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

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

Portals: A Window Of Opportunity.
September 1, 2003... For years, Prudential Financial Services Inc. made Web content available to its customers the way many financial services providers often do-through a comprehensive but indiscriminate packaging of products, services and other miscellaneous...

Eliminating Appraisal Errors.
September 1, 2003... With almost 60% of its homeowners insurance business consisting of coverage for homes valued at $1 million and up, Novato, Calif.-based Fireman's Fund Insurance Co. understands that appraising affluent homes is an extremely tall order. ...

What Do Agents Want?
September 1, 2003... If you ask a group of independent agents to name the technologies on the top of their wish lists, you likely will hear a different answer from each. Some agents want carriers to improve their Web portals, making it easier for agents to...

Carriers Get Back To Basics.
September 1, 2003... Setting priorities, whether in our personal or professional lives, is advice that many experts say will help us stay focused and achieve our goals. Some experts believe we should set these priorities in stone, even when the environment around...

HIPAA Compliance: Health Plans Brace For Transaction Snafus.(Health Insurance Portability and Accountability Act )
September 1, 2003... Although the federal government granted the healthcare industry an extra year to comply with the transactions and code set rules mandated under the Health Insurance Portability and Accountability Act (HIPAA), experts say a procedural mess is...

List Of Transactions.(Brief Article)
September 1, 2003... 270 and 271: HIPAA-compliant transactions for healthcare eligibility. 276 and 277: HIPAA-compliant transactions for healthcare claims status. 278: HIPAA-compliant transaction for healthcare services review for pre-certification and...

Calendar.(Calendar)
September 1, 2003... Group Insurance & Healthcare Marketing & Sales Conference Sponsor: Limra International When: September 3-5 Where: Denver Marriott City Center www.limra.com IRU Fall Conference Sponsor: Intermediaries Reinsurance...

Online Annuities: AnnuityNet's Well-Researched Merger.
September 1, 2003... AnnuityNet Inc., the top-selling Web-based annuity distribution provider, has worked diligently over the past two years to distance itself from its nearest competitor-Info-One/VARDS. Deploying a dynamic front-end Internet distribution...

IN Focus.(AnnuityNet)(Info-One/VARDS)(Brief Article)
September 1, 2003... At Issue: AnnuityNet, the top-selling Web-based annuity distribution provider, is acquiring Info-One/VARDS, its nearest competitor. The Benefits: VARDS' research component is a good complement to AnnuityNet's Web front-end...

Business Alliances.
September 1, 2003... McCamish Acquires PMACS With the acquisition of Hartford, Conn.-based E/W Group, McCamish Systems LLC, an insurance administration systems provider based in Atlanta, has acquired the software and services for the Producer Accounting and...

Industry Research: IT Maintenance Is An Inside Job.
September 1, 2003... Insurers are becoming insular with information technology maintenance and investment priorities. Referring to it as internal "housecleaning," Cary, N.C.-based Sapiens International Corp. states that U.S. insurers are shifting gears to emphasize...

Contracts.(Insurance industry)
September 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...

Perception Gap: Executives Disagree On IT Results.(Brief Article)
September 1, 2003... Asignificant difference in opinion exists between IT and business executives about how well technology projects meet expectations for being on time and on budget-and for delivering promised results. This is a conclusion of a recent survey of...

Software Spending Rising ... But On Fewer Projects.
September 1, 2003... The economy has tempered IT spending within the insurance industry in recent years, as many carriers reigned in their project development to concentrate on essential projects. This year, spending appears to be bouncing back somewhat, according...

Software Acquired Or Developed in The Past 12 Months.(Illustration)
September 1, 2003... (Percentage of survey respondents) By Carriers 2001 2002 2003 Agency management systems * * 45% Policy administration ...

Top Application Development Priorities For 2003-04.(Brief Article)
September 1, 2003... (Percentage of survey respondents) Agents/ Carriers Brokers Web-enabling applications for agent/customer access...

Operating Systems Deployments.(Brief Article)
September 1, 2003... (Percentage of respondents) Agents/Brokers/ Carriers Service Firms Windows 2000/NT Server 82% 73% Windows 95/98/2000 Pro/XP 55% ...

Insurance Spending Plans.(Brief Article)
September 1, 2003... (Annual averages) Agents/Brokers Carriers Service Firms Packaged software 2001 budget: $1,317,400 $120,600 2001 spending: $1,322,900 $44,700 2002 budget: $1,276,800 $126,400 2002...

