News & Insights

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LOGiQ3 and msg global solutions announce Chief Operating Officer for Joint Venture, mL3 global life

Jul 11, 2013 7:00:00 AM / by Natalie Ho

Raymond E. DiDonna joins mL3 global life, a newly formed, North American life reinsurance solutions company.

July 11, 2013 – mLglobal life, the recently named joint venture between LOGiQ3 and msg global solutions, is pleased to announce that Raymond E. DiDonna, formerly a vice president with the Hartford Insurance Group has joined as Senior Vice President and Chief Operating Officer.

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LOGiQ3 Corp. Ranks No. 219 on the 2013 PROFIT 500

Jun 3, 2013 9:15:00 AM / by Natalie Ho posted in Press Releases

PROFIT magazine unveils 25th annual list of Canada’s Fastest-Growing Companies

Toronto, ON, June 3, 2013 (PRWeb)- PROFIT Magazine today ranked LOGiQ3 Corp. on the 25th annual PROFIT 500, the definitive ranking of Canada’s Fastest-Growing Companies. Published in the Summer issue of PROFIT Magazine and online at PROFITguide.com, the PROFIT 500 ranks Canadian businesses by their revenue growth over five years.

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LOGiQ3 and Eckler Ltd. Partner on a Protective Value Study for MIB

May 31, 2013 2:15:00 PM / by Natalie Ho posted in Press Releases, Underwriting

Two organizations partner to perform a Protective Value Study that will quantify the value of MIB's Underwriting Services for Group Voluntary life insurance products sold through the worksite.

31, May 2013: MIB Group, Inc. is engaging LOGiQ3, an expert provider of life insurance and reinsurance consulting and outsourced services and Eckler Ltd., a consulting and actuarial firm based in Toronto to perform a Protective Value Study that will quantify the value of MIB’s Underwriting Services for Group Voluntary life insurance products sold through the worksite.

MIB periodically engages independent, third-party experts to conduct Protective Value Studies providing an impartial assessment of the value of MIB’s Underwriting Services in key market segments for the benefit of its 450 life and health insurance members and the North American industry at large. Each study targets a specific line of business, product type, distribution channel, and/or underwriting paradigm providing insight on the return of investment (ROI) insurers can expect by incorporating MIB into their risk selection process. Previous studies conducted on fully underwritten life and health insurance products showed MIB’s protective value at a nearly $50:1 ROI. A 2012 study conducted on a simplified issue life insurance product showed an ROI of $30:1, with protective value extending to face amounts as low as $3,600.

“These studies let insurers evaluate ROI based on the all-in costs of MIB,” said John Detwiler, MIB’s Director of Market Segments and Account Management. “Today, worksite marketing of group voluntary insurance products is a growing distribution channel for many MIB members—one where our research has shown anti-selective behaviors to be highly prevalent,” he continued. “We remain concerned that despite higher pricing for these products, insurers may not be sufficiently compensated for the additional ‘hidden risk’ they are assuming. We believe this study will demonstrate that insurers not using a simplified issue process that includes MIB are missing the chance to improve their quality of business and profitability.”

“We’re delighted to be working with LOGiQ3 and Eckler on the creation of this Protective Value Study,” continued Detwiler. MIB anticipates publishing the results of this Protective Value Study on Group Voluntary life insurance products in late 2013, and plans to share the study results with the industry (as they have in the past) through an article in the trade press.

Carmela Tedesco, Vice President at LOGiQ3 responsible for underwriting services and training said, “We are excited by the opportunity to help perform this Protective Value Study. All life insurance and reinsurance companies seek continual improvement in their risk management processes and will understand the value provided by services such as MIB.”

Sylvain Goulet, Principal at Eckler responsible for life and health insurance consulting said, “We look forward to working with LOGiQ3 to produce a high-quality report which will give MIB and its members a valuable tool to understand and appreciate its value in the Group Voluntary insurance segment.”

All parties involved in this partnership maintain unique expertise and competencies and are highly committed to deliver a risk-based approach Protective Value Study to the group insurance market specific to the voluntary segment.

 

About LOGiQ³

LOGiQ³ is the expert provider of life insurance and reinsurance consulting and outsourced services. LOGiQ³ delivers long-term strategic solutions and short-term tactical support across Underwriting, Reinsurance Administration, Claims and Audit. LOGiQ³ supports clients across the life insurance service chain from agent to retrocessionaire from its offices in Toronto, Canada, and Cardiff, UK.

About Eckler

Eckler is owned and operated by its active principals. It is the largest actuarial consulting firm with respect to both life and non-life insurance in Canada and in the English-speaking Caribbean. Eckler has a tradition of leadership in the actuarial profession and in the benefits industry. Our consultants are involved in the committee work and governance of various national and international professional organizations. We believe that the special insight we gain through these activities gives a competitive edge to our client services.

