The THINK Blog

    The Ten Funniest Office-Approved Valentine's Grams!

    Posted by Nick Joly

    Feb 12, 2015 2:21:06 PM


    It's that time of year again!

    The big Saint V! The day where we show the ones we love, some LOVE! It's crazy to think how much our team has grown from just one year ago today. And amidst all the exciting updates and milestones that have filled up our schedules lately, we could never forget about showing all of YOU some love and sharing some laughs! 

    You may already know about our fun & quirky sense of humour around the office, and while it can be tough in most work environments to draw the line on what is "office approved" and what isn't, at LOGiQ3 we've been sending one another sweet Valentine-Grams! ...

    So if you're having a tough time drawing the line on what's appropriate and what isn't, say for example recording your colleague breathing to later set as your ringtone... you may want to follow our lead here and share a more... work friendly message with said colleague. For some inspiration and a good laugh, see what some of us around the office are sharing! 


      You finish my...   Sentences!
    Tiny_Heart_1  Stalker is a harsh word...        I prefer Valentine ;) 
    Tiny_Heart_2  I love you...        Even if I think about suffocating you in your sleep
    Tiny_Heart_3  I love you like Kanye loves...        Kanye
    Tiny_Heart_4  Happy Valentine's Day...        I met someone else
    Tiny_Heart_5  Be mine...        Until I get bored
    Tiny_Heart_6  We go together like...        Teen girls and vampires
    Tiny_Heart_7  I love you more than...        My first cup of coffee
    Tiny_Heart_8  The only thing I like more than you is...        Netflix
    Tiny_Heart_9  Couples that fart together...    Stay together
    Tiny_Heart_10  I lost my number...    Can I have yours?
    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Connect with Nick

    In addition to the lovely Saint Valentine's traditions, February also brings with it, the upcoming conference season! And given that our team has expanded quite nicely in the last year, you're bound to see some new faces in the coming months, so make sure to stop by and say hey for a quick meet and greet! We'd love to connect!

    I hope you enjoyed sharing in our fun & quirkiness and staying abreast of our many, many exciting updates. Happy Valentine's Day! 

    Image credit: Flickr User Brian

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    Topics: LOGiQ3 Culture, Marketing

    Considering a Career in Life Insurance? What about Reinsurance Administration?!

    Posted by Nick Joly

    Feb 3, 2015 9:40:29 AM

    Hi there! I'm so happy to be sharing with you today, the long awaited "Part Two" in my series of what goes on behind the scenes at LOGiQ3!

    Today: Reinsurance Administration! 

    It won't be a surprise to many of you that most professionals that have a career in life reinsurance, never imagined the possibility of a career in the industry. Life insurance, maybe, but reinsurance? What is that? Many of our reinsurance experts hold backgrounds in Finance, Accounting, Social Sciences, Actuarial Sciences... you name it! But what really kicked off their careers in Reinsurance was understanding what the industry was all about first! Here's a fantastic article that we've previously published that covers some good ground on what Reinsurance really means. 

    So great, you've finished/finishing school, you're about to enter the workforce, you know a little about reinsurance... now what? 

    What kind of opportunities are available in Reinsurance?

    At LOGiQ3, we are always seeking bright professionals to join our team of experts! A graduate interested in a career in reinsurance is often best suited to begin as a Reinsurance Analyst.  

    "What does a reinsurance analyst do?" Well, let me give a few highlights of this role:

    • Analyze and review reinsurance data, i.e., insured information, premiums paid, face amount (size) and issue date of policies... essentially they look at all of the info associated with a life insurance policy.
    • Conduct reinsurance data trend analysis, that is, understanding fluctuations in insurance premiums or policy size either sent from insurance companies to reinsurance companies or from reinsurance companies to retrocession companies.
    • Streamlining reinsurance admin processes to serve our clients better.
    • Address client needs, such as ensuring that reported information is correct and that the reinsurance administration system reflects the correct data.

    If you've read some of our previous blog post or follow us on social media, you'd know that we are BIG FANS of INFOGRAPHICS!

    Here's a great one for you today of "A Day in the Life of our Reinsurance Analysts - A General Workflow"

    Tweet & share this INFOGRAPHIC with your friends!


