Insurers Turn To Alliances, Outsourcing
Insurance companies, because of market instability and increasing competitive demands, are choosing alliances, partnerships and outsourcing over traditional corporate restructuring strategiessuch as mergers and acquisitions, according to new research from Accenture.
Kirkner Joins CIGNA Group Insurance
Having aggressively supported technology as president and CEO of UnumProvident subsidiary Colonial Life & Accident Ins. Co., Gary Kirkner says he will do the same in his new role as senior vice president of CIGNA Group Insurance, sales and account management.
QCSI Takes BCBS-Montana to School
A reduction in training costs is the impetus behind Blue Cross Blue Shield of Montana's choice of Quality Care Solutions Inc.'s (QCSI, Phoenix) qUniversity solution to provide Web-based training to the carrier's employees.
Allstate Provides Banking Services Through Agencies
In it's latest stage of a nationwide roll-out that will be finished by the end of year, Allstate Bank now provides Allstate customers in Texas with more complete access to various Allstate products through local Allstate agencies.
--> E.piphany partners with IBM for CRM software suite...
--> CRM spending will reach $19.6 billion by 2005, but remain flat in 2002, according to an Aberdeen Group study...
--> ACORD and AgoraINS have launched the Life Reinsurance Transaction Implementation Pilot...
DELIVERY STRATEGIES BRIEFS
--> Regence BlueShield has launched its renovated and improved Web site...
--> Prudential P&C Insurance customers are now able to view insurance information and process transactions online...
--> A.I. Risk Specialists has selected Duck Creek Technologies...
Focus on the Customer
At mid-year, one of the most significant industry trends is segmenting your customer base and targeting them with specific products and services. Doculabs explains some of the technology implications of identifying and selling to a narrower customer base.
We asked Piyush Singh of RLI Insurance Company to list his favorite websites.
Alliances & Partnerships
Adhesion Technologies and IBM will jointly market Adhesion's EA Financial Consolidation Platform; DWL has established a strategic alliance with Nissay Information Technology Co.; Infosys has announced an alliance with Concours Group...
AXA Corporate Solutions Insurance has chosen the BEA Systems WebLogic Enterprise Platform; USAble Life has licensed Optical Image Technology's suite of electronic document management products; Transit Mutual Insurance Corp. of Wisconsin awarded a contract to Orca Software, Inc. ...
No Laughing Matter
This month's editorial "No Laughing Matter" about current business news by Katherine Burger, Editorial Director.
Better, Faster, Cheaper...But Can We Make It Safer?
Mitigating Indian Outsourcing Risks
The Challenge: How do you successfully engage in an offshore outsourcing relationship? How do you
mitigate the risk in an offshore outsourcing relationship?
By: Stephanie Moore, VP, Research Leader, Giga Information Group
TRAVELERS PROP. CAS. ADDS FEATURES TO AGENCY PORTAL
Travelers Property Casualty launched a new electronic policy view capability to complement its suite of electronic capabilities for agents, designed to help them gain greater efficiencies in daily operations.
HOW FINANCIAL INCENTIVES CAN DRIVE E-SERVICING
A growing number of insurers have begun to recognize modest success in the realm of customer service. Gomez consumer research reveals that 14 of the top 20 issuers of personal vehicle insurance now offer policyholders online functionality for viewing or performing customer service tasks.
Unitrin Selects Decision Manager To Improve Underwriting
HNC Software has been awarded a contract by Unitrin Multi Lines Insurance for its Decision Manager for Underwriting technology. Unitrin Multi Lines will use the system to analyze claims and assess underwriting risk for approximately 300,000 personal lines policyholders.
ANALYSIS: WEB SERVICES ARE COMING, READY OR NOT
As insurance companies continue to refine their Internet offerings, Web services will become a key technology to leverage tools that already have been built internally, as well as to access technologies in use by business partners.
DELIVERY STRATEGIES BRIEFS
--> New England Financial selects Biznews24's Biznews Media room...
--> CNA Life launches interactive customer Web site...
--> Benefitfocus launches its Consumer-Driven Health Plan application...
--> Selective Insurance Group plans a new 24x7 claims service center...
--> Interface Software releases InterAction 5, a new relationship intelligence system...
Web Services: Here To Stay?
With many insurance companies already dabbling with Web services development, experts estimate wide-scale adoption will occur in a few years.
Thumbs Up on Outsourcing
Ernst & Young's Doug McPhie discusses how life insurers are finding that outsourcing can increase shareholder value by cutting costs and boosting efficiency.
Executive moves and promotions around the insurance technology industry.
CIGNA Launches Interactive Benefits Site in Response to Changing Worksite Demands
Although healthcare and retirement benefit information is now widely accessible on the Internet, 80 percent of employees do not utilize available Web sites to stay up to date about their personal insurance status, according to a CIGNA survey. The findings contributed to CIGNA's decision to create its own interactive Web site, MyCIGNA.com.
OneBeacon Taps Sapiens to Support Turnaround
The next step in the turnaround of OneBeacon will be the implementation
of a Web-enabled policy administration system by Sapiens International. The solution is being built on an existing policy administration framework built by Sapiens for OneBeacon's commercial lines business.
Banks Pay Attention to HIPAA, Too
Just as insurance companies are quickly coming up to speed on
anti-money laundering requirements (previously mostly a concern of banks), the banking industry is making sure that it is ready for HIPAA.
Delivery Strategies Briefs
--> AgencyPort is selected by Tower Insurance to automate rating, quoting, binding and policy issuance...
--> Trinity Universal Insurance acquires the personal lines
property/casualty business of the Kemper Insurance companies....
--> CT Insurance Services releases its single-entry, multiple company interface for the PINnacle Xchange application...
--> Vytra Health Plans selects Softheon's Best e-Business Practice for Healthcare...
--> One Beacon Insurance expands use of the ActivePhoto Mobile Imaging Solution...
--> Edify is teaming with BenchmarkPortal...
Standards: Beyond The Rhetoric
Overview of Insurance Standards Leadership Forum, "Business Strategies for Industry Transformation," a one-day educational/networking event co-produced by Insurance & Technology and ACORD.
Getting There First
Streamlining processes and removing the programming "speed bump" can mean getting to market quicker.