 

About MIB

MIB is the life and health insurance industry’s most trusted resource for underwriting information and analytical services. Owned by the industry it has served for more than a century, MIB is uniquely positioned to aggregate industry insights in order to develop products and services for its members that improve their risk management decisions. MIB, Inc. and MIB Solutions, Inc. are wholly-owned subsidiaries of the MIB Group, Inc.


Editorial and Media Notes: 

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2013 Industry Insight Paper - Life Reinsurance Claims

May 29, 2013 12:59:00 PM / by Natalie Ho posted in Whitepapers and Research

This paper will provide a valuable insight into North American Life Reinsurance Claims. Click here to download. 
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Key Number of Managing General Agencies (MGAs) Support Canadian Life Insurance Industry Advisor Screening, Contracting, and Compliance Monitoring Investigation

Apr 15, 2013 9:45:00 AM / by Natalie Ho posted in Press Releases

LOGiQ³ continues to make progress with support from several key Managing General Agencies in developing an industry standard approach providing benefit for all stakeholders by eliminating duplication and adding needed elements in advisor screening, contracting and compliance monitoring efforts.

Toronto, ON (PRWEB) April 15, 2013 - Life insurance advisors, distributors and carriers have supported the Canadian Council of Insurance Regulators’ Agencies Regulation Committee’s (ARC) view that as life insurance distribution has changed from a career sales force driven model to one that is now predominately occupied by independent advisors using Managing General Agencies (MGAs), that working together as an industry to proactively review and adapt how the industry meets the desired outcomes of its regulators is timely and valuable.

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New Interactive Enhancements made to LOGiQ3’s E-Learning Underwriting Training Program and Launch of App to Assist Life Advisors

Mar 31, 2013 11:19:00 AM / by Natalie Ho posted in Innovation, Press Releases, Industry News

Demonstration available at the Association of Home Office Underwriters Conference (AHOU) from May 7 – 10, 2013 in Phoenix, AZ 

Toronto, ON (PR Web) March 29, 2013 – LOGiQ3 Corp, the expert provider of life insurance and reinsurance consulting and outsourcing services, is pleased to showcase new enhancements made to their Underwriting E-Learning Training Program at the Association of Home Office Underwriters (AHOU) conference from Sunday May 7 to May 10, 2013 at the Arizona Biltmore Hotel in Phoenix, Arizona.

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LOGiQ³ Corp and msg global solutions Form Joint Venture to Serve Life Reinsurers with Full Spectrum Solution

Mar 1, 2013 1:29:00 PM / by Natalie Ho posted in Press Releases, Industry News

Two leading solution and service providers in the life reinsurance industry announce the creation of a joint venture supporting insurer demand in the global life reinsurance market.

Toronto, ON (PRWEB) March 01, 2013 - LOGiQ³ Corp. (LOGiQ³), a Toronto based company, delivering expert life insurance and reinsurance services, and msg global solutions, Inc. (msg global), a Zurich based leading provider of integrated IT solutions to companies in various industries, including insurance and financial services, announced today plans to launch a joint venture dedicated to implementation of life reinsurance solutions.

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LOGiQ3's Underwriting Training Program Totals 95 Underwriting Graduates Since Inception

Feb 1, 2013 7:00:00 AM / by Natalie Ho posted in Underwriting, Press Releases

Unique underwriting training program applaud by many in the insurance industry adds new graduates to their alumni family.

January 31, 2013 – Canadian-based LOGiQ3 Corp. (LOGiQ3) - offering a one-of-a kind underwriting training program to the North American underwriting community - increased its underwriting graduates to 95 since the inception of the program in 2007.

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LOGiQ3 Appoints New Advisory Board Member

Jan 23, 2013 2:02:00 PM / by Natalie Ho posted in Press Releases, Insurance Distribution

Dr. Wolf Becke, former CEO of Hannover Life Re, joins the LOGiQ³ Advisory Board

Toronto, ON January 22, 2013 - LOGiQ³, Toronto-based life insurance and reinsurance consulting and outsourcing company announced today the appointment of Dr. Wolf Becke, former CEO of Hannover Life Re, to its advisory board.

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Canadian Life Insurance Industry Initiative Underway

Jan 11, 2013 5:00:00 AM / by Natalie Ho posted in Press Releases, Insurance Distribution, Industry News

January 11, 2013 – LOGiQ3 Corp. (LOGiQ3), provider of life insurance and reinsurance outsourcing and consulting services is currently working with key Canadian life insurance industry stakeholders to investigate an industry Advisor Screening, Contracting, and Monitoring Model. 

The Canadian life insurance industry is a well regulated industry which tends to be described as principals-based.  The industry works constructively with regulators and develops its own standards and practices that support the outcomes set out by the regulators.   Independent advisors, distributors and carriers agree that this approach has served the industry and its consumers very well over the years. They also agree with the Canadian Council of Insurance Regulators’ Agencies’ Regulation Committee (ARC) that as distribution has changed from a career sales force driven model to one that is now predominately occupied by independent advisors using managing general agencies (MGAs) to access various carriers, that working together as an industry with our regulators and being progressive in adapting to change is valuable to all stakeholders.

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