http://toronto.mofcom.gov.cn/article/ztdy/200406/20040600231081.shtml
2. insurance industry(非常健康，前景光明)
The impact of the insurance industry goes well beyond direct employment and economic activity. Many jobs in the legal, construction, auto repair, and other sectors are indirectly linked to the sector. Indeed the sector is a necessary enabler of business and community activity of all kinds.
The average weekly earnings for the insurance industry in 2010 was $1,167 (including overtime) - an annualized salary of nearly $61,000 - the highest of the 10 provinces across Canada. The insurance industry is in the top quartile for wages among major industry groups in Ontario - 17 percent higher than manufacturing, 22 percent higher than banking and 18 percent higher than the education sector.
A 2010 survey conducted by the Insurance Brokers Association of Ontario (IBAO) found that insurance brokers generate an annual payroll in excess of $924 million and also pay an estimated $40.8 million in business taxes per annum and another $12.6 million in annual business property taxes. There is a direct economic impact in local communities as well. The average IBAO broker purchases 82 percent of personal goods and services within their local community and the remaining 18 percent within the province of Ontario
http://www.insureconomy.ca/ontario/summary.pdf
3. Insurance market:
- life, health, property and casualty insurance (auto, home and business)
3. Insurance market:
- life, health, property and casualty insurance (auto, home and business)
- the industry supports employment and economic activity from Kenora to Cornwall
- IT service to insurance company -> outsource or have already in place, nothing Need I do.
Insurance market share Ontario 2013
http://www.ibc.ca/en/Media_Centre/Articles_of_Interest/2013/docs/PCregionalimpactsjan2013.pdf\
Insurance market share Canada 2001
4. Insurance entry level Job title
http://www.career-connections.info/
Insurer: 承保人，保险公司, insurance underwriter 保险承销商；保险承保人
被保险人： assured ； the insured ； insurant
6. Insurance Training
https://www.conestogac.on.ca/fulltime/0722C.jsp
7. Governance to Insurance industry
http://www.gisa.ca/en/gov/documents/Annual_Directors_Report13.pdf
8. Insurance GDP share in Ontario
The contribution of Ontario’s property and casualty (P&C) insurance companies to the provincial gross domestic product (GDP) amounted to $7.5 billion in 2009, more than the motor vehicle parts manufacturing sector and more than the entire agriculture, forestry, fishing and hunting sectors combined.
9. List of Canadian insurance companies
http://en.wikipedia.org/wiki/List_of_Canadian_insurance_companies
10. 6,562 Insurance Companies in Ontario, Canada
- IT service to insurance company -> outsource or have already in place, nothing Need I do.
http://www.ibc.ca/en/Media_Centre/Articles_of_Interest/2013/docs/PCregionalimpactsjan2013.pdf\
Insurance market share Canada 2001
http://www.tcim.ca/documents/canada%20property_e.pdf
4. Insurance entry level Job title
http://www.career-connections.info/
Insurer: 承保人，保险公司, insurance underwriter 保险承销商；保险承保人
被保险人： assured ； the insured ； insurant
- Broker/Agent
- Underwriter
- Loss Adjuster
- Risk Manager
- Claims Investigator
- Loss Control Specialist
- Actuary
- Marketing Representative
- Appraiser
5. Insurer Fails Data
http://www.pacicc.com/publications/pages/publications/WIF%20Inadequately%20Pricing%20Insurance.pdf
- An insufficient loss history for a particular risk can lead to mispricing and possibly insolvency. A very simple illustrative example of how the use of an inappropriate or insufficiently representative dataset could result
in mispricing
- In Canada, the General Insurance Statistical Agency (GISA) provides statistical data on auto insurance and Ontario general liability. Further, the Insurance Information Division of the Insurance Bureau of Canada (the contracted data agency for GISA) provides statistical data on personal property for subscribers and regularly holds data quality sessions for insurers. Similarly, the Casualty Actuarial Society regularly holds seminars on pricing.
