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News & Commentary
Content posted in May 2012
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8 Priorities for the 2012 IASA Annual Conference
Slideshows  |  5/31/2012  | 
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
Donegal Signs Valen for Predictive Analytics
News  |  5/31/2012  | 
The regional P&C insurer's goal is to gain more accurate pricing.
ACC Improves Serious Injury Case Management
News  |  5/31/2012  | 
The Accident Compensation Corp. leverages Fineos's claims platform to streamline chronic injury case management and enhance patient outcomes.
UK's Prudential to Buy Swiss Re's American Operations for $616 million
News  |  5/31/2012  | 
Britain's No.1 insurer Prudential on Thursday said it will buy SRLC America Holding Corp from Swiss Re AG for 398 million pounds in cash ($616 million) through its U.S. subsidiary, Jackson National Life.
Moving Forward With Mobile: Insurers Must Have the Right Expectations, Risks and Skills
Commentary  |  5/31/2012  | 
Optimism about growing mobile penetration combined with ongoing concern about security risks provides an uncertain context to insurers as they weigh their investments in the mobile channel.
Looking Forward to IASA: Aite Group’s Stephen Applebaum
Commentary  |  5/31/2012  | 
Hot topics discussed at the conference include business innovation and agile process transformation; the management and analysis of “big data”; a focus on customer-centricity; and evolving mobile and portal solutions for insurance distribution.
Delivering Mobile Business Intelligence for Insurance Agents
News  |  5/30/2012  | 
Primerica extends business intelligence to its distribution force using MeLLmo’s Roambi presentation layer solution for mobile devices.
John Hancock Names New Head of U.S. Life Insurance
News  |  5/30/2012  | 
Michael Doughty had worked in the Canadian division of John Hancock's parent company, Manulife.
State Farm Adds Ford Partnership to Usage-Based Insurance Program
News  |  5/30/2012  | 
Owners of vehicles equipped with Ford's Sync technology can use it to enroll in State Farm's Drive Safe & Save program.
What Makes a Great iPad App for Insurance Agents?
Slideshows  |  5/30/2012  | 
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.
iPads Enable Lincoln Financial's Wholesalers, Advisers to More Effectively Serve Clients
News  |  5/29/2012  | 
Providing wholesalers and advisers with mobile capabilities on Apple's iPad helps Lincoln Financial's distribution organization stand out, according to Rob Pal, head of Lincoln Financial Distributors.
RiverStone Group Selects Sapiens for Reinsurance Solution
News  |  5/29/2012  | 
The vendor will manage implementation of its Sapiens Reinsurance solution, to be completed by year-end, enabling RiverStone to augment its management and control of its reinsurance program.
Beryl Previews Hurricane Season by Soaking Southeast
News  |  5/29/2012  | 
The tropical storm caused mayhem in northern Florida and southern Georgia over the long weekend.
Two New York Blues Ink Benefitfocus
News  |  5/29/2012  | 
HealthNow New York, the parent company of BlueCross BlueShield of Western New York and BlueShield of Northeastern New York, plans to use the platform to provide employers healthcare enrollment and e-billing technology.
5 Steps Insurers Can Take to Meet Consumer Demand for e-Payment Capabilities
Commentary  |  5/29/2012  | 
The maturing of e-payments technology, changing customer demographics and the shift to a customer-centric approach to winning and retaining policyholders are combining to are compel insurers to change the way they interact with customers during the payment process. The author presents five steps toward adopting e-payments capabilities.
What's Next in BYOD Investment: Preventing Malware Attacks and Managing Costs
News  |  5/29/2012  | 
Today a robust mobile device management platform is a given. But what other software can help insurers feel secure about allowing employees to access the corporate network on personal devices?
Guardian Financial Announces $700,000 Sapiens Contract
News  |  5/25/2012  | 
The British life insurer will use the vendor's core systems platform.
Wells Fargo Expands Check Scanning: Opportunity for Agents?
Commentary  |  5/25/2012  | 
The bank has announced support for Panini scanners: Could their brokerage arm embrace them?
Bad User Experience Torpedoes Auto Insurance Customer Acquisition: J.D. Power
News  |  5/25/2012  | 
Not only will you lose a lead from a poor website experience, but that lead is likely to recommend that friends and family shop elsewhere, the company reports.
Security First Insurance Launches All-Inclusive Homeowners Insurance iPhone App
News  |  5/24/2012  | 
Security First Insurance launches all-inclusive homeowners insurance iPhone app; Florida-based insurer introduces app to streamline the claims process, in time for 2012 hurricane season.
Top Technologies for the 2012 Hurricane Season
Slideshows  |  5/24/2012  | 
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.
Q&A: Great-West Life Crafts Mobile Service Solutions for Group Benefit Customers and Plan Members
News  |  5/24/2012  | 
Brad Fedorchuk, VP, Group Marketing, talks about the opportunities and challenges of mobility, and how Great-West Life has created a strategy to complement its existing online and and call center capabilities.
North Carolina Fights Medicaid Fraud With Analytics
News  |  5/24/2012  | 
In two years, IBM data mining software has identified $191 million in potentially false Medicaid claims.
NOAA Sees "Near Normal" Atlantic Hurricane Season
News  |  5/24/2012  | 
The 2012 Atlantic hurricane season will be "near normal" with nine to 15 tropical storms and four to eight of those will strengthen into hurricanes, the U.S. government weather agency predicted on Thursday.
MetLife Targets Global Growth, Gets Bank Subpoenas
News  |  5/23/2012  | 
MetLife Inc will change `its product mix in the United States and push harder for growth in international markets to substantially boost returns by 2016, the largest U.S. life insurer said on Wednesday.
