News & Commentary
Content posted in March 2013
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CNO Financial Group Appointments Support Customer Focus, Growth
News  |  3/29/2013  | 
Changes at CNO will support the company's focus on the customer by creating a strategic marketing organization that leverages customer analytics, leads, and products across the enterprise.
CUNA Mutual Pursues Growth With Data-Driven Marketing
News  |  3/28/2013  | 
Financial services company's strategic conception of data underlies its multichannel, multiproduct and customer-centric growth aspirations.
AIG Sets Compensation Clawback Policy for Executive Wrongdoing
News  |  3/28/2013  | 
American International Group, the insurer whose government bailout was marked by controversy over executive salaries, on Wednesday said its board adopted a clawback policy to recover compensation in case of mistakes or wrongdoing.

Some Healthcare Costs to Rise Under Affordable Care Act, Official Says
News  |  3/27/2013  | 
President Barack Obama's top healthcare adviser acknowledged on Tuesday that costs could rise in the individual health insurance market, particularly for men and younger people, because of the landmark 2010 healthcare restructuring due to take effect next year.

UK's Prudential Fined for Hiding AIA Takeover Plans
News  |  3/27/2013  | 
Prudential, Britain's largest insurer, has been fined 30 million pounds ($45.5 million) for failing to tell the UK financial regulator about its attempted takeover of Asian rival AIA three years ago.

Protective Life Favored to Buy AXA US Insurance Assets: Sources
News  |  3/27/2013  | 
U.S. insurer Protective Life Insurance is the leading candidate to buy some of AXA SA's U.S. life insurance assets in a deal that could be valued at around $1 billion, according to two people familiar with the situation.

How Big Data Opens Up More Product Options to Insurers
News  |  3/26/2013  | 
In a world where some consumers are as curious about their own data as insurers are, carriers can use their analytical experience to tailor products to that need.
Sorting Vendors into Piles: The Proper Role of an RFP
Commentary  |  3/26/2013  | 
The decision to issue an effective RFP primarily lies in an organization’s ability to answer five questions clearly.
Dentegra Insurance Deploys Oracle Insurance Revenue Management and Billing
News  |  3/26/2013  | 
Deployment of the Oracle system enables the individual dental insurance carrier to accelerate policy enrollment and deliver efficient and enhanced billing experiences to customers, among other benefits.
Could Brokers Encourage Telematics Adoption?
Commentary  |  3/26/2013  | 
Basil Enan, CEO of online independent agency CoverHound, expressed interest in being the point person for telematics devices.
The End of Indian IT Staffing as We Know It
News  |  3/25/2013  | 
India's IT outsourcers are promoting "mini CEOs" capable of running businesses on their own, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staff.

5 Issues For Insurers Migrating to Hosted Private Cloud
Commentary  |  3/22/2013  | 
Insurers rightly value flexibility, cost savings and fault resilience of moving to a hosted private cloud via managed service provider, but they should be prepared to address five key issues.
Celina Insurance is Launch Client for IBM 'Social E-mail'
News  |  3/22/2013  | 
The new platform aims to integrate e-mail in social collaboration.
Markel Appoints New CIO
News  |  3/22/2013  | 
Mike Scyphers had been technology lead for Markel Wholesale.
Assurant Settles With N.Y. Over "Force-Placed" Insurance
News  |  3/22/2013  | 
Assurant Inc settled a New York probe of its "force-placed" insurance by agreeing to pay the state a $14 million penalty, refund some homeowner premiums and reform certain business practices.

Michigan Oil Spill Cleanup May Exceed Insurance Coverage
News  |  3/21/2013  | 
Enbridge Energy Partners LP said on Wednesday that the costs of additional cleanup from a huge Michigan oil spill three years ago may push the total bill past the limit of its insurance coverage, hampering its financial results.

