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 Christine Hintze

Profile of Christine Hintze

Blog Posts: 81
Articles by Christine Hintze

Software Testing Needs to Catch Up With Software Development

If you are seeking to improve your software development process, look beyond just the IDE or code-generation packages. Assess your software testing practices and automation techniques to make sure that you are not stuck with a 1980's automation model.

When it Comes to Paying Their bills, Insurance Customers Want Choices

MasterCard estimates that consumers make 58 payment choices each month, whether paying bills or purchasing merchandise from retail locations or online. It is proven that consumers are accustomed to various payment platforms, and enjoy the flexibility in how they pay for things.

Telematics: Reinventing Auto Insurance Part III

In our previous entry on telematics, we addressed the opportunities and challenges the industry has faced in adopting telematics, and the measures that will increase the likelihood of success. This article looks at some of the possible business models insurance companies can adopt around telematics.

The Built-to-Last User Interface – Built to Fit and Built to Change

Servicing the users is only going to get more complex as the anywhere, anytime, with almost any device user expectations and processing needs continue to proliferate. As a result, investigating and establishing a presentation architecture and presentation layer should be on every insurer's to-do list.

Telematics: Reinventing Auto Insurance Part II

Developing unique products and finding new ways to offer value to customers are critical issues for insurance companies. At the same time, a bad experience with a new technology will upset customers and could drive them away. Controls must be in place to ensure that telematics offerings don't damage the brand.

High Performance Computing For Competitive Decision-Making

Those who effectively utilize the full potential of high performance computing and the advanced analytics that it enables will be able to make the most informed and timely risk-based decisions. And, those that make the most informed and timely decisions. are those that lead their industries.

Tapping Analytics to Fight Internal Insurance Fraud

The analytical approaches discussed aid the detection of internal fraud. But the key to success of any model lies in understanding the business challenges and adopting the right analytical approach coupled with domain expertise.

Time to Raise the Bar on Claims Performance

In a low- or no-growth environment in which each customer gained is typically won from another insurer, a high-performing claims processing system providing predictable, efficient and high-quality service provides a key competitive advantage.

Getting Your Share of the Software Acquisition Budget

There is value in automating employment application tracking, balancing the books, or reducing the cycle time of the claim process, but it must be expressed in clear cost benefit analysis (CBA) to support software acquisition. Business benefits can augment a CBA for these departments, but they will not stand on their own.

Visualizing Data for Value

The real issue is not in the amount or type of data, or even in how it is structured, but it is in the fact that organizations often lack the skills and tools to visually represent the data in a way that makes it immediately relevant and actionable.

Leveraging Text Mining in Insurance

Recent advances in text mining technologies have made it possible to harvest valuable information buried in unstructured data and leverage it for business results.

How Process Automation Can Drive Customer Retention

What if it takes, on average, five steps to process a customer interaction and on average there are 2,000 interactions per day? This means there are 10,000 opportunities for an error with customers! Errors contribute to customer disloyalty, which in turn leads to lost revenue. This is where technology interoperability comes into play, and where properly applying technology customized to the organizational needs can help.

Driving Retention and Customer Lifetime Value Through Customer Experience Management

Focusing on just adaptive learning models and tailored retention strategies could help organizations achieve significant benefits through a more accurate understanding of which value-generating customers are "at risk" of defecting, so that scarce resources can be refocused where it matters using tools that facilitate relevant customer-centric conversations.

Breaking Down Silos with Enterprise Workforce Optimization

Recently, a number of insurance providers have turned to workforce optimization (WFO) software to drive enterprise-wide performance improvements. Historically, WFO has been proven in the contact center. Today, the next-generation offering has evolved creating a robust system that supports not only the contact center, but also complex back-office operations.

Molecular Diagnostics: The Case for Targeted, Recurring Analytics

Staying a step ahead of emerging technology doesn't happen by accident. Total gene profiling and molecular therapeutics are right around the corner. Considering the rapid growth in molecular and genetic diagnostic testing, it is critical for health plans to develop utilization management strategies today that employ a smart, targeted and recurring analytics approach.

The Plan for Alternative Sourcing: From Strategy to Monitoring

Successful programs require a disciplined, holistic approach, including a strategic concept and a comprehensive plan, to avoid these common risks. Successfully completed, these closely related steps set the stage for the subsequent transition and monitor phases.

Transition of Alternative Sourcing Strategies: Making The Move to Value

A case could be made that transition is ultimately the most important step in alternative sourcing. After all, even the strongest business case will fail if the transition breaks down. Successful transitions are enabled by a strong strategic concept and comprehensive plan, and extend through effective monitoring of ongoing operations

Integrating a Customer Value Currency across the Enterprise

Insurance carriers spend billions each year to acquire customers and increase customer loyalty. Yet most initiatives fail to deliver the expected results for the simple reason that no direct, measurable connection can be made between each initiative and the resulting consumer behavior.

