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What’s New: In Brief (September 01, 2009)


September 1, 2009   by Canadian Underwriter


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SCM Risk Management Services and Compu-Quote have partnered to develop a data validation service, providing an accreditation process for information submitted by consumers to insurance brokers during the quoting process.
Compu-Quote will receive information from SCM Risk Management Services to validate data and provide a street view photograph or satellite view of the dwelling being quoted, a release says.
The photo and data accreditation process provide visual and quantified intelligence to the insurance broker, allowing him or her to verify the data consumers supply about their home.
“Unfortunately, most consumers are not accurate suppliers of data pertaining to the living area, year and construction features of their home,” said Greg McCutcheon, president of SCM Risk Management Services. “As a result, critical data necessary to provide an accurate insurance-to-value (ITV) estimation is erroneous prior to being sent to a replacement cost calculation tool.”

The Co-Operators is the first insurance company to receive approval to join the Ceres corporate network — a network of investors, environmental groups and other public interest organizations working with companies to address environmental sustainability issues.
The Co-Operators has taken on numerous initiatives to improve environmental sustainability, a release says. These initiatives include:
•    releasing annual sustainability reports and adopting the Global Reporting Initiative’s Guidelines;
•    integrating sustainability into its governance structure, including a Sustainability Steering Committee; and
•    a formal climate change strategy that includes measures to reduce its carbon footprint, manage climate risks, pursue climate change business opportunities and influencing stakeholders to reduce emissions.
Companies that join Ceres must make continual strides in improving their sustainability performance and reporting practices by engaging with investors, environmental groups and other stakeholders.


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