I&T's Elite 8 2013: Now Accepting Nominations!
Commentary  |  3/20/2013  | 
Now in their 15th year, I&T's Elite 8 Awards recognize CIOs and other senior executives who have driven energetic, creative and innovative use of information technology to advance their company's success.
Study: Insurers Among Largest Adopters of iOS
News  |  3/20/2013  | 
According to Citrix's latest Enterprise Mobility Cloud Report, insurance companies adopt iOS at a rate far exceeding Android or Windows Mobile.
GM to Recall Vehicles Because Software Issue Could Cause Crash
News  |  3/20/2013  | 
General Motors Co is recalling about 33,700 model-year 2013 Buick LaCrosse sedans and Cadillac SRX crossover vehicles globally to address a potential software problem that could increase the risk of a crash.

Insurer Chief Risk Officers' Profiles Rise with Prominence of Tech: E&Y
News  |  3/19/2013  | 
Increased risk exposure to risk due to social media and channel proliferation, as well as a focus on data and analytics projects in the "big data" era, is raising the profile of the chief risk officer within the insurance enterprise, according to Ernst & Young.
Big Data Not Yet A Best Practice In Insurance
News  |  3/18/2013  | 
Big data is a hot topic across the insurance industry, but many carriers are stymied by the challenges of making a business case for the types of systems and infrastructure investments required to support a big data strategy, says Martina Conlon, a principal in the insurance practice of Novarica.
Gauging The Benefits Of In-Memory Computing For Insurance
News  |  3/18/2013  | 
SAP has made a splash with its Hana in-memory database technology, but its utility for insurance will depend on carriers' need for speed.
A Better Business Case For Big Data
Commentary  |  3/18/2013  | 
Many factors contribute to the continuing difficulty insurers have in making an effective business case for big data investments.
Point-of-Sale Analytics Key to Better Insurance Distribution
Commentary  |  3/18/2013  | 
With traditional marketing channel response rates below 1%, the time is ripe for a disruptive paradigm to guide insurers' quest to capture new business.
The Top 5 Insurers for Customer Experience
Commentary  |  3/18/2013  | 
According to customer experience analyst Bruce Temkin's research, insurers rank seventh out of 19 industries in overall customer satisfaction.
Social Media's Dangers and 7 Other Factors That Can Impact Life Insurance Sales
News  |  3/15/2013  | 
Insurance consultancy Conning says that life insurers must be cognizant of the chatter around them in the social arena, as well as present in the ever-growing channel, to grow their businesses.
Video: Esurance at SXSW -- Who Says Insurance Can't Be Hip?
Commentary  |  3/15/2013  | 
Esurance was at the South by Southwest festival displaying its mobile claims capabilities.
Train Your Data Scientists to Be Storytellers
Commentary  |  3/15/2013  | 
Analytics aren’t all science – data scientists need to be able to communicate complex results to a broad community of stakeholders.
3 Trends in Insurance Technology Training
Slideshows  |  3/15/2013  | 
As with any other IT investment, insurance technology executives need to maximize the value – in terms of time and resources, as well as expenditures for every employee training investment. However, it’s often difficult to know where training will yield the biggest bang for the buck, as well as to determine the most effective ways to deliver training. Here are some strategies CIOs should keep in mind.
As Cyber Threats Build Against U.S., CEOs Ask for 'Light Touch'
News  |  3/14/2013  | 
Corporate leaders from the defense, technology, energy and banking industries told President Barack Obama on Wednesday they agreed cyber attacks were a top security threat but that they were looking for a "light touch" from the government in response to the risk.

