Insurance Networking News: Executive Strategies for Technology Management articles from January 2005

Insurance Networking News: Executive Strategies for Technology Management archives from January 2005

Budgets Hold Steady, But Spitzer's The Wild Card.(information technology spending may increase)
January 1, 2005... When it comes to IT spending this year in the insurance industry, it's deja vu all over again. In general, industry analysts concur that U.S. insurance companies will increase IT spending only slightly this year-between 1% and 4%. Last year,...

OneBeacon: Happy Trails To Paper Trails: A new enterprise content management system has cut the cost of producing and distributing paper policies to the tune of $650,000 annually.(OneBeacon Insurance Group)
January 1, 2005... The challenges insurers face with handling paper documents have been well documented. Dealing with reams of paper is one thing. Coping within a manual and de-centralized content management scheme is another. The process of printing and...

Test Drive Before You Buy: Proof of concept strategies are helping convince unwitting insurers that technology vendors have the right solutions to meet their needs. But insurers have to meet vendors halfway to make the process effective.
January 1, 2005... Proof of concept strategies are helping convince unwitting insurers that technology vendors have the right solutions to meet their needs. But insurers have to meet vendors halfway to make the process effective. Automobile dealers anxiously...

Looking Back And Pondering The Future.
January 1, 2005... Philosophers often debate whether civilization has learned the lessons of history. Likewise, for business executives, the advent of a new year is a time to reflect on events and issues that shaped the previous 12 months and ponder what lies...

Big Blue Boosts Insurers' BPO Options.(IBM's planned merger of Liberty Insurance Services may be the new trend for insurance IT into business process outsourcing)
January 1, 2005... Insurance companies historically have been hesitant to outsource core business processes, fearful that relying on vendors to perform processing and support services is a risky proposition. That perception may change, now that one of biggest...

NAIC, NCOIL Draft Model Laws; Industry Responds.(National Association of Insurance Commissioners, National Conference of Insurance Legislators)
January 1, 2005... No one knows for certain what regulatory changes will result from New York Attorney General Eliot Spitzer's investigations into unethical sales practices in the insurance industry. But, at press time, state policymakers had already drafted...

NAIC's Initial Proposals.(National Association of Insurance Commissioners)(Brief Article)
January 1, 2005... The National Association of Insurance Commissioners (NAIC) in November drafted amendments to the Producer Licensing Model Act. One area addressed is broker compensation. Specifically, the Kansas City, Mo.-based NAIC is proposing that...

Talk isn't cheap: speech-enabled technology reduces reliance on offshore call centers.
January 1, 2005... A new study by London-based research firm Datamonitor suggests U.S. corporations that aggressively invest in speech-enabled self-service technology have the opportunity to reduce long-term dependency on offshore call center operations. ...

Product Previews.
January 1, 2005... ASP FRAUD DETECTION Minneapolis-based Fair Isaac Corp. has released VeriComp Fraud Manager ASP (Application Service Provider). The Web-enabled, predictive solution is designed to help insurance payers of all sizes control workers'...

Calendar.(Calendar)
January 1, 2005... The International Forum Annual Meeting When: Jan. 9-12 Where: Westin Kierland Resort & Spa, Scottsdale, Ariz. www.int-forum.org P&C Insurance Joint Industry Forum Sponsor: Insurance Information Institute When: Jan. 11 ...

Changes Predicted For Producer Comp.(The Conference Group's 16th annual executive conference)
January 1, 2005... The agent/broker compensation model is poised to change, with a departure from commissions based on profitability and volume incentives. A poll of attendees at The Conference Group's 16th annual executive conference for the...

Business Alliances.
January 1, 2005... ISO SIGNS PREFERRED PARTNERS FOR RATING SERVICE Six insurance technology companies have signed on as preferred partners for Insurance Services Office Inc.'s ISO Rating Service: Camilion Solutions, ePolicy Solutions, Sapiens, SunGard...

Allianz Seeks Growths Through Bank Alliances.(Allianz Life Insurance Company of North America)
January 1, 2005... Allianz Life Insurance Co. of North America plans to add bank distribution alliances and increase its multicultural marketing efforts next year, according to the company's new director of sales and distribution. Hayward Sawyer, who joined the...

