8 Insurance Industry Impacts of Hurricane Andrew
Technology, regulation, construction and the P&C insurance industry itself all have changed since – and in some instances, because of – Hurricane Andrew, the category 5 storm that made landfall in south Florida on August 24, 1992. Here are eight ways that the catastrophe changed the way insurance companies do business.
5 Reasons Why Hurricane Andrew Still Matters
In the 20 years since Hurricane Andrew hit south Florida on August 24, 1992, there have been more damaging hurricanes and natural catastrophes, but no other event has had as much impact on the insurance industry. To kick off I&T’s special coverage of Hurricane Andrew’s 20th anniversary, here’s a look at the catastrophe and how it has changed the industry.
6 Tips for Avoiding a Social Media Debacle
Progressive's "robotweet" debacle put a spotlight on social media's importance within the insurance industry and the risk companies take if they do not implement a sound social media strategy.
8 Signs the Healthcare Debate Isn’t Dead
Opponents of the Affordable Care Act are finding a variety of ways to delay its implementation, including blocking and evading set up of the health insurance exchanges prescribed by the law. Insurance & Technology takes a closer look at the leaders in various states who have stated their own reasons for blocking these exchanges.
5 Customer Experience Concepts Insurers Can Learn from Yahoo’s New CEO
Just because the background of Yahoo’s high-profile new CEO, former Google executive Marissa Mayer, is in engineering doesn’t mean she doesn’t have some valuable insights about customer experience and engagement. As insurers grapple with these concepts, it could be helpful to review these insights from the woman who is charged with putting them into practice at long-struggling Yahoo.
Insurance IT Salary Survey: Job Outlook Improving
Even as the economy has stumbled, insurers' confidence in growth opportunities has led to shifting staffing needs and slightly higher salaries for insurance IT staff as carriers resume large-scale projects aimed at increasing efficiency and improving the customer experience, according to the 2012 InformationWeek U.S. IT Salary Survey. Check out many of the study's other revelations and view detailed charts on topics including the long-term view of insurance IT as a career and the growing gender
What Insurers Need to Know About the Next Generation of Tablets
If, as Tom Petty sang, “The waiting is the hardest part,” then these are indeed tantalizing times for insurance IT execs and others charged with evaluating tablet device options for their workforces -- and, from an apps perspective, for their customers. In recent weeks, Google, Microsoft and Amazon all have revealed plans for new or updated tablets intended to challenge the dominance of Apple’s iPad. Reports that Apple is working on a smaller, cheaper version of the iPad sugges
Extreme Weather in the US: Is It Climate Change or a Historical Pattern?
Devastating wildfires that have destroyed at least 347 homes in Colorado and cost more than $11 million to control. A bizarre derecho storm that killed 22 people and left 4.3 million people without electricity across 10 states. Record heat across the United States. It’s highly unusual – or is it? This summer’s extreme weather has many observers pointing to climate change and global warming as the cause; others argue it’s all part of long-term weather patterns. Either way,
The Supreme Court Rules on the Affordable Care Act: What It Could Mean for Insurers
The Supreme Court’s five-to-four ruling that the Affordable Care Act’s individual mandate provision is constitutional because it is a tax is having many immediate consequences. It surprised many observers, positioned Chief Justice John Roberts as one of the most influential Chief Justices in history, gave President Obama a victory, and inspired Mitt Romney and other Republicans to declare they would overturn the legislation. But what will be the long-term impact? Here are opinions, r
How 2012 Grads Can Prepare for a Career in Insurance IT
As Insurance & Technology’s new report on the Top 11 Schools for Insurance Technology Talent reveals, today’s students graduate from college with impressive training, skills and credentials. But do they have other capabilities – such as common sense, creativity, empathy, a sense of adventure -- that are essential to success in the business technology world? And what can they do to gain these kinds of skills and insights? Here is some of the best advice provided to the college g
Heard at IASA: Top Quotes From the 2012 IASA Conference
With increased attendance for the third year in a row and a sold-out exhibit hall, this year’s IASA Educational Conference and Business Show in San Diego provided evidence of the insurance industry’s health and increased IT spending. It also highlighted ongoing challenges in the areas of customer experience and retention, data management and regulatory compliance. I&T highlights some of the most provocative statements heard at the conference.
