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Are You MMSEA Compliant? If Not, It Could Cost You By Jeremy Westerman, TIBCO Software Inc. By July 17, 2010, all insurance companies must be MMSEA (Medicare, Medicaid and SCHIP Extension Act of 2007) complaint per government mandate.
Security First Introduces Homeowners Insurance iPhone App Security First Insurance Company has unveiled an iPhone application that allows Florida homeowners to access insurance services remotely.
From Automation to Precision: Closing the Productivity Gap Properly understood, legacy system replacement is both more challenging and more valuable than mere process automation; it should ask more penetrating questions about how to improve underwriting, claim, and customer/producer satisfaction outcomes.
Honor Roll: This Week's Top Insurance Blogs (Oct. 25-31) Our favorite insurance technology-related blog posts from around the Web (October 25-31, 2009):
Society of Actuaries' New President Takes Office S. Michael McLaughlin, a principal with Deloitte Consulting LLP, will seek to expand awareness of the actuarial profession's preparedness to provide solutions to some of the insurance industry's most pressing challenges.
QBE Signs IBM to Strategic Infrastructure Outsourcing Contract The three-year contract will cover data center, network and end-user operations for QBE's U.K. and Western European operations.
Friday Video: Better Packaging for Financial Services Reform Whether you're a consumer or a financial services executive, you're probably unhappy with the pace of financial services reform. John Hodgman, The Daily Show's "Resident Expert," has some interesting ideas about how bankers can improve their image, encourage the public to express its outrage -- and make money, all at the same time.
Quebec Automobile Insurance Corp Implements Aperta/Parascript Payment Processing Solution The integrated solution has allowed the provincial government agency to remove post-encoding check verification tasks and batch preparation workloads, resulting in reduced labor costs, based in part on recognition rates above 90 percent enabled by Parascript's image analysis technology.
Mitchell International Expands Partnership with APU Solutions Used in conjunction with Mitchell's estimating solution, APU Solutions' PartsNetwork online, real-time alternative auto parts inventory search and procurement software will give carriers enhanced reporting capabilities on alternative parts selections and trends, Mitchell claims.
Mitchell International Acquires Collision Repair Photo Management Vendor Mitchell International has acquired ClaimTools Solutions, a digital camera and photo management solutions provider for collision repair centers, automotive dealerships and auto glass facilities.
Can Transparency into Healthcare Pricing Make A Difference? NY Attorney General Cuomo Announces New Fee Database One argument in the discussions about healthcare and health insurance reform is that more transparency into how services are priced and claims are paid will make the process more understandable, fair and effective.
Mutual of Omaha Goes into Production with FINEOS Claims The carrier will use the system to manage claims operations for its group employee benefits products, including short and long-term disability products.
Liberty Mutual Agency Markets Taps Combined Group Comparative Rating Tools Associated companies' agents can now access Combined Group's AgentDirectExpress and Quantum's RealTimeExpress in 21 states for business owners' policies.
Narragensett Bay Opts for Exigen Core Applications Delivered Via SaaS The Pawtucket, R.I.-based specialty P&C carrier chose the SaaS delivery of Exigen's PolicyCore, BillingCore and DistributionCore systems on the basis of security, flexibility, performance and scalability.
ING to Divest US Internet Bank ING has announced that it will divest its Internet bank, ING Direct USA, as part of a restructuring plan to separate its banking and insurance businesses required by regulators.
NYT: AIG Executive Exodus Greenberg's Fault If Greenberg were out of the picture, what would stop other companies from "poaching" executives, as the story characterizes the voluntary departure of executives for greener pastures?
H1N1 Flu Tracked By E-Prescription Data Public health officials in Rhode Island are electronically monitoring possible swine flu outbreaks based on drug data from pharmacies.
IT Departments Challenged in a Year of Crisis and Learning In driving senior technology executives to do more with less, the financial crisis clarified the capabilities that distinguish the most successful insurance CIOs in a rapidly changing business environment.
Northwestern Mutual Introduces Long Term Care Cost Calculator Northwestern Mutual (Milwaukee, Wis.) has launched a new online cost calculator to help users better understand the financial impact of long-term care needs.
Sircon Features Bulk Transactions in Producer Management Platform Update The new version of Sircon for carriers allows appointment requests to be processed for an entire set of producers from a simple spreadsheet upload with minimal effort, according to the vendor.
Nationwide Makes Executive Role Changes to Support Customer Service Strategy CEO Steve Rasmussen says spreading business expertise across the company will support the attraction and retention of customers of both insurance and financial services product lines.
NAU County Insurance, PEMCO Mutual and TRISTAR Risk Management Sign with Hyland Software NAU County Insurance, PEMCO Mutual and TRISTAR Risk Management have each selected Hyland Software's OnBase enterprise content management (ECM) software suite.
Honor Roll: This Week's Top Insurance Blogs (Oct. 18-24) Our favorite insurance technology-related blog posts from around the Web (October 18-24, 2009):
Bill Budde Joins INSTEC Bill Budde joins INSTEC as VP, Client Services & Solutions.
Co-Operators Life Selects SunGard iWorks For Group Business SunGard's Compass suite for policy administration enables future expansion of group business by providing support for group wealth and voluntary products.
