Insurance Networking News: Executive Strategies for Technology Management articles from March 2003

Insurance Networking News: Executive Strategies for Technology Management archives from March 2003

A Flying Carrier CIO.(an examination of Jefferson Pilot Financial)
March 1, 2003... In December 1903, North Carolina earned an auspicious designation-the state to be "first in flight." That's the year Orville Wright achieved the first man-powered, heavier-than-air flight. The Wright Flyer lifted into the air in a trip that...

Health Insurers Prepare For Privacy.(the medical insurance industry plans for privacy laws under the Health Insurance Portability and Accountability Act)
March 1, 2003... A year ago, health insurers, health plans, providers, hospitals and clearinghouses collectively were heaving a sigh of relief. That's because they were granted the option of applying for a one-year extension to comply with the standardized...

Banker's Life Signs On The Digital Line.(Banker's Life and Casualty Co.'s digitized documentation planning)
March 1, 2003... When it mapped out a test-pilot strategy to use e-signature software and digitize its Medicare supplement insurance forms, Banker's Life and Casualty Co. set some very lofty goals. "We wanted to reduce non-value added activities, increase...

Risky Business A Way Of Life.(a look at risk management in the insurance industry)
March 1, 2003... Before I became editor of Insurance Networking News, I never gave much thought to the amount-and variety-of risk that insurance companies have to assume. Certainly, I was aware of the typical risks that we all purchase insurance for, namely...

Electronic Security: Allstate Negotiating With California DMV Over Data-Security Flap.
March 1, 2003... Allstate Insurance Co. is in the process of negotiating a settlement with the California Department of Motor Vehicles to restore the carrier's access to electronic driving records in the state. In January, California DMV officials...

In Focus.(Allstate Insurance Co., tackles Calfornia Department of Motor Vehicle data privacy issues)
March 1, 2003... * Problem: The California Dept. of Motor Vehicles uncovered negligent electronic data-privacy practices by Allstate in its claims offices for auto insurance policies, and in turn suspended the company's access to electronic driving...

Asbestos Liability Concerns On The Rise.(insurance industry news )
March 1, 2003... As if a ghost from the past has reawakened, property/casualty insurers are again confronting a huge potential wave of asbestos claims. Indeed, the recent moves by Ace Ltd. to boost its asbestos reserves by $1.9 billion, following Travelers...

Regulations: Credit Scoring Controversy Heats Up.
March 1, 2003... The insurance industry is taking aim at a survey sponsored by the Washington Office of the Insurance Commissioner which raises the issue of whether credit scoring can adversely impact the ability of low-income and minority consumers to obtain...

Advice to Insurers: Offer 'Advice.(financial services advice to insurance officials)
March 1, 2003... Understanding how and when consumers want to receive financial advice is an important aspect in gaining the upper hand in the competitive field of financial planning. By implementing automated systems to expand advice delivery channels,...

Calendar.(insurance agents and brokers)(Calendar)
March 1, 2003... LOMA Systems Forum When: March 2-5 Where: Marriott Rivercenter/Riverwalk San Antonio, Texas www.loma.org Commercial Lines Underwriting Sponsor: NAMIC When: March 5-7 Where: Omni Hotel, Chicago www.namic.org ...

People On The Move.(insurance industry)(Brief Article)
March 1, 2003... William D. Smith, president and chief operating officer of The Kemper Insurance Cos., Long Grove, Ill., has retired. An Office of the Chairman has been created to help lead the company. David B. Mathis will postpone his own retirement to...

Product Previews.(insurance industry products and services)
March 1, 2003... PATRIOT ACT COMPLIANCE Herndon, Va.-based CEYONIQ, soon to be TREEV Inc., has launched its Compliance Solution for Section 326 of the USA PATRIOT Act that helps financial institutions meet the USA Patriot Act Compliance requirements for...

Wells Fargo Banking On Insurance: Acordia Plans To Acquire More Agencies.
March 1, 2003... Since buying Acordia Inc. in 2001 and creating the nation's largest bank-owned insurance agency, Wells Fargo & Co. has not been a big player on the agency acquisition scene-but that should change, thanks to the deal-minded focus of the agency's...

Contracts.(contract with insurance information technology companies)(Brief Article)
March 1, 2003... 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...

Business Alliances.(insurance and insurance-related business)
March 1, 2003... Financial Keyosk, the Carpentersville, Ill.-based provider of personal and small commercial financial services products, has added four life insurance carriers to its list of 30 partners: American Life of New York, CNA Life, Empire General, and...