    Tweet & share this INFOGRAPHIC with your friends!

    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Connect with Nick

    While this infographic serves as a great overview of a day in the life of our reinsurance analysts, the tasks can vary from role to role and DEFINITELY require a skill set that encourages delving below the surface into complex situations & data sets to uncover new solutions. A big part of what makes our team here LOGiQ3 so unique is our culture! If you haven't checked out our MAXIMS - I invite to have a peak and see if they're in line with your personality and work ethic! 

    LOGiQ3 is CONTINUOUSLY searching for great talent. If you have a shining personality and a strong eagerness to learn, I invite you to also explore our careers page to submit an application and connect with us on Twitter and LinkedIn

    Pro tip: The BEST way to stay up to date on the LATEST updates and exciting events from LOGiQ3 is by subscribing to our blog! 


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    Topics: Reinsurance

    Hello 2015! A Recap of our Highlights from 2014

    Posted by Natalie Ho

    Jan 9, 2015 9:00:00 AM

    Goodbye 2014, Hello 2015! Hard to believe another year has come and gone with the numerous to-do lists that were made, crossed off, and tossed in the trash can. A fresh start to the year means time to reset, re energize, create new to-do lists, and get ready to tackle another fantastic year ahead of us. 

    Meanwhile, looking ahead and planning for the blank pages of 2015 can be terribly thrilling, but let's not forget all the hard work we put into 2014. I'm sharing with you today a recap of some key highlights at LOGiQ3 in 2014. Thank you to each one of you who have helped us achieve another successful year!

    What did you accomplish?! 

    1. Dramatic Growth in our Business 

    2014 was a record year for LOGiQ3. Our top line revenue increased by 42% from 2013 and I can't be more proud to be a part of this growing team of insurance and reinsurance experts. We not only experienced growth in our revenue, but also in our number of staff as well as added some new clients to our roster. An amazing thanks for all the hard work our staff has put into 2014 and we're looking forward to another exceptional year!  

    2. Brand Uplift


    In early 2014, we launched a series of new brand assets. I am a strong believer that, as the world is evolving (especially at today's speed), it's important to re-energize our look and feel every so often. We decided to stay true to our workmark but bring in a new colour scheme, and re-introduce our tagline. The coffee mug concept was an instant winner as it fittingly conveys our tagline, Freedom to Think.

    We also took the opportunity to create our brand story

    Welcome to the group of quirky life enthusiasts, on a mission to change an industry. We live and breath human interactions, new relationships, and being exactly who we were meant to be. More than anything, we feel lucky to be able to provide others with positive experiences. LOGiQ3 is more than a company of insurance industry experts - we're your local barista, cheery postman, and your favourite cab driver. Making your life easier and delightful is our aim. We believe that this can be done when you're given the freedom to be you, whatever that involves. When you need advice, we'll lend an ear and give you what you need to figure it all out. It's important to have that freedom to grow and thrive at work, at home, and at life. Let us be your cup of coffee - a source of fuel, focus, relaxation, and Freedom to Think. - Relax, have a cup of coffee, have the Freedom to Think! 

    3. A New Website 


    With an uplifted brand, of course comes an updated website. We not only took steps to update our creative elements on our website, but we also migrated to a new platform to help us better serve our client base. For example, our underwriting E-Learning students can now login to our LMS directly via our website. In the near future, we hope to bring you a more personalized and dynamic web experience. 

    4. Client Delight

    Delighting our clients is what we live for. In 2014 we also launched our Client & Partner Delight Program where we are striving to create deeper and more meaningful relationships with our clients and partners. If we've helped you succeed in your business goals, we want to share your success story with the world. Interested to see how we've delighted our clients? Read our recently published Standard Life Client Study

    5. LOGiQ3 2.0 

    We set some lofty goals internally in 2014 for an institutional transformation to sharpen operational focus, aka LOGiQ3 2.0. This may not mean much to the outside world, however, ultimately speaking, we made many internal changes to organizational structure, processes, technology, client management, and our value offerings to build a stronger and bigger LOGiQ3.

