Customer experience

The health care reform bill passed by the Senate on Christmas Eve includes several improvements advocated by the organizations that represent insurance brokers and advisers in Washington. For the most part, however, those groups remain opposed to the Senate bill — and more so the version approved by the House.

Bank of America Corp.'s lawsuit against MGIC Investment Corp. reflects escalating tensions in the industry over mortgage insurers' denials of claims that lenders submit for defaulted home loans.

Countrywide Financial Corp., now owned by Bank of America Corp., will have to reimburse as many as 17 million victims of the breach free and offer credit monitoring as a result of a settlement that was approved by a U.S. District Court Judge Thomas B. Russell in Kentucky. The Associated Press reports that the settlement calls for Countrywide give the victims, including anyone who obtained a mortgage and anyone who used Countrywide to service a mortgage before July 1, 2008, free credit monitoring and up to $50,000 in reimbursements per instance of identity theft, provided they actually lost something of value, were not reimbursed and can prove the loss more likely than not stemmed from the Countrywide breach.

Boston-based Massachusetts Mutual Life Insurance Company is closing its recently formed MassMutual Retirement Income (MMRI) unit, according to a report in Investment News. The unit was formed in April 2007 to deliver “advisor-focused solutions for customers’ accumulation and guaranteed lifetime income needs.”

Search is now generating thousands of new policies for agents and carriers, making it an indispensable part of their marketing strategy.

Across categories, 66% of claimants who give their carriers high satisfaction scores will renew their policies, but only 49% who give carriers low satisfaction scores plan to renew.

Survey results show younger generation more open to being approached via non-traditional channels.

Despite research indicating that 41% of online insurance consumers are interested in PAYD policies, why hasn't this seemingly innovative and intuitive program been adopted by more states, or backed by regulatory groups?

The few insurers that have released mobile apps have but, eventually, every insurer that has invested in a Web-based channel will be taking full advantage of every mobile device.

A panel of insurance technology experts share tips and tricks for putting innovation into play.