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News & Commentary
Content posted in June 2012
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California Bill Would Allow Electronic Auto Insurance Cards
News  |  6/29/2012  | 
If signed into law, California would become the seventh state to accept mobile insurance cards at traffic stops.
Navigating the "New Normal"
Commentary  |  6/29/2012  | 
In a business environment of changing customer and regulatory demands and challenging economic realities, insurers need to respond, and we have to respond profitably, quickly and flexibly to change with more customer-centric business models.
AIG to Resume Use of its Brand Name
News  |  6/29/2012  | 
Bailed-out insurer American International Group Inc will resume using its brand name in public in a move to recognize the company's turnaround, Chief Executive Bob Benmosche said on Thursday.
The Supreme Court Rules on the Affordable Care Act: What It Could Mean for Insurers
Slideshows  |  6/29/2012  | 
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
Streamlining the Health Insurance Compliance Process
Commentary  |  6/28/2012  | 
Health insurers must be careful when allocating government funds toward any claim. Misrouted claims leave carriers at risk for fines and even charges of fraud.
Now What? Figuring Out the Impact of the Supreme Court's Surprising Ruling on the Affordable Care Act
Commentary  |  6/28/2012  | 
For health insurers, the potential implications or the High Court's ruling upholding most of the ACA could affect everything from premium rates to fraud detection efforts to stock performance.
Regulatory Certainty Should Facilitate Health Insurance Innovation
Commentary  |  6/28/2012  | 
Now that the Affordable Care Act has survived the Supreme Court, insurers can focus on their compliance efforts without nagging doubts.
Health Insurance Individual Mandate Upheld By U.S. Supreme Court
News  |  6/28/2012  | 
The U.S. Supreme Court on Thursday upheld the centerpiece of President Barack Obama's signature healthcare overhaul law requiring that most Americans get insurance by 2014 or pay a financial penalty, a historic ruling that gave the White House a big win ahead of Obama's re-election bid in November.
Slow Growth, Regulation Driving Insurer Focus on Tech-Driven Operational Improvements, KPMG Survey
News  |  6/28/2012  | 
The three biggest technology areas respondents said would be funded were IT infrastructure, by far the largest, followed by customer growth or service, and data warehouses.
Health Insurance Mandate Constitutional — Early Reactions
Commentary  |  6/28/2012  | 
The Court held that the mandate within the Affordable Care Act to purchase health insurance is constitutional as long as states would only lose new federal funds if they fail to comply with the new requirements, rather than existing sources of healthcare-related funding.
Zurich Appoints New COO for North America
News  |  6/27/2012  | 
Brad Kass comes in as COO for global corporate in North America.
Intact Financial Selects Guidewire ClaimCenter
News  |  6/27/2012  | 
The Canadian P&C insurer will use the software in both personal and commercial lines.
Agencyport CEO Identifies Barriers to Best Agent-Carrier Workflow
News  |  6/27/2012  | 
Both vendors and insurers need to do a better job of innovating in order to provide the best experience to their agents, says Agencyport CEO Steve Hauck.
XL Group Touts "Dramatic" Website Redesign
News  |  6/26/2012  | 
Created with help from Brooklyn, N.Y. digital marketer Huge, the site provides a streamlined experience aimed at easing navigation for users who may not be familiar with XL and its products.
Minnesota Life Launches "Human Life Value" iPad Calculator App
News  |  6/26/2012  | 
Available from the App Store, the app lets financial advisors show clients their current economic value and potential earnings through retirement.
Harleysville, Allied Execs Laud Nationwide's Support of Independent Agent Channel
News  |  6/26/2012  | 
Executives from Allied Insurance, which Nationwide acquired in 1998, and Harleysville, which was added to the fold last year, tell Insurance & Technology that the mothership provides invaluable reach and support to the once-regional players.
Jackson Launches iPad App to Educated Distributors on New VA Product
News  |  6/26/2012  | 
The app is designed to help wholesalers educate financial advisors about Jackson's Elite Access variable annuity, which the carrier says enables greater portfolio diversification by using alternative asset classes.