    6. Launch of our E-Store 


    We've made it possible to train in the privacy of your own home, in 2014, we've also made it possible to purchase our underwriting E-Learning courses in your sweatpants! Awesome, right?! We officially launched our E-store in October, making it possible to distribute our Underwriting Program globally. By transacting through our e-commerce site, we are further shortening the time for individuals to receive professional underwriting training. In the future, we plan on releasing additional value offerings via our E-Store. 

    7. APEXA Launch 

    Natalie Ho is VP Sales & Marketing at LOGiQ3
    Connect with Natalie

    The official company launch of APEXA was a huge milestone for us. Much of 2014 was focused on gaining commitment and support from the industry to move ahead. The APEXA initiative is an industry-led solution that has partnered with several bodies including Canada's largest life insurance carriers, brokerage managing general agencies, independent advisors and the nation's provincial regulators. We are thrilled to see the momentum APEXA has gained. We are now in the next phase, which is building APEXA, the technology and the services, and ultimately onboarding the Canadian life insurance industry. 

    2014 was a great year, but we're ready to gear up for another spectacular one! Here is to making new to-do lists, setting lofty goals, celebrating new wins, and learning from future mistakes.


    Schedule a FREE consultation with LOGiQ3

    Topics: LOGiQ3 Culture, LOGiQ3, Marketing

    Year in Review - Top 10 Highlights in Marketing & Technology

    Posted by Nick Joly

    Jan 5, 2015 1:52:00 PM

    As the Sales & Marketing Coordinator for LOGiQ3, you can imagine that I'd have my nose in the latest publications on anything marketing, digital & sales... and you'd be right! I would definitely be classified as an early adopter for many things, as I love to keep up with the latest in industry trends. To say that 2014 was a big year for marketing & technology would definitely, be an understatement.

    I've curated here a list of highlights for a "Year in Review" of 2014, some marketing and some tech, see which ones have made it to my Top Ten List! 

    1 - Ultra HD Curved Screens

    Top electronics producers like Samsung, LG and Sony unveiled their new curved screen, ultra HD televisions. What makes them so "ultra" you ask? Well, with features like Auto Depth Enhancement, which automatically adjusts contrast levels depending on the picture, offering a greater sense of depth and Resolution Levels of up to four times what they used to be, these 65 inchers are priced at about $4000.00USD each. What do you think, worth it?


    photo: http://samsung.com

    2 - GM Announces 4G LTE Internet Connections in New Car Models

    For tech-savvy drivers who spend hours in their car each day, before upgrading those wheels, you may want to consider a GM. The manufacturer announced that 2015 models will be fully equipped with built-in WiFi Hotspots! Devices are said to connect to the WiFi like they would with a traditional router. Great for passengers looking for a thumb workout and equally great for drivers who can sync their device's music and phone, wirelessly to the car's dashboard! 

    3 - HubSpot Announces CRM Tool

    That's right marketers! If you haven't already heard of this game-changing announcement that was made at HubSpot's annual INBOUND conference, 2014 marked not only the introduction of their wicked Customer Relationship Management tool... but also their first IPO! As a HubSpot user and advocate, I simply can't wait to see how this CRM tool will develop in 2015 and enhance the daily work life of many marketers and salespeople out there!

    4 - Crowdfunding, Yes Crowdfunding!

    You may be wondering, "How did crowdfunding make this list?" - Well, as it was newly introduced in 2013 as a viable way of raising funds to kickstart major community initiatives, 2014 was the year of it's exponential growth! App developers, community centres, project managers all turning to crowdfunding as a method of raising funds to follow through or execute their initiatives. I have a feeling this popular trend won't be slowing down in 2015 as the world becomes more and more connected via social applications and software developments. 

    5 - 3D Candy!

    Awesome? Or... AWESOME! In March of 2014, I flew down to Texas to attend their annual SXSW event where the latest in technology and app development is presented and always exciting to see. Deloitte had a presence at the event whereby, the audit, consulting and financial advisory firm unexpectedly presented 3D printed candy! Words cannot describe, so visit this link or check it out for yourself below! 


    6 - Apple iWatch [Video Release]

    Yes, as you may have expected, there is at least ONE highlight in this Top Ten list that has to do with Apple. As major innovators in the tech world, how could they not be, especially with the announcement of their Apple iWatch. The video left many speechless and anxious. For myself, as an avid self-assessor, I can't wait to get my hands on one to track my body's activity and have it sync automatically with my other daily devices. This announcement will definitely be a game changer in many spaces, including the life insurance industry. See why HERE.

    7 - Simon Sinek's "Leaders Eat Last"

    Marketing guru, Simon Sinek, who I've blogged about in the past, released the latest in his series of novels, called "Leaders Eat Last". This confident speaker and intelligent wordsmith writes about finding fulfillment at work and fostering a trusting work environment. When it comes to innovation in marketing and thought provoking content, Simon is the first source I tap into as a marketer. And with the rise of technology, we often forget that books, good old fashioned, hard-cover books can be a great source of inspirational and intriguing content!

    8 - Creative Content Creation

    Speaking of inspirational content, 2014 was a big year for marketers, especially content-creating marketers. An trend that became apparent to many of us this year, was that we, as humans, like to share content with friends that we find to be cool, interesting or useful. With that said, in 2014 we saw a huge rise of content-rich media being created and curated online for people in different professions, not just marketing. What will be interesting to see for the year ahead, is what exactly we plan to do with this plethora of content-rich information!

    9 - H2H

    This concept of Human2Human became very popular in 2014. We've spoken countless times about B2B, B2C, C2C and C2B but the common denominator in all of these that isn't documented is the human interaction that takes place behind the scenes. With the rise of inbound marketing, less traditional ways of advertising and interacting with customers, a growing trend has been the rising demand of a human interaction to be present. Customers are wanting less and less to be advertised to and more and more to be spoken with. A two-way conversation of wants and needs has become the foundation of this "new-age" marketing. 

    10 - Google's "New" Logo

    Semi-serious, semi-joking, this highlight is FULLY necessary! For those unfamiliar with Google's recent update to their logo, I invite you to read this article, bearing in mind that they key, really is in the detail! ;)


    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Meet Nick


    A common thread throughout most of these highlights is: improvement. 2014 seemed to be a lot about "bigger", "better", "improved" or "enhanced". We spent a lot of time perfecting methods, processes and content that we came up with in 2013, and with updates being released almost monthly, it will be very interesting to see what 2015 will look like.

    What are your thoughts? Do you think we'll have another year of improvement or will the new year bring with some sort of revolutionary innovation for marketing and tech? Feel free to post your comments below!


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    As thought leaders in the Canadian life insurance industry, we're committed to
    bringing you new, insightful and thought-provoking content, always!



    Topics: Technology, Marketing

    Internal vs External Underwriting Auditing: PART ll

    Posted by Jennifer Miller

    Dec 16, 2014 12:38:28 PM

    Hi again, 

    Not long ago I covered part one in my series of Internal vs External Underwriting Audit and I discussed whether or not They Both Have their Place in Today's Successful Life Insurance Market. As a refresher, we weighed the pros and cons and determined that, YES, a regular balance of internal underwriting audits and external third party audits was the key to success. Today, however, I'd like to highlight some cautionary factors that are important to be aware of when deciding to take the "external" route


    External reinsurance audits are a necessary and required exercise, especially when it comes to strengthening the business relationship and understanding the direct insurer’s underwriting processes and procedures. However, they are not entirely independent. The reinsurer has a client relationship to maintain with a direct company, and in light of this relationship, there may be a tendency on the reinsurer’s part to soften the message on the audit results. In addition, reinsurance audits can also tend to be both line of business and product focused, which may deter from providing a holistic or accurate picture of risk assessment.

    However, there are quite a number of benefits to having external third party underwriting auditing completed.

    A good third party external audit can provide you with:

    • A fresh perspective or bird’s eye view on how your underwriting shop assesses risks (how they do it, why they do what they do) and how they apply and interpret policies, procedures, guidelines, processes, practices and the overall underwriting approach) which can bring to light issues that would not otherwise be apparent to an internal resource.
    • Appropriate auditing resources so there is no tapping into internal resources which may result in the  loss of an experienced production underwriter for audit related work.
    • Objective results.
    • Access to industry underwriting standards and best practices. Audit analysis summary and reporting suited to the C-suite.
    • Multifactorial analysis and scoring method based on the results which provide quantitative and qualitative results.
    • Solid recommendations around areas for improvement.
    • Independent review.
    • Experienced underwriting auditor(s) that are well-seasoned and educated by all accounts, having underwritten in both large and small shops, clinical background, many years of underwriting experience (with multiple companies, countries, lines of business, and markets).
    • A team of auditors available to perform a robust audit with a large number of cases (where a lead auditor manages the overall audit) and within a specified time frame.
    • Technical abilities to process large audits in concentrated, short periods of time with firm deadlines and deliverables.
    • A selection of various types of audits geared to your objective that allows you to analyze and understand your business.
    • Ability to work in a secure environment remotely which can save you costs.