Creating a Customer Value Currency

An insurance company could develop its customer value currency definition using easily predictable dimensions, such as average premium for a single product and retention rates. To enhance the effectiveness of the customer currency metric, other factors, such as loss and multi-product premiums, can be added later.

Improving the Quality of Insurance IT Applications: a Three-Part Series

Current economic conditions have put insurance companies in a bind. The pressure to recapture pre-2008 revenue and profit margins is intense. But achieving these business goals requires rapidly developing IT applications and enhancing existing ones in ways that escalate IT complex

Telematics: Reinventing Auto Insurance

For insurers, winning in this market will be a major area of differentiation as they improve their risk management, heighten the safety of their drivers, reduce claim costs and draw in new customers.

Risk Management Implications for CIOs in a Challenging Year

Whether they aim to thrive, or merely survive, the current atmosphere of change puts a premium on CIOs as risk managers. With failures splashed across the news, the question is how to make IT-related risk management easier and more effective.

IT Operating Models That Meet Today's Challenges

New IT operating model capabilities are enabling insurers to take on "sacred cow" topics that have plagued the industry. As insurers adopt these capabilities, IT professionals are enjoying greater influence and are making a greater business impact. IT does matter and these operating models are making a difference.

How Multi-line Insurance Companies Can Improve the Customer Experience

Capabilities within multiline companies are not owned by one organizational team, but may be spread across product lines. For example, the auto division may have its own payment capability, and the life division its own. To make matters worse, the "sales process" described above may also be different for the product lines. The result of process, capability and business silos, shows up as lousy customer experience.

Technology Can Help Life Insurers Go Where the Customers Are

The retail industry has developed very sophisticated and precise models to evaluate where storefronts should be placed. Winning carriers will need to develop similar virtual market coverage models, leveraging analytics to determine exactly where to place sales capacity.

5 Issues Undermining Your Multi-Channel Marketing Efforts

Successful multi-channel marketing investments depend on a clear, consistent understanding among all stakeholders about sales and service. That's where information comes in. In many cases, the CIO is in the best position to collect information about customer behavior and to use the analytical tools necessary to analyze data across all channels.

Leading Through the Morass of Multi-Channel Marketing

The CIO who can help lead the company out of the multi-channel morass will be a hero. And the company that succeeds will be using information in ways that are more valuable than the sum of their parts in attracting and retaining customers. In the next issue, we'll outline how successful insurers are overcoming five key issues that threaten multi-channel marketing efforts.

Leveraging BPM in a Business Transformation Framework

By Neal Lohmann, Director of Business Transformation Solutions, Metastorm, Inc. As the financial services industry begins its slow recovery, what role will "business transformation practices" play in helping companies streamline operational costs and improve balance sheets? Business transformation practices are comprised of management methodologies used to identify, design and deploy business change in order to improve or maintain market position. Over the past year, management teams ha

Consolidating Rating and Underwriting to Compete in the Modern Insurance Market

Consolidating onto a single rating engine enables the agility and efficiency that insurers require to effectively compete in the modern insurance market. With a streamlined rating approach, insurers can rapidly adapt to market changes and capitalize on new business opportunities, while reducing IT costs to optimize profits.

Pre-Launch Practices to Accelerate Your Insurance IT Initiative

By Chad Sands, manager, P&C systems, State Farm Insurance Cos. Large initiatives often fail to live up to expectations not only due to their size and complexity, but also due to the number of interested parties and competing priorities they tend to attract. Leadership decisions prior to the launch of a large initiative do more to establish its ultimate trajectory than perhaps any other factor. The following are three practices which can help ensure your initiative launches with the best chanc

Best Practices: Replacing Legacy Policy Production Systems

The recent announcements regarding some of the older policy production systems being discontinued has flooded the market with conflicting messages concerning next steps and which document solution is best. Whether your current policy production solution is outdated, inefficient or sun-setting, there are a number of factors to consider before replacing it.

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.

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.

Getting New Value from Legacy Life Insurance Business

Taking out costs associated with maintaining closed blocks and legacy systems is a key opportunity to find funding for new initiatives and products. This is where most companies struggle - reducing closed block costs is desired, but the achievement of any significant reductions is elusive, with limited options available.

Claims Analytics: Using Predictive Analytics to Optimize Your Claims Processes

By Stuart Rose, global insurance marketing manager, SAS There are no easy ways to grow revenue, increase profit or improve market share in the insurance industry right now. Increasingly, insurers need to look internally to trim expenses and improve business processes. One way to do this is to use predictive claims analytics to optimize loss reserves, increase productivity and assist in preventing fraud.

Five Things You Should Know Before Selecting a BPO Partner

Business Process Outsourcing (BPO), the end-to-end outsourcing of a business line or process, can boost business performance by reducing costs, increasing the quality of processes, accelerating transformation throughout a business, creating a more flexible response to sudden external stresses, or through a combination of several benefits.

