Content posted in December 2008
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AIG Sells Hartford Steam Boiler to Munich Re
Munich Re will acquire 100% of the outstanding shares of HSB Group for $742 million in cash and assume $76 million of outstanding HSB capital securities.
Video: Happy Holidays from our "Office"
The coming year promises to be an interesting one for insurance industry observers, but a challenging one for our senior technology executive readership. That being the case, we thought we'd end on a light and festive note by sharing the video below.
Death to the "Reply All" Button
It is time to look at simplifying our daily work lives and eliminate unproductive tasks, processes and work. E-mail, a very useful and powerful tool, has become a major productivity drag on firms due to misuse and abuse.
BCBSA Awards AT&T Multimillion Dollar Contracts
Agreements covering a portfolio of networking services and mobility capabilities renew Blue Cross and Blue Shield Association's existing relationship with AT&T Business Solutions as its primary network services provider.
Insurers Measure Expectations After Elections
Preoccupation with financial crisis-related woes is likely to drive the new administration to implement some form of federal oversight of the insurance industry.
Expert: All Predictive Models Are Wrong
Near-term hurricane models introduced by AIR Worldwide, EQECAT and RMS in 2006, predicted cumulative insured losses of 37.2 billion, $40.8 billion and $42 billion respectively-seriously short of the actual cumulative losses of $13.3 billion during the specified period.
Ensuring That Looming Regulatory Mandates Help, Not Hinder
Insurers should be at the table in order to champion constructive regulatory changes at a time when federal oversight of the industry is likely to be promulgated.
Managing Risk to Regain Trust
IT will play a leading role in correcting the weaknesses in managing enterprise risk that have been exposed by the financial crisis.
Humana to Deploy Paperless Quoting and Enrollment
Humana has partnered with FormFire to deploy a digital quoting and enrollment process.
Insurers Can Relate to the Challenges Facing a National CTO
Insurance industry technology executives who either have experienced or are contemplating major systems and infrastructure overhauls -- descriptions that probably would apply to just about every insurance technology executive -- should be following President-elect Barack Obama's plans to name a Chief of Technology to his cabinet.
2009 Will Be a Year of Challenge and Opportunity for Insurers
Insurance Tech Outlook 2009: The coming year promises to test CIOs with budget constraints and tactical challenges — but rewards will come to firms that position themselves for strategic success, say industry experts.
2009 Business and Technology Resolutions for the Insurance Industry
With a very tough 2008 drawing to a close, there are a number of important goals for everyone in the insurance technology industry, including getting up to speed on social media, and improving competitiveness.
Insurers Must Take Advantage of the Economic Climate to Realize Future Gains
Times may be tough, but insurers should take advantage of the current economic climate to realize future competitive gains.
Leakage Floods NFIP: GAO Report
It is unclear whether the report's title reflects the GAO's leaden wonkishness or a terrifically dry sense of humor, but it is called "FEMA's Rate-Setting Process Warrants Attention." It will be interesting to see what kind of attention it gets when current authorization for the NFIP expires on March 6, 2009.
Online Search Analytics Provide a Window Into Customer Behavior
2009 will bring an opportunity for carriers to leverage Web search data to understand how consumers purchase insurance online, Google's financial services head says.
Carriers Take More Disciplined Approach to Vendor Relationships
As carriers apply more discipline to the process of justifying the business value of technology investments, the vendor community is adjusting accordingly.
CIOs Stress Prioritization in 2009
While insurance CIOs remain relatively confident about their 2009 IT budgets, many are prioritizing projects and placing an added value on those that offer hard-dollar savings and efficiency gains.
Priorities Will Shift, But Insurers’ 2009 IT Spending Remains Healthy
Given the ravages the financial crisis has wrought in the insurance industry, greater cost consciousness will return to insurance IT organizations. But unlike during the downturn following the dot-com bust, carriers are likely to sustain levels of pre-crisis spending.
Insurance Technology Outlook 2009: Sudden Change
Though the financial services industry has seen a precipitous change in the business environment and will adopt austerity measures, insurers are likely to be opportunistic in their technology investments.
GEHA Taps Network Access Control to Close a Security Loophole
Government Employees Health Association boosts security with Nevis Networks' Network Access Control appliance.
Ullico Overhauls Insurance Framework With ISCS
Ullico simultaneously overhauls antiquated systems and re-enters commercial markets by tapping ISCS' Web-based policy administration system.
CIOs Stress Prioritization in 2009
While insurance CIOs remain relatively confident about their 2009 IT budgets, many are prioritizing projects and placing an added value on those that offer hard-dollar savings and efficiency gains.
NAIC Adopts Reinsurance Reform
The National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal, which modernizes U.S. state-based regulation of reinsurance through the creation of two new classes of reinsurers subject to U.S. insurance regulation.
Medical Mutual Board Names Interim Leadership Team
Medical Mutual of Ohio has named an interim management team to find a replacement for CEO Kent Clapp, who died in private plane crash last week.
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