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

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

Insurers Tackle A Tough Enemy: To aggressively and successfully fight fraud, insurers need the proper balance of trained technology. And they need organizational commitment to fightprofessionals and the good fight.
May 1, 2005... As director of MetLife Auto & Home's special investigations unit, John Sargent knows that eliminating fraud is an unachievable goal. But that hasn't stopped his company or other industry leaders from trying. "Our goal is to pay what we...

Ian Sheridan Wants To Change The World.(MassMutual Retirement Services)
May 1, 2005... Ian Sheridan has a sign on his door that reads: "How will you change the world today?" The vice president of marketing and business development for MassMutual Retirement Services is serious about answering that question. He wants to change the...

Fraud Mitigation Requires Coordinated Effort.
May 1, 2005... In some ways, insurers' fraud-fighting efforts are similar to this nation's so-called war on drugs: Both endeavors require the right mix of people, technology and information to identify the criminals. Also, public awareness campaigns are part...

N.Y. Life Cited For Web Excellence.(New York Life Insurance Co)
May 1, 2005... With industry research indicating that many individuals don't understand their annuity and life insurance needs, the responsibility falls on insurers to provide product research and needs-analysis to customers. While meeting with a...

Nationwide Acquires RIA To Bolster Its 401(k) Offerings.(Registered Investment Advisors Services Inc.)(Nationwide Financial Services Inc.)
May 1, 2005... In a move to strengthen the services it provides to sponsors of defined contribution plans such as 401(k) plans, Nationwide Financial Services Inc. in April purchased a company that provides third-party money management services to plan...

Carriers Expand Their Use Of Imaging Technologies.
May 1, 2005... Industry experts often criticize insurers as being "laggards" in adopting new technologies. But carriers are leading most other industries when it comes to adopting scanning and imaging technologies, a new study concludes. For example, 86%...

Contracts.(Brief Article)
May 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...

Calendar.
May 1, 2005... Enterprise Risk Management Symposium Sponsor: Casualty Actuarial Society When: May 2-3 Where: Sheraton Chicago Hotel www.casact.org Life Insurance: Operational Financial Analysis Sponsor: Intermediaries & Reinsurance...

Performance Issues Underpin Projects.(usage of XML (Extensible markup language))
May 1, 2005... As Web services continue to move closer to mainstream acceptance for application development, new research indicates performance concerns now exceed network security issues as a factor that's limiting adoption. A recent study by RESolution...

Product Previews.
May 1, 2005... AIR EXPANDS LIFE CAT MODELING Boston-based AIR Worldwide Corp. is expanding its catastrophe modeling services for life, accident and health, and disability insurers internationally. Since initially introducing the service in 2003 for U.S....

Loyalty Hinges On Proper Mix.
May 1, 2005... Most independent agents and producers have a choice of carriers with whom they can place their business. For insurers, understanding what influences independent agents' selection is crucial in a market where the number of independent...

The Importance of Face Time.(customer relationship management)(MassMutual Retirement Services)
May 1, 2005... When asked what constitutes good customer service, M. Dale Janes says, "First and foremost, it means listening to your customer." And the most effective way to listen to your customer is to have face time, he says. The senior vice...

Failure Is Not An Option: Business continuity used to be a problem for IT to solve. Now it's much broader, given stipulations from trading organizations and regulations such as HIPAA and SOX.(Health Insurance Portability and Accountability Act)(Sarbanes-Oxley Act of 2002)
May 1, 2005... For insurance carriers, brokers and agencies, the ability to recover quickly from a systems outage or disaster is critical to their business-and, increasingly, may be mandated by law or industry oversight groups. As a result, business...

A Relationship-Oriented Numbers Guy.(Dennis S. Callahan)(Guardian Life Insurance Company of America)
May 1, 2005... As an undergraduate at MIT and New York University, Dennis Callahan majored in mathematics. So, it's not so surprising that the CIO of Guardian Life Insurance Company of America has been so successful at focusing on the numbers at the New...

Facts Win The Day At CAN.(CNA Financial Corp.)(John Golden)
May 1, 2005... When John Golden took control of IT at CNA Financial Corp. in late 2001, he faced the same challenges many CIOs are still grappling with: How do you transform diverse legacy systems into a modern platform that enables faster product...

There's No Place Like Home.(Michael Bernaski)
May 1, 2005... If it weren't for a bad case of writer's block, Michael Bernaski might be a famous novelist right now. Instead, he's the CIO and senior vice president of property-casualty e-business and technology at The Hartford Financial Services Inc. ...

Fraud Technologies.(Brief Article)
May 1, 2005... Most fraud-fighting tools fall into one of three categories: Rules-based systems, also known as expert systems, "score" the probability that a claim has some element of fraud. Data elements from a claim-names, addresses, descriptions of...

Erie's High-tech Game Plan Starts with Succinct Business Strategy.(Erie Insurance Group Inc.)(fraud investigations)
May 1, 2005... At Erie Insurance Group, the foundation for fighting fraud is a business strategy that defines objectives, quantifiable goals, and tactical and operational plans: What is the company trying to accomplish? Does the company have enough resources...

A Digital Roadmap To Underwriting Success: A geographic information system is helping Greater New York Insurance Cos. get a better handle on risk exposure by identifying where the good and bad risks exist in the Big Apple.
May 1, 2005... In the aftermath of the terrorist attacks in 2001, many property/casualty insurers are now reassessing risk assessment strategies in metropolitan areas. As they do, the process involves looking deeper beneath the surface-literally. For...

e.Business Briefs.
May 1, 2005... IVANS STUDY REVEALS SECURITY CONCERNS FOR AGENTS Internet security is a major concern for independent agents, according to a recent survey by IVANS Inc., Old Greenwich, Conn. A full 80% of agents are most worried about viruses and worms,...

Index Of Advertisers.
May 1, 2005... Advertiser Site Addresses Page # ACORD http://cartoons.acord.org 23 AdminServer www.adminserver.com 5 ALLFINANZ...

Standards Can Revolutionize The Industry: By using a single standard, insurers, partners, and vendors will finally all speak the same language.
May 1, 2005... The past several years have been financially devastating to the insurance industry. Flagging interest rates, a volatile economy and continued growth stagnation across insurance segments have forced many insurers to shelve new productivity...