Content posted in March 2005
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SunGard to Be Acquired by Private-Equity Firms
Company leadership denies likely breakup and says plans to spin off the company's backup-and-recovery services business have been halted.
Fireman’s Taps BearingPoint for Agency Management Implementation
Fireman's Fund has awarded BearingPoint a contract for the implementation of GlobeNet Technologies' Firestorm Compensation solution.
Up-Front Questions
Insurance firms can decrease the total time and effort required of a user seeking an accurate online quote by formalizing a process of asking a few basic questions up front.
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Berkshire said Buffett was not briefed on the transactions' structures, nor does it expect to restate its financial reports.
CSC Wins Contract With Chinese Insurer
CSC will provide insurance-administration software and related services under the $17.6 million contract.
Claims: Breaking With Tradition
Considering how central claims are to most insurers' business processes -- that, for most policyholders, their main interactions with their carriers are at the time of submitting and following through on a claim -- one would think that the industry would be more proficient at handling claims.
Claims: A Look Ahead at the Art and Science of Claim Technology
Industry and its technology vendors will continue to make impressive strides in automating various claims-related tasks, but the real change will come from improved integration of claims with other systems so companies can use claim data to improve a variety of products and services.
Claims: Wrestling the Reinsurance Claims Bear to the Ground
Sustained dissatisfaction with the status quo will trigger "the coming revolution" in the way claims are handled by reinsurers.
Disconnect Between IT and Top Management Is Growing
The disconnect between business and technology executives, unhealthy to begin with, is widening, according to a study released Wednesday by the A. T. Kearney management consulting firm.
https://www.informationweek.com/
Akhil Tripathi's technology leadership credits include stints as EVP and IT executive for the Fusura eAgency - an Internet exchange that he helped start for AIG (New York) - and managing director of Marsh Affinity and Private Client Services, a division of Marsh & McLennan (New York).
Downloading With Ease
Merchants Insurance Group (Buffalo, N.Y.; $154 million direct written premium) will deploy Houston-based Connective Technologies Inc.'s (CTI) TEAM-UP Download to provide its independent insurance agent network with platform-independent downloading capabilities.
Enhancements To AIR System Streamline Workflow
The latest releases of AIR Worldwide Corp.'s (Boston) CLASIC/2 and CATStation contain two enhancements - AIR ImportExpress and the CEDE database - that allow insurer, reinsurer and broker users to import, analyze and share catastrophe risk management data faster and more easily, the vendor claims.
Higher Adjucation
Medical management services provider Premier Healthcare Exchange (PHX; Summit, N.J.) has teamed with CareVu Corp.
Hancock Eyes Global Needs
Boston-based John Hancock made two appointments to its global compliance team.
American Modern Taps TiG
As part of its business transformation initiative, Amelia, Ohio-based American Modern Insurance Group (a subsidiary of the Midland Co., $54.2 million net income in 2004) licensed Hartford-based The Innovation Group's (TiG) TiG Conversion.
Optimizing Multi-Channel
Sales force automation and enterprise incentive compensation systems not only help make insurers' sales efforts more productive, they also improve customer service, customer retention and compliance.
Information Support
Bankers Life seeks to grow business by offering a new Web portal as a single point of information access to its captive agent sales force.
You’ve Got (potentially dangerous) Mail
Growing external e-mail threats and an evolving compliance and legal liability environment are forcing financial services firms to reevaluate their state of preparedness.
On the Move
Insurers increasingly are turning to mobile technologies to improve the productivity of their field forces, and they're improving their bottom lines along the way.
https://www.informationweek.com/
Mike Natan, CIO, OneBeacon Insurance Group- When Mike Natan took over as CIO of Boston-based OneBeacon in 2001, the struggling P&C insurer had just been acquired by White Mountains Insurance Group (Hamilton, Bermuda).
Turnover Turnaround
Noridian Mutual upgrades its exit interview process with Nobscot Corp.'s WebExit online exit interview management subscription service.
Speeding the Cycle
VantisLife closes an application information gap and reduces its underwriting business cycle with NaviSys' FrontOffice point-of-sale application.
BCBSA to Outsource to Unisys
Leveraging its 40-strong company membership, the Blue Cross Blue Shield Association (Chicago) has negotiated a claims administration outsourcing contract with Blue Bell, Pa.-based Unisys.
Full Steam Ahead
IBM expands while HP reorganizes.
The Big One
One of my favorite recreational activities is fishing, but it didn't start that way.
Man and Machine
ViPS STARSentinel technology helps Medical Mutual of Ohio rack up major fraud and inappropriate claims recovery.
Growing Through Distribution
MetLife to leverage infrastructure investments as part of distribution deal with Citigroup.
Whose Side Are You On?
Brokers are being pressured to provide more transparency into pricing and unbundle services, creating an opportunity for insurers to target buyers directly.
Better Off ... Maybe
Over the past few weeks there has been a lot of scary news about security breaches involving personal information...
Apogee Helps Merastar Transform
Merastar, a Chattanooga, Tenn.-based marketer of personal auto and homeowners insurance, saw a transformational opportunity in Steel Card's Web-based Apogee point-of-sale and policy administration solution.
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Chubb enhances Web site to provide producers and policyholders with a single, easy-to-use online platform.
Mapping Boosts Greater New York Insurance’s Business IQ
Greater New York Insurance is finding out that the ability to understand and analyze that information quickly can provide an edge in managing risk.
Security Chiefs Sit High On The Corporate Ladder
Survey says 44 percent of companies have put a member of senior management in charge of IT security.
Tillinghast: ERM Moves Toward the Mainstream
Due to corporate governance, regulations and expectations of financial transparence, senior level management has become more involved in the risk management process.
Trimming Online Quote Forms
In order to return an accurate and actionable quote, many questions must be asked of the customer, but carriers must also present them in ways not overwhelming to the user.
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