    Now, the big question! What to look for in an external audit vendor?


    Jennifer Miller is Senior Underwriting Specialist at LOGiQ3
    Meet Jennifer


      Here is a list of my criteria to choose an appropriate auditor for your auditing needs:
    • An audit team of highly experienced auditors with multiple line, company and international experience.
    • Technical aptitude - cutting edge technical capabilities.
    • Proven ability to perform an objective, holistic review with a track record (i.e., references, testimonials).
    • Personable, well represented with abilities to present to executive audience.
    • Ability to provide a secure data environment.
    • Unparalleled, quality reporting (ask for a sample report).
    • Detailed scoring & trending - quantifiable results.
    • Ability to make observations and recommendations for areas of improvement.
    • Ability to provide an overview of overall underwriting process.
    • Experience with interviews of underwriters, key leadership, compliance & privacy, support staff.
    • Flexibility to tailor  the audit to the needs of company & leadership team – asking the right questions to identify objective of the audit.
    • Offers specific focus.
    • Good communication skills.
    • Availability for on and off-site work.
    • Focus on cost-effective, value-added results.
    • Offers a secure environment for data.

    So what does all of this boil down to? Well, it's important to internally audit where possible, but equally (if not more) important to obtain objective third party views of where your underwriting shop lands in relation to the industry at large. 

    Where does your company stand in comparison to this? From what I've seen and what we believe here at LOGiQ3, a healthy combination of internal underwriting audits in addition to strategic external third party audits will spell SUCCESS in today’s competitive underwriting shop. 

    To find out more about underwriting audit or to help align your business processes and implement a suitable Underwriting Audit Program, feel free to set up a free consultation with us! 

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    Topics: Underwriting, Audit

    Does Early Rehab Improve the Outcome of Disability Claims Handling?

    Posted by Fernanda Rodriguez

    Dec 10, 2014 10:00:00 AM


    Assessing disability claims can be a culinary art sometimes...

    ... You have to mix the right combination of several ingredients to bake a delicious cake, or in the case of a disability claim… a delicious decision!

    Contrary to the stereotype of claims being automatically denied, in claims administration, the job of the Claims Adjudicator (adjuster/case manager/assessor) is not just about making decisions based on days of the week or moods or the luck of the draw.

    It is to review all evidence and use a combination of skills (medical, legal, financial, occupational, etc.) to arrive to a fair decision in the quickest time possible.

    At the same time the adjudicator must maintain the trust of the claimant and manage expectations from advisors, employers, managers, etc. Not an easy task…and to complicate matters, let’s not forget that the Claims Adjudicator is dealing with humans, and human beings are all unique and react to adversity in different ways. For example, a claims department may use reasonable recovery times as guidelines for return to work, but the truth is…individuals have different pain tolerances, mind sets, motivations, and emotional IQ’s. Therefore, an insurer's claims experience and ultimate recovery guidelines are not the same for all. 

    In my many years of claims adjudication, I have learned that the claims on my desk could not be treated simply as files; but rather as someone’s personal, individualized story. Therefore, I found that close interaction with the claimant was ALWAYS the best practice. 

    • It allowed me to gain a better understanding of their personal story.
    • It assisted me with connecting the dots, or completing the puzzle.

    In my experience, I have found that most claimants do wish to go back to work as soon as possible, but have to deal with many barriers. Therefore, time is of the essence during this small window of opportunity.

    Take a look at this chart:   


    Published in 2005 by the American College of Occupational & Environmental Medicine

    As you can see, only 2% of claimants off work for a period longer than one year go back to work. These results show that there are opportunities in refining best practices to resolve claims more quickly. 


