Blog


The Wrong Argument for OFC
September 30, 2008 @ 09:07 AM | By Anthony O'Donnell

While insurance companies are exposed to the credit crisis as institutional investors, their fortunes stand in stark contrast to their industry peers because of the conservative regulation to which they have been subject under the state-based regulatory regime, as NAIC president Sandy Praeger argues,

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AIG Fallout: Pricing and Risk Management
September 26, 2008 @ 09:27 AM | By Anthony O'Donnell

An Advisen briefing speculates that if there is a "stampede" by AIG policyholders spooked by the holding company's failure, it would likely precipitate a "sudden, short-term uptick in commercial insurance rates." In the absence of such a reaction, the briefing continues, "prevailing soft market conditions are unlikely to be affected."

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Next-Generation Alternative Sourcing: Defining a Road Map for Reaping the Rewards
September 25, 2008 @ 07:36 AM | By Christine Hintze

While the potential benefits are compelling, it is crucial for insurers to understand the risks of alternative sourcing so they can successfully reap the rewards. Companies must ensure their sourcing strategy utilizes a comprehensive lifecycle approach that allows insurers to align and support their strategic goals.

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The Downfall of Traditional Communication Channels
September 24, 2008 @ 10:15 AM | By Nathan Conz

According to a report released last week by Nielsen, nearly one in five American households will not have a home phone line by the end of the year. To many, I have a feeling that this is a surprising finding, but it shouldn't be. Landline phones are quickly becoming an unnecessary expense. What can one do on a landline phone that they can't with their cell phone?

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It's Better to Know What You Don't Know: Step 4 - Insights Through BI Innovation
September 22, 2008 @ 10:07 AM | By Christine Hintze

With all that has been going on in the financial and insurance world lately, asking and answering hard questions predicated on fact, data and analytics has never been more important.

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Getting Privacy Right in Pay-Per-Drive
September 19, 2008 @ 08:44 AM | By Anthony O'Donnell

Through its MyRate program, Progressive supplies a small, portable device that can easily be plugged into the on-board diagnostic (OBD) port of many car models built after 1996. The device delivers a much richer portrait of driver behavior than Real Insurance's mileage-only plan by recording mileage, braking and acceleration, and time of day. The device periodically transmits that information wirelessly back to Progressive.

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Reflections on the AIG Bailout
September 17, 2008 @ 18:09 PM | By Nathan Conz

In the insurance technology space, analysts wouldn't say that Enterprise Risk Management (ERM) technologies could have prevented the financial crisis that many companies find themselves in, but some did suggest that the current situation should serve as compelling evidence of the need for wider adoption of ERM and analytical tools, as well as better corporate governance around risk.

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Risk Modeling and Wishful Thinking
September 17, 2008 @ 09:12 AM | By Anthony O'Donnell

The fact is that risk modeling, like so many other control methods, can be used to mask as well as reveal reality. As useful, indeed as indispensable, as risk modeling is to project future probability it is nevertheless subject to one of the cardinal maxims of information technology: garbage in, garbage out.

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A Mystery Player Enters the Individual Health Market
September 16, 2008 @ 00:25 AM | By Nathan Conz

Perhaps one big difference in how the individual market will develop will be the emergence of niche players. Traditionally, health insurance hasn't been marketed to individuals, so it's possible that health insurers aren't adept at reaching targeted segments of the population. As the individual market emerges, however, that will have to change.

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Lessons Learned from Microsoft's Bill Gates/Jerry Seinfeld Ad Spot
September 10, 2008 @ 17:38 PM | By Nathan Conz

I'm not at all sure that it is accurate to describe Microsoft's latest ad campaign, which recently kicked off with a television commercial starring both Jerry Seinfeld and Bill Gates, as viral marketing. After all, viral campaigns don't start out with national TV spots featuring two of the world 's most famous individuals.

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IFRS Compliance: Technology Architecture is Key
September 10, 2008 @ 08:24 AM | By Christine Hintze

Understanding the technical accounting involved with adjusting financial statements for the three year period prior to conversion, as required by the IFRS Roadmap, is clearly only the starting point. Execution and success will depend on understanding and implementing the appropriate financial and reporting technology architecture.

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The IT Workforce: A Security Risk?
September 08, 2008 @ 18:04 PM | By Nathan Conz

Both in the pages of Insurance & Technology and on I&T's web site, I've devoted considerable coverage to insurers increasing need to recruit and retain top IT talent. Turns out though, that it might be more important for carriers to watch employees going out the door than those coming in it.

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Assessing Black Hole Risk
September 08, 2008 @ 12:39 PM | By Anthony O'Donnell

The fear is that the world's largest particle accelerator, about to be activated several hundred feet below the French/Swiss border, could cause a black hole that could swallow up the earth. The accelerator will attempt to replicate the conditions of less than a millionth of a second after the Big Bang, and some people have evidently taken legal action to have the experiment stopped.

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Honoring Fannie & Freddie's Critics
September 08, 2008 @ 09:25 AM | By Anthony O'Donnell

Wall Street Journal editorial page editor Paul Gigot called attention to serious problems within Fannie Mae and Freddie Mac in 2002 through an editorial written by Susan Lee. Published with the provocative title "Fannie Mae Enron," the piece resulted in a hail of attacks both against the Journal and against Gigot personally.

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Hurricanes, Civilization and Insurance
September 03, 2008 @ 09:15 AM | By Anthony O'Donnell

If one were to look at a map of insurance coverage around the world one would see huge gaps in the geography. This is because many people simply can't afford insurance or the risk factors make the proposition of insurance unviable. Insurance is a blessing of material civilization that enables the more fortunate of us to take measures to secure our property and protect our families.

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