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News & Commentary
Content posted in March 2011
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New Microinsurance Facility Focuses on Catastrophe Risk
Commentary  |  3/31/2011  | 
An international consortium including Swiss Re, Guy Carpenter and Mercy Corps has created what it calls a scalable, innovative model to combat the financial impact of natural disasters for Haitians.
Applied Systems Acquires Artizan Internet Services
News  |  3/31/2011  | 
Agents' desire for customer service capabilities was cited as a reason behind the buy.
ENERGI Licenses Two Duck Creek Offerings
News  |  3/31/2011  | 
The provider of risk management and insurance services to the energy industry has selected the vendor's policy admin and templates services.
Hancock Named Chartis CEO Following Reorganization
News  |  3/31/2011  | 
Current CEO Kristian Moor has been named vice chairman, and the company has been divided into two global groups.
I&T Seeks Nominations for Elite 8 2011
Commentary  |  3/30/2011  | 
We're getting ready to select this year's Elite 8 insurance technology executives, and welcome help from our reader base.
Aetna Using Mobile and Social to Reach College Students
News  |  3/30/2011  | 
The carrier's Student Health initiative is designed to help college students make healthy choices while in school.
Prudential Builds Capacity to Support Over 1 Million Variable Annuity Transactions Daily
News  |  3/30/2011  | 
Without a major investment in software, Prudential Annuities has enabled continued growth of its unique variable annuity products with complex risk management and living benefit guarantees.
ING Names Former AIG Exec CEO of U.S. Insurance
News  |  3/29/2011  | 
The Amsterdam-based financial services company is looking for leadership at its U.S. insurance unit as it prepares for an IPO.
New Life & Annuities Sales Tool: Aging Simulation
Commentary  |  3/29/2011  | 
Allianz is already looking to develop a version of Stanford University researchers' virtual technology that has been shown to encourage the saving impulse in young people who see a simulation of their older self.
MTMIC Goes Live on CHSI Connections Policy Admin System
News  |  3/28/2011  | 
The Michigan-based workers' compensation carrier anticipates reductions in the time required for quoting, binding and issuing endorsements certificates and renewals.
Plymouth Rock To Release Direct Sales Application for Agents' Sites
News  |  3/28/2011  | 
The Online Policy Purchase Tool will be incorporated into the auto carrier's corporate site, but will also be made available to its stable of independent agents so that they can add direct sales capability to their homepages.
Zurich Inks Contract with Unirisx
News  |  3/25/2011  | 
As Unirisx's first deal with a tier-one carrier, both Unrisx and the the SaaS delivery model gain credibility.
After a Fortnight, Japan Situation Remains Unclear
Commentary  |  3/25/2011  | 
News this morning, two weeks after the original earthquake, of a potential reactor breach at a stricken nuclear plant headlines the week's developments.
SWBC Eliminates Returned Mail
News  |  3/24/2011  | 
SWBC leverages SynTel's AutoMail PRO as an early adopter of the USPS' electronic address correction services, cutting costs and improving customer satisfaction.
Torus Insurance's ESCAPE Broker Portal Aspires to Industry Leadership
News  |  3/24/2011  | 
A unique combination of technology and state-of-the-art functionality distinguishes Torus' broker portal in the excess casualty business, the carrier asserts.
Data Security Tips Throughout Enterprise Devices' Lifecycles
Commentary  |  3/24/2011  | 
US Micro Corporation, a firm that helps companies dispose of IT assets, shared some tips at the I&T offices on how to make sure data are secure throughout the adoption, life and retirement of hardware.
Australia's RACQ Insurance Picks Guidewire for Policy Amin and Billing
News  |  3/24/2011  | 
RACQI's selection of the Guidewire product suite is a key element in a plan to rapidly transition the Guidewire ClaimCenter customer's group enterprise technology platform, following a buy out of a joint venture partner that had provided core system support and IT services.
Valen Releases Predictive Analytics Tool
News  |  3/23/2011  | 
InsureRight aims to help workers' compensation carriers predict loss ratio and misclassification exposure on policies.
Nippon Life Benefits Taps CoreSource for Benefit Administration
News  |  3/23/2011  | 
CoreSource will provide a comprehensive range of administrative services, including billing, administration and claims, formerly provided by Principal Financial Group.
Main Street America SVP Lancashire Partners With Internal IT Team and Key Vendors to Compete With National Insurers
News  |  3/23/2011  | 
The Jacksonville, Fla.-based super regional carrier's head of claims and integrated customer solutions is partnering with IT and external technology providers to achieve consistency, efficiency and improved service.
CSC Launches POINT IN Policy Admin For Windows
News  |  3/22/2011  | 
The new release of the Java-based system includes enhanced configuration tools that allow carriers to easily create their own rules or use one of the hundreds pre-built into the system, according to the vendor.
Early Carrier Estimates Trickle In for Japan Quake Losses
News  |  3/22/2011  | 
While most carriers and observers are steering clear of releasing hard numbers, Swiss Re and Chartis have decided to do just that.
Advisen to Acquire Web Connectivity
News  |  3/22/2011  | 
Advisen asserts that the collaboration will allow both companies to further develop technologies and solutions for offering increasing amounts of structured data to suppliers, buyers and brokers of commercial insurance and reinsurance.
MetLife Names Steven A. Kandarian as New President and CEO
News  |  3/22/2011  | 
On May 1 Kandarian, currently MetLife's chief investment officer, will succeed C. Robert Henrikson, who will continue to serve as chairman of the board through 2011.
Report: Firms Plan Alliance for Cloud Computing Standards
Commentary  |  3/22/2011  | 
According to The New York Times, both personal and business use of new networking and cloud technologies would be standardized.
Sapiens Announces Merger Agreement
News  |  3/21/2011  | 
The potential union of three insurance software vendors includes one P&C-specific firm and one life-specific firm.
Former Nationwide Tech Chief Named CIO at Symetra Life
News  |  3/21/2011  | 
George McKinnon, whose last position was at a China-based outsourcing company, takes over his third top tech job in the insurance industry.
U.S. Insurers Continue Donations to Japan Relief Effort
News  |  3/21/2011  | 
New York Life today added $100,000 to several large donations made by insurance carriers over the past week.
Argo Group Says Christchurch Quake Losses $35m to $45m
News  |  3/18/2011  | 
The Bermuda-based specialty international direct and reinsurance underwriter demurred from publishing an estimate on the March 11 Japan earthquake owing to limited information and significant remaining uncertainties.
Insurance Outlook Still Uncertain One Week After Japan Quake
Commentary  |  3/18/2011  | 
The news out of Japan remains grim, and insurers — like many others — can still only wait and see what will happen.
McRaith Officially Named Head of Federal Insurance Office
News  |  3/17/2011  | 
As Insurance & Technology reported several days ago, the new regulatory body will be headed by the former Illinois insurance director.
What Did You Think of Our Customer Experience Virtual Event?
Commentary  |  3/17/2011  | 
Executives from Farmers, New York Life and Amica talked about all aspects of customer experience including mobile, analytics and social media.
Admiral Picks FICO Analytics to Fight Auto Insurance Fraud
News  |  3/17/2011  | 
The U.K.-based auto insurer will use FICO insurance fraud models, business rules and link analysis to catch more fraud while maintaining superior customer service.
What Will it Take to Harden the Market?
Commentary  |  3/16/2011  | 
It will take more than the terrible tragedy convulsing Japan, according to Keefe, Bruyette & Woods, who predict only pockets of price hardening.
IDP Names Chartis, CIGNA Vet CEO
News  |  3/16/2011  | 
Bob Blithstein takes over the software company after stints in the IT departments at two carriers.
BCBSAZ Names Marcus Montoya VP, Network Management
News  |  3/15/2011  | 
Montoya will maintain service standards, develop network strategy, and establish and maintain provider relationships.
Carriers in Japan Must Buck Their Reputation
Commentary  |  3/15/2011  | 
Research finds that Japanese consumers have a poor view of the insurance industry, but carriers can show that it's unwarranted in their response to the earthquake.
IBM Study Finds Insurance Customers Worldwide Flipping From Channel to Channel
News  |  3/15/2011  | 
These "multimodal" customers have a low level of trust in the industry and cannot be marketed to in traditional ways, IBM insurance practice leader Christian Bieck says.
New York Life Launches Career Site
News  |  3/14/2011  | 
The carrier says its goal is to increase its agent force by 3,500 this year.
Sendai Quake Raises Questions About Emerging CAT Loss Profile, Risk Models
Commentary  |  3/14/2011  | 
Japanese government coverage limits insurers' and reinsurers losses, but the industry needs to take a close look at the reliability of its CAT models.
Organizational Strategies, Role of Social Discussed at IBM Customer Experience Luncheon
Commentary  |  3/14/2011  | 
Carriers are forming cross-functional groups to decide how to leverage technologies to improve the customer experience.
A Review of Deadly Tsunamis That Hit American Shores
Commentary  |  3/11/2011  | 
The waves generated on American shores by the March 11 Sendai earthquake may have been mild compared to those striking Japan, but history shows that tsunamis pose a deadly threat on the eastern shores of the Pacific.
More Video and Other Updates on Japanese Quake and Tsunami
Commentary  |  3/11/2011  | 
The country's broadcasting arm, NHK; as well as several other outlets, have posted several videos showing the destructive power of this morning's seismic event.
Technology Shows the World Scope of Japan Earthquake Disaster
Commentary  |  3/11/2011  | 
Technology shows the world scope of Japan earthquake disaster; even within a few hours or the 8.9 magnitude earthquake and subsequent tsunami there was a tremendous amount of information about the scope of the tragedy.
Tsunamis Due to hit U.S. Pacific Coast
News  |  3/11/2011  | 
Little damage expected in the U.S. from the Japan quake, but West Coast states' tsunami response plans will be tested.
Need for Customer Focus Seen for Long Haul
Commentary  |  3/10/2011  | 
Insurers must come to grips with an ever-changing and diversified consumer population at a time of accelerated change, driven largely by technology.
Customer Experience Driving Carriers' Tech Investment: Deloitte
Commentary  |  3/10/2011  | 
Insurance practice leader Rebecca Amoroso discussed how technology is changing the landscape across the insurance enterprise.
Sapiens Adds CRM Module to RapidSure Policy Admin System
News  |  3/9/2011  | 
The new customer relationship management module includes collaboration, workflow and diary items for insurance companies.
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