Digital Platforms

PHILADELPHIA-- CIGNA Corporation today reported net income for the fourth quarter of 2003 of $290 million, or $2.06 per share, compared with net income of $47 million, or $0.33 per share, for the same period last year.

WOODLAND HILLS, Calif. -- Zenith National Insurance Corp. announced today that its wholly owned subsidiary, Zenith Insurance Company began serving summons and complaints today upon a Santa Ana medical clinic, its owner and manager, accusing them of taking part in a large-scale scheme designed to defraud the company's policyholders. Zenith becomes the first workers' compensation insurance company in the state to sue under a statute that the California Legislature passed specifically to help combat workers' compensation fraud.

CNA Financial Corp. today announced that it has entered into a definitive agreement to sell its individual life insurance business to Swiss Re Life & Health America Inc. (Swiss Re) for approximately $690 million. The business sold includes term, universal and permanent life insurance policies and individual annuity products. CNA's individual long term care and structured settlement businesses are excluded from the sale. Additionally, the Nashville , Tennessee insurance servicing and administration building will be acquired by Swiss Re as part of the sale. Under terms of the agreement, CNA will stop accepting new applications for individual life and annuity products as of March 5, 2004. The transaction is expected to be completed on or before March 31, 2004, subject to certain customary closing conditions and regulatory approvals. Upon completion of the sale, it is anticipated that approximately 300 employees will transfer to Swiss Re.

Accenture has been selected to implement its Claim Components software application at The Hartford Financial Services Group, Inc., one of the nation's largest investment and insurance companies. The pilot implementation is targeted for the third quarter of calendar-year 2005.

CGI Group Inc. and Millbrook Inc. of Bethlehem, PA, announced the signing of a strategic partnership agreement under which CGI will integrate Millbrook's information management solutions suite with CGI's INSideOUT Software, Personal and Commercial Assigned Risk Processing Services, and Massachusetts Insurance Processing Services, to expand value to their customers.

WARREN, N.J.-- The Chubb Corporation today reported that net income in the fourth quarter of 2003 was $72.3 million or $0.38 per share, compared to net income of $56.6 million or $0.33 per share in the fourth quarter of 2002. Operating income, which the company defines as net income excluding after-tax realized investment gains and losses, was $73.1 million or $0.38 per share in the fourth quarter of 2003, compared to operating income of $83.7 million or $0.48 per share in the fourth quarter of 2002.

SACRAMENTO, Calif. -- InsWeb Corp. today announced results for the fourth quarter ended December 31, 2003. Revenues for the fourth quarter totaled $4.1 million, compared to $6.4 million in the fourth quarter of 2002. During the quarter, InsWeb recognized a gain of $6 million relating to the sale of its remaining investment in Finance All K.K., a Japanese corporation."

Docucorp International, a provider of enterprise information solutions, announced today that it signed a software licensing agreement with Liberty American Insurance Group, Inc. The company's subsidiary, Mobile Homeowners Insurance Agencies, Inc., will utilize Docucorp's suite of insurance publishing solutions to enhance the automation of its policy production process.

DxCG Inc., a provider of predictive modeling software for health care organizations, today announced a national agreement with the Blue Cross and Blue Shield Association (BCBSA) to provide RiskSmart to independent Blue Cross and Blue Shield companies.

BRUNSWICK, Maine -- Allenbrook Inc., one of the top three providers of policy processing software and consulting services for the insurance industry, announces that New York Marine and General Insurance Company, a division of New York Marine Group, has signed a licensing agreement for Phoenix adding to a mounting list of insurance companies using Allenbrook's products. The speed-to-market Phoenix solution will provide NYMAGIC, Inc. with an integrated policy processing and

GREENSBORO, N.C. - Jefferson Pilot Corporation, parent of the Jefferson Pilot Financial companies and one of the nation's leading providers of universal and variable universal life insurance and annuities, today reported results for the fourth quarter of 2003. Jefferson Pilot earned $1.01 per share before realized investment losses in the quarter, up 35 percent from fourth-quarter 2002 earnings of $0.75 before realized investment losses. Net income per share for the fourth quarter of 2003 increased 78 percent to $0.82, including net realized investment losses of $0.19 per share, versus net income per share of $0.46 in the fourth quarter of 2002, which included net realized investment losses of $0.29.