(Anti-) Social Networking: I&T Imagines the Possibilities With the growing popularity of social networking, we imagine the possible musings of a 'typical' senior insurance IT executive on 'Facespace.' LOL!
Catching Up With I&T Elite 8 2008: Coping With Crisis Check in with some of last year's Elite 8 honorees to find out what IT leaders have been up to and how their roles may have changed in the past year.
To Align With the Future, IT Should Align With Customers Are insurance CIOs who aim to align IT with the business actually conceding that IT is not part of the business? Instead, asserts Bob Evans, SVP and Director, InformationWeek's Global CIO, they should align IT with the company's future: its customers.
Dell Finalizes $3.9 Billion Acquisition of Perot Systems Upon completion of the acquisition, anticipated to happen between Nov. 2009 and Jan. 2010, Perot Systems will become Dell's services unit.
Microsoft Launches Windows 7 The big news in software this morning is that Microsoft has launched Windows 7, the latest version of its computer operating system.
Esurance Signs Perot Systems to Five-Year IT Services Agreement Perot Systems will host the direct-to-consumer auto insurer's PeopleSoft application and provide service desk assistance.
Introducing "Insurance Focus" -- Novarica's Matt Josefowicz on 2010 Insurance IT Budgets (Video) In the first of a series of exclusive video interviews with Insurance & Technology, Matt Josefowicz, Director of the Insurance Practice at Novarica, offers his views on the prospects for insurance IT budgets in 2010, where spending will be targeted, and changes in the insurance IT buying process.
The New Compliance Environment, or "We're Not in Kansas Any More, Toto" What were considered acceptable controls in the past may well be deemed inadequate and non-compliant in the new world. The organizations that oversee financial reporting have said that if a company's controls were deemed to be deficient, the company could fail to meet SOX requirements even if no real problem existed.
John Hancock Life Unveils New Business Online Illustration System John Hancock Life Insurance has launched JH Illustrator.com, an online new business illustration system.
State Auto Implements GIS Pangea for Agent On-Boarding Ease-of-use and integration capabilities have helped to streamline State Auto's insurance licensing, background check and appointment processes.
CSC, TowersPerrin Partner on Financial Risk Solution for Life & Annuity Market The Financial Risk Intelligence solution manages data from source systems directly to Towers Perrin's financial modeling platform, enabling insurers to assess financial risk better, gain greater visibility into their data and its lineage, and satisfy regulatory and compliance demands, according to the vendors.
SAP Appoints Don Trotta New Head of Global Financial Services SAP appoints Don Trotta new head of Global Financial Services; responsibilities include product strategy, development and market positioning in insurance and banking.
Pinnacol Expands Valen Relationship The Colorado workers' comp carrier is following up a successful implementation of Valen's UnderRight predictive analytics solution with the vendor's AuditRight to ensure premium-to-exposure accuracy.
DTCC Releases Insurance Transaction Solution The multi-function support service enables insurance companies and distribution firms to exchange digital documents, signatures and forms during the pre-sale, new business and post-issue processing of annuity and life insurance information.
New York Life Names Gary J. Miller Head of Individual Policy Services Miller is responsible for all life insurance and annuity services to New York Life's more than four million policyholders.
Liberty Mutual Launches Teen Driving Web Site Liberty Mutual has introduced a new Web site featuring tools to facilitate responsible driving conversations between parents and teens.
QBE Europe Signs Outsourcing Deal With Accenture Accenture's provision of application development and maintenance services is aimed at helping to accelerate QBE Europe's transformation program.
Unirisx Appoints Marion Madden Non-Executive Chairman, London Markets Former R J Kiln & Co. executive's contribution will support SaaS global insurance service provider's effort to expand its presence in key markets in the U.K. and continental Europe.
Secrets of IT Talent Management: Workforce Risks Worth Taking Sometimes the less obvious candidates are the right ones when it comes to selecting your IT leadership team, says 2008 Elite 8 honoree Chuck Cornelio, EVP and chief administrative officer, Lincoln Financial Group.
Fixing the Insurance Systems Ecosystem By leveraging an enterprise architecture, insurance IT organizations can simplify their system portfolios, reducing maintenance burdens and improving development capabilities, according to 2006 Elite 8 honoree John Kellington, now SVP, ACORD.
ISCS Enters Strategic Partnership with ITS Data Services ITS will provide professional services for ISCS's SurePower Innovation P&C automation solution.
Honor Roll: This Week's Top Insurance Blogs (Oct. 11-17) Our favorite insurance technology-related blog posts from around the Web (October 11-17, 2009):
Pacific Life Eases Policy Performance Tracking for Agents The insurer's Web-based Planned Performance Tracking application's integration with its Navigator policy illustration system enables insurance professionals to complete a variety of service tasks with a few clicks of a mouse.
Narragansett Bay Insurance Selects Blue Wave Claims System Narragansett Bay Insurance Company has selected BlueWave Technology's PipelineClaims solutions as part of its Project APEX technology modernization initiative.
Marsh Selects Oracle Policy Admin, Revenue Management and Billing Oracle Insurance applications chosen to enable Marsh to provide end-to-end policy administration and billing processes across multiple lines of business for its customers, supporting the company's strategic BPO business.