News & Commentary
Content posted in July 2012
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L.A. Care Health Plan to Implement TriZetto Admin Platform
News  |  7/31/2012  | 
The health plan will use the vendor's core administration platform, care management system, constituent web applications and application management services.
North Star Mutual Selects iPartners BI
News  |  7/31/2012  | 
The business intelligence platform will be delivered via a software-as-a-service model.
Wolters Kluwer Offers Document Service to Insurers for First Time
News  |  7/31/2012  | 
The company's SDX Secure Document Exchange, an electronic delivery and signature platform, is now available to U.S. insurers.
Aetna Profit Beats Estimates; Full-Year Forecast Raised
News  |  7/31/2012  | 
Aetna Inc, the third-largest U.S. health insurer, posted a 15 percent drop in quarterly earnings on Tuesday as expenses rose, but the results were still higher than analysts had expected.
Outsourcing Helps Starr Companies to Expand Into New Markets While Boosting Product Lines
News  |  7/30/2012  | 
Starr Companies uses workers’ comp BPO solution to increase speed to market and cut costs.
10 Steps to Outsourcing Success for Insurers
News  |  7/30/2012  | 
Outsourcing has become increasingly complex, with more options, more potential benefits and also new kinds of risks. What do insurers need to do to make sure their outsourcing arrangements are successful?
Is There Still a Need for Policy Administration in Insurance?
News  |  7/30/2012  | 
Policy administration system replacement remains key for some insurers, but others find they don't depend on these applications to do as much as in the past. Is this the wave of the future?
Allianz Life Names Emily Reitan Senior Director of Strategy and Business Development
News  |  7/30/2012  | 
Reitan will be responsible for Allianz Life's market and business development and will work with key company leaders and report to Nancy Jones, the company's chief marketing officer.
GAINSCO Chief Claims Officer Expects Mitchell Tool to Improve Customer Experience
News  |  7/30/2012  | 
Accurate valuation of cars is important in speedy, accurate resolution of claims, says Greg Castleman.
Erie Names Former Hartford Exec CIO
News  |  7/30/2012  | 
Robert Ingram has also held top tech positions at Safeco and USAA.
Prudential Individual Life Names Caroline Feeney Head of Agency Distribution
News  |  7/27/2012  | 
Feeney will be responsible for the company's career distribution system for insurance and investment products in the United States.
Cover-All Business Intelligence Enabled for iPad
News  |  7/27/2012  | 
Available at the iTunes store, Cover-All Business Intelligence currently includes 160 measures viewable across 96 dimensions and can be operational in less than three months, the vendor asserts.
Simplicity and Practical Design Delivers the Ideal PAS User Experience
Commentary  |  7/27/2012  | 
Reflecting on the 50th Anniversary of the first insurance policy admin system, Chris Doggett asserts that today’s solutions have created a user interface that often decreases productivity, increases the amount of training needed, and complicates customer service interaction.
5 Customer Experience Concepts Insurers Can Learn from Yahoo’s New CEO
Slideshows  |  7/26/2012  | 
Just because the background of Yahoo’s high-profile new CEO, former Google executive Marissa Mayer, is in engineering doesn’t mean she doesn’t have some valuable insights about customer experience and engagement. As insurers grapple with these concepts, it could be helpful to review these insights from the woman who is charged with putting them into practice at long-struggling Yahoo.
State Farm Was There: Making Friends on I-287
Commentary  |  7/26/2012  | 
The insurer's public/private partnership with the New Jersey Department of Transportation associates the State Farm brand with services that address risks faced by the general public.
U.S. Drought Worsens Despite Rains in Midwest
News  |  7/26/2012  | 
The most extensive drought in five decades intensified this week across the U.S. Midwest and Plains states that produce most of the county's corn, soybeans and livestock, a report from climate experts showed on Thursday.
