Content posted in June 2013
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USAA is Progressive's First Usage-Based Insurance Licensee
The companies announced today a usage-based insurance licensing agreement that will run for the next decade.
4 Keys To Maximizing Insurance Agents' Potential
To stay viable, agents must be integrated with Internet, social media and mobile capabilities, so that customers can obtain information and quotes through their chosen channel.
5 Organizational Considerations for Insurance Analytics Teams
How do insurance organizations that are just beginning their analytics journey build enthusiasm and executive support?
4 Key Takeaways from This Week's Insurance Technology Research
It was a big week for surveys of insurance technologists. Here are some of the most interesting insights researchers gleaned, including e-commerce’s ascendance and regulatory concerns.
Are Insurers Ready for Technological Disruption?
No line of business is safe from the revolution in insurance distribution and customer interaction.
Genworth Launches Virtual Community to Help Producers Move Index Products
Producers requested aid in understanding and selling complex index insurance.
Tesco Bank Enters Usage-Based Insurance Sector
The U.K. bank has introduced a telematics-powered usage-based insurance program targeted at young drivers.
Regulation Driving Big Tech Changes at Insurance Companies: Studies
New research out today from Towers Watson and State Street indicates that regulatory compliance is --directly and indirectly -- shaping insurance companies' IT strategies.
Risk Management's Evolution In Insurance
Big data and regulatory change are two factors in risk management's increased complexity and importance for the insurance industry.
Hyland, DocuSign Partner to Bring E-Signatures to More Agents
The ECM and e-signature partnership extends the reach of e-signature capabilities.
Insurers Must Prepare For Big Data's Impact On ERM
The rapidly increasing volume, variety and velocity of information circulation will affect how insurers manage enterprise risk, but many carriers are struggling with the basic problems of data aggregation, integration and governance.
Usage-Based Insurance Sector is About to Get Crowded
Automakers and OEMs are vying to get a foothold in the rapidly heating world of telematics-powered usage-based insurance.
Is Insurance A Local Business?
Though there are dominant national players, policyholders tend to be most satisfied with carriers that are headquartered in their area, J.D. Power research suggests.
Amica Mutual Moves to Cloud for HR Systems
Like many other insurers, the company has opted to leverage the cloud for a non-core system by adopting Ultimate Software's Ulti-Pro.
DTCC Leverages Carrier, Vendor Data in Producer Training Tracker
The Producer Management Portal allows carriers and distributors to effectively share, track and verify state-mandated annuity training completions by producers.
There's No IT Leadership without Committed Followers
No great movements or team accomplishments of any kind happen without commitment on the part of leaders and followers, urges executive coaching consultant Catherine Stagg-Macey, formerly of Celent.
7 Reasons Life Insurance Data Investment is On The Rise
Life insurers are working harder to adapt to an increasingly digital world of customer acquisition with big-time investments in data, according to research from Mark Breading of SMA.
Harford Mutual Opts for End-to-End Core Systems from Guidewire
The insurer will implement all components of the Guidewire Insurance Suite plus several add-on modules.
Allianz Life Policy System Revamp Supports 'Digitalization' of Product and Service
Executives for the life insurance company are confident that the carrier's shift to Accenture's ALIP system will help it better serve customers in the future.
Care West Insurance Engages Valen Analytics for Improve Underwriting Performance
The carrier will utilize Valen's Predict risk selection and pricing tool to drive improved underwriting for both existing business segments and in support of the carrier's growth strategy into other areas.
CIOs Must Be Leaders, Not Mere Technocrats
Technical competence is never enough, at least not for inspiring excellence in execution in others, helping them to be better than the teams you're competing against.
Most Insurers Seek Integrated Core Platform: SAP Survey
A survey of 203 insurance executives at the IASA conference this month provides a look into core replacement strategies.
National Western Life Replaces Existing eApp With StoneRiver LifeApply
The carrier's goal was to implement a solution that would provide greater self-sufficiency, enabling the company to better respond to market and product changes with less reliance on the technology vendor.
Farmers Taps Yahoo Vet to Lead Digital Strategy
Patrizio Spagnoletto last served as VP of global marketing services for the Internet company.
MEDfx Gets Michigan Designation as SSA Disability eClaims Tech Provider
Michigan's State Health Information Network (MiHIN) will offer MEDfx to hospitals and health systems through sub-state Health Information Exchanges (HIEs) across the state.
Northwestern Mutual’s Enterprise Venture Fund Drives New Tech Adoption
The Milwaukee, Wisc.-based life insurer has taken the risk out of leading-edge technology exploration by creating a dedicated fund and project team.