    Fernanda Rodriguez is Senior Claims Consultant at LOGiQ3
    Meet Fernanda 

    Imagine how much we could help our claimants and how much we could reduce claim handling costs and reserves if we started focusing more on working closely with our claimants and introducing rehabilitation early on in the claim process is key. The claimant would likely restore his/her self-worth, preserve job skills, reduce the risk of isolation and depression…and the disability duration could be shortened, translating into a lower claim payout.  Everyone wins!  

    Times have changed and as the world and technology evolve, we should also evolve in the way we handle claims. It is time to use an old ingredient in this culinary art, to gain even better outcomes: Better informed claim decision, with higher claimant satisfaction and significant savings for the insurer! 

    Care to share your thoughts and best practices in regards to claims handling and rehabilitation? Please share them by commenting below!  If you would like to find out more on our claims administration and consulting services, you can schedule a free consultation with us right here!


    Topics: Claims

    Four Emerging Trends in Life Underwriting

    Posted by Nick Joly

    Dec 7, 2014 7:30:00 PM


    As a life insurance and reinsurance outsourcing and consulting services provider... 

    It is crucial for us to stay up to date with today's market and technological trends. Our bright team of underwriters not only grow to become experts in their field of life underwriting, audit and claims, they also keep an eye out for changes and innovation in the industry - as this is the key to not only learning, but staying ahead of the curve in an ever evolving industry! That being said, a couple of sharp underwriters from our team have joined forces to bring you some...

    Emerging Trends in Life Underwriting

    ...that every underwriter should be aware of to grow in their careers and in today's business!  On the menu of trends today...

    1. Wearable Technology
    2. Emerging Risks
    3. Identifying Needs of Millennials
    4. Turning Change into Opportunity

    For more insight into each, see below! 

    1. Wearable Technology Brings a Potential for Change

    CAMS – Cloud, Analytics, Mobile and Social. “These four components are the driving forces behind technology development today” says Peter Pleckaitis, leader at IBM. 

    Wearable devices such as Google Glasses, the Apple iWatch, and others, particularly designed to monitor vital signs related to health have the potential to change the health and life insurance market in many ways. 

    For one, these devices are being purchased in large and growing numbers. The Accenture 2013 Consumer-Driven Innovation Survey suggests that 46% of insurance customers are already interested in lower life premiums based on exercise levels and other indicators recorded by such devices. Many of the applications for these technologies are capable of monitoring a breadth of information including breathing, heart rate, sleep, hydration levels, calorie intake, movement, and much, much more. Underwriters will need to prepare for reviewing much more information than they have had to historically if life insurance companies begin using the data from these devices (a likely occurrence). 

    While customers have hopes of obtaining lower premiums, just think of the protective value to the insurance companies! A win-win? 

    2. New & Emerging Risks

    Lindsay Loft is Underwriter at LOGiQ3
    Meet Lindsay

    Swiss Re published a great article on some of the newest & emerging risks in Life Insurance. Economic, technological, socio-political, and environmental changes all have the potential to change risk. Some interesting themes for life and health risks include air pollution as a mortality driver, and democratization of genetic testing.

    The article further explains, some parts of the world are experiencing a significant increase in air pollution exposure due to rapid industrialization. China is a perfect example of this. The impacts on human health are starting to become visible and studies show life expectancy in these areas to decrease by 3-5 years. Air pollution has been linked to impairments such as chronic obstructive pulmonary disease (COPD) and cancers such as lung and bladder cancer.

    The World Health Organization has now classified outdoor air pollution as a carcinogen to humans. 

    The risk of democratization of genetic testing can help to diagnose the genetic basis of a disease and may also uncover predispositions to cancer or other diseases. However, results depend both on reliable laboratory procedures and accurate interpretation of results. The potential impact on life and health insurance markets include the implication of anti-selection, issues with privacy laws, medical malpractice claims, and more.

    3. Identifying the Needs of Millennials

    A great infographic was published recently from Gen Re, a financial services company specializing in reinsurance. Their infographic and accompanying blog post aimed to find what made millennials tick and how they can help companies further engage this generation.

    Millennials, also known as Generation Y, include anyone born between 1980 and 2000. This generation wields significant spending power & influence and possesses particular attitudes & behaviours that call for innovative approaches to marketing and communicating insurance value propositions.

