Content posted in April 2013
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Signal to Noise: Nate Silver Offers Lesson on Controlling Big Data Complexity
Simply adding more variables can amplify meaningless feedback and add complexity. Profitable use of big data for improved pricing accuracy and enhanced customer experience will require isolating predictive factors.
Valen Analytics Launches Expanded InsureRight Platform for Enhanced Underwriting Performance
The newly rebranded vendor's InsureRight offering, now covering all lines of business, is designed to give carriers statistically valid portfolio insights that they can distribute to individual underwriters in a simple, easy-to-understand language.
Exigen Fills Gap in Group Benefits Core System Solutions Market
Celent's Chuck Johnston says its makes sense that compelling new solution offerings in the group administration space should come from property & casualty system vendors such as Exigen.
After a Decade of M&A, CFG Emerges Unified on Sapiens ALIS Policy Administration System
Along with significant efficiency and ease-of-doing-business benefits for agents, Columbian Financial Group will be able to build on its record of growth more effectively and efficiently through the operational unity afforded by its systems consolidation.
Conning/RASL Alliance Aims at Alternative Investment Strategies for Insurers
The firms have adopted a "unique" approach will provide exposure to sources of return traditionally available only to investors in hedge funds but with significantly lower fees and capital charges as well as greater transparency and liquidity.
Q&A: Republic Indemnity CIO Innovates on a Tight Budget
Rao Tadepalli, CIO of Republic Indemnity, has found ways to innovate in a resource-constrained environment, finding efficiencies through digitizing documentation and improving efficiencies through core system transformation and process reengineering.
3 Ways to Drive Sales Via Agent Social Media
Successful agents differentiate themselves by building social media best practices into their regular routine to prospect, connect, and grow their customer base — and reap the rewards of earned loyalty.
A CIO’s First 100 Days: Seven Steps to Success
New York Life’s senior managing director and chief information officer in the company’s Investments Group recommends seven stages to complete a successful first 100 days, leading to longer-term success.
A Tribute to the Courageous Tripathi Family
The brave and loving family of our friend inspires us and many others through great strength despite their terrible loss.
5 Key Findings from Celent's Insurance CIO Survey
The research firm finds IT budgets increasing and one technology getting a lot of attention.
4 Health Insurance Reform Concerns Technology Can Address
Technology will offer the healthcare industry a means to fast-track the Affordable Care Act by delivering customer-driven processes that leverage information capture and smart process technology, cloud access and mobility, making compliance affordable to insurers.
Humana's SmartVideo Personalized Statements Will Engage Customers
The insurer's use of SundaySky’s SmartVideo technology improves customer experience by rendering complex information easily intelligible.
Horace Mann Gets New CEO from The Hanover
Marita Zuraitis will leave her Hanover post next month to take over Horace Mann, which provides insurance products for educators.
Who's On The Hook for Boston Claims?
Policyholders in the blast zone may not have an easy time recouping their losses via insurance, according to the Wall Street Journal.
UK Vendor Quindell Acquires iter8 to Gain North American Foothold
Quindell will leverage iter8's significant footprint in the agent/broker technology space to gain market share in the new business technology arena during the coming year.
Erie Names The Hartford, USAA Vet IT SVP
The company chose Ruben Fechner as SVP of business applications and support.
Video: Sentry Takes Risk Management Portal Mobile
The mobile version of Sentry Insight is meant to give commercial lines customers greater access to their claims information.
ACORD Names Chief Standards Officer
Former Zurich General Insurance executive Monique Hesseling joins the industry standards group as VP and chief standards officer, a new position.
Managing Marketing's IT Spend
With so much marketing budget devoted to technological initiatives, IT needs a clear strategy to effectively manage those digital marketing dollars.
Fads Versus Reality: What's the Best Way to Boost Workforce Productivity?
There's been much debate about the best way to encourage employee productivity. Insurance & Technology's IT Resource Management Guide offers insights into this challenge and other strategies for getting the most out of staff, budget and IT partners.
What Big Data Means For Infrastructure Costs
Most insurance companies have at least one big data effort under way, if not more. The cloud can help meet those needs without breaking the bank.
The Hanover's New Billing System Adds Value for Agents, Customers
The system lets agents work with their customers to create a customized experience built on features such as combined billing options, flexible billing dates, billing plan options and mobile interaction.
Q&A: The Hanover Boosts Service, Efficiency With New Billing System
The new system will deliver value to both distributors and customers by allowing agents to shift their attention from answering questions about billing to focusing on customer relationships, according to CIO Greg Tranter.
