives in its home insurance, auto insurance and investment portfolios that promote environmentally, socially and economically responsible behaviour.

Our People

RIMS Announces New Online Business Training Library.
NEW YORK (November 17, 2008) - The Risk and Insurance Management Society (RIMS) has made available a new library of online courses to help enhance risk practitioner business management and leadership skills. The 50-course collection was developed by Winchester Center for Management Development, a subsidiary of MindEdge, Inc., a premier information and learning company.

Managing Relationships and Customer Service

J.D. Power and Associates Reports: Local Agencies Provide a Higher Level of Service Satisfaction to Insurance Customers Than Do Call Centers.
WESTLAKE VILLAGE, Calif.: 21 November 2008 - Insurance customers who interact with a local agency tend to be more satisfied than customers who interact with their insurer's call center, according to the J.D. Power and Associates 2008 Insurance Customer Contact StudySM released today.

Manulife earns second consecutive 'Excellent' rating from DALBAR for group savings plan member statements.
KITCHENER, ON, Dec. 1 2008 - Manulife Financial Group Savings and Retirement Solutions (GSRS) has once again received an "Excellent" rating for its year-end plan member statement, according to a recently-released study by DALBAR, a leading communications consulting firm.

from Doug:

With our heritage group, we visited a creche display assembled by the Archives Group of a Toronto church. The display is exhibited each year over Christmas since the initial one in 2000. The creches come from countries around the world, Peru, South Africa, France, India, Vietnam. Turns out that some sixty countries (Canada is not currently one of these) have national creche organizations, and there is a worldwide conference each year. Some displays were small with the basic manger scene - in a thatched hut in one case - while others were of towns. One from southern France represented much of a village portraying individuals from many centuries. The diverse presentations from different cultures were quite fascinating.


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