Gartner: Personal Loss Control Could Reduce Losses 20% by 2015
What a new Gartner report terms "active loss prevention" could usher in a new era of insurer/policyholder cooperation in the prevention of loss of property and person — potentially reshaping consumers' perception of the value of the insurance industry.
Tech Must Play Critical Role in Berkshire Hathaway Specialty Debut
Start up ventures without legacy burdens enjoy a great opportunity for a forward-looking management team to really embed analytics and digital communications into their strategy, but others can leverage technology for specialty success, suggests Martina Conlon, Novarica.
The Philadelphia Contributorship Chooses ISCS SurePower Innovation Suite
The Ben Franklin-founded company set out to find a core systems solution that could meet expectations of producers and insureds for service and information access, while providing internal process efficiencies and continual upgrades as technology advances.
Three Insurers Take The Plunge Into Telehealth
Two Blue plans are piloting American Well online and mobile health services, while Humana Cares selects a new provider for a congestive heart failure initiative.
Lincoln Financial Distributors' Tech Strategy: Be Producer-Centric
The insurer says it is dedicated to making producers' jobs easier and less paper-intensive by developing proprietary digital tools.
Application Performance: A New Competitive Advantage in Insurance
Many insurers struggle to proactively monitor and manage application delivery chains. What does it take to deliver round-the-clock service, with applications that work everywhere, all the time?
FIO and NYDFS: A Tale of Two Reports
New York Insurance Commissioner Ben Lawsky's criticism of captive reinsurance deals appears sensationalist in light of the yesterday's FIO report and industry-side statements.
Insurers Still Waiting for Regulatory Modernization Report
Yesterday's release of an informational report by the Federal Insurance Office was a nice start, but for people in the insurance industry, only increases the hunger for the main event.
FirstBest Integrates Verisk Data with Underwriting Suite
Version 5.0 of the company's Front Office Suite for underwriters includes integration with multiple data sources from Verisk Analytics' underwriting division.
What Kinds of Regulatory Compliance Tech are on Insurers' Agenda?
Insurance companies are investing in technology to help them manage compliance -- but not all solutions are created equal.
4 Key Issues from the Long-Delayed FIO Report
The Federal Insurance Office's first annual report on the U.S. insurance industry, mandated by the Dodd-Frank law, came out -- more than a year late -- today. Here's a quick, early look at what the body is following.
IPartners Signs South African Insurer
Hannover Re subsidiary Compass Insurance will use iPartners for BI and data warehousing.
4 Reasons to Invest in Direct Commercial Insurance Sales Platforms
Deloitte's recent "Voice of the Small-Business Insurance Consumer" survey finds the market quite ready for direct online sales.
Travelers Acquires Dominion of Canada
The $1.1 billion transaction is expected to close in the fourth quarter of this year.
ING Poland Drives Engagement with Customers and Associates
CIO Pawel Brzeksi and vendor technical lead Michal Majcher recounted ING Poland’s journey from case management to customer engagement at the PegaWORLD user group meeting at the Rosen Shingle Creek resort in Orlando, Fla.
10 Top Tweets from #IASA2013
Twitter activity around the IASA Educational Conference and Business Show increased this year with the promise of an iPad Mini to one prolific Tweeter. Here's some of the highlights.
Big Data's Consumerization Angle
As with mobile and social media, insurance company employees increasingly expect to have access to analytics and big data capabilities.
ACE Upgrades Portal for Multinational Clients, Self-Insured First
New additions to the Worldview portal include functionality around claims.
More Analytics of Ingenie Telematics Data on the Horizon
The U.K. company, which offers telematics-only insurance to young drivers, is working with SAS to do more analysis on its driving data.
IASA Trend Watch: Mobile
Product launches reveal that insurers are demanding mobility solutions above all else from the vendor community.
Insurer Says Blue Cod Solution Stood Test of Super Storm Sandy
Narragansett Bay Insurance’s dynamic reaction plan and Blue Cod’s services enabled the carrier to handle more than double anticipated claims.
3 Technologies Changing P&C Insurance Distribution
The P&C industry is incredibly competitive, with companies big and small fighting for market share. Here are some of the technologies they're using to help differentiate their sales processes.
Is Big Data Insurers' Savior — Or Destroyer?
Industry experts are warning that if insurance companies don’t master analytics and big data, someone else will — presenting a devastating competitive challenge.
Tech-Enabled Closers Pursue Golden Leads in Insurance Sales
Strong sales cultures within insurance organizations won't be fading, but they're sure to be reshaped by the IT megatrends of big data, mobility and social media.
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