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News & Commentary
Content posted in February 2013
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New York Life Announces Two Tech Appointments
News  |  2/28/2013  | 
Cara-Anne Gagliano is appointed a VP in charge of application development, and former Novarica analyst Don Desiderato is officially announced as leader of the company's investment division's tech operations.
Addressing David Brooks' Data Skepticism at the New York Times
Commentary  |  2/28/2013  | 
Decision making is never fundamentally about available information, but rather the questions one is able to ask about it.
Poor Insurance Customer Experience May Drive Away Customers - Capgemini Report
News  |  2/27/2013  | 
Catastrophes have blunted improved underwriting results across geographies, and two out of three customers are at risk of retention with only a neutral or negative customer experience.
Black Swan Events Give Insurers Occasion to Improve Service and Efficiency
Commentary  |  2/26/2013  | 
With extraordinary events becoming common, insurers can create cost savings and operational efficiencies and customer service improvements by integrating disaster response with day-to-day operations.
Erie Names Former Marketing Exec SVP in Charge of IT Infrastructure, Services
News  |  2/26/2013  | 
Keith Kennedy is named senior vice president for strategic and integrated services.
How is Insurance Technology Like Downton Abbey?
Commentary  |  2/26/2013  | 
The great English house is a legacy system embedded in an institution with a history of hostile takeover. Its survival depends on accessing new talent and reorienting itself to understand its mission from an outside-in perspective.
Aetna Launches Document Capture App for International Claims
News  |  2/25/2013  | 
The app allows insureds to upload pictures of their documents.
6 Characteristics of an Insurance Digital Enterprise
Slideshows  |  2/22/2013  | 
The modern insurance enterprise begins with a shift to systems of engagement from systems of record.
Video: AIG's Benmosche Talks Data and Risk Management
Commentary  |  2/22/2013  | 
In a CNBC interview, the AIG CEO says that the company is using data to develop products with better margins.
Ex-Infosys Exec Says Outsourcing Billing Should Be Based on Outcomes
News  |  2/22/2013  | 
A former Infosys Ltd executive is challenging the IT outsourcing industry's billing model by charging for results instead of basing fees on the time and labour put in by the armies of staff working for India's big firms.

IBM Kicks Off Expanded Mobile Strategy
News  |  2/21/2013  | 
International Business Machines unveiled its expanded mobile strategy on Thursday in an effort to gain an advantage over rivals amid a proliferation of devices such as smartphones and tablets.

Health Insurers Notified of Must-Offer Benefits Under Healthcare Reform
News  |  2/21/2013  | 
The Obama administration on Wednesday issued its long-awaited final rule on what states and insurers must do to provide the essential health benefits required in the individual and small-group market beginning in 2014 under the healthcare reform law.

Tapping the Benefits of Text Mining for Fraud
Commentary  |  2/21/2013  | 
Text analytics can bridge the gap between structured and unstructured data, opening up the benefits of text mining for fraud detection.
WellPoint Sees Telehealth As First Mobile Step
News  |  2/20/2013  | 
Wellpoint's app, LiveHealth Online, which lets patients reach doctors without an office visit, is expected to be mobile-ready by the end of the year.
Badass Diamond Heist Boosts Case for Loss Control Tech
Commentary  |  2/20/2013  | 
Thieves found holes in the heavy surveilled diamond supply chain and made off with $50 million in gems.
Mobile: The Road Ahead for Insurers
News  |  2/20/2013  | 
The insurance industry has begun to provide relevant mobile capabilities to customers and distributors, but carriers must develop strategies of engagement beyond mobile that embrace the data processing implications of 'the Internet of things.'
Aviva Goes With Smartphones For Usage-Based Insurance
News  |  2/20/2013  | 
The Aviva Drive smartphone app records 200 miles of driving behavior, letting the insurer provide a policy discount.
What Start-Up MetroMile Teaches About the Future of Insurance
Commentary  |  2/20/2013  | 
The non-traditional competitor's use of telematics, data visualization and customer engagement pioneers the virtues of the insurance digital enterprise in a creative, technology-driven business model.
U.S. to Operate 26 State Health Exchanges with Little Local Help
News  |  2/20/2013  | 
The Obama administration said on Tuesday that it will operate federal online health insurance marketplaces in 26 of the 50 U.S. states with little or no input from local state officials.

Maker's Mark's Lessons for Insurers and Vendors
Commentary  |  2/19/2013  | 
Attention to customer expectations can result in companies ending up in a better place than they were before they ran into trouble, as Insurity’s experience shows.
70% of Auto Insurers Plan Some Form of Usage-Based Insurance: SMA
News  |  2/19/2013  | 
Of the companies that responded to an SMA survey on usage-based insurance practices, all of them offer some sort of premium discount.
Irish Life Sale to Great-West Life Will Cut Sovereign Debt
News  |  2/19/2013  | 
Ireland's sale of Irish Life to Canadian life insurer Great-West Lifeco will help push the government's debt below 120 percent of GDP this year, the country's finance ministry said on Tuesday.

When Designing Insurance Apps, Consider the Intent
Commentary  |  2/15/2013  | 
Insurance apps, intended to give insurers easier access to data, haven't made enough of an impact to be deemed particularly useful. Why?
Aetna Names New Leader for Health Information Exchange Division Medicity
News  |  2/15/2013  | 
Nancy Ham has experience in health insurance analytics.
FIO Modernization Report 13 Months Late, Along With Other Deliverables
Commentary  |  2/15/2013  | 
HFSC urges FIO to deliver "long overdue" reports and says it will work to limit the FIO from imposing unwarranted or excessive data collection burdens on the insurance sector or on small insurers in particular.
Dubai Financial Hub Sees Growth in Asia, Africa Business
News  |  2/14/2013  | 
The Dubai International Financial Centre, a business zone, says it aims to double the number of companies there over five years by serving as a base for business with China, south Asia and Africa, not merely the Gulf.