8 Priorities for the 2012 IASA Annual Conference
Attendees at next week’s 2012 IASA Educational Conference and Business Show in San Diego are being encouraged to “Achieve Greatness” through networking, educational sessions and interaction with technology companies on the exhibit floor. Greatness may be elusive but there definitely will be a focus on hot topics such as data and analytics, financial management, distribution and mobile capabilities. I&T asked a cross-section of conference participants to identify their prioritie
What Makes a Great iPad App for Insurance Agents?
Best practices for creating a great policyholder experience on Apple's iPad are well established throughout the insurance industry. Now insurance organizations are discovering how to create the best applications for their agents and distributors.
Top Technologies for the 2012 Hurricane Season
The 2012 Atlantic hurricane season, which officially begins June 1, is likely to be relatively mild compared to recent years. But even a less-active season or a Category 1 storm places tremendous demands on insurance companies in terms of risk modeling and underwriting, catastrophe response and claims management/payments. Here’s a review of some of the key technologies and tools insurers must have in their arsenals to provide the right levels of service during the 2012 hurricane season.
What’s the Buzz at the 2012 ACORD LOMA Insurance Systems Forum?
Although an array of hot topics — including analytics, cloud computing, mobile technology and social media — will be on the agenda at next week’s 2012 ACORD LOMA Insurance Systems Forum in Orlando, conference participants will have their own priorities. I&T asked industry executives what they’ll be looking for at this year’s Forum.
8 Priorities for More Effective Mobile Security
Smartphone shipments are expected to reach 1.7 billion in 2017, forecasts telecommunications analyst Ovum – more evidence that the growth of the mobile channel presents opportunities for insurance companies in areas as diverse as distribution, claims and customer service. However, security remains a huge concern – especially as the bring-your-own-device movement means increasing volumes of sensitive corporate and client information are handled on mobile devices. To help insurers opti
Insurers Dodge a Bullet on Q1 Catastrophes
Although insurers’ exposure to costly catastrophes in the first quarter of 2012 was much less severe than what they experienced in the same period a year ago, they are facing new and complicated challenges in areas as diverse as healthcare claims, mobile security and domain/brand protection. Here’s some of what was top of mind for the industry this past week.
Talk of the Industry: Who Said What in Insurance and Technology This Week
People in the insurance and technology industries have been debating everything from social media analytics to regulatory uncertainty to policy administration modernization challenges. Insurance & Technology gathered some of these words of wisdom, concern and inquiry about some of the week’s most interesting developments that could influence the insurance business.
How Insurers Are Modernizing the Actuarial Environment
Market fluctuations, changes in consumer expectations and product designs, and new risk modeling techniques are increasing the pressure on carriers to modernize their approach to the actuarial sciences. What are the requirements of a modern actuarial environment, and what technologies can help insurers meet current and future modeling needs?
Top Quotes of The Week From The Insurance Tech Industry
Devastating tornadoes, confrontation over healthcare reform, examination of the risks and rewards of consumerization – all in a week’s work for the insurance industry. Insurance & Technology collected some of the words of wisdom, concern and inquiry from insurance executives and other industry influencers about some of the week’s big developments that could have a big impact on the insurance business.
Meet Insurance & Technology's 2011 Elite 8 Honorees
Insurance & Technology's 2011 Elite 8 honorees exemplify the qualities and skills required of today's senior insurance technology executives to lead their organizations' efforts to create business value and distinction.
CIOs' Favorite Tech Gadgets
You don't get to the elite level in the information technology industry without being a techie at heart. The 2011 Elite 8 reveal their favorite personal gadgets.
Elite 8 2010 Honorees: Where Are They Now?
Insurance & Technology caught up with many of the 2010 Elite 8 honorees to see how current challenges have reshaped their focus and responsibilities in the year since their recognition.