6. Insurance Training
https://www.conestogac.on.ca/fulltime/0722C.jsp
7. Governance to Insurance industry
http://www.gisa.ca/en/gov/documents/Annual_Directors_Report13.pdf
8. Insurance GDP share in Ontario
The contribution of Ontario’s property and casualty (P&C) insurance companies to the provincial gross domestic product (GDP) amounted to $7.5 billion in 2009, more than the motor vehicle parts manufacturing sector and more than the entire agriculture, forestry, fishing and hunting sectors combined.
9. List of Canadian insurance companies
http://en.wikipedia.org/wiki/List_of_Canadian_insurance_companies
10. 6,562 Insurance Companies in Ontario, Canada
http://www.manta.com/world/North+America/Canada/Ontario/insurance--A2/#Location
http://www.manta.com/world/North+America/Canada/Ontario/North+York/life_insurance--A2137/
- Allstate Insurance Company of Ontario
- Aviva Insurance Company of Canada
- AXA General Insurance
- Belair Insurance Company (Belair Direct)
- CAA Insurance Company
- Certas Home and Auto Insurance Company
- Chubb Insurance Company of Canada
- Coachman Insurance Company
- Cooperators General Insurance Company
- CUMIS General Insurance Company
- The Dominion of Canada General Insurance Company
- Echelon General Insurance Company
- Economical Mutual Insurance Company
- Elite Insurance Company (Aviva Elite)
- Federation Insurance Company of Canada (Economical)
- Gore Mutual Insurance Company
- The Guarantee Company of North America
- Intact Insurance Company
- Jevco Insurance Company
- Liberty Mutual Insurance Company
- Lombard Insurance Company
- The Nordic Insurance Company of Canada
- North Waterloo Farmers Mutual Insurance Company
- Novex Insurance Company (Intact)
- Pafco Insurance Company
- Pembridge Insurance Company
- The Personal Insurance Company
- Perth Insurance Company (Economical)
- Pilot Insurance Company (Aviva)
- Primmum Insurance Company
- RBC General Insurance Company
- Royal & Sun Alliance Insurance Company of Canada
- Scottish & York Insurance Co Limited
- State Farm Fire and Casualty Company
- TD General Insurance Company
- Traders General Insurance Company
- The Wawanesa Mutual Insurance Company
- Western Assurance
- York Fire & Casualty Insurance Company
- Zenith Insurance Company
- Zurich Insurance Company
12. IT in the insurance industry
There are more than 200 P&C insurers actively competing for business in Canada. Most are fairly
small and cannot absorb the costs for developing and updating expensive IT systems. As such,
outsourcing could play a major role for P&C insurers. This raises new issues such as privacy and
confidentiality, and creates new risks ranging from loss of reputation to business interruption. The
federal regulator recently published a guideline requiring each financial institution under its
supervision to establish a risk management program to evaluate the risk/materiality of all existing and
proposed outsourcing arrangements and to monitor and control risks arising from material
arrangements5
- High cost of technology and the need for outsourcing
There are more than 200 P&C insurers actively competing for business in Canada. Most are fairly
small and cannot absorb the costs for developing and updating expensive IT systems. As such,
outsourcing could play a major role for P&C insurers. This raises new issues such as privacy and
confidentiality, and creates new risks ranging from loss of reputation to business interruption. The
federal regulator recently published a guideline requiring each financial institution under its
supervision to establish a risk management program to evaluate the risk/materiality of all existing and
proposed outsourcing arrangements and to monitor and control risks arising from material
arrangements5
- FURTHER RESEARCH NEEDED
How can small financial institutions like P&C insurers best manage the high costs to develop and
maintain state-of-the-art IT systems?
Technological advances and the increasing use of Internet point to the increasing importance of
brand value for differentiation. P&C insurers have traditionally had weak brand values. Should
they seek to address this and if so, how?
Source from:
http://skip.ssb.yorku.ca/SSB-Extra/FinancialPolicyResearch.nsf/Lookup/PropertyCasualtyInsurance_en/$file/PropertyCasualtyInsurance_en.pdf
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