BlueCross BlueShield of South Carolina (Columbia, SC) and its HMO subsidiary Companion HealthCare are among the fastest Blue Cross claims processors, according to a recent study by the BlueCross Blue Shield Association. In the second half of 2001, SC BCBS processed 99.2 percent of all claims within 30 days of receipt, compared to the average among the other 43 Blue Cross insurance plans of 97.8 percent of claims. Ninety-eight percent of SC BCBS' claims were completed in seven days.
A comprehensive strategic relationship has been formed between Long Grove, IL-based Kemper Insurance Companies and Berkshire Hathaway (Omaha), whereby Berkshire Hathaway will make an equity investment in Kemper's portfolio of commercial casualty and specialty insurance operations through a newly formed stock insurance subsidiary, and will participate in several reinsurance agreements with Kemper.
John Hancock (Boston) unveiled the Comprehensive Estate Tax and Income Analysis (CETIA) tool, which it says is the industry's first planning tool that combines retirement income analysis with estate planning analysis. CETIA illustrates advanced estate planning designs and estate reduction techniques. The tool links directly to John Hancock's company illustration system to upload Hancock life insurance values. While currently an Excel-based tool available on CD or downloadable on the WEB, CETIA will become Internet-based later in the year.
The Commonwealth of Pennsylvania's Medicaid Management Information System (MMIS) awarded Unisys (Blue Bell, PA), as a subcontractor to EDS (Plano, TX), an approximately $14.75 million contract. Under the five-and-a-half-year contract, Unisys will perform administrative and operational processes that support Pennsylvania's Medicaid program, as well as home and community-based services.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio