NaviSys Supports TIAA-CREF
New York-based TIAA-CREF ($350 billion in assets) selected NaviSys' (Edison, N.J.) Enterprise Platform 9.5, a straight-through processing package, to support its policy administration.
To help insurers manage the entire compliance process, Arlington, Va.-based e-know launched Compliance Cockpit, a Web-based solution that works in conjunction with an e-mail client and browser to deploy policies, collect employee responses, track progress in real time and meet compliance objectives.
In response to the devastation caused by the 2005 hurricane season in the United States, Benfield, a London-based reinsurance and risk intermediary, in partnership with Tropical Storm Risk, an independent research organization based at University College London, developed ReMetrica, a new modeling methodology to help carriers with investments affected by the weather in the U.S. manage risk effectively.
Enhancing Your Legacy
Legacy systems can be inflexible and costly to maintain, but ripping out and replacing them is risky and often just as expensive. As a result, many insurers are adopting a legacy migration approach.
Tools That Fuel Growth
2005 Executive Summit participants explored strategies for balancing growth with compliance and accountability requirements.
Bracing for the Claims Storm
The 2005 hurricane season served both as a test of P&C insurers' claims processing technologies and as motivation to continue to upgrade their claims systems.
Insurance contact centers face a difficult challenge in serving multiple customers, including distributors and policyholders, with very different interests.
P&C carrier Ohio Casualty implements TeaLeaf Technologies' RealiTea solution to proactively identify glitches with its agent-driven Web site.
Getting to Know You
Nationwide deploys DWL customer data integration solution to create a single view of customers.
TMM/i-flex Deal Taps Partners
Industry newcomer i-flex solutions signs first insurance deal to deploy Castek-centered policy administration platform.
The Next Big Thing
Industry experts point to data-related technologies as the next 'killer' insurance apps during last month's ISOTech session.
Alliances & Partnerships
Fiserv Buys Xcipio; The Hartford, ChoicePoint Team; Symantec Acquires BindView; MostChoice.com, AgentSecure Deal; Syntellect/Apropos
No Place Like Home
To streamline work processes and improve ease of doing business, Hartford-based The Hartford redesigned its Electronic Business Center (EBC) agent portal home page.
EMC Buys Captiva, Acartus
In the latest example of consolidation within the content management marketplace, EMC acquired information capture solutions vendor Captiva Software and archiving and enterprise report management vendor Acartus.
Wellington Selects Docucorp; CIG Replaces Legacy With AQS; Wilton Re Taps AdminServer; IAT Selects Sapiens; Carefirst BCBS Chooses Urix; ARA Selects INSTEC; Quincy Mutual to Implement ISO; North American Taps iPipeline; Illinois Casualty, SmartDraw Deal; Intellisync Mobilizes Sanlam
Reform in Sight
Reform of state-based insurance regulation seems imminent, but some compromise short of an Optional Federal Charter is most likely in the near term.
There's a Potential New Wrinkle that could muss up insurers' distribution strategies.
Outsourcing Having accepted outsourcing and offshoring as more than cost-cutting strategies, banks are reevaluating which parts of their businesses to outsource. As a result, they're not only gaining efficiencies and access to better technology, but also improving their operating models.
Pass or Fail?
For the financial services industry, 2005 seems to have been the year of security concerns and challenges. So it is gratifying that as the year winds down the industry received at least indirect recognition for its role in the war on terrorism.
SAP-Sponsored Article: How to Get to Rapid Cognition
While achieving rapid cognition may seem an overwhelming task, there are incremental steps insurers can take to start moving down the path to the intelligent insurance enterprise and achieving rapid cognition.
To succeed with integration, insurers need to take a step back and gain a new perspective on how they do things - a new enterprisewide vision of their business, as well as technological future, based upon consideration of three essential factors: vision, leadership and standards.
Highmark Opens Data Center
iming to provide not only the infrastructure necessary for Internet-driven, 24/7, 365-days-a-year business but also to build capabilities to clearly differentiate itself from its competitors, Camp Hill, Pa.-based Highmark has opened the doors on a new data center, replacing a decades-old facility.