IT’s Record of Failure Is Worse Than You Think
Commentary  |  3/14/2013  | 
The record revealed by investigations into IT performance is bad. Unfortunately, according to author and former Guardian Life CIO Frank Wander, the truth is even worse.
Nationwide CMO: 'I Have Double-Digit Million Dollars in IT Projects'
News  |  3/14/2013  | 
Nationwide's EVP and CMO Matt Jauchius took Insurance & Technology through his process for managing marketing IT spend.
Kofax Launch Shows Mobile Capture for Insurance Distribution Heating Up
News  |  3/13/2013  | 
Kofax is the latest vendor to offer plug-and-play mobile document capture for use in insurance consumer apps.
Should Insurers Automate E-mail Deletion?
Commentary  |  3/13/2013  | 
Regulation demands that insurers stick to their content storage policies in case of lawsuit. How regimented is your company?
You Need to Replace Your Policy Admin System — But Are You Ready?
Commentary  |  3/13/2013  | 
Deciding that the time is right for core policy system replacement isn’t the same as being ready to do so, but mistaking the two is a common trap for insurers to fall into.
MassMutual Names New Head of IT Operations
News  |  3/12/2013  | 
Tim Dwyer is responsible for infrastructure services across the organization.
What Should Be on the P&C Agenda for 2013
Commentary  |  3/11/2013  | 
Whether through formal committees or ad hoc work groups, P&C insurers should have these four topics featured prominently on agenda for 2013.
What’s Driving IT’s Record of Failure — And What Can Fix It?
Commentary  |  3/10/2013  | 
A former insurance CIO traces the endemic failure of IT projects — and the economic waste it implies — to the imposition of an industrial process on the social phenomenon of knowledge work.
Big Data Best Practices
Big Data Best Practices
Insurance & Technology Videos  |  3/8/2013  | 
Martina Conlon, a principal in the insurance practice of Novarica, speaks about where insurers stand in terms of implementing big data and some of the best practices they could adopt to accelerate their efforts.
What Matters in IT: Part 3, Business Impact of Architecture for Continuous Migration (ACM)
Commentary  |  3/8/2013  | 
The paramount IT tasks for every firm should be to shift to the most agile possible approach for dealing with legacy issues, thereby reducing legacy spending, and then devote the freed-up funds to innovation instead of to overhead.
SAP's Cummings: Camilion Acquisition Adds Value for U.S. Clients
News  |  3/8/2013  | 
Robert Cummings, head of SAP's insurance business unit, says that the acquisition of Camilion helps fill holes in the company's insurance suite that had kept it out of the U.S. market.
What 4 Model Insurers Say About Industry Trends
Slideshows  |  3/8/2013  | 
Celent recognized 18 insurers with Model Insurer awards last week for their innovative use of technology. These four are early adopters of capabilities that we predict will become table stakes across insurance.
Giving Applied Systems/IVANS its Due Amid Core Systems M&A Buzz
Commentary  |  3/8/2013  | 
The ISO dimension of this week's core systems M&A is significant, but perhaps Applied Systems/IVANS is the more important deal to the industry.
Analysts Assess Insurity's AQS Acquisition
Slideshows  |  3/7/2013  | 
This latest manifestation of the Hartford-based vendor's renaissance exemplifies several industry trends, including a preference for core system suites, the importance of scale and the demand for ISO rating capabilities.
Most Large Employers to Keep Health Insurance Benefit: Survey
News  |  3/7/2013  | 
Most large employers don't expect to send their full-time employees to government health exchanges for insurance during the next five years, but some retirees and part-time workers will end up there, a new survey has found.

U.S. Health Insurers Launch TV War over Medicare Advantage Cuts
News  |  3/7/2013  | 
The U.S. health insurance industry is escalating its lobbying battle against a proposed Medicare Advantage pay cut to insurers by launching a television and online advertising campaign to garner public support among the program's 14 million beneficiaries.

Survey: Which Technologies Are Insureds Most Willing to Adopt for Lower Premium?
Commentary  |  3/7/2013  | 
According to a CarInsurance.com survey, one technology is far more likely to be adopted than telematics boxes or mobile phone blockers.
SAP Acquires Insurance Product Development Engine Camilion
News  |  3/7/2013  | 
SAP says the value added to its insurance software portfolio is in providing an end-to-end suite backed by its in-memory computing capabilities.
AXA Equitable Promotes Agarwal to Head of Life Insurance Unit
News  |  3/6/2013  | 
Manish Agarwal, as head of financial protection, will lead business management, operations and more for the company's life insurance business.
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