Mark Stergio Named CEO of Risk Sciences Group
News  |  7/26/2012  | 
Mark Stergio named CEO of Risk Sciences Group; longtime insurance tech exec will lead strategy focused on helping clients control the costs of risk.
Allstate Crowdsources to Test Usage-Based Insurance Product
News  |  7/25/2012  | 
Allstate crowdsources to test usage-based insurance product; employee, agency owner testing of Drive Wise product will provide telematics feedback about driving habits.
Americans Less Fearful Than Most About Retirement Savings
News  |  7/25/2012  | 
A global survey has found that most people around the world are worried about their financial health after retirement, but that Americans are the least pessimistic.
Kentucky Farm Bureau Selects Guidewire Billing Solution
News  |  7/25/2012  | 
The Louisville-based P&C carrier will make its first deployment of Guidewire BillingCenter in personal lines auto.
6 Questions Insurers Should Ask Before a Policy Transformation
News  |  7/24/2012  | 
Insurers are developing different strategies for policy system transformation. Regardless of approach, the odds of success will be improved by answering six core questions, suggests PwC's Imran Ilyas.
Keep It Simple, Insurers
Commentary  |  7/24/2012  | 
Policy administration modernization and replacement projects traditionally have been among the most costly, complex and risky initiatives insurance IT organizations oversee. There's got to be a better way, and an increasing number of insurers are looking for alternatives.
Life Insurers' 6 Keys to Strategic Cost Reduction
Commentary  |  7/24/2012  | 
Many life insurers have already undertaken targeted cost-reduction initiatives, but Accenture identifies six areas where many companies can still achieve major cost reduction while improving the strength and flexibility of their product offering.
The Hartford Names Beth Bombara to Head Life Runoff Business
News  |  7/24/2012  | 
Bombara will oversee reduction of the size of The Hartford's legacy annuity business, which CEO Liam McGee identifies as an important feature of the company's overall strategic plan to focus on P&C, group benefits and mutual funds.
CNO Names New EVP, Chief Operations and Technology Officer
News  |  7/24/2012  | 
CNO names Bruce Baude EVP, Chief Operations and Technology Officer.
21st Century Outsourcing: New Drivers, New Options, New Challenges
News  |  7/23/2012  | 
Outsourcing offers more than cost-savings benefits to insurance companies. Increasingly it’s a strategy for increasing flexibility and agility and fostering growth by facilitating entrance into new markets and development of new products.
Universal Group Upgrading to New Cover-All Policy Platform for Commercial Lines Underwriting and Rating
News  |  7/23/2012  | 
Universal Group upgrading to New Cover-All policy platform for commercial lines underwriting and rating; San Juan-based P&C carrier aims for improved efficiency and growth.
MD Insurance Services Taps Sapiens IDIT Software Suite
News  |  7/23/2012  | 
MDIS will use the Sapiens suite as its new policy admin system for fast deployment of building warranty insurance products, backed by a customer-centric management system.
IWIF Selects FirstBest Underwriting System and Agent Portal
News  |  7/23/2012  | 
The Injured Workers' Insurance Fund aims to increase underwriter profitability and agent ease-of-doing-business.
Insurers See Clouds on the Horizon
News  |  7/23/2012  | 
Cloud computing, SaaS and hosted solutions are expanding insurers’ outsourcing options and promise to help companies be more agile, competitive and cost-effective.
Why Big Is Bad When It Comes To Data
Commentary  |  7/20/2012  | 
Calling it "big data" doesn't do it justice. Gushing data would be far more accurate.
CSC Launches Unclaimed Life Insurance/Annuity Software
News  |  7/20/2012  | 
The company's new business process offering uses the Social Security Death Master File to help insurers find potential beneficiaries.
The Republic Group Appoints New Chief Underwriting Officer
News  |  7/20/2012  | 
Former QBE Regional Insurance SVP Thomas M. Greenfield takes over the post.