Unirisx CEO Akhil Tripathi's Missing Son Falsely Associated with Boston Marathon Attack
Speculation on the part of a Reddit user led to erroneous assumptions that law enforcement authorities have since refuted.
Genworth Life Reduces Policy Cycle Times Nearly 70%
Genworth U.S. Life Companies reduces new policy cycle times from about 25 days to an average of eight by adopting Aplifi's multi-carrier electronic settlement platform.
5 Key Components of IT Effectiveness
To become a truly effective IT organization, it is vital to understand the customer's expectations and how you're performing according to those expectations.
Auto Claims Satisfaction Dips in Winter Months: J.D. Power
Road conditions and financial pressures sour policyholders' view of insurers, the company says.
New Chief Claims Officer at The Hartford
John Kinney now oversees the organization.
Interview: Esurance CIO McKinnon Excited by Innovation Opportunities
The former Blue Shield of California CIO says that Esurance's corporate culture and business model facilitate strong business-IT alignment.
Xuber Launches in U.S. in Response to Demand for Modern Commercial Lines Solutions
The software business of Xchanging is offering an end-to-end module-based solution built on a single data model.
New York Life Promotes Corporate Services Head to SVP
Dottie Rodd has been with the company since 1981.
Patriot National Appoints Exec to Joint Underwriting/Marketing Position
In this position, Paul Halter will work on expanding the business's footprint.
Mutual Insurers More Sensitive to Catastrophe, Process and Technology Can Bridge the Gap
Policy holders concentrated by type and geography are among the reasons mutual insurers are more susceptible to catastrophe claims challenges, but proactive measures and technology solutions can enable carriers to compensate, according to Willis Re.
Boston Marathon Bombing's Implications for Insurance
The attack introduced new risks into social life, which will ultimately affect risk management, security measures and insurance.
One in 4 Want to Close Life Insurance Sales Online: LIMRA
LIMRA's and the LIFE Foundation's latest Insurance Barometer Study provides a window into what prospects want from life insurance companies.
Blue Shield of Calif., Kony to Revamp Insurer's Mobile
The insurer says Kony will help it develop a "multichannel center of excellence."
Consider Both Costs and Benefits of Life Platform Modernization
Life insurers contemplating platform need to have a clear view of the implications, and a well-defined, realistic road map as they weigh the considerable benefits.
Allstate Introduces App for Usage-Based Insurance
The Drivewise app provides feedback based on data collected by the program's plug-in device.
MetLife CEO Pushback at SIFI is One Voice Among Many
Steven Kandarian's comments at the April 10 Capital Markets Summit harmonize with those of other carriers and industry associations in a rare case of unanimity.
3 Must-Haves for Insurance Data Quality
The increasing number of channels is hurting data quality within insurance organizations, 94% suspect their customer and prospect data might be inaccurate in some way.
Scottsdale Names New Agency Management & Business Development Head
Karen Davis has been with the company since 1990.
What Was Insurance Tech Like Before the PC?
A respondent to a Reddit thread on the pre-PC era provides a window into how billing and accounting systems were developed on punch cards.
An Insurance CIO’s 4 Top Mobile Challenges
Peter Settel, CIO of Homesite Insurance, says that HTML5 is making insurers think hard about whether a native app or mobile website experience is best for their mobile initiatives.
Technology and History Accelerate Insurers' Risk Management Evolution
Insurance chief risk officers are rising to greater prominence within their organizations as regulation and technological possibilities drive rapid evolution of risk quantification technology and techniques.
Commercial Insurers Hampered by Legacy Systems: Survey
FirstBest's survey of NAMIC Commercial Lines Conference attendees indicates that insurers are looking for the ability to underwrite risks faster.
ISO Releases Advanced Rating Kit for Auto
The bundled offering incorporates predictive modeling tools.
Esurance Launches 'What If Calculator' For Potential Premium Changes
The calculator is for informational use only, but gives policyholders a window into how certain changes might affect their premium.
Making Claims Data Actionable for Litigation Management
Implementing a consolidated litigation management solution helps insurers trim claim expense costs, streamline and automate workflows, and enforce best practices throughout the claims discipline.
Fortegra Launches New Consumer-Focused Product Line Through E-Commerce
The new division offers life, health and accident protection products.
Plymouth Rock Adds Quote Comparison to Online Sales Portal
The addition allows an independent agent to reach out to a prospect who uses the Plymouth Rock quote portal with multiple carriers' rates.
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