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Happy Thanksgiving from I&T
November 25, 2008 @ 10:26 AM | By Anthony O'Donnell

While the editors of Insurance & Technology won't have a full day off tomorrow, I&T Daily will. And since both publication and creators will not return until next Monday, the first of December, today we wish you a happy Thanksgiving Day.

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What Can Insurers Learn from the Xerox Turnaround Story?
November 20, 2008 @ 10:02 AM | By Kathy Burger

In some ways, the situation Xerox found itself in roughly 10 years ago is similar to the current financial services crisis, in that it resulted from a "perfect storm" of factors -- a weak economy, stronger competition, and internal turmoil.

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Pirates Exemplify Shifting Risk Environment
November 18, 2008 @ 11:13 AM | By Anthony O'Donnell

Three recent news stories have underscored the need for insurance underwriting to adapt to a constantly changing environment, as ISO CEO Frank Coyne recommended during his recent address at ISOTech: the California wildfires, the rise of deer collisions in the Eastern United States and the increasingly brazen and ambitious pirates of Somalia.

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Life Insurance CFOs on the Future of ERM
November 17, 2008 @ 11:17 AM | By Nathan Conz

Over these last few tumultuous months, there has been no shortage of talk about risk management strategies. Could better ERM saved some companies from their current financial difficulties? Why did ERM strategies that were in place fail? Will more companies invest in ERM technology in the fallout? In the pages of I&T -- both print and Web -- we've covered the topic, but at last week's 19th Annual Executive Conference for the Life Insurance Industry (quite a catchy name, eh?) held at the New York Palace Hotel, I got a new perspective on things from the point of view of insurance industry CFOs.

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Industry Optimism Persists -- For Now
November 13, 2008 @ 11:20 AM | By Anthony O'Donnell

The atmosphere of the ISOTech conference in Las Vegas earlier this week was in many respects reassuring. The general sessions were good, the breakout session topics were spot-on, and the vibe was optimistic. There was some vendor grousing about attendance, but some degree of drop in numbers is to be expected in these troubled times. Finally, everybody I spoke to was sanguine about technology spending.

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ISO CEO: Heraclitus Was Right
November 12, 2008 @ 10:50 AM | By Anthony O'Donnell

When Hurricane Hugo hit Charleston, S.C., in 1989, it was seen as a once-in-a-century event. That was just three years before Hurricane Andrew, to say nothing of the many storms we've seen since. "Heraclitus was right," Frank Coyne, ISO's chairman, president and CEO commented.

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Customer Analytics: When Are the Numbers Telling the Truth?
November 10, 2008 @ 11:16 AM | By Nathan Conz

Exactly one week ago, Neeraj Arora, director of analytics at Farmers Insurance's Insight & Innovation group, took the stage at the 2008 Insurance & Technology Executive Summit and started his presentation on customer analytics thusly: "Knowing the customer is not something we can talk about in [the next 35 minutes] but we'll try."

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IT's Impact on Insurance's Waning Workforce
November 07, 2008 @ 11:00 AM | By Anthony O'Donnell

The opportunity is to leave many of the most dreary aspects of insurance work to machines and allow the workers of the future to focus on more challenging and meaningful activities. Thus insurance jobs simultaneously become both more efficient and more attractive to recruits.

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Privacy Risk in the Web 2.0 World
November 06, 2008 @ 12:34 PM | By Anthony O'Donnell

Privacy measures implemented before Web 2.0 may be inadequate, as new risks emerge. To protect themselves from those risks, insurers need to ask which sources of customer information are reliable and safe and which are dangerous; and they need to ask what kinds of information shared may be repurposed in ways that could expose customers to harm, and insurers to penalties.

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Election Celebration at Executive Summit Had Bipartisan Flavor
November 05, 2008 @ 10:37 AM | By Anthony O'Donnell

After celebrating this year's Insurance & Technology Elite 8 Award winners on Monday night at Insurance & Technology's Executive Summit, held in Phoenix, Arizona, we spent the last gathering of the event celebrating the election of a new president last night. This is not to say by any means that the result of the election was unanimously welcomed, but Democrats and Republicans alike put aside partisan difference, clinked glasses and wished the new president well. In the coming days we will explore the likely implications of a Barack Obama presidency for the insurance industry. In the meantime, we can once again celebrate the peaceful transition of government. We can also appreciate an election too decisive to raise acrimonious disputes about the result, and a gracious concession speech from the losing candidate, Senator John McCain, in whose state we gathered. Barack Obama's party affiliation meant that many Americans would not vote for him as a matter of their own affiliation and their own political philosophy. The suggestion that their votes were motivated by less honorable considerations is a canard. However, voters who regret the election of a Democrat, can nevertheless rejoice that the winner's race was no obstacle to his winning both an electoral and popular victory. If nothing else, reaching the milestone of the first president of African ancestry will make it easier to insist, in the spirit of Martin Luther King recommended, that we focus on the content of a candidate's character -- and, of course, on his performance -- rather than the color of his skin. We doubt that the election of Mr. Obama will entirely fulfill either the hopes of his supporters or the fears of his opponents. In the meantime, we congratulate him on his victory and wish him well as he prepares to shoulder tremendous and consequential responsibilities.

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I&T Executive Summit Keynote: Insurers Must Create "Millennial-Friendly" Brands
November 04, 2008 @ 23:56 PM | By Kathy Burger

What's the biggest challenge facing the insurance industry? If the concerns of attendees at this week's Insurance & Technology Executive Summit are any indication, the urgent need to recruit and retain an effective workforce for the future ranks at the very top of most management priority lists.

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Going Green in Tough Times
November 04, 2008 @ 08:38 AM | By Nathan Conz

I think it'd be an understatement to say that green initiatives have taken a back seat as companies navigate the choppy waters of economic crisis.

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