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.
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.
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.
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.
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?
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.
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.
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.
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.
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.