Farmers Gets A Better Grip On Information Technology Planning.
September 1, 2003... Carriers cannot afford to allow IT projects to spin out of control. That's why Farmers implemented project management software, a decision which resulted in an instant payback. Project management software won't increase a carrier's market...

IN Focus.(Farmers Insurance Group)(Brief Article)
September 1, 2003... Case Study: Farmers Insurance Group At Issue: Executives wanted a tool that would help standardize IT implementations, reduce costs and better manage IT projects. The Solution: PlanView Inc.'s project management solution. The...

Carriers Call On Telecom Specialists To Cut Networking Costs.
September 1, 2003... Telecommunication costs are high and rife with errors and inefficiencies. As a result, insurers are looking for ways to manage those costs more effectively, including contracting with cost management firms and turning to their telecom...

IN Focus.(insurers' telecommunications costs)(Brief Article)
September 1, 2003... The problem: While insurers are becoming more dependent on real-time communications, their telecommunications costs are typically their third- or fourth-largest expense item. What's more, 7% to 12% of those telecom costs are erroneous. ...

Average Annual Telecom Spending.(Illustration)
September 1, 2003... (In $ millions) Fortune 500 Mid-Market Service Company Company Long distance wireline voice $24.9 $5.7 Data services $40.9 $9.4 ...

Embarking on a pilgrimage to portals.
September 1, 2003... Harvard Pilgrim Health Care serves more than 765,000 members, 22,000 medical providers, 2,000 employees and a community of independent brokers. With so many disparate constituents to accommodate, the Wellesley, Mass.-based provider decided in...

Agency Bridges To Carriers.(Brief Article)
September 1, 2003... TransactNOW. Developed by AMS Services Inc., Windsor, Conn., TransactNOW uses scripting technology and interacts with carriers' Web sites at the network level to enable interface communication between AMS agency management systems and carriers'...

CUNA Mutual cashes in on EIM.(enterprise incentive management)
September 1, 2003... In the intense battle for "shelf space," one of the insurance industry's most powerful weapons is producer compensation. CUNA Mutual Group knew this back in early 2001 when it began to reinvent its approach to field compensation....

Pru Distributes On iPipeline.(Brief Article)
September 1, 2003... Prudential Financial Inc., Newark, N.J., is electronically distributing products through Exton, Pa.-based iPipeline. Using iPipeline's Web-based tools, brokerage general agents can publish Prudential's life, annuity and long-term care products...

Nationwide Earns Trust.(Nationwide Mutual Insurance Co.)(Brief Article)
September 1, 2003... Columbus, Ohio-based Nationwide Insurance has been certified to display the TRUSTe Privacy Seal on its Web site. TRUSTe, a San Francisco-based privacy certification and seal program, awards its privacy seal to companies that complete a...

MIB Launches New Web Portal.(MIB Group Inc.)(Brief Article)
September 1, 2003... MIB Group Inc., a Westwood, Mass.-based provider of Internet-based risk management information for life, health, disability and long-term care insurers in North America, has launched a new Web portal design that consolidates three MIB sites....

Site Posts FS Jobs.(Brief Article)
September 1, 2003... Dallas-based FSJobs Inc. has launched a job board Web site catering exclusively to the financial services industry. Located at www.FSJobs.com, the site's services include job search, job posting, resume database, e-mail job alerts, matching...

Empire Grabs Online Award.(Brief Article)
September 1, 2003... New York-based Empire Blue Cross Blue Shield received the Best Health Care Integrated Advertising Campaign Award in the Web Marketing Association's 2003 Internet Advertising Competition Awards. The award honors excellence in online advertising...

Site Defends State Regulation.(Brief Article)
September 1, 2003... The Alliance for Sound State Uniform Regulatory Efficiency (ASSURE) has launched a new Web site, www.assureusa.org, which is designed to serve as an educational, advocacy, and recruitment tool for the coalition's efforts to defend and improve...

IN Focus.(Brief Article)
September 1, 2003... Cast Study: Fireman's Fund Insurance Co. At Issue: Improving the accuracy of appraisal reports for high-value homes. The Solution: Expert Valuation System, from e2Value, Stamford, Conn. The Results: Appraisers...

Arm Employees With Intelligence.
September 1, 2003... In today's tough economic climate, insurers are striving to increase productivity and efficiency while keeping expenses in check. And, due to escalating competition, they are also doing more to retain existing customers. As a result, many...

Transforming Underwriting Behavior.
September 1, 2003... No one would argue against the fact that the insurance industry has been engulfed in a perfect storm over the past few years. Consolidations, monumental loss experiences, economic turmoil and investment declines have conspired together as never...