Contracts.(update)(Brief Article)
January 1, 2005... 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 News magazine at (312) 913-1366 or by...

Banks: A Force To Reckon With.(report by American Bankers Insurance Association)(Brief Article)
January 1, 2005... Banks have become a force that carriers have to reckon with in insurance distribution. In 2003, the value of insurance products sold by U.S. banks reached $78.1 billion, more than double the amount just four years earlier, according to a report...

Balboa's Expansion Relies On Speed: The carrier's new rating system for personal lines enables Balboa to process new applications quickly, due in part to the solution's Extensible Markup Language (XML) architecture.(Balboa Life and Casualty Co)
January 1, 2005... The carrier's new rating system for personal lines enables Balboa to process new applications quickly, due in part to the solution's Extensible Markup Language (XML) architecture. For almost 30 years, Balboa Life and Casualty Co. provided...

INN Focus.(insurance networking news)(Brief Article)
January 1, 2005... Case Study: Balboa Life & Casualty Co. At Issue: The carrier needed a rating and policy administration system to support its expansion into personal lines. The Solution: Duck Creek's Example Platform, an XML-based product...

CNA Lays A New Claims Foundation: The Chicago-based commercial insurer is rolling out a unified claims platform that promises to improve adjuster productivity, provide more timely and accurate information, and reduce claims leakage and IT costs.(CNA Financial Corp.)
January 1, 2005... Like most large U.S. insurance carriers with aging technology platforms, CNA Financial Corp. was faced with a critical decision: How to modernize a legacy claims system to meet 21st century business requirements. And like other insurers, the...

At-A-Glance: CNA Financial Corp.(Brief Article)
January 1, 2005... Headquarters: Chicago, Ill. Revenue: $11.7 billion (2004) Employees: 11,000 worldwide Business lines: Commercial lines: workers' compensation, commercial auto, property, general liability, boiler and machinery, marine, umbrella &...

Cutting through the smoke and mirrors.(proof of concept )
January 1, 2005... To ensure that the solutions being showcased are legitimate-not smoke and mirrors-many insurers have embarked upon proof of concept (POC) strategies that are more encompassing and systematic than in the past. Although it's the...

Vendors Work Behind Scenes to Perfect Proof of Concept.
January 1, 2005... Vendors that support insurance companies have a lot riding on new business opportunities, both from a reputation and an economic standpoint. So it's no surprise that many vendors work diligently to craft the most thorough, fluid and customized...

MetLife's Customers Benefit From Portal's Upgrade: MetLink is helping some 17,000 administrators of corporate benefit plans become more efficient and effective by automating routine tasks and providing real-time access to data.
January 1, 2005... MetLink is helping some 17,000 administrators of corporate benefit plans become more efficient and effective by automating routine tasks and providing real-time access to data. When Sachin Shah began working at MetLife in 1999, the carrier...

e.Business Briefs.
January 1, 2005... PENN MUTUAL DEPLOYS SINGLE SIGN-ON ID SYSTEM The Penn Mutual Life Insurance Co., Philadelphia, has deployed an identity management and access control system that enables home and field associates, as well as thousands of financial...

Self-Service Heals Health Insurers' Ills: Customer self-service strategies enable health care insurers to transform paper and phone communications into more efficient and dynamic interactions.
January 1, 2005... Health insurers face a difficult dilemma today: Although customers are demanding higher levels of service that are more convenient to access, they are also increasingly sensitive to rising health care costs. Most health carriers are trying...

Index Of Advertisers.
January 1, 2005... Advertiser Site Addresses Page # Adobe Systems adobe.com/idp 2-3 CGI www.cgi.com 9 Duck Creek...

Mobile claims adjusters: road warriors: the pragmatic reason for mobilizing claims adjusters is economic gains.
January 1, 2005... You no doubt have seen ads from property/casualty insurers that promise fast results when disaster occurs. While customer satisfaction equates with continued revenue, a more pragmatic reason for mobilizing claims adjusters is economic. ...