Statistically Speaking.(insurance companies dissolving electronic business and integrating functions into information technology or line-of business operations)(Brief Article)
March 1, 2003... Evolution Of Insurance E-Business Groups As the Web becomes more integrated into insurers' businesses, many carriers are dissolving their e-business groups entirely-and absorbing those functions into their IT departments or line-of-business...

Zurich Builds An Underwriter's Dream Machine.(Zurich North America Insurance Co.)
March 1, 2003... If you build it, they will come. But, if you want to make sure they flock to it, ask them to design it for themselves. Essentially, that's what Zurich North America did when it began developing its state-of-the-art underwriting workstation-an...

In Focus.(discussion of Zurich North America's online underwriting system)
March 1, 2003... * At Issue: Developing an online, integrated underwriting system that enforces consistent best practices across the organization. * The Solution: Zurich North America last year unveiled a workstation that houses the company's best...

A Hipper Way to Learn about HIPAA.(Brief Article)
March 1, 2003... What do you do when you are bound by law to educate thousands of employees in less than a year on privacy standards contained in a 350-page, fine-print document? If you're like most health insurers, you spend a lot of time interpreting the...

Reaching High To Make A Mark.(customer relations in the insurance industry)
March 1, 2003... In the insurance industry, a great deal of emphasis is placed on customer relationship management, and rightly so. But as Matthew Piroch, chief information officer for Highmark Life & Casualty Co. sees it, CRM would be difficult to achieve...

IT Attitude And Magnitude.(information technology strategies at SAFECO Corp.)
March 1, 2003... Yom Senegor believes information technology is not some business department that you keep locked up in the basement of an organization and manage solely as a cost center. "IT plays an extremely critical role in the long-term success of an...

e.capsule.(Banker's Life and Casualty Co., electronic paper processing)(Brief Article)
March 1, 2003... * At Issue: By replacing wet signatures on paper forms with electronic signatures on digital documents, Banker's Life and Casualty Co. hoped to reduce agents' sins of omission and errors on forms, and diminish the turnaround time on open...

Customer Policies on eZB.(Zurich North America Small Business)(Brief Article)
March 1, 2003... Zurich North America Small Business, a unit of Schaumburg, Ill.-based Zurich NA, is implementing system enhancements to give its agents and brokers online access to important customer account management documents. By logging onto eZSB, the...

eAutoclaims Claims Results.
March 1, 2003... Oldsmar, Fla.-based eAutoclaims Inc. says it is now seeing the anticipated results of the restructuring efforts the company initiated during the first quarter of fiscal 2003. In December 2002, the company reported a total savings of $80,000 for...

Travelers Links WC Parties.(P2P Link L.L.C., provides web-based workers' compensation services with Travelers Property Casualty Corp.)(Brief Article)
March 1, 2003... Hartford, Conn.-based Travelers Property Casualty Corp. is implementing Web-based medical billing and reporting for its workers' compensation business. This connectivity, enabled by services from P2P Link LLC, Farmington, Conn., will enable...

Online CRM Community Debuts.(Aberdeen Group launches web site with sales, marketing and customer services information)(Brief Article)
March 1, 2003... Aberdeen Group, a Boston-based technology market consulting and research firm, has launched CRM Access, a Web site that delivers insights to sales, marketing, and customer service executives. CRM Access leverages the firm's CRM expertise to...

Five Million Flock to ING Direct.(Brief Article)
March 1, 2003... ING Direct has welcomed its five-millionth customer. In one year, ING Direct, headquartered in Amsterdam, Netherlands, has doubled its customer base, attracting 2.5 million new customers worldwide The five-millionth customer opened a "Conto...

Cross-Selling Site Redesigned.(Agency Ideas, which offers online newsletter for insurance agents, has redesigned web site)(Brief Article)
March 1, 2003... Agency Ideas, an online newsletter for agents, has redesigned its Web site, CSRcross-selling.com. Enhancements include a new appearance, interface, and content. An integral part of the redesign is the interactive Personal Lines CSR Sales...

eHealthContracts Changes Name.(operating under Concuity Inc.)(Brief Article)
March 1, 2003... EhealthContracts, based in Hayward, Calif., is operating under the new name, Concuity Inc. In conjunction with the name change, Concuity adopted a new corporate identity, which includes a new logo, an interactive Web site located at...

