Content posted in November 2009
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ProMutual Group Launches New Web-based CMEs
Medical liability insurer ProMutual Group has added two new continuing medical education (CME) activities to its Web site.
AIG, Greenberg and Smith Resolve Disputes
Under the terms of the settlement, the parties have agreed to release each other from all claims, including any claims by Greenberg and Smith against AIG for indemnification of future legal fees and expenses or settlement costs.
Genworth Financial's European Operations Complete Migration to Single IT Platform
The pan-European consolidation initiative involved migrating 15 million client policies, billing and claims data amounting to 2 billion rows or three terabytes of data from five separate systems to a single TIA Technology policy administration system.
What ING's Insurance Divestment Means to the Bancassurance Model
With ING forced to divest its insurance operations, the long-term viability of the bancassurance model has come under question.
Saskatchewan Workers' Comp Board Implements FINEOS Claims System
The implementation of the FINEOS claims system will help WCB reduce the number of supported technologies, as well as positioning WCB's technology infrastructure to improve the electronic exchange of information with employers, care-givers and other third parties.
Novarica: More Insurance Software M&A in 2010
Renewed M&A activity in the insurance software space in the latter half of 2009 presages a plethora of deals in the coming year, according to a new report by the New York-based research and advisory firm.
UK's Equitable Life Signs HCL for $200m Engagement
HCL will provide an end-to-end solution, including policy administration, financial, actuarial services, IT operational support and call center services.
Unirisx and IDP Form Strategic Alliance To Create Unirisx Integrated Solution
Unirisx and IDP form strategic alliance to create Unirisx Integrated Solution. Combined technology features policy administration with billing, claims and bureau reporting components.
Transamerica Insurance & Investment Group Launches iPipeline's iGO e-App for Life Business
The iGO e-App eliminates agent error and reduces processing time, according to the vendor. TIIG will be deploying full iGO e-Apps for their Term Life business throughout the U.S.
Sword Group Acquires AgencyPort
The deal unites AgencyPort's front-end solutions and client base with Sword's core processing and CRM capabilities.
BCBSTN Taps Analytics to Learn to Listen Better
BlueCross BlueShield of Tennessee deploys speech analytics solution from Nexidia to identify service issues and potential bottlenecks within its call centers.
FINEOS Introduces Its Workers' Compensation Claims Solution to U.S. Market
FINEOS introduces Its workers' compensation claims solution to U.S. market.
Honor Roll: This Week's Top Insurance Blogs (Nov. 15-21)
Our favorite insurance technology-related blog posts from around the Web (November 15-21, 2009):
The Hartford Names Christopher Magee Managing Director of International Financial Products
Magee will oversee all underwriting, administrative, finance, legal and regulatory functions of the operation.
West Bend Mutual's SOA-Based Underwriting System Drives Flexibility and Increased Revenue
The P&C carrier's best-of-breed automated underwriting solution leverages service-oriented architecture to support long-term profitability in small-commercial and other lines of business.
Progressive Details Twitter Strategy
Progressive and other insurers are learning by doing on social media sites such as Twitter, where opportunities for customer engagement abound.
Trizetto Launches Value-Based Benefits Solution
The solution gives payer organizations the ability to customize benefits and other incentives for individual members based on their health status, chronic conditions and health and wellness activity.
Western & Southern Financial Selects Novell Identity Management Solutions
The solution helps the organization map business roles to IT entitlements, allowing it to provision access to systems and resources based on the user's role in the organization.
Farmers HERO First Notice of Loss Application Improves Service Quality and Efficiency
Leveraging Pegasystems BPM software, Farmers' HERO first-notice-of-loss application links to back-office systems to power sequenced questions for call center reps, resulting in improved call handling and CSR training.
Independence Blue Cross Appoints Lauren O'Brien VP, Chief Accounting Officer
Independence Blue Cross appoints Lauren O'Brien VP, Chief Accounting Officer, a new position.
Government Report: NY Fed Could Have Done More in AIG Negotiations
Apparently, the New York Fed could have done more last year when it was negotiating with AIG trading partners. At least that's what Troubled Asset Relief Program special inspector general Neil M. Barofsky suggests in a government report officially released today.
News from ISOTech 2009: ISO Introduces New Geoanalytics Tool for Intelligent Risk Management
ISO introduces new geoanalytics tool for intelligent risk management; LOCATION Analyst provides a comprehensive library of geographic data, developed in a geographic information system.
News from ISOTech 2009: Unirisx Enhances SaaS Policy Administration Platform with Integration of ISO Rating Service
News from ISOTech 2009: Unirisx enhances SaaS Policy Administration Platform with integration of ISO Rating Service.
