News & Commentary
Content posted in March 2009
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OIT Releases Version 10 of DocFinity Suite
News  |  3/31/2009  | 
Built around a J2EE server, the latest version of DocFinity includes enterprise-class business process management (BPM) and workflow tools with unprecedented power and speed, as well as products for data capture, email management, and records management, the vendor claims.
Sentry Insurance Goes Live on Guidewire PolicyCenter
News  |  3/31/2009  | 
PolicyCenter implementation has enabled Sentry to optimizes sales, underwriting and policy administration operations while improving service to policyholders, according to the insurer.
The Keane Organization Releases SCORE 3.75
News  |  3/31/2009  | 
The latest version of the Keane SCORE SaaS product automates measurement, management and monitoring for governance, risk and compliance.
Lloyd’s of London, IBM Look to Connect London Insurance Market
News  |  3/31/2009  | 
Promoting ACORD standards rather than a proprietary platform, Lloyd's of London has partnered with IBM to deliver a centralized messaging hub to the London insurance market.
A.M. Best Releases 2009 Best’s Financial Suite—Reinsurance
News  |  3/31/2009  | 
The 2009 version of Best's Financial Suite-Reinsurance, including Best's Schedule F and Best's Schedule S, tracks insurers ceding or assuming risk and is available via the BestLink online data retrieval service or on CD-ROM.
Safety Insurance Chooses EagleEye Analytics Solution
News  |  3/31/2009  | 
EagleEye Analytics' Insight solution will allow the Boston-based P&C insurer to implement superior underwriting, pricing and marketing strategies across all lines of business, the vendor claims.
CSC to Launch Java-based Version of its Exceed Policy Administration System
News  |  3/31/2009  | 
Unitrin will be the first customer of Exceed J, which provides a path to new technology to current users of the tier-one P&C carrier policy admin system.
Despite Downturn, Insurers Remain Committed to Core Systems Evolution
News  |  3/31/2009  | 
Despite the gloom that has consumed the financial services industry, most insurance companies remain bullish on technology investment and many are looking to build out policy admin capabilities to position themselves for growth as the economy emerges from the recession.
Clearwater Analytics Launches Insurance Offering
News  |  3/30/2009  | 
Clearwater Analytics has released Insurance Analytics to address the industry's investment reporting needs.
Bankers Insurance Selects First American Risk Solutions
News  |  3/30/2009  | 
Bankers Insurance Group has licensed components of First American Spatial Solutions' Advanced Flood Risk Solutions product suite.
Xerox Releases Two DocuShare Offerings For Paperless Process
News  |  3/30/2009  | 
Virtual Filing System includes a document storage assessment, scanning technology, software, set-up and user training.
Closing the Data Gap on Finance and Risk Management
News  |  3/27/2009  | 
Convergence of quality risk and finance data will drive performance management, operational improvements and cost efficiencies.
Insurance Industry Groups React to Treasury Secretary’s Statements to House Committee
News  |  3/27/2009  | 
Speaking before the House Financial Services Committee, Geithner was forthright about the need for systemic risk regulation but his comments on optional federal charter were subject to interpretation.
Louisville Health Information Exchange Taps 3M to Build Health Record Bank
News  |  3/27/2009  | 
Known as LouHIE, the Louisville initiative will differ from other health information exchanges in that consumers will control what parts of their personal health information will be shared with which parties.
Northwestern Mutual Names Zore Chairman, Makes Other Senior Appointments
News  |  3/27/2009  | 
Ed Zore will add Chairman and board member to his CEO duties. Northwestern Mutual announced the reappointment of several executive vice presidents, and has named Jean Maier new Head of IS as Greg Oberland takes responsibility for investment products and services.
Honor Roll: This Week's Top Insurance Blogs (Mar. 22-28)
News  |  3/26/2009  | 
"Why not make the NAIC an arm of the federal government and give the U.S. President the right to appoint its leadership (just as he appoints the head of the Treasury and the Federal Reserve)?" wonders Mike Gantt in a sizable post on federal regulation.
Geithner Affirms Systemic Risk Regulation, Rejects Regulatory Arbitrage
News  |  3/26/2009  | 
Secretary Geithner's statement makes explicit what many observers have insisted was inevitable. His comment is less "a shot across the bow" at this point than a statement of the obvious. And the fact that proponents of optional federal charter (OFC) have already muted their emphasis on the word "optional" shows that the message, implied or otherwise, had already begun to sink in.
InsWeb Launches Consumer Online Insurance Information Site FreeInsuranceAdvice.com
News  |  3/26/2009  | 
Online insurance aggregator's site provides information, tools and other resources designed to be useful to consumers, who can access information organized by demographic group or product type.
Pacific Life in Production with iPipeline iGOFORMS
News  |  3/26/2009  | 
Insurer expects intelligent fillable forms solution to increase sales efficiency by streamlining life insurance product processing for its distributors.
Milliman Releases P&C Reserve Variability Model v1.4
News  |  3/25/2009  | 
Milliman has released the latest version of its casualty insurance reserve variability modeling software.
Misplaced Outrage or Righteous Anger?
News  |  3/25/2009  | 
If we took a closer look at the AIG bonuses and the people receiving them, at least the public could decide for itself exactly how outrageous this whole situation is.
Obama Appoints Healthcare IT Coordinator
News  |  3/24/2009  | 
Dr. David Blumenthal will lead the implementation of a nationwide healthcare IT infrastructure.
SAS Releases Fraud Framework
News  |  3/24/2009  | 
The newly released SAS Fraud Framework solution includes insurance industry specific components to detect and prevent fraudulent claims activity.
Traditional Rivalries Muted as Congress Deliberates Federal Insurance Regulation
News  |  3/24/2009  | 
The prospect of federal regulatory intervention has reignited traditional tensions, but the March 17 hearing of the Senate Banking Committee inaugurated a lengthy process wherein forces beyond the insurance industry will determine its regulatory fate.
Alaska’s Mount Redoubt Erupts; Insurers Stand By
News  |  3/24/2009  | 
Several eruptions have begun to rain ash on Alaska's Susitna Valley, prompting an ash advisory from the National Weather Service and stepped-up preparations by Zurich/Farmers.
NFU Mutual Chooses Guidewire for Billing
News  |  3/23/2009  | 
Web-based Guidewire BillingCenter will replace multiple, disparate systems, reduce manual processes and improve service capabilities, according to the vendor.
BCBS of South Carolina Selects Med-Vantage HealthSmart
News  |  3/23/2009  | 
The vendor's Health Smart Enhanced Provider Directory and Measure Exchange solutions will be used to enable the insurer's employer customers to provide information to their employees.
Audatex Introduces Online Collision Repair Data Delivery Service
News  |  3/23/2009  | 
AudaUpdate eliminates the need to update vehicle part prices and labor databases through traditional, DVD-based manual processes, according to the vendor.
Westfield Group Names New CTO
News  |  3/23/2009  | 
Stuart Rosenberg has been named Chief Technology Officer at Westfield Group, while his predecessor Ed Largent has been promoted to chief administrative officer.
In Depth: New York Life's Mobile Access Strategy
News  |  3/20/2009  | 
New York Life's industry-leading mobile access strategy combines a conservative 'non-iPhone' approach to content presentation with an aggressive expansion of functionality.
AIG and the Angry Mob
News  |  3/20/2009  | 
Many have fanned the flames of hysteria against AIG by scapegoating the company, despite the possibility of harm to the company's employees and its fortunes. One such person is Rep. Barney Frank, who attempted to brow-beat Ed Liddy in Washington, despite the fact that Liddy has took on the enormous burden of managing AIG after the company's crash without asking for any meaningful compensation. Frank's behavior is all the more absurd given that the public now holds an 80 percent share in the comp
IBM to Run New Lloyd’s Exchange
News  |  3/20/2009  | 
The new, ACORD-compliant messaging service is based on the imarket electronic trading network for the UK company market that IBM built and has run since 2003.
Honor Roll: This Week's Top Insurance Blogs (Mar. 15-21)
News  |  3/20/2009  | 
Our favorite insurance technology-related blog posts from around the Web (March 15-21, 2009):
AIG Corporate Security Issues Safety Memo to Employees
News  |  3/19/2009  | 
Internet site Gawker claims leaked memorandum includes advice on responding to perceived threats and personal security recommendations.
PMSI Releases Medicare InstaConnect
News  |  3/19/2009  | 
PMSI Settlement Solutions has released Medicare InstaConnect in response to new Mandatory Insurer Reporting (MIR) requirements.
Pac Blue Cross and BC Life Implement Global IQX System
News  |  3/19/2009  | 
Pacific Blue Cross and British Columbia Life & Casualty have implemented the first phase of the Global IQX Rating and Quotation System.
Tim Attia to Lead Global Sales for Exigen
News  |  3/19/2009  | 
Former Camilion Solutions executive will have responsibility for sales in North America, Europe and Asia-Pacific.
The Downside to Increased Healthcare Technology
News  |  3/19/2009  | 
With $17 billion set aside in the economic stimulus package for electronic health records and the Obama administration's stated goal of digitizing the country's medical records in five years, a lot of people have been wondering: Can we do it? Will we be able to digitize the nations health records and put this kind of healthcare technology in the offices of every healthcare provider, big and small, across the country?
National Dental EDI Council Girds for Real-Time Transactions and PHR Challenges
News  |  3/19/2009  | 
NDEDIC has begun to focus on driving real-time transactions among its participants and ensuring the participation of dental insurance stakeholders in the development of personal health records.
Lincoln Financial Promotes CIO Cornelio
News  |  3/18/2009  | 
Charles Cornelio has been appointed executive vice president and chief administrative officer at Lincoln Financial Group.
ING Launches Online Peer Comparison Tool
News  |  3/18/2009  | 
INGCompareMe is designed to inspire investment in financial products and services based on users' comparing their financial status to similar individuals.
AIG's Edward Liddy: Pariah or Public Servant?
News  |  3/17/2009  | 
I wonder if Ed Liddy misses retirement.
Camilion and Discoverture Form Strategic Partnership
News  |  3/17/2009  | 
The vendors will collaborate in the areas of professional services to provide implementation, integration and deployment services for Camilion's Authority Suite policy administration solution.
Senate Banking Committee Hears Divergent Testimony from P&C, Life Industry Representatives
News  |  3/17/2009  | 
Frank Keating of the American Council of Life Insurers (ACLI) argued the need for a federal insurance regulator, while John T. Hill of the National Association of Mutual Insurance Companies (NAMIC) said his organization supported a reformed state-based system.
PAS, Legacy Replacement and Honda Accords
News  |  3/17/2009  | 
The biggest danger for most carriers is not failing to survive the downturn, but rather failing to be competitive as it ends. Long sales and implementation lifecycles mean that carriers trying to get ready for the upswing are already late in starting the process if they haven't already, and few project alternatives offer similarly strong business cases while also being competitive necessities. As a result, we're not likely to see the trend of core systems replacement end anytime soon.
Environmental Risk
Environmental Risk
Insurance & Technology Videos  |  3/16/2009  | 
Brazilís Banco Real pioneers environmental risk analysis
Vision Solutions Launches Data Recovery Technology
News  |  3/16/2009  | 
Vision Solutions has launched RecoverNow, a data recovery and continuous data protection solution.
Northwestern Mutual Quietly Leverages Web 2.0
News  |  3/16/2009  | 
Northwestern's Lifespan calculator balances credibility and simplicity, and is presented in a low-key but attractive style. For all that, it could be described as just another need-analysis tool among many. What is interesting is the insurer's press release's indirect incitement to circulate the calculator through social networking
Chubb Signs Five-Year Contract with Symbility to Upgrade Claims Management
News  |  3/15/2009  | 
Chubb signs five-year contract with Symbility to upgrade claims management; carrier will use Symbility.NET component to manage claims workflow, while field adjusters will use vendor's wireless application.
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