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There is a great opportunity to more effectively utilize actuaries’ advanced analytics and modelling expertise, and thereby change actuaries’ role from scorekeeping to one in which they create a significant, information-driven competitive advantage for the organization.Be the first to comment
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The software business of Xchanging is offering an end-to-end module-based solution built on a single data model.
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The bundled offering incorporates predictive modeling tools.
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Larry Madge was last CFO of the company's U.S. subsidiary.
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Linking Milliman’s MG-ALFA system with Conning’s GEMS Economic Scenario Generator will respond to regulators’ and raters increasing demand for stochastic modeling capabilities and foster a holistic approach to risk management.
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SMA's Mark Breading answers Insurance & Technology's burning questions about exactly how Progressive's licensing offer for usage-based insurance affects other interested carriers.
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Strong forces that stand to reshape the sector include shifts to new types of coverage, alternative distribution channels, and redefined customer segments.
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According to the insurer's 2012 Natural Catastrophe Year in Review report, Superstorm Sandy and the summer's drought caused record losses in the U.S., although globally losses were lower than in 2011.
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The inherent autonomy of self-driving cars raises issues about driver liability and also data privacy, according to Bryant Walker Smith, a fellow at Stanford’s Center for the Internet and Society.
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Generali Deutschland prepares to meet new regulatory mandates by centralizing and streamlining actuarial functions with SunGard’s iWorks ERM Platform.
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With Cover-All’s support for ISO-based products, Mountain West Farm Bureau anticipates greater speed-to-market for new products, along with diminished maintenance on rating updates, ease-of-use and paperless efficiencies.
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Crum & Forster to deploy Accenture Duck Creek P&C software to help streamline processes, better serve customers and drive growth.
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Sandy's Aftermath: ispatches from Hoboken, New Jersey; reflections on community, loss, and the possible role of the insurance and banking industries.
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Steve Thiel, who has experience working with IT at the organization, has been appointed VP of actuarial reporting and analysis.
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The fixed-income investment landscape has changed dramatically over the past 15 years, yet investment guidelines set out by the NAIC have stayed largely the same. Now, state regulators are starting to catch up, which means insurers must update their investment policies, compliance procedures, and the technology that supports them.
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Mobile apps, social media and the availability of real-time content give everyone -- from insurance company actuaries to private citizens -- sophisticated capabilities to prepare for natural catastrophes, such as the looming Hurricane Isaac.
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The scope, destruction and costs of Hurricane Andrew in 1992 forced the insurance industry to revamp everything from risk forecasting to claims management. Marsh's Chief Operating Officer William Pieroni says technology has been key to helping insurers up their game when it comes to catastrophe response.
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Mark Stergio named CEO of Risk Sciences Group; longtime insurance tech exec will lead strategy focused on helping clients control the costs of risk.
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Allstate crowdsources to test usage-based insurance product; employee, agency owner testing of Drive Wise product will provide telematics feedback about driving habits.
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Universal Group upgrading to New Cover-All policy platform for commercial lines underwriting and rating; San Juan-based P&C carrier aims for improved efficiency and growth.
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When claims data is accurate, claims professionals can make more informed decisions, enhance customer service due to shorter cycle times and a more proactive claims process, and ensure that metrics and performance benchmarks will be more precise.
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The carrier is approaching a rearchitecting of risk models along the lines of what SVP Jose Trasancos calls a "rooftop" model, centered on customer and household.
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The upgrades to the vendor's core systems platform include ISO standards and improved rating capabilities.
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A-PLUS 2.0 offers new patent-pending household-based search technology from TransUnion, and provides a new "alert" feature that can greatly streamline the quote process for web, call centers, agents, and back-end underwriting systems.
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