    This group will be shaping the insurance industry over the next decade both as consumers and as employees.

    Studies show that millennials are less financially literate than their older Gen Xers and are skeptical toward financial institutions. This tech-driven generation poses a challenge to the insurance industry's established communication strategies.

    Soon millennials will be impacting the industry from within as hundreds of thousands of insurance positions are set to be filled by this group by 2020, with many aspiring to be leaders in the next five years!

    What are you doing to attract the next generation of Life Underwriters? 

    4. Turning Change into Opportunity

    Demographic shifts and changing customer behaviours will help shape the life insurance industry's long term future and, the insurers who anticipate these changes will be better positioned for future growth.

    The Internet, mobility and social networking have created a new generation of customers who demand simplicity, speed and convenience. These trends will only accelerate, which very well may lead to a situation where customers will be more willing to buy 'direct'... resulting in the disappearance of distributors as sales channels.

    What's more? Environmental factors and changing customer behaviours will also greatly affect the life, annuities and retirement sectors, which will experience significant change, such as new value offerings for seniors and better risk management.

    As a result, underwriting executives will be looking for ways to exploit new sources of information to improve risk selection. With the right talent and proper use of information and analytics in underwriting, a greater number of transactions can be automated and this will help overcome the looming talent gap as the current generation of underwriters approach retirement age.

    Jennifer Sadler is Underwriter at LOGiQ3
    Meet Jen

    These were some great trends that we wanted to share with all of you, they can really get your wheels turning! What important trends have you noticed recently?!

    Keeping an eye on the changes in the life insurance industry is critical to our success and presenting innovative solutions to our clients!

    What steps have you taken in your business or career to match the changes in the industry? Have you experienced the effects of mobile and wearable technology? What measures have you taken to account for environmental changes in your business? 

    Get in touch with us to see what solutions we have for you to solve your Underwriting challenges and issues.


    Topics: Underwriting, E-Learning / Training

    How Much Does It Cost to Outsource Reinsurance Administration?

    Posted by Brian Wilkinson

    Dec 3, 2014 9:30:00 AM

    For any buyer in today’s economy, before you make a purchase, you're likely going to ask "how much does it cost?" This of course, is no different in the Life Insurance Industry or in our Reinsurance Administration line of business. When a company is considering outsourcing any of their ceded or assumed reinsurance functions, one of the first questions asked is, well, “How much is it going to cost?”  

    The answer to that question isn’t always as easy as it seems on the surface. We consider a number of factors when pricing an outsourced reinsurance administration solution

    Reinsurance Administration_resized

    1) The number of legal entities in play and the number of reinsurers and/or retrocessionaires often speak to the complexity of the underlying reinsurance arrangements. Arrangements which have internal reinsurance components, or involve multiple layers of reinsurance, can contribute to more complex data flows and accounting.

    2) The number of projected treaties and cession rates factor into determining system resource requirements and resource costs.

    3) Reinsurance treaty structure and complexity can contribute to other questions/considerations such as...

    • Is a treaty open to new business?
    • Is reinsurance on a quota share or YRT basis?
    • Is reinsurance transacted on a bulk or individual basis?
    • Is there M&A history? 

    4) Customized reporting requirements over and above what is “standard” in the industry can sometimes influence cost.

    5) Perhaps the most important driver of cost, however, is the number of system interfaces required, and the quality of data available for reinsurance processes. Data quality is the most important factor in both initial migration/conversion costs, as well as on-going maintenance costs. Though data quality costs are not always apparent, they are important to consider.

    "Sometimes the costs that seem most obvious
    aren't always the main drivers of price"

    A challenge we often encounter during the pricing process is that prospective clients may not consider some of the indirect costs associated with running their business. In addition to the factors discussed above, IT, legal, insurance and HR costs become equal considerations. Perhaps most importantly, however, as a professional outsourced reinsurance administrator, is the severity of adequately addressing data security and compliance measures such as: 

    • An annual audit report of our operations (SSAE16 Certification) 
    • Data privacy and security
    • Project Management services 
    • Migration process(es)  

    Project Management is an often overlooked component to outsourced services. The success or failure of an outsourcing relationship often hinges on an organizations ability to adequately plan and execute on projects with the necessary level of communication to all stakeholders.

