News & Commentary
Content posted in May 2011
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Vertafore Updates Management System for MGAs, Wholesale Brokers
News  |  5/31/2011  | 
The enhancements included in AIM 6.4 provide flexibility and consistency in information gathering and access, the vendor claims.
Amerisure Live on MajescoMastek Billing System
News  |  5/31/2011  | 
The insurer selected the platform to support its direct and agency billing needs.
Talking Claims Innovation: Tom Clayton, HP
Commentary  |  5/31/2011  | 
A competitive claims experience requires clear, accurate and timely customer communications - an elusive goal for insurers bound by aging legacy systems.
Talking Claims Innovation: John Gilmartin, Mitchell International
Commentary  |  5/27/2011  | 
Gilmartin recommends that carriers implement modern document management systems, predictive models, and data warehouses.
CAST Releases Cloud-Based Software Analysis System
News  |  5/27/2011  | 
CAST Highlight scans enterprise applications to find potential risks.
Private Equity Firm Thomas H. Lee Partners to Acquire Sword Insurance
News  |  5/27/2011  | 
Private equity firm Thomas H. Lee Partners to acquire Sword Insurance; investment seen as helping vendor achieve goal of becoming a "top-five" global tech vendor to the P&C.
Amica Life Selects StoneRiver Underwriting Platform
News  |  5/26/2011  | 
LifeSuite features a rules-based, configurable engine, the companies say.
Gauging the Core Systems Modernization Opportunity at ACORD LOMA
Commentary  |  5/26/2011  | 
The demonstrated maturity of newer core systems is reshaping the risk/reward ratio of modern systems, as vendors' shifting rhetoric reveals.
AXA Equitable Promotes CIO Healy to EVP
News  |  5/25/2011  | 
He was named SVP and CIO last November.
Polaris Launches Cloud-Ready Platform for Insurance Sector
News  |  5/25/2011  | 
Polaris launches cloud-ready platform for insurance sector; offers more than 70 business services to improve business agility, plus lower run and change costs.
Pitney Bowes Business Insight Unveils Flood Risk Pro with Comprehensive U.S. Flood Risk Data
News  |  5/25/2011  | 
Pitney Bowes Business Insight unveils Flood Risk Pro with comprehensive U.S. Flood Risk Data; leverages geospatial data to enable the National Flood Insurance Program and Excess Flood coverage insurers to build more current flood risk information into their underwriting processes.
American Farmers and Ranchers Adopts Innovation Group's Managed Repair Network
News  |  5/25/2011  | 
The managed repair network exemplifies Innovation Group's strategy to provide software and services that can help tier 2 and tier 3 P&C companies to compete with large national insurers.
Duck Creek Releases Product Studio
News  |  5/24/2011  | 
Working in tandem with the vendor’s product definition tool, EXAMPLE Author, Product Studio will more radically reduce the time, cost, and effort it takes to respond to market opportunities and changes, Duck Creek claims.
Dongbu Insurance Builds ERM System with SAS
News  |  5/24/2011  | 
The Korean non-life ensurer aims to strengthen its risk management capabilities in light of the demands of Solvency II and other regulation.
La Nina to Blame for Active Tornado Season?
Commentary  |  5/24/2011  | 
The record-breaking year for tornadoes has many people searching for answers.
LexisNexis Insurance Enterprise View Addresses Data Integration Challenges
News  |  5/24/2011  | 
Modular solution integrates data from multiple sources.
CSC Unveils Role-Based Mobile Insurance Applications
News  |  5/24/2011  | 
2Work Apps for Tablets address needs of claims adjusters, brokers and agents.
Innovation Group Re-Architects Innovation Insurer Suite, Introduces New Business Model
News  |  5/23/2011  | 
The vendor celebrates the ease of use of the redesigned platform.
Penn Mutual Selects Thunderhead for Customer Experience Initiative
News  |  5/23/2011  | 
The carrier will use ThunderheadNOW to streamline workflow processes.
FIS Launches ALIS Mobile Policy Administration Application
News  |  5/23/2011  | 
The fully integrated mobile application provides financial advisers and policy holders with real-time, platform-agnostic access to application status, account balances, commission payments and transaction processing on all versions of FIS's ALIS policy administration system.
Mobile Capabilities No Longer "Bleeding Edge" in Insurance
News  |  5/23/2011  | 
Several ACORD LOMA Insurance Systems Forum exhibitors, including L&T Infotech, Millbrook and Sword, announced new mobile solutions or initiatives.
SeaPass Enables CNA's Next-Gen Agency Integration
News  |  5/23/2011  | 
Seeking to offer the greatest ease-of-doing business in the small business insurance market, CNA has implemented capabilities to both improve traditional agency management upload and to ACORD XML bi-directional integration.
How Can Insurers Get the Most Value from Their Policy Admin Systems Investments?
Commentary  |  5/23/2011  | 
SMA and I&T want to know how insurance companies are making decisions about PAS upgrades -- and if those investments are paying off.
Irish P&C Carrier FBD Goes Live on FINEOS Claims
News  |  5/20/2011  | 
FBD chose FINEOS Claims to enable the large Irish carrier manage its claims more effectively and efficiently, and also assist in identifying fraudulent activity more easily.
Regulatory Change Management: A Considerable Challenge
Commentary  |  5/20/2011  | 
The management challenges required to achieve compliance can be daunting, but technology can be an enabler.