Mercury Insurance Minimizes Risk, Maximizes Opportunity with Guidewire InsuranceSuite
News  |  6/25/2012  | 
The La Brea, Calif.-based insurer's greenfield initial implementation of a full core system suite in a new state paved the way for renovated systems and business processes across the enterprise.
Greek Life Insurer EFG Selects SAS For Solvency II Initiative
News  |  6/25/2012  | 
The company will use SAS Risk Management for Insurance to manage risks and calculate metrics to help meet Solvency II requirements.
Tropical Storm Debby Heads for Florida Coast
News  |  6/25/2012  | 
Tropical Storm Debby meandered slowly to the Florida coast on Sunday, bringing strong winds and waves that forced the closure of about a quarter of offshore oil and gas production in the Gulf of Mexico and spawning tornadoes that killed one person.
Esurance Sees Opportunity in Reducing Clicks-to-Buy
News  |  6/22/2012  | 
The carrier's VP of customer experience says the insurer is acutely aware of the pain points of consumers buying auto insurance online.
Survey: Insurers Expect Most Health Insurance Sold Via Exchanges in 5 Years
Commentary  |  6/22/2012  | 
And only four percent of respondents say they believe the country is on the right track when it comes to health insurance.
Online Auto Insurance Purchasing Momentum Continues: ComScore
News  |  6/22/2012  | 
The company's 2012 Online Auto Insurance Shopping Report finds more people saying they will purchase their next auto policy online.
How 2012 Grads Can Prepare for a Career in Insurance IT
Slideshows  |  6/22/2012  | 
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
Health Insurers to Pay $1.1 Billion in Rebates
News  |  6/22/2012  | 
U.S. health insurance companies are due to pay out $1.1 billion in rebates to employers and individuals this summer, under a new industry regulation imposed by President Barack Obama's health care law, the administration said on Thursday.
Is Insurance Always a Low-Touch Industry for Mobile?
Commentary  |  6/21/2012  | 
Conventional wisdom states that insurers aren't reached as much through the mobile channel as other financial services sectors. But there's one unique aspect of the insurance industry for which that is not the case.
Verint Enhances Its Vovici Enterprise Feedback Management Solution
News  |  6/21/2012  | 
A new "Insights" module extends analytics and reporting with embedded text analytics and interactive dashboards.
Health Insurers' Online Tools Give Consumers Purchasing Clout
News  |  6/20/2012  | 
United Healthcare and Aetna empower customers with online tools that estimate the cost and quality of medical care.
ISoftStone Releases Platform to Speed BI Deployment
News  |  6/20/2012  | 
The company's RapidStart suite is designed to help customers build, deploy and manage new technologies more efficiently.
Dallas Hail Insured Loss Estimate Halved
News  |  6/20/2012  | 
Insured losses from last week's violent hailstorm in Dallas should be just under $1 billion, a trade group for Texas insurers said on Tuesday, sharply less than what another industry group estimated last week.
US Assure Taps MajescoMastek for Billing and Agent Self-Service Solutions
News  |  6/19/2012  | 
The insurance program administrator will use STG Billing, STG Agent Self Service Portal and STG Electronic Billing Payment and Presentment solutions to replace its mainframe legacy environment.
Usage-Based Insurance Goes Mainstream (Video)
Commentary  |  6/19/2012  | 
As the market for programs grows, mainstream media have picked up coverage on the concept of telematics-powered usage-based auto insurance.
Starr Companies Launches iPad App
News  |  6/19/2012  | 
The app, which describes the company's insurance organization, is designed to express Starr's brand promise and vision.
Analysts Say Microsoft Tablet No Threat to iPad
News  |  6/19/2012  | 
Microsoft Corp's new tablet computers are no threat to Apple Inc's iPad, given the lack of enthusiasm among developers to create applications that run on the new Windows operating system, analysts said.
