News & Commentary
Content posted in December 2013
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IDP Owner Peter Carlino Dies at 92
News  |  12/29/2013  | 
P&C software and services company executive began insurance career in the 1950s.
Are Insurers Ready for Bitcoin?
News  |  12/26/2013  | 
An Indiana insurance agency recently began accepting Bitcoin payments. Will carriers join the trend?
Insurance & Technology Top 10 Stories of 2013
Slideshows  |  12/23/2013  | 
The most popular stories on insurancetech.com reveal an industry focused on using next-generation technologies to improve customer interaction, claims response, fraud detection and more.
5 Keys to Virtualizing Disaster Recovery
News  |  12/20/2013  | 
Hosted and cloud-based systems are helping insurers do a better job of preparing for and recovering from disasters and other business interruptions.
What Does The Cloud-Based Insurer Look Like?
News  |  12/20/2013  | 
Insurance companies new and old are turning away from the traditional datacenter model and embracing cloud systems. How does that change the texture of IT departments?
Customer Service at Core of New Zealand Insurer's Core Revamp
News  |  12/20/2013  | 
AMI is using Exigen's solution for auto policy administration, billing and claims solutions.
Omnichannel Revolution Grips Insurance Core Systems
News  |  12/19/2013  | 
Cloud-based policy administration systems are increasingly viable as insurers seek customer-centricity from their core systems.
Analytics Spoken Here? Finding a Common Language
Commentary  |  12/19/2013  | 
Analytics professionals must communicate and educate on what analytics is, how it adds value, how it is used and how to implement it.
Capital Taps Agencyport for Distribution Overhaul
News  |  12/19/2013  | 
The insurer is in the midst of a full core systems revamp.
Long Live the Insurance Agent: 4 Reasons the Channel is Still Vital
Commentary  |  12/19/2013  | 
Trends in serving the 21st-century insurance customers actually give independent agents an edge.
Esurance Takes On Teen Texting and Driving
News  |  12/19/2013  | 
The DriveSafe program limits teens’ cell phone functionality and monitors driving behavior when they’re behind the wheel.
Chubb Pursues Collaboration As A Disruptive Force
News  |  12/19/2013  | 
Chief innovation officer Jon Bidwell discusses how Chubb is using internal social media platforms to rapidly improve products and processes.
The State Of Policy Admin Systems Modernization
News  |  12/19/2013  | 
Insurers are making progress retiring legacy core systems, but they’re not always satisfied with the new policy admin systems they’re implementing, research from SMA reveals.
Freestone Selects PCIS CompVISION for Workers’ Compensation
News  |  12/18/2013  | 
After a negative experience with implementing a custom platform, FIC selects a system with built-in workflow processes in a 45- to 60-day timeline.
Security First Tries Personal Videos to Demystify Homeowners Coverage
Commentary  |  12/18/2013  | 
The personalized videos explain critical details about coverage.
2013 Disasters Cost Insurers $44 Billion: Swiss Re
News  |  12/18/2013  | 
The cost stems from $130 billion in total economic losses from disasters in 2013.
Former Microsoft Exec Tasked with Healthcare.Gov Cleanup
News  |  12/17/2013  | 
Kurt DelBene, who last led Microsoft's Office division, takes over management of the embattled federal insurance exchange.
MAPFRE Commerce Insurance Brings Telematics to Massachussetts
News  |  12/17/2013  | 
This is the second introduction of the MAPFRE DriveAdvisor usage-based insurance product in the U.S. this year.
Insurers to ‘Double Down’ on Tech in 2014: EY
News  |  12/17/2013  | 
The transition to customer-centric operating environments requires realignment and integration of internal technology, says Ernst & Young
5 Reasons Why Annuities Carriers Should Change Their Compliance Fulfillment Practices
Commentary  |  12/16/2013  | 
E-delivery of prospectuses and other communications is gaining momentum in the annuities industry.
2014 Insurance industry Outlook: 5 Predictions
Commentary  |  12/16/2013  | 
2014 is going to be a year of business growth for many insurers -- here's why.
Intact Financial Selects Guidewire Billing System
News  |  12/16/2013  | 
The Canadian insurer will use Guidewire BillingCenter to deliver operational efficiencies and lower IT costs.
Feds (Probably) Not Taking Over Insurance Regulation
News  |  12/13/2013  | 
The complexity of the insurance industry means that companies of different sizes could see reforms proposed in the FIO's modernization report imposed by different bodies.
Insurance Groups React to FIO Modernization Report
News  |  12/13/2013  | 
Insurance industry groups share thoughts regarding the FIO’s report on insurance regulation and distribution in the U.S.
FIO Urges States to Tighten Insurance Data Oversight
News  |  12/13/2013  | 
States should "develop standards for the appropriate use of data for the pricing of personal lines insurance," the agency writes in its long-awaited regulatory modernization report.
6 FAQs about Financial Risk Models Answered
Commentary  |  12/12/2013  | 
Conning has identified common misperceptions, key functionalities, and other aspects of financial risk models that insurers must understand to leverage the tools correctly.
This is What Text-Blocking Looks Like
Commentary  |  12/12/2013  | 
New technology from Cellcontrol, a common partner of insurance companies, can block phones only in the driver's seat, leaving passengers free.
Are Legacy Systems Keeping You Prisoner?
News  |  12/12/2013  | 
Does your organization depend on a decades-old IT infrastructure? Here are some strategies for breaking out of outdated systems that are too risky to leave in place.
Insurers Play Around on Facebook: 5 Examples
Slideshows  |  12/11/2013  | 
Facebook has been a fertile gamification platform for insurers over the past few years. Here are some of their efforts.
Consumers Report Big Improvements in HealthCare.Gov Usability
Commentary  |  12/11/2013  | 
A study by Change Sciences finds that the government-run insurance exchanges aren't performing much worse than the industry average -- but still have a long way to go to catch up to e-commerce pioneers.
Eco-Finance in Brazil: One Bank's Green Journey
Eco-Finance in Brazil: One Bank's Green Journey
Insurance & Technology Videos  |  12/11/2013  | 
Banco Real believes there is a high correlation between organizations that are environmentally sound and those that are financially sound. Those are the organizations the bank wants to do business with.
Four Ways Insurers Use Tech to Outperform the Market
Commentary  |  12/11/2013  | 
Commercial lines insurers face challenges, but some leading companies have used technologies like big data and analytics to outperform their peers.
CAMICO Names New VP – Chief Claims Officer
News  |  12/10/2013  | 
The CPA professional liability insurer has appointed Rachel Ehrlich as VP – Chief Claims Officer.
Smaller Insurers Boost Customer Satisfaction in P&C: Study
News  |  12/10/2013  | 
ACSI study also shows improvement among health and life insurers, but there is room for improvement.
Former TX Insurance Commissioner Appointed VP at Starr Insurance
News  |  12/9/2013  | 
Eleanor Kitzman will take over as vice president of Starr Insurance Holdings, Inc.
Health Net Marketing Exec Jumps to BCBS Arizona
News  |  12/9/2013  | 
Jennifer Kaufman is named VP of marketing at the insurer.
Check Out This Australian Insurer's Facebook Game
News  |  12/9/2013  | 
NRMA Insurance's "Lock-a-Door" game a colorful way to elucidate insurance's value proposition.
Barnstable Mutual Does More With Less Using IDP Outsourcing
News  |  12/6/2013  | 
Software and hosted systems from IDP allow 12-employee Barnstable to expand services.
RACQ Taps Guidewire to Recover from Partnership Dissolution
News  |  12/6/2013  | 
Royal Automobile Club of Queensland Insurance adopts Guidewire’s core platform after a business partnership dissolution the left Australian insurer needing multiple new IT systems.
Can Your Insurance Company Be the Next Coinstar?
Commentary  |  12/6/2013  | 
Identifying how consumers are changing and leading in meeting their new and unique needs is something any company can accomplish
Haiyan Leaves $6 Billion Economic Loss: Aon Benfield
News  |  12/6/2013  | 
But insured losses are only a fraction of that full cost, the company says.
BCBS Minnesota Selects Inovalon's Health Insurance Exchange Services
News  |  12/5/2013  | 
Minnesota’s largest insurer chooses Inovalon’s HIX Marketplace solution to address key health plan challenges.
These Two Insurers Are Stretching Telematics Boundaries
News  |  12/5/2013  | 
MetroMile and Direct Insurance are taking different data collection, usage, and reward approaches to usage-based insurance than the market generally.
Coverys Chooses Accenture Software for Core Systems
News  |  12/4/2013  | 
The insurer plans to use Accenture Duck Creek Suite to improve product development and customer service.
Making Online Commercial Insurance Sales a Reality
Commentary  |  12/4/2013  | 
For insurers offering small commercial lines, the question is no longer why they should sell direct online, but rather how.
3 Strategies for Transforming the Customer Experience with Swift Claims Settlements
Commentary  |  12/4/2013  | 
Digital delivery capabilities can help insurers settle claims quickly and efficiently -- and provide an optimal customer experience in the process.
Fireman’s Fund Insurance Appoints Aon Vet CIO
News  |  12/4/2013  | 
Former Aon Risk SVP and CIO John Elliott has been named CIO of Fireman’s Fund.
The Big Data Approach to Telematics Insurance
Commentary  |  12/3/2013  | 
Imagine an insurance firm that could bill you daily and calculates your risk profile in real-time, as your driving data is captured.
State Farm Sees Opportunity in Home Monitoring
News  |  12/3/2013  | 
The insurer has announced a partnership with ADT that gives policyholders access to technology that measures in-home risk.
Answer Financial Launches Insurance YouTube Channel
News  |  12/3/2013  | 
Videos in the Agent Corner series will demystify common insurance concerns and provide advice for consumers.
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