Insurance Networking News: Executive Strategies for Technology Management articles from February 2004

Insurance Networking News: Executive Strategies for Technology Management archives from February 2004

Driven By The Rules.(application of rule based systems)
February 1, 2004... When it comes to claims processing, insurers are being driven by the rules-business rules, that is. Using rules-based technology, insurance companies are automating routine tasks, streamlining claims workflow with consistent best practices, and...

Benefits Online: A Case Of "What If".
February 1, 2004... If benefits administration managers across the United States appear particularly upbeat these days, it's for good reason. Their responsibility for overseeing employee benefits plans-which many managers have long viewed as a nuisance-is...

Centralized Command Stands Guard At Aetna.
February 1, 2004... Just five years ago, security maintenance and administration for insurance giant Aetna Inc's more than 100 nationwide field offices was complicated, cumbersome and costly. In fact, the security "system" for the Hartford, Connecticut-based...

Analyzing The Outsourcing Option.
February 1, 2004... The outsourcing option is not a new concept for insurers. Indeed, our cover story in September 1999 noted that "stagnant premium growth, industry consolidation, rapid technological change and financial service market convergence are among the...

Insurance Fraud: Convictions Rise; Technology Plays A Role.
February 1, 2004... Insurance fraud is an $80-billion a year industry-and the bad news is: Organized criminals know it. "The word has gotten out," says Dennis Jay, executive director of the Coalition Against Insurance Fraud (CAIF), Washington, D.C. "There are...

Calendar.(meetings)(Brief Article)(Calendar)
February 1, 2004... Disaster Planning/Business Continuity Sponsor: RIMS When: Feb. 19-20 Where: One Ninety One Club, Atlanta www.rims.org Symposium On State Insurance Regulation Sponsor: NAIC When: Feb. 23-24 Where: Loews L'Enfant,...

CRM: Insurers To Implement Change (Management).(customer relationship management)
February 1, 2004... In recent years, a combination of poor planning, bad execution and an inability to properly measure results have conspired to undermined customer relationship management (CRM) initiatives, casting doubt on future insurer investments in this...

Washington Watch: Life Insurers Pushing For Optional Federal Charter.
February 1, 2004... The life insurance industry plans a high profile on Capitol Hill this year in an effort to focus policymakers on its agenda, which includes an optional federal charter and a broader array of retirement products. The lobbying effort will...

Product Previews.
February 1, 2004... PPG Provides Direct Connect To Repair Shops Pittsburgh-based PPG Industries has launched PerformanceLink connectivity, a new technology platform that will directly connect insurance companies to performance-based collision repair centers...

Industry Research: Business, IT Strategy Integration Critical To Success.
February 1, 2004... As the insurance industry continues to focus broadly on growth, cost containment and risk management, new research has identified several strategic initiatives that might provide traction to insurers as they endeavor to improve their...

INN Focus.
February 1, 2004... At Issue: In 2004, both life and annuity and property/casualty insurers will be exposed to similar challenges in the areas of customer service, distribution, operational efficiency and technology decisions. Advice: To help reach...

Business Alliances.(list)
February 1, 2004... MFX Offers ASP Commercial Lines Service MFXchange Holdings Inc., a wholly owned subsidiary of Toronto-based Fairfax Financial Holdings Ltd., has launched an end-to-end Web-based application service provider (ASP) commercial lines solution....

Wachovia Actively Scouting Insurance Deals.
February 1, 2004... Wachovia Insurance Services is looking to take its place on the national stage with a major agency acquisition, according to its newly named CEO, Stewart McDowell. "Our next step will be a dramatic move toward making Wachovia a national...

Contracts.(list)(Brief Article)
February 1, 2004... 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...

CIO/CTO Survey: Pressures Mount For IT Execs.(Chief Information Officer)(Chief Technology Officer)(Brief Article)
February 1, 2004... Insurance presidents and CEOs aren't the only senior-level executives who are feeling the heat in the competitive insurance marketplace. Senior IT executives are concerned about the adequacy of technology resources, remaining competitive and...

