Insurance Networking News: Executive Strategies for Technology Management articles from January 2009

Insurance Networking News: Executive Strategies for Technology Management archives from January 2009

Regulatory Issues Impel Advance on the Hill.(Feature: Regulation)
January 1, 2009... Byline: Bill Kenealy Even if one discounts the calamitous months that ended the year preceding it, 2009 was already shaping up to be an eventful year for insurance companies. Long-standing regulatory disputes regarding issues such as agent...

Reckoning for Reinsurers After the Financial Storm; Effects of a prolonged soft market, paired with financial turmoil and open-ended liabilities, are putting pressure on reinsurers.(INN Sight)
January 1, 2009... Byline: Karlyn Carnahan Never has the world of reinsurance been faced with as many pressures as it is today. Start with legacy issues such as mold or asbestos, add emerging exposures such as nanotechnology or climate change, throw in a...

Is Insurers' Resistance to Virtualization Fading? Despite their bleeding-edge reputations, virtualization and cloud computing are already paying dividends to insurers.(Back Office)
January 1, 2009... Byline: Alex Vorro Far from being passed, virtualization is still a vital concern among IT professionals these days. While there are many instances of carriers that have virtualized everything from their desktops to their servers to their...

SOLUTIONS.(Back Office)
January 1, 2009... Guidewire Releases Version 3.0 Of Policycenter Guidewire Software Inc., San Mateo, Calif., announced the release and immediate availability of Guidewire PolicyCenter 3.0, an all lines underwriting and policy administration system. Guidewire...

Drive Profit From Process; Insurers must combine technologies such as BPM, SOA and analytics to improve operational efficiency.(Vantage Point)
January 1, 2009... Byline: Sabine Vander Linden The insurance industry is facing an unprecedented number of business challenges brought on by a harsh economy, low investment returns, increases in claims and fraud, and greater consumer and agent expectations....

Who's Buying What; Recent deals for technology software and services.(Vantage Point)(Company overview)
January 1, 2009... Progressive Uses IVANS to Create Sign-on for Agents IVANS, a Stamford, Conn., provider of corporate connectivity solutions and services, worked with Cleveland-based personal lines P&C giant Progressive Casualty Insurance Co. to implement...

IN ON THE ACTION.(Feedback: Letters from INN readers)(Brief article)
January 1, 2009... Byline: Dennis Bukantis, Dennis Bukantis Insurance, Denver Thanks for the insightful editorial (November 2008, "Aren't We All in on the Action"). To say that this [financial] crisis is over would be folly, but it has the appearance of...

Predictive Modeling's Role in P&C Industry; New rating variables are being incorporated into insurers' predictive models according to the Casualty Actuarial Society.(Insurancenetworking.com)
January 1, 2009... Byline: Carrie Burns Health insurers have been known to use predictive modeling within a number of business processes-claims, fraud detection and underwriting, etc. However, new advances in predictive modeling will play an increasingly...

AGENCY MANAGEMENT: Insurers Focus on Agency Satisfaction.(Front Office)
January 1, 2009... Byline: Carrie Burns With the growing trend of direct-to-consumer insurance sales, some industry experts have questioned the future existence of the agency network. However, news from many carriers leads one to believe independent agencies...

INN FOCUS-LIFE: PLM Technology: Get Your Ducks in a Row First.(INN FOCUS-LIFE)(Company overview)
January 1, 2009... Byline: Daniel Joelson Product lifecycle management (PLM) systems promise carriers the ability to create new products, reuse components and manage products over their lifecycles in a starkly more efficient manner. However, many life...

Inspiration in Las Vegas?(Commentary)
January 1, 2009... Byline: Carrie Burns, Senior Managing Editor Sin City is not known by most business people as a place for deep thinking, celebrating women's successes or crafting innovative business change. However, that is exactly what happened at INN's...

SOLUTIONS.(Depository Trust & Clearing Corp. to launch new online tool)
January 1, 2009... DTCC Launches Agent Licensing Tool The Depository Trust & Clearing Corp. (DTCC), New York, launched a new online tool that enhances usage of licensing & appointments (LNA) - one of the core automation solutions from its Insurance &...

SOLUTIONS.(INNFOCUS-LIFE)
January 1, 2009... Next Gen Vector Policy Admin System Released MajescoMastek, the Edison, N.J., U.S. subsidiary of global technology solutions provider Mastek, launched the next generation of its Vector Policy Admin System for the life insurance industry....

Online Sales Aid Insurers.(Statistically Speaking)
January 1, 2009... Given the state of the U.S. economy, the competitive marketplace and ever-changing customer habits, U.S. insurers have begun to invest in online sales strategies. A recent report by independent market analyst Datamonitor, London, concludes...

New Ruckus Emerges Over Tarp.(Feature: Regulation)
January 1, 2009... While many of the legislative issues facing the insurance industry have gestated for years, a contentious issue arose abruptly when the U.S. Treasury Department announced its Troubled Asset Relief Program (TARP) in October. Indeed, if the OFC...

Pricing Is The Sweet Spot; P&C insurers must be relentless in using predictive analytics in pursuit of optimal business outcomes.(Counterpoint)
January 1, 2009... Byline: Marty Ellingsworth and David Cummings The insurance business is where the theory of risk meets the reality of reward or ruin. In that light, success shines on those with the best and brightest underwriting. Knowledge and insight are...