Profile of Greg MacSweeneyEditorial Director
Member Since: 5/8/2014
Blog Posts: 284
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology.
Articles by Greg MacSweeney
Insourcing is becoming more common as businesses try to leverage newer technologies and tools to create business opportunities.
Julio Gomez, the founder of Gomez, Inc. and Innovation Councils, has joined Attivio to help it expand in the financial services industry.
Insurers will begin to roll out effective Web services initiatives, while striving to comply with a myriad of regulations, industry experts predict
As part of its effort to remove paper from the reporting process, Providence Washington Insurance Co
Sherwood unit runs separately, but new products to come this year
To better serve the employee benefits marketplace, Applied Systems (University Park, Ill.) is teaming with San Francisco-based BenefitPoint
Insurance & Technology asks a panel of distinguished industry observers what the new year will bring for senior technology executives of insurance companies.
Carrier partners with Bank of America to develop e-payments tech.
In order to tap into the EIM market in financial services, estimated by Giga Information Group to grow at a compound annual growth rate of 40 percent through 2005, Callidus Software has partnered with IBM.
As the Senate Committee on Commerce reviews the adequacy of state-based insurance regulation, segments of the industry are quickly taking sides.
One thing's for sure: A monolithic approach won't work. Depending on the particular application and platform, insurers' legacy replacement/enhancement strategies vary widely according to the project specifics.
Siebel Systems' recent acquisitions of UpShot Corp, a provider of Internet-based hosted CRM services, and enterprise incentive management provider Motiva, Inc. are part of the CRM giant's overall growth strategy.
Since accepting change is the hardest thing for any organization, Joe Gauches strives to ease transition pains.
Providence Washington's Ed Leveille flips IT spending percentages to increase R&D funding.
Becoming a successful CIO takes a lot of hard work and there are many challenges as an executive moves up the corporate ladder. But getting to the top IT spot is only half the battle -- staying there and continuing to be successful leader, while not burning out, can be just as difficult.
Past Elite 8 honorees discuss how they continue to produce results and remain successful, while building great teams and overcoming budget and time management hurdles.
AXA Financial's Charles Curcio is a new breed of insurance technology executive
Insurer consolidates enterprise-wide procurement onto a single system to increase efficiency, quality.
Unitrin Direct will outsource its subrogation to Trumbull Services LLC to maximize recovery opportunities and to streamline the subrogation process.
The resounding themes at Insurance & Technology's and ACORD's Insurance Standards Leadership Forum, held yesterday in Chicago, was that XML-based applications make it easier for agents to conduct business and that insurance carriers are increasingly focused on using standards to improve and streamline business processes.
It only took about 60 days of retirement before Frank Jersey, former president, CEO and chairman of The Leverage Group, discovered a business opportunity that brought him back into the insurance business.
A listing of recent insurance company/IT provider contract announcements.
CSAA has selected and rolled out a new Web-based quoting system based on the Apogee platform.
California SB 1386, a new law requires companies with even a single California customer to report any personal data breach to the affected parties, or be subject to civil penalties.
Liberty Northwest consolidates and upgrades network with assistance from NetManage.
Long-heralded as the next step in e-commerce, e-payments have failed to live up to the hype. So when will e-payments reach the tipping point?
Sharing knowledge in an insurance company is vital. But in order for a knowledge management activity to succeed, it must be tied to business strategy.
At its launch in 2001, Fusura was heralded as a new breed of P&C insurance agency. But after two of its three investors sold off their personal P&C businesses, the venture's chief executive has decided to wind down the agency's operations.
New advancements in technology and methodologies may signal that knowledge management is ready for broader acceptance in the insurance industry.
Almost two years after the 9/11 attacks, experts say a sound business continuity plan relies on testing, testing ... and more testing.
At Blue Cross Blue Shield of Minnesota (Eagan, MN, $1.8 billion in assets), John Ounjian, chief information officer, says that his company is leveraging IT to meet the ever-higher expectations that customers have of their insurance provider, while also working to reduce costs.
When an older imaging system reached capacity limits, CAA Insurance turned to FileNet.
Hancock/MetLife greenfield builds infrastructure in three months for federal LTC program.
ING's consumer portal combines entertainment and education.
The Florida Commission on Hurricane Loss Projection Methodology, an organization established by the Florida Legislature to establish reliable methods of projection for hurricane losses, has approved the AIR 2003 Atlantic Tropical Cyclone model from AIR Worldwide Corp. (Boston).
Lincoln Financial Group will integrate legacy systems with technology from Metaserver.
A listing of recent insurance company/IT provider contract announcements.
Health insurers are scrambling to enhance systems to accommodate the consumer-directed healthcare model.
Building on an existing outsourcing and co-development relationship, CareFirst
BlueCross BlueShield awards an additional number of projects to EPAM, an outsourcer
that connects teams of Russian developers based in Moscow and Minsk with corporate
The Principal Financial Group wins the 2003 Internet Innovator's Award (sponsored by InSystems, I&T and Celent) for use of online forms presentation and e-signatures in its IRA Online Rollover process.
Philadelphia Insurance Companies will begin to add automation to its previously manual process of budgeting and financial planning by deploying business performance management software from Satori Group.
Although most offshore initiatives start with cost savings in mind, many firms also are seeking improvements in productivity and quality.
Although compliance with Sarbanes-Oxley means CEOs are in the hot seat, CIOs will do much of the heavy data lifting.
More insurance companies are now measuring the total cost of ownership (TCO) along with return on investment (ROI) on technology projects.
On the record with Stephen E. Yates, president, USAA Information Technology Co.
Global Aerospace aims to improve service to customers with a completely Web-based underwriting system.
North Carolina Farm Bureau Mutual Insurance Co. will use a business process management application from Clear Technology to automate manual processes in its policy processing center.
