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

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

Analytics Drive Online Auto Policy Sales.
March 1, 2004... The question still remains whether a critical mass of consumers will actually purchase insurance online-not just research options and get quotes. But 21st Century Insurance Group is betting they will. Even with that belief driving its...

A New Look At Operational Risk.
March 1, 2004... Who knows what the future holds? While the U.S. Department of Homeland Security is actively investigating terrorist communications and activity to prevent possible attacks, insurers are beginning to understand the necessity of taking a new,...

Reducing The Workload.
March 1, 2004... For years, administration of workers' compensation insurance at Boston-based OneBeacon Insurance Group was viewed as an occupational hazard-a bona fide accident waiting to happen. With antiquated operating systems trying to support the...

Check Out Our Web Site.(www.insurancenetworking.com)
March 1, 2004... The Internet has profoundly influenced how insurance products are marketed and sold, and how information is shared between carriers and their customers, both agents and policyholders. In this month's issue, we have an article, "Analytics Drive...

GMAC Insurance, OnStar Build Insurance Sales Vehicle.
March 1, 2004... In real estate, the three keys to success are location, location and location. Two General Motors Corp. subsidiaries are combining synergies to offer the auto insurance version of this time-honored theory. As part of a three-state pilot...

INN Focus.(GMAC Insurance plans)(Brief Article)
March 1, 2004... The Terms: GMAC Insurance plans to leverage the capabilities of OnStar's in-vehicle safety and security system to offer OnStar subscribers new insurance products. The Benefits: Customers will be eligible for auto premium discounts...

Calendar.(Calendar)
March 1, 2004... Workers' Compensation Management Sponsor: Risk and Insurance Management Society Inc. When: March 4-5 Where: University Club of San Francisco www.rims.org 18th Annual Legislative/Regulatory Conference Sponsor:...

Minorities And Low-Income Harmed, Missouri Study Reveals.
March 1, 2004... Although nearly half of the states have passed laws allowing insurance companies to use credit-based insurance scores to assess and price risk-albeit with some restrictions-a new study reveals that the practice disproportionately harms...

INN Focus.
March 1, 2004... The issue: Many states have enacted laws allowing insurers to use credit scores to assess and price risk. But the Missouri Department of Insurance released a new study that reveals credit-based insurance scores disproportionately harm...

Sarbanes-Oxley Act: A Long-Term Opportunity Awaits.
March 1, 2004... As insurers hatch strategies to comply with the Sarbanes-Oxley Act (SOX), a new report suggest that they should view the law "as a catalyst for much-needed and long-delayed business transformation objectives," triggering "long-overdue...

INN Focus.
March 1, 2004... At Issue: The Sarbanes-Oxley Act of 2002 requires corporate executives to personally certify quarterly and annual financial statements and take responsibility for ensuring their accuracy. The Opportunity: According to TowerGroup,...

Product Previews.
March 1, 2004... COSS Upgrades Financial modeling software COSS Development Corp., a Mequon, Wis.-based specialist in illustration and point-of-sale systems for the financial services industry, has released Journey 2004. Journey is COSS' needs-based...

In sizing up SOX compliance, federal regulators say corporations should take the following steps:.(Sarbanes-Oxley Act of 2002)(Brief Article)
March 1, 2004... * Prepare to deliver greater transparency of transactional data that feeds financial reporting. * Prepare for shorter reporting deadlines. For 10-K annual reporting, corporations will have to report results within 60 days instead of 90...

Business Alliances.(miscellanious)
March 1, 2004... Claims Firms Team For End-To-End Solution Boston-based First Notice Systems Inc. and Guidewire Software Inc., a San Mateo, Calif.-based provider of claims solutions to property and casualty and workers' compensation insurers, have formed a...

Asbestos Resolution Appears Unlikely In 2004.
March 1, 2004... Although lobbyists on Capitol Hill remain optimistic that the asbestos liability malignancy can be resolved through legislation, it appears unlikely that the gaps in current talks toward an alternative dispute resolution mechanism for asbestos...

Contracts.(list)(Brief Article)
March 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...

Portal Investment Key To ROI.(return on investment)(Brief Article)
March 1, 2004... One component of carriers' distribution strategy has been to build distributor portals or extranets that enable an agent or broker to log in to a carrier's Web site to obtain company or customer information. A Gartner Inc. study conducted in...

Norcal Takes The Application Path Of Least Resistance: Instead of spending years writing programs for an enterprisewide legacy replacement IT system, Norcal Mutual Insurance Co. took the high road. But there were some boulders and fallen trees along the way.
March 1, 2004... There's no way around it: It takes a long, long time to develop the software programs for a new underwriting and billing system. Then throw into the mix the risk of the internally built system not working properly, taking longer to implement,...

INN Focus.
March 1, 2004... Case Study: Norcal Mutual Insurance Co. At Issue: The medical malpractice insurer needed a new application in order to carryout billing, claims and underwriting functions in a modern-day manner. It faced the classic "build vs....

At A Glance.(Norcal Mutual Insurance Co.)(Brief Article)
March 1, 2004... * Norcal Mutual Insurance Co. * Headquarters: San Francisco * Gross Premium: $200 million in 2003 * Employees: 250 * Major Business Line: Medical malpractice insurance Copyright 2004 Thomson Media Inc. All Rights Reserved....

Synchronizing Components Produces The Payoff: The success of Donegal Mutual's new document imaging and workflow solution is the result of the carrier's insistence on a strong systems integration blueprint.
March 1, 2004... Donegal Mutual Insurance Co. has reaped many benefits from its system integration efforts over the years. Executives with the Marietta, Pa.-based provider of personal, farm and commercial insurance admit that their strategy of implementing...

INN Focus.
March 1, 2004... Case Study: Donegal Mutual Insurance Co. The Task: The Marietta, Pa.-based provider of personal, farm and commercial insurance products was seeking to implement a document imaging solution that would not only be robust but could...

Mapping Technology Exposes Data Entry Errors.(Brief Article)
March 1, 2004... Gen Re Intermediaries is not in the business of uncovering operational risk for its clients; the Stamford, Conn.-based subsidiary of Gen Re advises property/casualty insurers on their catastrophe risk. But, the company uses mapping technology...

Workflow Issues Impair Administration.
March 1, 2004... Processing workers' compensation insurance involves participation and input from many parties, the majority of whom operate from multiple and disparate operating systems. As a result, the emergence of Web-based, real-time data exchange...

A View of the Entire Claim.
March 1, 2004... There are still a large number of workers' comp providers that struggle with the process of pinpointing characteristics of claims. At the heart of the matter is the fact that producing a clear picture of a workers' comp claim "is similar to...

INN Focus.
March 1, 2004... The issue: 21st Century Insurance, a direct-to-consumer automobile insurer, decided four years ago to make online marketing and sales a strategic focus. Action taken: Shortly thereafter, the company implemented an online marketing...

Wausau's Site For Brokers.(Employers Insurance of Wausau A Mutual Co.)(Brief Article)
March 1, 2004... Wausau Insurance Cos. has unveiled a one-stop online information source for brokers. By accessing the new secure "Producer Portal" site via www.Wausau.com, brokers can obtain the up-to-date information on their clients insured with Wausau. The...

Ocean Cargo Certificates Available Online.(Travelers Property Casualty Corp.)(Brief Article)
March 1, 2004... Travelers Property Casualty Corp., Hartford, Conn., is providing the ability to create and print Ocean Cargo Certificates of Insurance via the Web to its Ocean Cargo policyholders and their agents. Ocean cargo insurance covers various exposures...

Allstate Creates Agent Sites.(Allstate Insurance Co.'s individual agency web sites )(Brief Article)
March 1, 2004... Allstate Insurance Co. has expanded the Web presence of its 11,000 exclusive agents by creating individual agency Web sites that provide consumers local auto, home and financial services product information, insurance quoting capabilities and...

Hartford Endorsements Through AMS Systems.(Brief Article)
March 1, 2004... Submitting endorsements to insurance policies from The Hartford just got faster and easier for the thousands of insurance agents who use an AMS agency management system from Windsor, Conn.-based AMS Services Inc. The Hartford, Conn.-based...

Kaiser Provides Information Access For All.(Kaiser Foundation Health Plan Inc.)(Brief Article)
March 1, 2004... Kaiser Permanente has redesigned its Web site providing all consumers-whether or not they are Kaiser Permanente members-with access to up-to-date, physician-approved health care information. The new site offers free, non-commercial access to...

LTCWebsites Changes Name To SellingLTC.com.(Brief Article)
March 1, 2004... LTCWebsites.com LLC, an Rabun Gap, Ga.-based provider of long-term care insurance sales support and marketing solutions, has changed its name to SellingLTC.com LLC in conjunction with a major renovation of its product offerings. SellingLTC.com...

Free Technology For Doctors From Georgia Blues.(Blue Cross Blue Shield of Georgia)(Brief Article)
March 1, 2004... Blue Cross Blue Shield of Georgia, an operating subsidiary of WellPoint Health Networks Inc., has launched a networkwide technology initiative to help physicians better serve their patients, achieve greater efficiencies, and reduce costs. The...

Anthem Members Compare Hospitals Online.(Anthem Blue Cross and Blue Shield's www.anthem.com)(Brief Article)
March 1, 2004... Anthem Blue Cross and Blue Shield has introduced online hospital quality comparison tools and medical treatment decision-support information for its members. The interactive capabilities, available at www.anthem.com through Subimo's Healthcare...

MassMutual Releases FieldNet Version 3.0.(Massachusetts Mutual Life Insurance Co.)(Brief Article)
March 1, 2004... Massachusetts Mutual Life Insurance Co. has launched its FieldNet Version 3.0 Web platform to accelerate communication and workflow among the company's 4,100 career agents. Culminating more than 18 months of system analysis and design, FieldNet...

NCOIL Restricts Access To Site.(National Conference of Insurance Legislators's www.ncoil.org)(Brief Article)
March 1, 2004... The National Conference of Insurance Legislators (NCOIL), Albany, N.Y., is restricting access to its Web site at www.ncoil.org. The new password system will privatize access to adopted NCOIL models and resolutions, NCOIL reports and issue...

NAT Launches Aftermarket Gateway.(NAT eGateway)(Brief Article)
March 1, 2004... Rosemont, Ill.-based NAT Inc. has launched The NAT eGateway, an automotive aftermarket products and insurance digital hub. The hub connects auto retailers with their aftermarket providers in real time to help dealerships present and sell...

IT Spending Trends: After two years of sluggish investments in technology, carriers are hiking their IT budgets.(Brief Article)
March 1, 2004... The days of shrinking IT budgets appears to be over for carriers. Recent research by such firms as Celent, Datamonitor and Forrester concludes that carriers plan on increasing their IT spending on average between 2.5% and 6.7%. However, INN's...

Index Of Advertisers.
March 1, 2004... Advertiser Site Addresses Page # ACORD www.acordlomaforum.org 15 APU www.apusolutions.com 17 CGI ...

Analytics Ease Workers' Comp Worries: With decision management support, many organizations have been able to double the productivity of their bill review staff.
March 1, 2004... Nationwide, the average cost of workers' compensation insurance has risen 50% in the last three years. This dramatic surge is due to several complex factors. In the last five years, medical costs in some states have increased 125% per...