Insurance Networking News: Executive Strategies for Technology Management articles from February 2002

Insurance Networking News: Executive Strategies for Technology Management archives from February 2002

Editor's Letter.(Brief Article)
February 1, 2002... Resolutions For 2002 Remember when New Year's resolutions were in vogue? Maybe it's me, but I didn't hear anyone proclaim their resolutions for 2002. Maybe it's because people today have a harder time keeping promises (who can forget "Read...

Newsline.(Brief Article)
February 1, 2002... Legal Issues: EEOC Sues Allstate For Illegally Converting Agents To Contractors, Violating Federal Laws When Allstate Insurance Co. announced its aggressive new business approach in November 1999, analysts praised the company for its bold...

Recent Lawsuits.(Brief Article)
February 1, 2002... * August 1, 2001: Agents file class-action lawsuit against Allstate for age discrimination and violation of federal civil rights laws (see September 2001, page 8). * November 9, 2001: National Association of Professional Allstate Agents...

Industry Research: Financial Providers Weigh Pros, Cons Of Biometrics.(Brief Article)
February 1, 2002... Biometric technology is in the throes of an identity crisis. Biometrics relies on matching algorithms that analyze the physical or behavioral traits that differentiate one individual from another, such as fingerprints, the retina or iris of the...

Baby Boomers Unprepared For Retirement.(Brief Article)
February 1, 2002... Baby Boomers who already feel sandwiched between financial obligations to children and aging parents can look forward to more of the same, plus unprecedented levels of debt for themselves in retirement. That is the sobering conclusion of a...

Consumers Still Worried About Privacy.(Brief Article)
February 1, 2002... The July 1, 2001 deadline for financial institutions to comply with privacy regulations under Title V of Gramm-Leach-Bliley has come and gone, and 35% of consumers are more concerned about their financial privacy than they were a year ago. That...

NAIC Launches New Consumer Web Site.(Brief Article)
February 1, 2002... Members of the Consumer Protection Working Group of the National Association of Insurance Commissioners (NAIC), Kansas City, Mo., launched a consumer information Web site where consumers can locate basic information about insurance companies,...

Retail Financial Institutions To Spend Less On IT.(Brief Article)
February 1, 2002... Retail financial institutions globally will spend $33.8 billion in 2002 on strategic technology initiatives, down from last year's estimate for 2001 of $36 billion, according to Meridien Research, a Newton, Mass.-based financial industry...

ACORD Releases AUGIE Agency Survey.(Brief Article)
February 1, 2002... The ACORD Users Group Information Exchange in January launched its Agency Survey, an industry effort to measure agents' technology needs. The survey is intended to assist technology suppliers and companies in determining where agencies need...

Newsline Briefs.(Brief Article)
February 1, 2002... Atlanta-based Jacada Ltd. released Jacada Interface Server 7.1, which adds XHTML generation capability to Jacada's integrated user interface development solution. The Jacada Interface Server provides a common user interface layer for new...

Alliances.(multiple business briefs)
February 1, 2002... Insurance Services Office Inc. (ISO), Jersey City, N.J., and Markham, Ontario-based Insurers' Advisory Organization Inc.(IAO) have formed a strategic alliance. IAO will immediately begin to market ISO forms, rules and loss costs to Canadian...

Swift QuickToStay In The U.S.A.: As CIO of Esurance Inc., Philip Swift is in charge of the technological stabilization and maturation of an Internet-based insurer.
February 1, 2002... When Philip Swift responded to a classified ad for Fireman's Fund Insurance Co., little did he know how that decision would change his life. Swift, living at the time in Liverpool, England, accepted the offer to work for the Novato,...

Keeping The Promise.(claims processing)
February 1, 2002... Claims technologies can help insurers reduce overhead associated with resolving claims, as well as provide claims professionals with more accessible information and consistency in executing tasks. The results? Lower claims costs and better...

Taking the bite out of dental claims.(Brief Article)
February 1, 2002... When Florida Combined Life decided to become a primary player in the dental PPO and fee-for-service business in that state, it had two major challenges: an aggressive timeline and an inflexible claims system. The Jacksonville, Fla.-based...

Imaging Benefits Become Clear: Workflow/imaging document management systems have enabled carriers to reduce costs and growth their business.
February 1, 2002... Five years ago, Security Insurance Co. was suffocating under the weight of paper files. The company's file room was packed to the point where the company had to place file racks in hallways, consuming office space that cost $20 per square foot....

Building Community Relations.(PwC Consulting Virtual Insurance Community initiative)
February 1, 2002... The expression "the sum of the parts is greater than the whole" has many tried-and-true applications. PwC Consulting is contributing its own technology-driven version of this axiom, and insurance carriers are in line to benefit. Last year,...

The VIC Components.(Virtual Insurance Community)(Brief Article)
February 1, 2002... The following is a list of components in the Virtual Insurance Community for property/casualty lines of insurance: * Web portals link VIC to the end customer/consumers (B2C), agency/broker sales force (B2B) and carrier employees (B2E) via...

To the VIC-tor Go The Spoils.(American Modern Insurance Group's use of Virtual Insurance Community)
February 1, 2002... As it faced the unenviable task of selecting and then implementing a systems integration solution across its various business components, Cincinnati-based American Modern Insurance Group discovered a modern approach to an age-old problem. ...

Developing A 'Vertical Vision'.(PWC Consulting's Virtual Insurance Community initiative)(Brief Article)
February 1, 2002... In many businesses, the key to success often lies in a firm's ability to diversify. What PWC Consulting has accomplished through its iFS Solutions and Virtual Insurance Community (VIC) initiative testifies to the growing trend that sees...

Best-of-Breed Meets Best of Both Worlds.(PwC Consulting's Virtual Insurance Community initiative)
February 1, 2002... In 1999, when PwC Consulting formulated the blueprint for its Virtual Insurance Community (VIC), one dynamic that drove the initiative was its ability to provide insurance carriers with a pre-integrated best-in-class technology solution. ...

Web Sightings.(State Farm, Coverna Direct, InsWeb and Geico Insurance online)(Brief Article)
February 1, 2002... Insurance Networking periodically takes a look at the Web offerings from carriers and insurance marketplaces. Coverna Direct www.coverna.com What's the difference between getting insurance online directly from a carrier or purchasing...

Contracts Update.(insurance industry)(Brief Article)(Illustration)
February 1, 2002... The Contracts Update section includes announcements of contracts insurance information technology companies have signed with customers in recent weeks. Contract news can be faxed to Insurance Networking magazine at (312) 913-1366 or by...