Insurers may consider new server platform for Web services.
Although discretionary IT spending is almost extinct at many insurance carriersand even non-discretionary spending is under pressureinsurers are spending IT dollars on specific initiatives that will help them remain competitive going forward.
Business-savvy CIOs can provide technology that makes life easier in the boardroom.
PrimeWire application consolidates and automates group insurance billing for Conseco.
Danish property and casualty insurer Tryg has signed a five year $80 million contract with Computer Sciences Corp.
Who do you think is the most visionary technology executive in insurance? Is it someone skillfully negotiating his or her
enterprise through the ups and downs of the tight economy, or a leader that has consistently produced a good ROI on all technology initiatives?
Firm adds 100 executives with financial services consulting expertise.
Diana E. Beecher, SVP/CIO for Travelers Property Casualty, will leave the company to become global CIO at Marsh Inc., Travelers' media relations has confirmed.
With tighter budgets and a focus on short-term ROI, many insurers lean toward restoring and enhancing existing systems. Here's how four companies made tough legacy decisions.
CUNA Mutual drives internal efficiencies with HR product from Authoria and PeopleSoft.
Will analyze data to track racial and ethnic disparities in healthcare.
In order to better coordinate technology within the enterprise, Allstate names Anthony Abbattista to the newly created position of VP, enterprise technology strategy and planning.
Insurance companies must build a sound technology foundation before using Web services to support the insurance value chain.
Storage system prices are plummeting because of vendor competition and newer low-cost technologies. That's a good thing, since insurers need more storage than ever before.
On the Record with Kenny Klepper, SVP, Systems, Technology & Infrastructure, Empire BCBS.
Insurer automates processes that once required manual intervention, for a big ROI.
Insurers must invest in underwriting IT, to better predict losses.
With all of the hype surrounding Web services, insurance executives could easily be led to believe that the technology will solve all their customer service, compatibility and systems integration problems.
Sherwood International, after the slowing economy resulted in slower-than-expected growth, has eliminated regional senior manager positions in an effort to shorten decision-making cycles and devote more resources to research and development.
Nationwide promotes Cannon.
Instant Message usage is exploding in the corporate environmentand is actually increasing productivity and improving service.
Carrier can now track usage, while agents benefit from any-time availability.
Technology from Vitria helps Humana transform claims processes and meet HIPAA requirements at the same time.
Strategic move merges two commercial insurance subsidiaries.
Nationwide Financial develops Notes-based internal audit database.
In an effort to increase its e-commerce presence, Liberty Northwest Insurance Corp., a subsidiary of Liberty Mutual, appointed Michael Westover, former e-business strategist for Liberty International, to lead the company's e-business efforts.
The first generation of insurance portals was supposed to change the Insurance industry forever--from both B2B and B2C perspectives. But the reality is that they did not transform the industry and were, in fact, dismal failures.
While salaries are stable, or even slightly decreasing, study reveals that insurance CIOs will hire more than their peers in other industries.
Insurers have taken the "lessons learned" from the first round of Internet portals and are applying the knowledge to the next generation of offeringsand have the results to show.
American Modern Insurance Group is transforming itself into a Web-enabled distributor of products.
Federal judge in Miami blocks settlement in Illinois case involving claims.
Industry analysts predict insurance companies will focus on infrastructure and enhancing legacy systems.
Insurers have slashed new technology investments, but IT is still being asked to further reduce costs. Here's how to create savings while continuing to provide value to the business.
DFA Capital Management helps Empire Fire & Marine better evaluate financials and risk.
IT and operations shift senior exec talent to gain business efficiencies.
Class action lawsuits are being brought against health insurers that are using McKesson's claims analysis software.
Dennis S. Callahan, who has just been promoted from CIO to EVP at The Guardian Life Insurance Co., will now oversee building services and facilities for 60 Guardian locations in the US.
When Wooster, OH-based Wayne Mutual Insurance Co.'s long-time outsourcer informed the carrier that it no longer planned to offer outsourcing services, the small writer of P&C insurance had to move quickly to find a new outsourcing provider.
In this age where measuring IT success and returns on IT investment is a priority, most life insurance carriers do not measure traffic, ROI or even know how many agents are actually using their agent extranets, according to a report from Forester Research.
Kevin George, formerly from USAA, takes over as CAT director for Nationwide Insurance.
20-year veteran of The Principal takes over as IT head.
Recent comings and goings in the insurance industry.
Oklahoma Farm Bureau uses centralized data warehouse and analysis tools to give business users "drill-down" capability into financial data.
Insurance companies will enhance their financial systems to gain competitive advantage over competitors that do not.
P&C insurers are looking to add wireless and broadband connectivity to response teams.
The technology and consumer-experience intersection is happening in all industries and if the insurance industry doesn't find a way to deal with it, the industry will look bad" when compared to others that do, warned John Ounjian, senior vice president and CIO at Blue Cross Blue Shield of Minnesota.
Illustrating the growing momentum behind Web services technology, Microsoft and Siebel Systems announced a multi-year global strategic alliance to deliver enterprise
solutions that leverage the benefits of Web services to meet business demands.
--> Zurich North America and Preferred Concepts, LLC have rolled out nationally ezumbrella.com;
--> Travelers Property and Casualty received the inaugural Pinnacle Award for outstanding leadership;
--> Progressive Insurance will use IVANS' Transformation Station...
Before insurance companies can implement client-facing technologies, they must clean and refocus data for customer interactions.
Long before Web services became a household word in IT shops, MetLife was already well into development.
"Creative" development of XML applications may fragment standards.
But health and P&C carriers must comply with OFAC's SDN list, even though they are exempt from anti-money laundering and know-the-customer rules of USA