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As the national debt self-indulgence hangover throbs on, any remaining voices crying, "No Money Down!", "Buy Now Pay Later" or "First Six Months Free!" are increasingly greeted with scorn and resentment. Those whom consumers might have seen before as allies towards common gain are now viewed as charlatans and crooks. Special venom is reserved for those whose resort to false promises when pretending to address the snares of consumer credit, as the following video shows:
I'm not sure how many people are familiar with Esquire magazine's occasional mock obituaries feature, but I came across one from last March that I thought was particularly funny and -- in a time when companies and their marketing departments often declare themselves to be "green," without the policies and practices in place to back it up -- particularly poignant.
The notion that carriers will be spending liberally in 2009 is borne out by carriers' late 2008 budget projections, and subsequent research on their current activity. My own conversations with industry contacts have provided abundant corroboration. To give one example among many, a senior technology officer at a large P&C carrier recently said to me that whatever his company's troubles, with regard to technology spending, "our appetite is no less than it was last year."
Opponents of the National Insurance Consumer Protection and Regulatory Modernization Act (NICPRMA) call the bill an attempt to shoehorn optional federal charter into government regulatory activity meant to address systemic risk within financial services, while other observers offer qualified support.
This represents success on the part of carrier IT organizations from a technical standpoint, and on the part of the carriers generally in terms of their relationships with their independent distributors. It also represents a threat to carriers who are yet to provide real-time functionality to their agents, but that will push further penetration of the related technologies through the carrier community.
Research Reveals Most agents and growing number of carriers are using Real Time functionality, according to new research. Popular uses include inquiries, endorsement processing, rating, agency management.
Nexidia professional services worked with BlueCross BlueShield of Tennessee to implement call driver and average handle time analysis for reprocessed claims, plan to plan unit calls, medical records calls, duplicate claims calls, and other areas.
For most insurers, business intelligence means point solutions at best. But those carriers that weave analytics into the fabric of their organizations are equipped to drive more precision in pricing and greater profitability to the bottom line.