Insurance fraud is an $80-billion a year industry-and the bad news is: Organized criminals know it."The word has gotten out," says Dennis Jay, executive director of the Coalition Against Insurance Fraud (CAIF), Washington, D.C. "There are huge loopholes in state legislation that have made insurance fraud at least as lucrative as drug trafficking."

In recent years, a combination of poor planning, bad execution and an inability to properly measure results have conspired to undermined customer relationship management (CRM) initiatives, casting doubt on future insurer investments in this space.Despite these missteps, a growing number of insurance companies have realized that best-practices CRM can become a reality if insurers can somehow summon up the ability to re-engineer their CRM strategies and alter their corporate focus.

The life insurance industry plans a high profile on Capitol Hill this year in an effort to focus policymakers on its agenda, which includes an optional federal charter and a broader array of retirement products.The lobbying effort will include "fly-ins" by company CEOs and other high-level executives to speak to administration officials and key members, briefings and interview opportunities, and introduction of legislation supportive of industry interests. Also to be disclosed shortly is establishment of an "insurance caucus" by members of Congress with great interest in insurance issues.

As the insurance industry continues to focus broadly on growth, cost containment and risk management, new research has identified several strategic initiatives that might provide traction to insurers as they endeavor to improve their businesses.The final segment in a series of six "2004 Perspectives" formulated by Needham, Mass.-based research and consulting firm TowerGroup examines critical business and technology issues and trends that the firm expects will impact financial services.

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 electronic mail to Stephen.Dwyer thomsonmedia.comAccenture

As a small, regional insurer, Wayne Mutual has been outsourcing its IT operations for 20 years. Formed in 1910 as a mutual protective association for local farmers, the Wooster, Ohio based carrier today provides property/casualty insurance to 30,000 policyholders in "the Buckeye state.""Wayne Mutual has never done its own IT processing," says Tim Suppes, vice president of operations at the company, which reported $16.6 million in net written premium in 2002. "We're not big enough to have an in-house staff of programmers," he says.

Feb 02, 2004-- Salmon Ltd, the IT services and consulting firm, today announced the launch of its new underwriting solution. Unlike traditional underwriting solutions, Salmon's is fully Web-based and covers all the key elements of the insurance lifecycle with an integrated solution including claims, reinsurance and management information systems (MIS).

HARTFORD, Conn. -- Travelers Property Casualty Corp. announces that it will now provide Web-based ability to create and print Ocean Cargo Certificates of Insurance to its Ocean Cargo policyholders and their agents.

NEW YORK-- Association Health Plan (AHP) legislation proposed by President Bush to level the playing field for small employers seeking health insurance may instead cause significant disruption, according to a special report published by Fitch Ratings.

Wausau Insurance has contracted with IVANS to use Transformation Station to streamline the submission and quoting process of middle-market business for agents and brokers.

David Findley, senior vice president, Travelers Insurance, has been designated the new chair of ACORD's Board of Directors and Charles "Chuck" McCaig, senior vice president and managing director, Chubb Group of Insurance Companies, has been selected as the new chair-elect. Findley previously served as chair-elect as well as chair of the ACORD Planning Committee. Gregory A. Maciag, president and CEO, ACORD, recently made the announcements.

JERSEY CITY, N.J.--Insurance Services Office, Inc. (ISO) has acquired Quality Planning Corporation (QPC), a San Francisco-based provider of analytic methods for helping auto insurance companies achieve greater rating integrity. Terms were not disclosed.

First Data Corp. has announced the introduction of its Multipurpose Healthcare Card offering, designed to support flexible spending account (FSA) and health reimbursement account (HRA) recordkeeping and claims administration. The program provides an automated process for third-party administrators (TPAs), employers and payers while assisting employees in managing multiple healthcare funds and expenses. First Data's program is a comprehensive suite of services including card personalization and fulfillment, transaction management services and customer service.

Valley Oak Systems, Inc. (VOS), a national provider of claims management software, services and support, has completed development of a new data extraction tool that will streamline the submission of claims data to the Public Entity Risk Institute (PERI), a non-profit organization that oversees the PERI Data Exchange, a national database of public sector liability and workers' compensation claims, judgments, and exposures.

