CSC Unveils Java-based Policy Admin System
The release of POINT IN J gives CSC entree into the growing market for rules-based policy administration platforms and undermines charges that the vendor has placed insufficient focus on the development of newer technology platforms.
The Wrong Argument for OFC
While insurance companies are exposed to the credit crisis as institutional investors, their fortunes stand in stark contrast to their industry peers because of the conservative regulation to which they have been subject under the state-based regulatory regime, as NAIC president Sandy Praeger argues,
FINEOS Partners With Secure EDI
The Dublin-based financial services IT vendor's alliance with Secure EDI will boost the capabilities of its end-to-end dental claims solution.
AIG Fallout: Pricing and Risk Management
An Advisen briefing speculates that if there is a "stampede" by AIG policyholders spooked by the holding company's failure, it would likely precipitate a "sudden, short-term uptick in commercial insurance rates." In the absence of such a reaction, the briefing continues, "prevailing soft market conditions are unlikely to be affected."
Oracle Launches Insurance Vertical Industry Division
Oracle Insurance will market a comprehensive offering of products — from core applications to pre-configured suites and integration tools to tie together both Oracle and non-Oracle solutions within an insurer's application portfolio.
Getting Privacy Right in Pay-Per-Drive
Through its MyRate program, Progressive supplies a small, portable device that can easily be plugged into the on-board diagnostic (OBD) port of many car models built after 1996. The device delivers a much richer portrait of driver behavior than Real Insurance's mileage-only plan by recording mileage, braking and acceleration, and time of day. The device periodically transmits that information wirelessly back to Progressive.
Reflections on the AIG Bailout
In the insurance technology space, analysts wouldn't say that Enterprise Risk Management (ERM) technologies could have prevented the financial crisis that many companies find themselves in, but some did suggest that the current situation should serve as compelling evidence of the need for wider adoption of ERM and analytical tools, as well as better corporate governance around risk.
Risk Modeling and Wishful Thinking
The fact is that risk modeling, like so many other control methods, can be used to mask as well as reveal reality. As useful, indeed as indispensable, as risk modeling is to project future probability it is nevertheless subject to one of the cardinal maxims of information technology: garbage in, garbage out.
A Mystery Player Enters the Individual Health Market
Perhaps one big difference in how the individual market will develop will be the emergence of niche players. Traditionally, health insurance hasn't been marketed to individuals, so it's possible that health insurers aren't adept at reaching targeted segments of the population. As the individual market emerges, however, that will have to change.
As Ike Approaches, Insurers Urge Caution
Insurers warn Texas homeowners not to be lulled into a false sense of security by the failure of recent tropical cyclones to result in catastrophe on the mainland.
Lessons Learned from Microsoft's Bill Gates/Jerry Seinfeld Ad Spot
I'm not at all sure that it is accurate to describe Microsoft's latest ad campaign, which recently kicked off with a television commercial starring both Jerry Seinfeld and Bill Gates, as viral marketing. After all, viral campaigns don't start out with national TV spots featuring two of the world 's most famous individuals.
IFRS Compliance: Technology Architecture is Key
Understanding the technical accounting involved with adjusting financial statements for the three year period prior to conversion, as required by the IFRS Roadmap, is clearly only the starting point. Execution and success will depend on understanding and implementing the appropriate financial and reporting technology architecture.