Content posted in August 2009
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Farmers Dispatches Vehicles, Claims Personnel to California Wildfires
The insurer has dispatched two customer care vehicles and claims staff from around California to the fires, which have claimed the lives of two firefighters and threaten thousands of homes.
Hurricane Jimena Strengthened to Category 4 Storm
Hurricane Jimena is forecast to make landfall within the next two days.
Conseco To Consolidate Insurance Subsidiaries
Conseco has announced a plan to consolidate three insurance companies within its Conseco Insurance Group segment.
Ravello MedMal Policy Admin System Goes Live at Missouri Professionals Mutual
Full production of Ravello's CoverageQuick suite follows MPM's early March launch of Ravello claims within 60 days of product selection, announced Feb. 2, 2009.
EQECAT Releases WORLDCATenterprise 3.13
Improvements to WORLDCATenterprise are based on new science and data, as well as other relevant information about North Atlantic hurricanes, European floods and earthquakes, particularly in the Himalayan Frontal Thrust region and South America, according to the vendor.
Health Insurance Practice Launched by Financial Services Analyst and Research Firm Aite Group
Health Insurance practice lby financial services analyst and research firm Aite Group; Kunal Pandya will head new practice focused on IT, regulatory and business issues affecting Health Insurance and Healthcare sectors.
What a Difference a CEO Makes: Benmosche's Impact on AIG - So Far (Audio)
Timing is everything -- a truism illustrated by the generally positive reception the business/media worlds have given Robert Benmosche in the few weeks since he assumed the role of chief executive officer of AIG.
Honor Roll: This Week's Top Insurance Blogs (Aug. 23-29)
Our favorite insurance technology-related blog posts from around the Web (August 23-August 29, 2009):
Berkshire Homestate Hits Phase II of Duck Creek PAS Rollout, Adds Vendor’s Billing Solution
The current stage of BHHC's Duck Creek-centered technology modernization effort will enable the carrier to issue an array of commercial insurance products, including auto, property and general liability.
Ted Kennedy and Health Insurance: A Nearly 40-Year Battle (Video)
The death earlier this week of Senator Edward M. Kennedy seems to have changed the terms of the debate over healthcare and health insurance reform, although not in the sense of changing the respective pros and cons of the current proposals, or in the cost analysis.
Permanent General Implements Top Layer Network Security Solution
Top Layer's IPS 5500 intrusion prevention suite is providing the group of auto insurance companies the ability to effectively block malicious network traffic while handling greater volume and maintaining network availability.
Western Agricultural Insurance Launches Direct Auto Insurance Web Site
Acting on a consumer survey, the carrier created its new ProtectantDirect.com distribution channel, which includes information on "green" driving and offers discounts for hybrid vehicles.
Liberty Mutual Agency Markets Offers GPS-Powered Onboard Advisor for Fleet Customers
The Onboard Advisor fleet management application combines GE Security's NavLogix GPS technology with data from an accelerometer to provide information on how a vehicle is responding to its driver.
Allstate Rolls Out Next Gen Self-Service
Allstate Insurance Company has launched Next Gen Self-Service, a set of online tools that allow customers and agents to access information and perform claims tasks.
Camilion Incorporates Pitney Bowes Location Intelligence Into Authority Suite Policy Admin Solution
The Pitney Bowes Business Insight location intelligence will give Authority Suite customers visual mapping capabilities, enabling new insights into the marketplace, minimizing risk and improving strategic decision-making capabilities, Camilion claims.
65,000 Apps and Counting: Legacy System Nightmare or Brilliant IT Strategy?
While 65,000 apps per company isn't the right goal, small and nimble is. Before embarking on a giant, lumbering technology initiative for your giant, lumbering insurance company, think carefully about isolating and attacking the key areas of opportunity with laser-focused mini-apps. While their footprint may be small, their impact on your business can be unmistakable.
New York Life Names Nancy Davenport VP of Governmental Affairs
Davenport's experience includes regulatory advocacy roles at JPMorgan Chase and the American Council of Life Insurers, as well as roles in the New York State Legislature.
American Safety Insurance Taps Duck Creek Rating Solution
The carrier's effort to drive streamlined processes, greater speed-to-market and broker access through the Duck Creek platform will begin in its environmental liability line of business.
It’s Time to Be Critical of Conditions
From wasteful testing to the risk of mistakes, for those who have spent time in a hospital recently, the need for e-records couldn't be more clear.
NaviNet Unveils Health Information Exchange
NaviNet has announced the NaviNet Health Information Exchange for healthcare providers and insurers to exchange information in real-time.
CSC’s Social Network Reaching Critical Mass
CSC carrier clients are embracing WikonnecT, the vendor's business-to-business social network, as a way to collaborate with one another to solve IT issues.
Prudential Annuities Debuts Consumer-Focused Web Site
The site features an educational video, simple navigation, and consumer-friendly language about Prudential Annuities Highest Daily Lifetime 6 Plus optional living benefit.
FICO Releases Insurance Fraud Manager 3, Healthcare Edition
FICO IFM 3's predictive analytics-driven capabilities give insurers more power to detect fraud before payment, avoiding the "pay-and-chase" approach that many insurers take in order to remain compliant, according to the vendor.
Honor Roll: This Week's Top Insurance Blogs (Aug. 16-22)
Our favorite insurance technology-related blog posts from around the Web (August 16-22, 2009):
Independence Blue Cross' Operational Control Center Takes a Customer's View of Operational Monitoring
The proactive approach of IBC'S Operational Control Center anticipates customer use issues while providing diagnostic insight to the carrier's technology architects.
Zurich Launches Customer/Distributor Microsite for Wind Event Information
The Zurich HelpPoint Wind site will provide a collection of information resources before, during and after wind events, including hurricanes, tornadoes and other windstorms.
Hurricane Bill Brings Coastal Flooding to Dominican Republic, Bermuda
Hurricane Bill, which may become a Category Four storm again briefly today, is predicted to drop two to six inches of rain on Bermuda before before weakening to a Category One storm approaching the Canadian Maritime coast.
IT Investments Can Focus Actuaries on Interpreting Rather Than Collecting Information
Insurance IT organizations can be actuaries allies in streamlining their tasks, simplifying actuarial systems and integrating actuarial data into a carrier's enterprise risk management capabilities.
ERM Strategies Enable Insurers’ to Play Stronger Offense as Well as Defense
The adoption of genuine enterprise risk management (ERM) culture, methodology and technology capabilities is improving insurers' ability to pursue offensive strategies, including pricing products more effectively.
HEMIC Deploys Valen Predictive Analytics Solution
Hawaii Employers' Mutual Insurance has gone live on Valen's UnderRight underwriting solution in the carrier's workers' compensation business.
Guardian Introduces Online Self-Enrollment
The Guardian Life Insurance Company of America has rolled out a new service designed to simplify the selection of employee benefits and improve the overall enrollment experience.
IFRS May Not Be the Most Immediate Accounting Change
While the International Financial Reporting Standards for insurers still are being worked out, other accounting standards changes could have a more immediate impact on the industry.
Adoption of IFRS Provides Benefits to Insurers
The International Financial Reporting Standards offer insurers the potential to simplify financial reporting and reduce accounting complexity.
International Financial Reporting Standards Offer Insurers Opportunities for Operational Synergies
The implementation of IFRS could result in cost-saving synergies in data, metrics and modeling. But up-front investments in data, systems and human resources will be required to realize those synergies.
Compliance With New IFRS Rules Will Hog IT Resources
Though implementing International Financial Reporting Standards may help level the global insurance playing field, it also will limit the ability of the IT department to react to other business needs.
Virtual Roundtable: Insurers Brace for New Financial Reporting Standards
The new International Financial Reporting Standards (IFRS) promote transparency in the public's best interest. But what will be required from an IT standpoint for insurers to comply with the IFRS?
IFRS Standards for Insurance Still Under Development
While the new International Financial Reporting Standards will impact insurers' IT systems, the IASB is still developing specific accounting standards for the insurance industry.
Hurricane Bill Now Category 4, Expected to Miss U.S., Bermuda
Latest forecasts indicate that neither the U.S. or Bermuda likely to be affected by Hurricane Bill, though Nova Scotia could feel the effects of the storm early next week, according to some scenarios.
SPSS Releases New Version of PASW Statistics
SPSS has launched PASW Statistics 18, featuring the new Direct Marketing module.
Old Mutual Awards Perot Systems Five-Year Contract Extension
Old Mutual awards Perot Systems five-year contract extension; carrier will continue to receive IT and administrative services until 2014.
The Dominion Licenses OneShield Dragon for Policy Management
The Dominion licenses OneShield Dragon for policy management; multi-year initiative will cover all product lines.
Esurance Migrates to Kaplan’s CMS G2
Esurance has licensed Kaplan Compliance Solutions' Compliance Management System Generation 2 product.
Conseco Drives Call Center Quality With NICE Suite
Using a suite of NICE products -- including workforce management, call analytics and call recording applications -- Conseco has built on technical improvements in its call centers to drive a culture of quality.
Stronger Hurricane Bill Likely to Miss U.S.
Now a Category Two hurricane, Bill is expected to veer northward within the next couple of days, away from the U.S. coast but could impact Bermuda.
James J. Wrynn Named New York State Superintendent of Insurance
As Superintendent of the nationally influential New York State Department of Insurance, Wrynn will face challenges associated with consumer concerns and economic pressures on the industry, as well as the unresolved role the federal government will play in insurance regulation.
Warming Atlantic Delivers Three Tropical Cyclones, First Hurricane of the Season
Tropical Storm Bill is predicted to become a major hurricane between 48 and 60 hours, as it moves to the northwest from a position east of the Lesser Antilles.
Pyxis Mobile, Enterprise Mobile Partner to Deliver Multiplatform Enterprise Mobility Solution
The solution will combine Pyxis Mobile's Configure Once, Run Anywhere capabilities and Enterprise Mobile's mobility outsourced life cycle deployment and on-going management services.
Willis to Adopt Applied Systems Epic As Its Primary Tech Platform
Willis to adopt Applied Systems Epic as its primary technology platform; new agency management system expected to enhance client servicing and efficiency.
Australian Insurance Industry Adopts ACORD Messaging Library
The first standardized AML message being implemented will be for professional indemnity content that includes quote, bind and close transactions for new business.
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