Content posted in December 2011
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My Top 4 Topics for 2012
Every once in a while, we journalists are lucky enough to cultivate passion for a subject that our audience wants to read about. Following are some items I heard discussed throughout the industry in 2011 that I'm excited to revisit in 2012.
3 Ways Insurers Will Compete on Data in 2012
Insurance has always been driven by data, and advances in the circulation and analysis of data will start showing their potential to change the industry by leaps and bounds.
Allstate Files $6.3 Million Fraud Suit in N.Y.
This is the seventh suit the P&C carrier filed in New York this year.
Cigna Tech Exec John Defeo Drives Infrastructure Transformation
Supporting Cigna's new "individual-centric" business strategy, Defeo's organization's transformation program will reinforce infrastructure supporting customer-facing applications, deploy private cloud technology, reengineer core processes and recast the insurer's global network.
Can Regulation Kick-Start Insurance Innovation?
Usage-based insurance in the UK was thought to be a failed experiment until a ban on gender-based underwriting revived interest. How else can insurers use regulation to spur new technology initiatives?
5 Steps to a Single Customer View
While there are many benefits to creating a single customer view, several barriers exist in today’s business environment. Insurers need to employ techniques that improve the ability to merge and remove duplicates.
Bring-Your-Own-Device a Reality for Large Financial Institutions
Good Technology research shows financial institutions, including insurance, well ahead of other sectors in terms of bring-your-own-device policy adoption and supporting those employees who choose to do so.
Progressive Ponders Portal Password Problem
As the debate whether agent portals or agency management systems are the most convenient way for agents to write business rages, Progressive's Jim DeVito discusses how he's working on a related issue: the alphabet soup of portal passwords.
Drawing the Line Between Fraud and Abuse in PIP Claims
Many organizations who focus exclusively on hard fraud may be hampering their proactive detection capabilities.
RLI Moves CIO to Underwriting Post
Carol Denzer, who began her career at the company as a reinsurance accountant, moves back to the business side.
4 Reasons 2011 Was a Unique Year for Catastrophe Events
CoreLogic research provides context to the raw numbers. A company executive tells Insurance & Technology what it means for carriers.
Earthquake Perspective on the Anniversary of the New Madrid Quakes
Bearing in mind RMS's estimates of the potential damage caused by a 6.0 quake at the New Madrid zone, it's chilling to think what a much bigger quake would mean.
Do Agents Really Prefer Portals?
Novarica research we blogged yesterday indicates that agents prefer using carrier portals to their own agency management systems. But we received dissenting opinions immediately.
Aflac Selects Hara System for Energy Management and Sustainability
Aflac will consolidate energy and emissions data into what the vendor describes as a comprehensive system of record for improved transparency, insight and enhanced sustainability.
Aviva Risk Management Solutions Pilots Tablet-Based Risk Assessment App
The SOLAR PlayBook App enables Aviva's 120 risk advisers to process technical risk information about commercial premises on site using pre-loaded Blackberry PlayBooks.
Agents Prefer Carrier Portals to Their Own Agency Management Systems Says Novarica
Agency staff preference varies according to role, but producers value ease-of-use above all.
Gain Big Savings from Big Vendors
As insurers undertake much-needed modernization efforts, they must optimize investments in their largest vendors to avoid the pitfalls of overspending.
Torus Announces Intention to Enter U.S. Surety Market with Acquisition
The specialty insurer has acquired First Sealord Surety.
Insurers Have an Opportunity to Differentiate Through Greater Transparency
Individual carriers can benefit by better explaining their comparative advantage, and the whole industry will gain from better explanation of how insurance works.
Redefining the Insurance Leadership Challenge: I&T’s 2011 Executive Summit Report
Insurance & Technology’s 2011 Executive Summit explored new (and not-so-new) strategies for driving growth and optimizing resources.