Microsoft Tackles iPad with Surface Tablet
News  |  6/19/2012  | 
Microsoft Corp introduced its own line of tablet computers on Monday at a much-hyped press event in Los Angeles, marking a major strategic shift for the software giant as it struggles to compete with Apple Inc and re-invent its aging Windows franchise.
Lessons Learned from Teaching the Next Generation of IT Professionals
News  |  6/18/2012  | 
What Great American CIO Piyush Singh learned about the character of up-and-coming IT professionals while teaching a graduate class at the University of Cincinnati.
Northwestern Mutual Releases Mobile Game
News  |  6/18/2012  | 
The game customizes financial tips for users and awards them with a score based on their responses to a variety of personal finance-related statements.
American General Upgrades Online Life Application Tool
News  |  6/18/2012  | 
Producers can now enter AG Quick Ticket through third-party illustration and quoting tools, as well as agency websites.
Employment Outlook Continues to Improve for Insurance Technology Sector
News  |  6/18/2012  | 
Hiring in the insurance technology sector is showing signs of life, and compensation for insurance IT staff is trending upward. But pay for IT managers is sliding.
Insurers Gain Productivity, Improved Service and a Modern Work Environment Through Workforce Optimization Initiatives
News  |  6/18/2012  | 
Workforce optimization technologies provide insurance companies with business agility and transparency into their processes, powering greater efficiency and productivity as well as a more engaging work environment.
Jackson National Teaches Recruiters, Colleges and Technology Professionals the Value of Working in Financial Services IT
News  |  6/15/2012  | 
Jackson National Life maintains a training and internship pipeline while engaging recruiters and educational institutions to attract outstanding technology professionals to the company's IT organization.
1,000 ING U.S. Employees Moving to Cognizant
News  |  6/15/2012  | 
Cognizant will hire more than 1,000 ING U.S. employees to create a "center of excellence" for insurance and finance business process services.
Insurers Sail Under "Winds of Change"
Commentary  |  6/15/2012  | 
Even as technology is driving change in the insurance industry more than ever, today's commerce is characterized by the human concerns of consumers, be they end-customers, customer-facing employees or even mobile app developers.
Insured Losses from Dallas Hail Could Hit $2 Billion
News  |  6/15/2012  | 
Insured losses from the massive hailstorms that struck the Dallas area on Wednesday could reach as much as $2 billion, based on the volume of claims insurers have already received, the Southwestern Insurance Information Service (SIIS) said on Friday.
Northwestern Mutual CIO: Tech Dominates Conversations With Producers, Customers
News  |  6/14/2012  | 
Tim Schaefer, CIO of Northwestern Mutual Life, said in a panel discussion that insurers can no longer hide the technology needed to meet business needs.
Two American National Subsidiaries Select Guidewire ClaimCenter
News  |  6/14/2012  | 
American National Property And Casualty Company and Farm Family Casualty Insurance Company will implement the claims system.
The Claims Data Quality Advantage: 4 Steps to Improved Claims Outcomes
Commentary  |  6/14/2012  | 
When claims data is accurate, claims professionals can make more informed decisions, enhance customer service due to shorter cycle times and a more proactive claims process, and ensure that metrics and performance benchmarks will be more precise.
How Insurance Companies Can Attract Top IT Talent
Commentary  |  6/13/2012  | 
It is getting harder for insurance IT organizations to attract the best and brightest technology talent, but there is no need to concede to other industries.
12 Core Competencies to Help Insurance Companies Close the IT Skills Gap
News  |  6/13/2012  | 
Developing the 21st century IT workforce requires insurance companies to not only integrate business and technology strategies, but also to rethink insurance IT professionals' core competencies, says Dan Roberts, Ouellette & Associates.
What Insurers Need to Know Before Adopting Agile Development
Slideshows  |  6/13/2012  | 
Adopting the Agile methodology for software development can be a challenge for insurance IT organizations, but the benefits of Agile Development outweigh the risks.
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