Buckeye Insurance Group Makes Analytics Investment
News  |  7/19/2012  | 
The company is looking to EagleEye predictive analytics to optimize auto pricing.
Sprint Jumps Into Usage-Based Insurance Fray
News  |  7/19/2012  | 
The wireless carrier worked on a pilot program with Esurance that it is now offering to the rest of the auto insurance industry.
Integrated Policy Admin System Helps Western World Earn Distributors' Business
News  |  7/19/2012  | 
Western World Insurance taps Instec's Quicksolver, Oracle's Documaker and Vision Solutions' DoubleTake as fundamental components of its new Western World Integrated Platform (WWIP) policy admin solution.
5 Keys to Fast, Successful New Tech Deployments
Commentary  |  7/19/2012  | 
While many companies are approaching moving new technologies to market under the umbrella of pilots, the short-term characteristics of those new capabilities require a more diligent approach. By following straightforward guidelines, greater success with less pain can be achieved.
Travelers Misses Earnings Estimates on Disaster Losses
News  |  7/19/2012  | 
Travelers reported a second-quarter profit on Thursday but missed Wall Street expectations, as the insurer's catastrophe losses fell from a year ago but were still higher than historical norms.
UnitedHealth Reports Better-Than-Expected Profit
News  |  7/19/2012  | 
UnitedHealth Group Inc reported an increase of about 6 percent in quarterly profit on Thursday, beating analysts' estimates, as most of its insurance plans grew and medical claim costs remained stable.
Insurance IT Salary Survey: Job Outlook Improving
Slideshows  |  7/18/2012  | 
Even as the economy has stumbled, insurers' confidence in growth opportunities has led to shifting staffing needs and slightly higher salaries for insurance IT staff as carriers resume large-scale projects aimed at increasing efficiency and improving the customer experience, according to the 2012 InformationWeek U.S. IT Salary Survey. Check out many of the study's other revelations and view detailed charts on topics including the long-term view of insurance IT as a career and the growing gender
Teradata's Insurance Leaders on Big Data
Commentary  |  7/18/2012  | 
John Burke, VP of the financial services practice for Teradata, and his colleague Peter Hughes shared some opinions on big data yesterday at the Insurance & Technology offices.
Auto Claims Satisfaction Rebounds, J.D. Power Says
News  |  7/18/2012  | 
After a dip in the first quarter of this year, auto insurance claims satisfaction rates have rebounded to 2011 levels, the market researcher says.
Nationwide Puts Social, User-Generated Content at Backbone of Marketing Efforts
News  |  7/18/2012  | 
The company's new Join The Nation campaign features the voices of Julia Roberts on television and its policyholders online.
Cameron Mutual Insurance Extends StoneRiver Relationship to Billing, Claims
News  |  7/18/2012  | 
The P&C insurer is already in production with StoneRiver policy administration software.
6 Tips for Avoiding a Data Deluge With Real-Time Analytics Tools
News  |  7/17/2012  | 
To successfully adopt real-time business intelligence, financial firms must consider these tips.
Alfa Insurance Launches Mobile App on Kony Platform
News  |  7/17/2012  | 
Customers can now access policy information or view their auto insurance identification cards via mobile.
Conning Upgrades Modeling Platforms
News  |  7/17/2012  | 
User-friendliness was targeted in the latest upgrades to ADVISE and GEMS.
SMA Asks: What's The Best Option for Policy Document Management?
News  |  7/17/2012  | 
Point-counterpoint report concludes that insurers' specific business drivers are important in deciding which system is best to manage policy documents.
Insurers Can Solve Agent Password Complexity Through ID Federation
Commentary  |  7/16/2012  | 
Independent agents offer lots of value to consumers, but this choice comes with the complexity of managing many passwords and protocols. Here's how one group is working to change that.
Starr Companies Appoints New Chief Claims Officer
News  |  7/16/2012  | 
Jeffrey Johnson takes over the post.
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