Insurance 2012 IT Spending Projections Indicate Exuberance -- and Caution
Insurance IT investment projections indicate that budgets will be bigger, but spending will be devoted both to the 'old' (core systems) and to the 'new' (customer experience, mobile, etc.).
Accenture's Insurance Technology Trends for 2012, Part II
John Del Santo, managing director of Accenture's global insurance practice discusses four technology trends for 2012: "reflexive" IT security, a risk-based approach to data privacy, social media platforms to drive customer interaction, and a focus on user experience.
Federal Insurance Office Modernization Conference Anticipates Report Due January
The first ever meeting presided over by a federal officer charged with insurance regulation rehearsed themes likely to be touched on in a report mandated by Dodd-Frank.
The Hartford Enters Usage-Based Insurance Fray
TrueLane will roll out at the beginning of 2012, the company announced in a presentation to investors.
Mythbusters Cannonball Accident: Insurance Risk Mitigation Failure?
Mythbusters sent a 30-pound cannonball into a residential neighborhood, destroying property but, happily, not killing anybody.
The Hartford Selects Accenture for Financial Systems Transformation Consulting
As part of the extension of an existing relationship, Accenture will help the insurer with technology selection and process standardization.
Site Maintenance at 11 AM Thursday? You've Gotta be Kidding
My attempts to log into an insurer's website were rebuffed — and the site isn't even that well designed anyway.
Accenture's Insurance Technology Trends for 2012, Part I
John Del Santo, managing director of Accenture's global insurance practice discusses four of eight technology trends for 2012: data as a platform, analytics for insight and efficiency, cloud computing for adding value, and service-centric rather than server-centric architecture.
Columbus Life Selects iGo
The iPipeline system will automate and streamline business for producers.
Country Financial Picks New Policy System
Adaptik's PolicyWriter Suite will power the carrier's personal lines business.
The Real ROI in Customer Experience
Research shows insurance customers willing to pay more to stay with a company they like.
McCamish, Pegasystems Embark on Strategic Alliance
Pega's technology will enhance McCamish's VPAS life and annuity platform and its VPAS Benefit Plan Administration solution.
American Fidelity Picks Wolters Kluwer Compliance Software
WK's NILS INsource and NILS INcompass offerings will help the health insurer manage a bevy of new regulations.
Insurance Companies Rising Tech Budgets Consume Legacy Systems
Insurers will increase their IT budgets in 2012, with an eye toward replacing legacy systems once and for all, Insurance & Technology research indicates.
Catastrophe Claims: Hard Lessons From Brutal 2011
Insurers learned some hard lessons from a brutal catastrophe season that are shaping current best practices in claims response.
11 Burning Insurance Industry Questions That Will Be Answered in 2012
Insurance companies enter the new year facing many questions about regulation, technology trends and more. Not all of the answers will emerge this year, but I&T provides clarity on some of the most pressing unknowns.
Insurance Companies Embrace Emerging Technologies to Support a Customer-Oriented Business Model
Members of Insurance & Technology's Reader Advisory Board report that they are embracing newer technologies -- including next-generation analytics and the cloud -- to drive a customer-oriented operational paradigm.
4 Ways to Ruin the Insurance Customer Experience
Carriers talk a good game about customer experience, yet a great insurance customer experience remains elusive. But there's no need to suffer through trial and error. Here are the four most important mistakes carriers must avoid in order to keep their customers happy.
Not Everyone is Happy with Hardening P&C Market
Higher premiums are needed after a big year for losses, but consumers are going to push back.
What Do ACOs Have to Do With Tech, Anyway?
Insurers' data will be central to developing the ideal accountable care organization as outlined by the healthcare reform bill.
Humana's Next Gamification Platform: Xbox Kinect
The health insurer has never been shy about leveraging new technologies for gamification, and finds synergy with Microsoft's active platform.
New Allianz Life CIO Jeff Palm Seeks to Improve IT's Value Proposition
New CIO Jeff Palm will look to deliver business value as he leads Allianz Life's policy admin system replacement and shapes the company's IT organization for the future.
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