The Co-Operators to Implement HR Software
News  |  5/23/2012  | 
Ultimate Software's UltiPro will help the insurer be more precise with its workforce data.
Nautilus Selects MajescoMastek for Billing
News  |  5/23/2012  | 
The E&S carrier is looking to automate the billing process.
How to Meet Solvency II Requirements and Improve Decision Making Through an ERM Platform
Commentary  |  5/23/2012  | 
Insurers that replace their existing legacy technology solutions can not only achieve compliance and cost control goals, but also ultimately be able to make more informed business decisions across a range of functions — including strategy development, product pricing, profitability, reinsurance, and performance management.
SAP's Ariba Buy Opens New Front in Oracle Rivalry
News  |  5/23/2012  | 
Software company SAP AG's deal to buy Ariba Inc opens a new front in its battle with Oracle for the internet-based cloud computing market, raising the possibility of a counterbid from its arch rival.
Trillium Software Announces P&C Claims Data Quality Solution
News  |  5/22/2012  | 
The combined software and consulting solution uses a proven data quality methodology to assess and quantify data defects, deploy and apply insurance-centric business logic to measure impact, and manage and establish business-as-usual processes in order to automate data defect analysis and visualization.
Next-Gen Mobile Strategies Become Table Stakes Quickly
Commentary  |  5/22/2012  | 
It only takes a short time for insurers and vendors to ramp up mobile capabilities to match competition.
Online Insurance Exchanges Attract More Than $1 Billion in Grants
News  |  5/22/2012  | 
Recent federal investments in state health insurance exchanges bring total grant funding to more than $1 billion. Needed next: strong security.
Rules Gone Wild: The Growing Need to Get Business Rules Under Control
News  |  5/21/2012  | 
A world of rules-driven automation and decision-making requires more robust, and perhaps more insurance industry-specific rules governance discipline and technology.
WellPoint Selects FitOrbit Online Coaching
News  |  5/21/2012  | 
The obesity-fighting program was founded by Jake Steinfeld, known for his "Body By Jake" television show.
Humana Expect Lawsuit Cost to Affect Profit
News  |  5/21/2012  | 
Health insurer Humana Inc lowered its second-quarter and full-year 2012 earnings outlooks on Monday, citing costs to resolve a previously disclosed lawsuit.
Credit Insurer Has Reservations About Greek Crisis
News  |  5/21/2012  | 
Euler Hermes, the world's No. 1 trade credit insurer, said it might restrict the cover it provides to exporters doing business with Greece, citing fears the debt-laden nation could be forced out of the euro.
How To Build The Right IT Skills
Commentary  |  5/18/2012  | 
Every IT pro, no matter how senior, must always be in learning mode, but especially in a lackluster economy.
Top Quotes from the 2012 ACORD LOMA Insurance Systems Forum
Slideshows  |  5/18/2012  | 
The 2012 ACORD LOMA Insurance Systems Forum featured discussions about evolving technologies, including social media and telematics.
How Allstate Shed Stodgy Reputation in Favor of Innovation
Commentary  |  5/18/2012  | 
Changing the culture of the insurer was a challenge worth taking on, executives said — and social media helped.
Manulife, MetLife, Prudential Vie for ING's Asian Life Insurance Business
News  |  5/18/2012  | 
Global insurers Manulife Financial Corp, Metlife and Prudential Financial Corp are among suitors expected to place first-round bids on Friday to buy ING Groep's Asia life insurance unit in a deal worth about $6.5 billion to $7 billion, sources familiar with the matter said.
GEICO Launches Mobile Quoting for Motorcycle Insurance
News  |  5/18/2012  | 
Optimized for iOS, Android, and Windows Phone 7, policies can be purchased through a mobile web site.
ACORD LOMA Notes: Hyland Emphasizes Strategic Partnership, Mobile
Commentary  |  5/18/2012  | 
Hyland's Ed McQuiston sees opportunities for success in the background of core system modernization efforts, discusses customer appetite for guidance on mobility.
StoneRiver Releases New Life Insurance Distribution Platform
News  |  5/17/2012  | 
LifeApply aims to streamline new policy issuance in that business line.
SeaPass Extends Portal to Mobile
News  |  5/17/2012  | 
The company claims the new offering facilitates bring-your-own-device initiatives.
How to Implement High-Performance Underwriting With Lower IT Investment Risk
Commentary  |  5/17/2012  | 
Four functional imperatives underlie desktop underwriting solutions that consolidate multiple sources for risk evaluation, liberating underwriters from administrative tasks for higher-value work, and enabling reduced loss ratios and higher profit margins.
Utica National Uses SAS to Modernize Personal Lines Risk Models
News  |  5/16/2012  | 
The carrier is approaching a rearchitecting of risk models along the lines of what SVP Jose Trasancos calls a "rooftop" model, centered on customer and household.
MajescoMastek Adds Electronic Signatures, Other Mobile Apps to Elixir PAS
News  |  5/16/2012  | 
Version 6.0 of the Elixir policy administration system also features a new user interface.
News From 2012 ACORD LOMA: CSC Launches New Disability Income Claims Services
News  |  5/16/2012  | 
Disability income claims business process services include life-cycle adjudication and payment management.
ID Federation Draws Closer to Solving Password Problem
Commentary  |  5/16/2012  | 
Insurers and vendors join forces in nonprofit to identify login standards for independent agents.
SAS Inks Allstate, Mutual of Enumclaw
News  |  5/15/2012  | 
Fraud-fighting is a key driver behind both insurers' selections.
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