Roundup: Losses from April U.S. Storms
News  |  5/20/2011  | 
Some insurers have released estimates of the costs they expect to incur from claims related to the tornado outbreak.
Allianz Suisse Awards $1.8m Contract to Sapiens for Pension System Upgrade
News  |  5/19/2011  | 
Allianz Suisse expects the upgrade to help the company develop better customer service and an improved user experience while reducing overall operational costs.
Agents Shouldn't Fear Allstate's Esurance Buy
Commentary  |  5/19/2011  | 
Making a move toward direct sales isn't about cannibalizing existing customers.
Indemnity Insurance Selects 4Sight BI Product
News  |  5/19/2011  | 
The Maryland-based spectator liability insurer sought ad-hoc reporting and quick access to reports and dashbords.
DST Systems Expands Insurance Offerings with SaaS and BPO Policy Admin-Related Services
News  |  5/18/2011  | 
DST Systems expands insurance offerings with SaaS and BPO policy admin-related services; Bonnie Wasgatt to head DST Insurance Solutions, wholly owned subsidiary created to support growth opportunities for annuity and life insurance carriers.
Is Allstate Making an Innovation Play by Buying Esurance?
News  |  5/18/2011  | 
Aite Group's Stephen Applebaum suggests that by buying Esurance, Allstate could jumpstart its innovation culture, better positioning it for the future.
Allstate to Acquire Esurance for about $1 Billion
News  |  5/18/2011  | 
The transaction has been approved by both companies' boards of directors and is expected to close in fall 2011.
Sagging Economy Will Drive Insurers' Increased Adoption of BPO
Commentary  |  5/17/2011  | 
Growth of a "new normal" business environment driven by the economic downturn will reverse a trend of slow BPO growth.
Unitrin Division IMingle Releases IPhone App
News  |  5/17/2011  | 
The auto insurance app is based on DRC's DecisionMaker mobile framework, an expansion of an existing relationship at the corporate level.
Erie Insurance Integrates iPipeline's iGO e-App with Illustration Solution
News  |  5/17/2011  | 
Erie's independent agents will be able to transfer data from illustrations directly into the vendor's iGO e-App intelligent fillable form to power what the vendor calls an integrated user experience.
State Farm's Alternate Approach to Usage-Based Insurance
News  |  5/16/2011  | 
The company is leveraging built-in telematics systems rather than developing its own device.
Clearing Compliance Reporting Hurdles
Commentary  |  5/12/2011  | 
Planning for increasingly complex state reporting requirements is a burden, and setting up a system to respond to requirements is difficult, time-consuming, and costly. insurers need a reliable reporting, tracking, and error-correction system.
Navy Mutual Aid Association Selects Accenture
News  |  5/12/2011  | 
The insurer will license and implement policy admin software for its life and annuities lines.
AXA, Morningstar Team for Web Application for Advisors
News  |  5/12/2011  | 
The companies have developed the Cornerstone Allocator to help financial professionals identify the best distribution of annuity assets.
Towers Watson Updates Life Modeling Suite
News  |  5/11/2011  | 
The software helps insurers better meet regulatory, rating agency and competitive challenges, the company asserts.
Insurance Industry Thought Leaders Speculate on Innovation through 2020
News  |  5/10/2011  | 
What innovations will transform the insurance industry over the next 10 years? According to industry experts, technologies that debuted in the 2000s will mature during the next decade, driving ubiquitous computing, increasing use of analytics and new levels of collaboration.
How to Protect Your Intellectual Property
News  |  5/10/2011  | 
Financial services firms build their businesses on innovation. But protecting those advances is harder than you think.
Demystifying Innovation
News  |  5/10/2011  | 
A new book defines four types of innovation and argues that by matching the appropriate type with a company's culture and leadership, the risks of innovation can be reduced.
The Top 10 Innovators of the Decade
News  |  5/10/2011  | 
Meet the woman behind Aflac's famous duck, the CIO of the very first virtual insurance company and the man often credited as the inventor of blogging. Insurance & Technology presents 10 individuals whose ideas have helped bring the industry into the 21st Century.
Risk Modelers: Don't Worry Too Much About Early Hurricane Predictions
Commentary  |  5/10/2011  | 
What does it mean when forecasts are so specific in assumptions that storms will hit the U.S. coast?
AMI Selects Exigen for Policy Administration, Billing, Claims
News  |  5/10/2011  | 
The New Zealand-based carrier will implement the Exigen systems for all lines of business.
Consumer Comfort, Less Costly Technology and Better Pricing Models Lead Stronger Push Toward Pay-As-You-Drive
News  |  5/9/2011  | 
Though insurers have approached the concept carefully over the past decade, companies including Progressive and Allstate are broadening their promotion of usage-based auto coverage.
Colonial Life Benefits Launches Personalized Interactive Benefits Education Tool
News  |  5/9/2011  | 
Colonial Life's "Youville" feature of its Benefits Learning Center aims at providing an entertaining way for employees to learn about their benefits.
Lincoln Financial Restructures Insurance Unit
News  |  5/6/2011  | 
The new arrangement simplifies the structure of the business and increases the responsibilities of the senior leaders, the company says.
Q&A: State Farm Enables Agent/Customer Social Networking with Hearsay Social
News  |  5/5/2011  | 
State Farm talks with Insurance & Technology about the insurer's adoption of social media management tools and processes.
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