Progressive Remains Top Site.(Progressive Insurance web site receives high rating)(Brief Article)
March 1, 2003... Progressive Insurance's Web site retained its No. 1 ranking in the quarterly ranking of insurance Web sites conducted by Gomez Inc., a Massachusetts-based Internet research and consulting firm. "Progressive remains busy, having made a variety...

Web-Enabling Asbestos Claims.(Claims Resolution Management Corp. reports on user success)
March 1, 2003... Claims Resolution Management Corp., a Fairfax, Va.-based provider of asbestos claims resolution technology, reports users of e-Claims, an interactive, Web-based claims filing, processing and payment system, have achieved a 95.86% accuracy rate....

I.I.I. Has New Web Address.(Insurance Information Institute web site: www.insurance.info)
March 1, 2003... The Insurance Information Institute (I.I.I.) has a new Web address, www.insurance.info. This new domain name more adequately reflects the scope of what the I.I.I. does, executives for the New York-based organization say. The non-profit...

NY Life Speaks Spanish.(New York Life Insurance Co., launches Spanish-language web site)(Brief Article)
March 1, 2003... New York Life Insurance Co. recently launched a Spanish-language Web site, www.newyorklifeenespanol.com, to help visitors, policyholders and agents work with them access information about company products and services in Spanish. Interested...

A Bright e-Signature Light.(NxLight Inc., receives electronic transaction contract from Banker's Life and Casualty Co.)(Brief Article)
March 1, 2003... Banker's Life and Casualty Co. interviewed 12 different companies before selecting NxLight Inc., a 17-month-old e-business enabler organization. NxLight's eTransaction Architecture technology enables insurers to capture e-signatures and...

Boosting Call Center Productivity: A browser-based interface is simplifying data gathering for South Carolina Blues' customer service reps.(Blue Cross Blue Shield Association)
March 1, 2003... When Blue Cross Blue Shield of South Carolina wanted to streamline its call center operations to improve productivity, it did not re-invent the technological wheel. Instead, the Columbia, South Carolina-based insurer implemented...

e.Capsule.(customer service technology, insurance industry)(Brief Article)
March 1, 2003... * The problem: CSRs for South Carolina Blues plan had difficulty retrieving customer information, and customers calling in had to repeatedly give their account IDs. * The Solution: BCBSSC developed a customer-service "engine" that...

Best Laid Plans: Nationwide Learns to Adapt.(Nationwide Financial Services Inc.)
March 1, 2003... With a $900 million annual IT budget spread across 14 business units, Nationwide Financial Services cannot afford a lot of duplication and misguided spending. However, the Columbus, Ohio-based insurance giant also needs to encourage and fund...

In Focus.(merger and acquisition planning, insurance industry)(Brief Article)
March 1, 2003... * The problem: Rapidly changing technology, mergers & acquisitions, and poor system planning have saddled carriers with technology that doesn't address present and future business needs. * The Solution: Develop a centralized...

Nationwide's Adaptive Enterprise.(Brief Article)
March 1, 2003... Architecture Review Board * Consists of the chief architects/CTOs of the individual business units and affiliates * Collaboratively defines IT vision and architecture for the enterprise * Reports to the CIO Council on a monthly...

'Enterprise' Extends Beyond Corporate Walls.(article examines Nationwide Financial's information technology structure )
March 1, 2003... The concept of adaptive enterprise architecture is being extended outside of Nationwide Financial's vast IT structure. As part of the process, IT executives at Columbus, Ohio-based Nationwide are involved in corporate merger and acquisition...

The Return Of Investor Confidence.(financial reporting, insurance industry)
March 1, 2003... "No more easy money for criminals, just hard time." With those words, President George Bush signed into law the most sweeping corporate reform legislation since the New Deal of the 1930s. Under the new law, the stakes for white-collar crime...

The Wireless Agent.(insurance industry)
March 1, 2003... It seems that everyone is jumping on the wireless bandwagon. From cell phones to PDAs to wireless pagers, both professionals and consumers are seeking new, more efficient means of communication. The fast-paced growth of wireless technology in...

Don't Trade Headaches For Handcuffs.(examination of outsourcing services in the insurance industry)
March 1, 2003... Recent outsourcing deals have caused a resounding buzz within the executive suites of many insurers. Prominent vendors are proposing seductive deals with no up-front cost, immediate and dramatic savings, and most recently, computing on demand....