    So the simple answer to “What will it cost me?” is, “It depends!” 

    Pricing an outsourced reinsurance administration solution is a complex exercise, with a number of factors – some are obvious, others less-so. At LOGiQ3, we have developed a structured set of criteria to derive a competitive pricing schedule to ensure alignment with our clients’ goals and objectives.

    To learn more about how LOGiQ3 can help with YOUR reinsurance administration outsourcing needs, start by booking a free consultation with me. You can reach out to me directly, or follow the link below!

    Happy to connect! 


    Topics: Outsourcing

    LOGiQ3's December Holiday Campaign

    Posted by Nick Joly

    Dec 1, 2014 11:42:00 AM

    As many of you already know, last month we kicked off our Annual Holiday Campaign in spirit of Movember, which was a great success thanks to the efforts of our in house moustache growers, our friends, clients and those who kindly submitted a testimonial to us!

    The campaign as a whole resulted in the raising of 
    over $1500.00!!

    In light of this great success and the holiday seasons, we'd like to keep the momentum going to continue inspiring positive change! This will be our second year acting as sponsor and donor with a local Torontonian charitable foundation, The Dixon Hall Organization. For the entire month of December we will be continuing to donate on behalf of those who simply submit a testimonial to us!


    As we continue to grow, we continue to strive for excellence, both in the service we provide and the customer experience we deliver! See what others are saying here!

    What has YOUR experience with us been like?! 

    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Connect with Nick

    I invite you to visit our Testimonial Submission page to help us share your story and your LOGiQ3 experience. Your testimonial can simply answer the question: Why would you recommend LOGiQ3?

    For more information on the the Dixon Hall Charitable Organization, you can visit their website and to help make a difference in the lives of those in need this holiday season, you can start by sharing your experience!

    YOU SUBMIT a testimonial and WE WILL DONATE!


    Submit Testimonial

    A Quick Guide to the Canadian Life Insurance Distribution Model

    Posted by Nick Joly

    Nov 26, 2014 10:33:00 AM

    As you may know, the Canadian Life Insurance Industry can be complex and can have many, many layers! I know that when I first started working at LOGiQ3, I didn’t have a clue as to what went on in life insurance past the point of filling out an application with my advisor. The financial services industry alone can cover anything from banks to insurance companies to reinsurance administration to life advisors… you name it!

    After a few months on the job and some behind-the-scenes work on APEXA, an industry-led compliance solution for Canadian Life Insurance advisors, MGAs and carriers, what I found was that there was a lack of thorough yet simple to understand information on the more complex layers that make up the Canadian life insurance industry, such as,

    • Distribution Channels (Advisors, MGAs, AGA, Captive Agents),
    • Brokers, Sub-Brokers,
    • Carrier/Insurance Suppliers,
    • Reinsurance,
    • Retrocessionairs, and so on! 

    Earlier this year, PricewaterhouseCoopers published a great study (2014 Sound Advice) outlining the different players in the Canadian life insurance industry, with one section focused primarily on the distribution model… and from that, in an effort to remove some layers of complexity, I’ve whipped up a great INFOGRAPHIC on the industry, specifically at the Distribution Level -  Advisor, MGA and AGA. 

    Tweet: Hey! Check out this awesome #INFOGRAPHIC from @logiq3 http://ctt.ec/28Acb+
    Tweet & share this INFOGRAPHIC with your friends!


    Tweet & share this INFOGRAPHIC with your friends! 
    Tweet: Hey! Check out this awesome #INFOGRAPHIC from @logiq3 http://ctt.ec/28Acb+
    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Connect with Nick

    This fun and quirky infographic is my gift to you. I hope it provides you with some clarity on the life insurance distribution model.  

    APEXA is a Canadian life insurance advisor screening, contracting and compliance service that will remove several layers of complexity in doing business with a life advisor as well as provide higher levels of standardization and conformity. 

    To learn more about APEXA and our accompanying services, I invite you to continue browsing our site and to contact us directly if you have any questions!

    For more great content, insight and innovation behind LOGiQ3’s projects, simply subscribe to our blog!

    Like what you've read? Subscribe to our blog!

    Topics: Insurance Distribution, APEXA

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