65,000 Apps and Counting: Legacy System Nightmare or Brilliant IT Strategy?

While 65,000 apps per company isn't the right goal, small and nimble is. Before embarking on a giant, lumbering technology initiative for your giant, lumbering insurance company, think carefully about isolating and attacking the key areas of opportunity with laser-focused mini-apps. While their footprint may be small, their impact on your business can be unmistakable.

Top 10 Reasons CRM Has Fallen Short in Commercial Insurance

Growth-focused agencies and insurers are limited by horizontal CRM systems. The most successful sales organizations are realizing the advantages of enterprise sales collaboration and search technology designed with their unique needs in mind.

The Insurance IT Quandary: Balancing On-Premise, Captive and Outsourced IT Solutions

Industry upheaval has created a real opportunity for insurers to re-evaluate their approach to automation, integration, and sourcing. By addressing their legacy systems through a blended IT approach, insurers can enhance their competitiveness and viability for both the short and long terms. This may well be the ideal time to rethink insurance IT.

The Future of Insurance Sales and Distribution

By Greg Webber, President, Insurance Systems, SunGard Recently, one of my children graduated from university, which led to one of those typical (father to son) financial responsibility discussions. In this case, we were talking about the need for him to purchase his own automobile insurance.

The SaaS Revolution and Insurance Distribution: Using SaaS-based Distribution Platforms

SaaS offers insurance companies the opportunity to make some real improvements to their distribution channels, with faster returns and lower up-front investments than ever before. It is, however, still more than a simple flip of a switch. A successful implementation still depends on getting the basics right and being aware of what new challenges need to be addressed.

Outsourcing Compliance: are you playing Russian Roulette with your data?

Customers expect their personal data to be protected. So how can companies that handle the confidential customer information outsource certain functions and still ensure that their data is safe? The gold standard for privacy and security practices is the American Institute of Certified Public Accountants' (AICPA) Statement on Auditing Standards, No. 70 (SAS 70).

The Five C's of Insurance Customer Value Optimization

The current economic shakeout presents an opportunity for insurance carriers that are looking to position themselves for long-term success. With limited options for making money on their investments, insurers should seize the opportunity to create sustainable profitability from their insurance operations by delivering greater value to customers.

The Strategic Concept of Alternative Sourcing: A Blueprint for Success

Concepting is about internal due diligence, and asking "Why should we outsource?" and "How will alternative sourcing help us achieve our strategic goals?" Certainly it helps answer the most popular outsourcing question "How much can we save?" But, most importantly a strategically developed concept helps you realize those savings.

Can Dynamic Business User Interfaces Replace IT?

The question on the minds of senior executives now is whether there are now or will soon be any solutions on the market that will enable them to completely eliminate the involvement in IT in changes they need to implement in order to quickly meet the requirements of the marketplace.

PAS, Legacy Replacement and Honda Accords

The biggest danger for most carriers is not failing to survive the downturn, but rather failing to be competitive as it ends. Long sales and implementation lifecycles mean that carriers trying to get ready for the upswing are already late in starting the process if they haven't already, and few project alternatives offer similarly strong business cases while also being competitive necessities. As a result, we're not likely to see the trend of core systems replacement end anytime soon.

Implementing a New Policy Administration Platform? Don't Pave the Cow Path!

Implementing a new policy administration platform provides the perfect opportunity to evaluate your entire business model. Compare it to souping-up your car: you would not drop in a new, more powerful engine without also considering your tires, brakes and other critical components required to maximize performance.

Data Driven Organizations: Knowing the Unknown

The old but often downplayed adage that "it's better to know what you don't know" should bring the importance of information to the forefront and increase the sense of urgency for insurance organizations to be more data driven.

Death to the "Reply All" Button

It is time to look at simplifying our daily work lives and eliminate unproductive tasks, processes and work. E-mail, a very useful and powerful tool, has become a major productivity drag on firms due to misuse and abuse.

Behind the Curtain: Empowering Actuaries to Improve Risk Management

Technology can provide the means for actuaries to deliver better, more timely risk assessments, improved awareness, greater understanding, and actionable risk information to the organization. With the recent financial turbulence, delivering these types of improvements is of critical importance.

Partnering for Data-Driven Financial Planning and Analysis

The CIO needs to understand the finance team's requirements around budgeting, planning, forecasting, scenario planning, measuring KPI's and analytics. The important thing here is determining what's critical for executives and business group leaders to run the business, manage P&L's and cost centers, and make informed decisions.

Will Insurers Spend More or Less in 2009?

Given withering investment income, insurers may tighten their underwriting discipline and begin to raise rates. Such a strategy could reverse the current soft market plaguing the non-life market in general and commercial lines in particular and usher in a period of greater underwriting profitability.

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.

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