Ohio Insurer Gets Results: When its 20-year IT outsourcing relationship ended, Wayne Mutual turned to a new application service provider-Results International.(Wayne Mutual)
February 1, 2004... As a small, regional insurer, Wayne Mutual has been outsourcing its IT operations for 20 years. Formed in 1910 as a mutual protective association for local farmers, the Wooster, Ohio based carrier today provides property/casualty insurance to...

INN Focus.
February 1, 2004... The challenge: When its 20-year IT outsourcing relationship ended and a subsequent ASP arrangement failed, Wayne Mutual was left to find a new vendor to provide IT processing for its 30,000 policies. The solution: Wayne Mutual...

Property Claims Adjusters Can Generate Revenue: MS/B.(Brief Article)
February 1, 2004... With 64% of homes undervalued by 27%, insurers are losing premium dollars and policyholders are not fully protected. That's according to Jonathan Kost, claims director at Marshall & Swift/Boeckh (MS/B), citing the results of the New Berlin,...

Integrated Claims System Provides a High Level of Automation for the "little guy".(Compensation Risk Managers LLC)
February 1, 2004... With $110 million in written premium, Compensation Risk Managers LLC (CRM) is a relatively small third-party administrator of self-funded workers' compensation programs. But an integrated claims management solution from Insurity Inc., a...

E.Business Briefs.
February 1, 2004... Virtual Consulting From Zurich Zurich North America, a Schaumburg, Ill.-based property/casualty insurer has launched a Web-based service to provide small-business insurance agents and their customers with industry-specific risk engineering...

The shifting landscape of employee benefits administration.
February 1, 2004... As employer groups concentrate on human resource and other employee benefits strategies, one of the decisions many are mulling is what their involvement will be in the employee benefits process in the future. A recent survey by Washington,...

ASPs Are Making A Comeback: Using current technology, ASP and BPO processing cost reductions in the 40% to 45% range can be achieved.(application service providers)
February 1, 2004... At the end of the 1990s, when the promise of the Internet revolution and the dot-com craze lost its luster, business analysts predicted the demise of application service providers (ASPs). However, with a new and more precise mission focus,...

Relieving Burden Of Bureau Compliance: Vendors must do more to help insurers address bureau compliance and reporting.
February 1, 2004... Many property/casualty insurers struggle to comply with changes in rates and rules promulgated by insurance bureaus. Insurance Services Office Inc. (ISO), the American Association of Insurance Services (AAIS), National Council on Compensation...

Compliance Strategies for Federal and State Regulations.
February 1, 2004... The conservative nature of the vast majority of insurance companies in this country makes regulatory compliance a very straightforward issue for them. The fiduciary responsibilities of executives and officers, as well as the myriad of rules...

Ongoing Impact of the USA PATRIOT Act.
February 1, 2004... USA PATRIOT Act compliance - or something very much like it - will eventually be mandatory across the entire financial services industry. Many enterprises currently outside of its regulatory reach are adopting customer identification programs...

CUNA Mutual: Speeds Up State Filings and Product Development.
February 1, 2004... CUNA Mutual's system to keep track of state regulations and requirements was inefficient and time-consuming. Now, through a software solution, the carrier has dramatically reduced the steps involved in the filing process and has increased the...

Industry Speaks.(compliance costs of insurance companies)
February 1, 2004... We asked four leading insurance product and service providers pertinent questions about regulatory compliance and the services that their respective companies offer. Their compelling answers are below and on the following page. INN: In...

Sarbanes-Oxley: Implications for the Insurance Industry.
February 1, 2004... Nearly 16 months after Congress passed the Sarbanes-Oxley corporate governance reform act, insurance industry executives are still coming to grips with the full ramifications of the measure-and with possible tech solutions that will keep them...

HealthNow New York: Addresses HIPAA Privacy Issues.(Health Insurance Portability and Accountability Act)
February 1, 2004... HealthNow New York faced the challenge of protecting sensitive information contained in e-mail communications. By implementing software that allows the carrier to encrypt and monitor e-mails, HealthNow New York is complying with HIPAA privacy...

Produced by Thomson Media's Custom Publishing Group Regulatory Compliance Regulatory Compliance.
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