Anticipating The Future Of Mobile In Insurance
Commentary  |  2/14/2013  | 
A world of increased connectivity has rendered the humor of shows like ‘Seinfeld’ obsolete, and threatens to upend insurers as well.
Fireman's Fund Taps Wolters Kluwer for Insurance Compliance Solutions
News  |  2/14/2013  | 
Wolters Kluwers' NILS INsource and NILS INcompass solutions will help Fireman's Fund's compliance team simplify regulatory research while ensuring relevant regulatory changes are being implemented throughout the company.
Beyond Price: Reaching, Engaging and Retaining Insurance Customers
Commentary  |  2/14/2013  | 
Even in auto insurance, the impact of price-driven insurance buyers can be overestimated, according to a McKinsey survey. Ovum emphasizes the important of knowing the customer and crafting a satisfactory experience.
What Defines a 'Mobile' Insurance Capability?
Commentary  |  2/13/2013  | 
For insurers, the number of initiatives that fall under the "mobile" umbrella is increasing, thanks to the "internet of things."
Hurricane Sandy Proved A Perfect Storm To Test Insurers' Mobile Capabilities
News  |  2/13/2013  | 
Wide use of mobile technologies lets insurers engage better with claimants, adjusters and others across a spectrum of communications, business continuity and claims handling activities.
New WellPoint CEO Has Been at Center of Healthcare Industry's Transformation
News  |  2/12/2013  | 
Joseph Swedish, a 40-year healthcare industry veteran, is charged with driving collaboration with providers to improve outcomes and reduce the costs of care.
Cigna Releases First Two Mobile Apps
News  |  2/12/2013  | 
The health insurer's first two native mobile apps include a standard policy-servicing offering and a "for fun" video app.
Realizing Insurance IT Value Requires New Tools, New Mindset
Commentary  |  2/12/2013  | 
Insurers typically spend three to five percent of their revenue on IT, but they spend only a very small fraction of that on determining if they are maximizing their investment. That needs to change.
Most Midsize Insurers Lack Mobile Device Management for BYOD: Novarica
News  |  2/11/2013  | 
While about three-quarters of large insurers use mobile device management software for their BYOD-enabled employees, the reverse is true for midsize insurers.
Insurance Customer Diversity Means Increased Expectations, Opportunities
Commentary  |  2/10/2013  | 
To determine growth opportunities, insurers need to gain customer insight on the varying heterogeneous segments within existing and new markets.
6 of the Best Insurance User Experiences
Slideshows  |  2/8/2013  | 
Corporate Insight has honored several insurers for their user experiences on different types of web properties.
What Matters in IT, Part 2: Solving Legacy with ACM
Commentary  |  2/8/2013  | 
While other approaches may ultimately provide a technical solution, continuous migration is the only practical way to deal with the legacy dilemma.
Making ERM Part of an Insurer's Culture Requires People, Not Just Technology
Commentary  |  2/8/2013  | 
Effective risk management is not about trying to avoid risk; it is about striking a balance between minimizing risk and maximizing reward.
Obama Nominates Tavenner to Lead Medicare and Medicaid
News  |  2/8/2013  | 
President Barack Obama on Thursday renominated one of his top healthcare advisers to lead the federal agency responsible for overseeing Medicare, Medicaid and the implementation of his 2010 healthcare reform law.

Travelers' Asbestos-Reinsurance Case Will Go to Trial
News  |  2/8/2013  | 
New York state's highest court on Thursday said a trial must determine whether Travelers Cos deliberately structured a nearly $1 billion asbestos settlement to force its reinsurers to pay more than their fair share.

Weather Forecasts Aren't Doing Models Any Favors
Commentary  |  2/7/2013  | 
The absurd forecasts for a nor'easter tomorrow don't exactly engender confidence in technology's ability to give us actionable insight.
Allstate Says 95% of Sandy Claims Settled, but Rate Hikes Likely
News  |  2/7/2013  | 
Allstate Corp's quarterly profit fell 45 percent on losses from superstorm Sandy, but the home and auto insurer said it has paid out about 95 percent of Sandy claims and is seeing rate increases across businesses.

Cigna's HealthSpring Acquisition Helps Profit Rise
News  |  2/7/2013  | 
Health insurer Cigna Corp. reported a higher-than-expected fourth-quarter profit on Thursday, helped by the acquisition of Medicare provider HealthSpring, and raised its outlook for 2013.

How Nationwide's Guidewire Deal Impacts the Whole Insurance Industry
News  |  2/6/2013  | 
The selection of a package for a massive volume of business settles rather than opens the question about the industry's technological direction.
Towers Watson: Life CFOs Demand Faster Financial Modeling
News  |  2/6/2013  | 
Financial models are a work in progress at life insurance companies, even as they become more crucial to address business challenges.
MassMutual CIO Bob Casale Reimagines IT
News  |  2/6/2013  | 
The technology head visited Insurance & Technology's offices and shared some insights into the insurer's new approach to IT.
4 Ways Analytics Enhanced Gerber Life's Call Center
News  |  2/5/2013  | 
The company's contact center VP explains how Nexidia Interaction Analytics has improved outcomes by providing actionable data.
Dell to Go Private in $24.4 Billion Deal
News  |  2/5/2013  | 
Computer maker Dell Inc will go private in a $24.4 billion deal that also involves Microsoft Corp and private equity firm Silver Lake, the parties said on Tuesday.

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