Main Street America Surety Bond Platform Drives New Business, Efficiency
Main Street America Group's surety bond platform delivers ease of use for agents writing bond business, resulting in a 25 percent increase in new business.
Homesite Adopts VOIP for Call Center Operations
Homesite Insurance Group achieves efficiency and sales goals by automating call center operations with Echopass' IP telephony-based Contact Center On-Demand.
Mere Efficiency Insufficient for Securing Positive Return-on-Assets
The argument about the limits of mere efficiency appear to be supported by Deloitte's report that despite major improvements in labor productivity over the last four decades, many US industries - including insurance - have experienced alarming decreases in their return-on-assets.
Woodmen Goes Live on Lawson Enterprise Suite, Business Intelligence
The fraternal organization will use the enterprise applications to support long-term growth through core systems consolidation and process automation.
News from ISOTech 2009: Camilion Releases ProductAuthority 6.7
Camilion Solutions has unveiled ProductAuthority version 6.7, the latest release of its product development and management solution.
Regulatory Outlook: The Truth About Unintended Consequences
Adapting to upcoming regulatory reform will be a challenge for the industry. But it's the unintended consequences that can be the most costly, says Howard Mills, chief adviser for Deloitte's national insurance group.
News from ISOTech 2009: Guidewire Software Introduces Guidewire PolicyCenter 4.0
Guidewire Software introduces Guidewire PolicyCenter 4.0; new version of underwriting and policy administration system provides enhanced ability for P&C insurers to tailor products and improve collaboration with agents and brokers.
AXA Equitable Launches Free iPhone Apps Designed to Help Women Track Financial Goals
AXA Equitable launches free iPhone apps designed to help women track financial goals; financial calculators released in support of "The AXA Equitable Connection" education and empowerment program.
Honor Roll: This Week's Top Insurance Blogs (Nov. 8-14)
Our favorite insurance technology-related blog posts from around the Web (November 8-14, 2009):
AAA NCNU Selects Exigen for Policy Admin and Billing
The Exigen PolicyCore and BillingCore solutions are aimed at helping AAA Northern California, Nevada and Utah transition from its legacy systems and gain the systems agility needed to support rapid expansion.
Brainshark Launches Site for Carriers and Distributors
The Brainshark Insurance Network enables carriers to share on-demand, voice-enriched presentations for product education and marketing outreach with distributors using the site.
Independence Blue Cross Partners with WebMD on Member Site
Independence Blue Cross (IBC) has collaborated with WebMD to enhance the health insurer's member Web site.
Accenture/Guidewire Battle Rekindles
The latest salvos in the Accenture/Guidewire legal battle have been fired, with Accenture filing a new suit on Nov. 10 in the Delaware District Court adding to the exiting case before Judge Sue L. Robinson. Guidewire fired back the next day with a press statement alleging, in essence, that Accenture was engaging in what observers of the software industry and others have sometimes termed "competition by litigation." Accenture has now reacted to Guidewire's statement.
Esurance: The Differences Between E-Commerce Companies and Insurance Companies
The night before Esurance CIO Phil Swift teamed with his colleague, director of systems engineering Deepak Srinivasan, to deliver the opening presentation of the 2009 Insurance & Technology Executive Summit, he told me that one of his big picture goals was to get Esurance to operate and think of itself more as an e-commerce company and less as a traditional insurance company.
Executive Summit Report: Controlling Your Destiny During Organizational Change
Among all the advice I've heard about how to undertake a successful merger, one of the most unusual recommendations comes from Russ Bostick, EVP, Technology & Operations, Conseco Services LLC.
AIG's Benmosche Threatens to Quit
Let's say your brother-in-law nearly drove his business into the ground. You step in as an investor for the sake of the family, pouring in a significant portion of your own money into the enterprise. To punish your B-in-L for being such a good-for-nothing, you proceed cut the salaries of all the company's sales reps, even though they can command a better salary at competitors. No one in his right mind would do this, including the decision-makers of the federal government. But then they're not i
AAA Auto Club Group Selects CodeObjects for Policy Admin and Billing
The AAA Auto Club Group (ACG) has selected CodeObjects' policy administration and billing software for various personal lines products.
Olympus Insurance to Implement StoneRiver Financial Software
The PRO Financial application will be hosted in the StoneRiver data center, and Olympus financial personnel will operate the systems via secure Web access.
Allianz Deploys Point of Sale and Illustration System
Allianz Life Insurance Company of North America has successfully deployed Insurance Technologies' ForeSight 5.0 point of sale and illustration system.
StoneRiver Embeds FICO Blaze Advisor in New Insurance Solution Framework
The Project Ignition insurance solution framework exemplifies an expanded relationship that will make Blaze Advisor an integral part of the overal StoneRiver insurance product portfolio.
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