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

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

Asset Tracking: Automate or Die; Pressed to reduce risk and boost compliance, more insurers are automating the management of their investment portfolios.(Cover Story/Financial Management)
June 1, 2009... Byline: Daniel Joelson Like an understudy suddenly thrust into the starring role, the investment portfolios of insurers are suddenly subject to an entirely new level of scrutiny in the age of the toxic asset. To be sure, keeping track of...

Loss Control Processes Beg for Standardization; Technology can integrate loss-inspection reports into workflows, and create a standardized way to collect and decipher information.(Vantage Point - Guest commentary from industry sources)
June 1, 2009... Byline: Dave Hanley The concept of mitigating risk has been around since the early days of insurance when deals were made at the pub or coffee house, and sealed with a handshake. Granted, the insurance industry has come a long way since...

Business and IT Agree: Govern by Committee; As scrutiny of budgets heightens, carriers sharpen efforts to reconcile expenditures with business requirements.(Insurancenetworking.com - The most popular content on INN's Web site)
June 1, 2009... Byline: Joe McKendrick For insurers, there's never been a better time to firm up IT governance efforts. The turbulent economy demands that IT expenditures deliver as much business value as possible. Regulatory pressure is increasing. The...

Back Office Solutions.(Back Office Solutions - Strategies and technologies to boost behind-the-scenes efficiencies)
June 1, 2009... Accenture Unveils Enhanced Solutions Bermuda-based Accenture has unveiled newly enhanced claims, underwriting and policy administration solutions designed to help P&C and life insurers reduce costs and streamline insurance processes. The...

Capturing a Fading Voice Before it is Lost to Us; Insurers often label legacy expertise as "outdated," yet these are the minds and theories that built the industry.(Counterpoint - Guest editorialists who challenge conventional wisdom)
June 1, 2009... Byline: Vicki Enderby Welcome to the next generation of the insurance enterprise. Project your roadmap out by 20 years: policies are now underwritten by analytics; the insurance market is controlled by ones or zeros; underwriting...

U.S. Bureau of Labor: Fewer Insurance Jobs; A study by the U.S. Bureau of Labor Statistics reveals the U.S. insurance industry shed jobs for the fifth straight month.(Insurancenetworking.com - The most popular content on INN's Web site)
June 1, 2009... Byline: Alex Vorro Dovetailing with the announcement in early April that Nationwide Mutual Insurance Co. was cutting 480 IT jobs, a study by the U.S. Bureau of Labor Statistics that finds the U.S. insurance industry shed jobs for the fifth...

Diagnosis: Data is King; The health care industry is entering a world where insurers and other stakeholders that view patient data as an asset will thrive.(INNFocus/Health - In-depth coverage of issues affecting specific lines of business)
June 1, 2009... Byline: Pat Speer Looming health care reforms are forcing all stakeholders within the health care marketplace to focus on creating business and technology strategies that will keep them viable. In particular, health insurers are revisiting...

Insurers and Agents Gain Insight into Billing; Insurers increasingly are choosing to direct bill insureds. But that can pose communication problems between insurers and agents.(Front Office - The latest on customer-facing issues that drive revenue)
June 1, 2009... Byline: Carrie Burns The insurer/independent agent relationship has long been an important one, and when you add an insured to the mix, miscommunication and challenges are sure to arise. Such is the case with the billing process....

Real Time Catching On; Survey sees increasing numbers of agents and brokers leveraging real-time technology tools to handle policy rating and sales, manage customer inquiries, and deliver service.(Statistically Speaking)
June 1, 2009... According to a poll of 3,200 agency staff members, more than half of agency management system users tap a real-time tool to start an inquiry or service transaction. In addition, the survey found that 43% of agents are rating personal lines in...

Politics Cloud Accounting Picture.(Cover Story/Financial Management)
June 1, 2009... Byline: Bill Kenealy Insurers looking for lodestars to navigate the financial regulatory waters have no shortage of options. Decisions that will impact how insurers account for their finances are quietly being made in places including...