Analytics

SAN FRANCISCO--Esurance, a direct-to-consumer personal auto insurance company, has selected ProcessClaims to provide a customized software management platform to support Esurance's expanding claims organization. Esurance believes that ProcessClaims' ClaimsPort material damage management system will increase claims handling efficiency, decrease cycle time costs, and scale with Esurance's rapid growth.

Forty-six percent of U.S. insurance organizations identified the lack of historical databases as a major cause of poor claims management, according to a recent customer poll conducted by Insurance Services Office Inc. (ISO), Jersey City, N.J. This follows an earlier ISO poll in which 78% of insurance organizations said reducing the rising cost of claims handling is their single most important goal for 2004.The poll asked insurance organizations to identify the most likely reason for paying injury claims incorrectly. Of the five options, just under half (46%) identified lack of historical databases as a major cause, and 20% cited lack of medical knowledge as the second most probable reason. Sixteen percent said inadequate negotiation skills, while 13% cited claims adjusters' inexperience.

Following the first quarter of integration activities, Prudential Retirement, a business of Prudential Financial, Newark, N.J. has moved out of the initial planning phase of integration and is now focused on the next phase, implementation of enhanced products and services for the retirement markets it serves."In just about 100 days, we've built the foundation for a new, stronger, and more dynamic Prudential Retirement," says John Y. Kim, president of Prudential Retirement. "In fact, strategic plans have been completed for all full-service retirement businesses, each of which is now working hard to enhance existing products and develop new ones," he adds.

New York--The Catastrophe Risk Exchange International, Inc. (CATEX) announced today that it has completed delivery of a Web based Property Aggregate Monitoring System to facilitate the underwriting of facultative property business by the reinsurer QBE Reinsurance Corporation (QBE).

SOMERS, NY --IBM today unveiled new PartnerWorld Industry Networks for independent software vendors (ISVs) focused on the government and insurance industries. IBM also introduced new technical offerings and expanded initiatives that can help ISVs participating in the PartnerWorld Industry Networks speed solution development and ensure interoperability with IBM's middleware portfolio.

CHATTANOOGA, Tenn.-- UnumProvident has received a top ranking for the success of its individual income protection insurance sales, according to JHA's 2003 U.S. Individual Disability Market Survey.

NEW YORK-- Swiss Re's chief economist said today that strong economic growth, coupled with a slight uptick in inflation, will force the Federal Reserve to raise the federal funds rate to close to 2 percent by the end of 2004.

The Guardian Life Insurance Co, of America, New York, has selected iLinc Communications Inc. to provide Web conferencing for the insurers' 5,500 employees and 2,800 financial representatives in 94 agencies nationwide.Phoenix-based iLinc Communications offers integrated Web and audio conferencing solutions using a combination of Secure Sockets Layer (SSL) and Advanced Encryption Standard (AES) that can reside inside an organization's network. This combination provides end-to-end security for all data, video, and voice-over-IP exchanged within an online meeting, according to iLinc.

SPOKANE, Wash.-- Itronix Corp., a developer of wireless, rugged mobile computing solutions, announced today that its GoBook II wireless, rugged laptop has been certified by the insurance industry's top three software providers, including ADP Claims Services Group, a wholly owned subsidiary of Automatic Data Processing, Inc., CCC Information Services Inc., and Mitchell International Inc.

ATLANTA-- SellingLTC.com, LLC, the leader in providing long-term care sales and marketing solutions for insurance producers, today announced the release of its new LTCI Mobile Support feature which allows SellingLTC.com subscribers to download the best of SellingLTC.com's sales support modules to a laptop computer and access the information even when it's not possible to access the Internet.