Skywire Software, a leading provider of enterprise software, announced today that it has named Karl Schultz as the company's new chief information officer. Schultz most recently served on the company's executive team as Sr. Vice President, Software Development. Schultz will be responsible for leading the development of the company's products, delivering on successful customer engagements, and overseeing the company's information technology operations.

ATLANTA-- 2004 may be a better year for the insurance and financial services industry, say members of the LOMA board of directors. LOMA's Resource magazine recently surveyed LOMA's directors, who represent global leaders in financial services, seeking their industry forecast for 2004. Most of the directors participating in the survey agreed that, with the U.S. economy showing signs of gradual recovery, things are looking up for industry sales, premiums, and profits.

Frimley UK--Candle Corporation, a leading enterprise infrastructure management provider, today announced that Royal Liver Assurance has selected Candle`s PathWAIsolutions to support the development, implementation and management of its IBM WebSphere application infrastructure using Linux. Candle`s PathWAI solutions enable organisations to accelerate application infrastructure development and deployment, ensure consistent performance and enhance management control.

NEW YORK--Directors and officers (D&O) liability insurance premiums increased approximately 33% on average from 2002 to 2003, according to the Tillinghast business of Towers Perrin's 2003 Directors & Officers Liability Survey.

E-Z Data Inc., a provider of front-office systems for insurance companies, broker-dealers, general agents, agents, and investment advisors, has announced support for StatementOne Web Services through its SmartLink brand of integration tools. SmartLink for StatementOne Web Services is a pre-configured solution that virtually eliminates the cost of integration between StatementOne Web Services and SmartOffice, reduces the cost for the broker-dealer, and enables advisors using E-Z Data's web-based SmartOffice solution to quickly and easily access and use their clients' StatementOne financial data.

Wausau Insurance has unveiled a new one-stop online information source that will make it easier than ever for brokers to meet and exceed their client needs.

The New Jersey Supreme Court issued a unanimous decision Thursday supporting the insurance industry's views that wrongful death and survival actions do not trigger separate "per person" coverage claims under an automobile liability insurance policy.

Milwaukee, Wisconsin--COSS Development Corporation, a specialist in illustration and point of sale systems for the financial services industry, has released Journey 2004. Journey is COSS' premier needs-based financial modeling software. The new 2004 version, for both Web and desktop, is now being distributed to current users as an upgrade.

WASHINGTON, D.C.-- The American Council of Life Insurers (ACLI) applauds the National Association of Insurance and Financial Advisors (NAIFA) for strengthening its position on insurance regulatory reform.

St. Louis, MO--Genelco Software Solutions, a division of Liberty Insurance Services Corporation (LIS), today announced the positive results of a Genelco Group+ benchmark test completed at the IBM eServer iSeries Benchmark Center in Rochester, Minnesota.

New York, January 21, 2004 - Commercial insurance buyers say the cost of property insurance fell 8.8 percent in the fourth quarter of 2003 marking the first decline in premium prices in any major line of commercial insurance in nearly four years, according to the RIMS Benchmark Survey, an industry survey of market conditions released today.

MAYFIELD VILLAGE, Ohio-- The Progressive Corporation today reported fourth quarter 2003 net income of $357.8 million, or $1.63 per share, compared to $152.2 million, or $.69 per share, in the fourth quarter last year. Included in net income are net realized losses on securities of $3.0 million, or $.01 per share, for the fourth quarter 2003, and net realized losses of $37.1 million, or $.11 per share, for the same period last year. Net premiums written and earned increased 21% and 23% to $2,906.4 million and $3,040.0 million, respectively, as compared to the fourth quarter last year. During the fourth quarter 2003, the Company produced a GAAP combined ratio of 85.9, compared to 93.3 in the same period last year. Recurring investment income was $121.3 million before taxes and $90.5 million after taxes, compared to $113.5 million before taxes and $82.0 million after taxes for the fourth quarter 2002.

Millbrook Incorporated of Bethlehem, PA and CGI Group Inc., a leading provider of information technology (IT) and business processing services announced the signing of a strategic agreement under which CGI will integrate Millbrook's information management solutions suite with CGI's insurance business solutions to expand the value to their customers by increasing their collective offering. CGI will add Millbrook's information management solutions to both their suite of outsourced insurance applications and as a component to its licensed insurance software applications. CGI will play the primary role in the marketing and deployment of the combined solutions at its customer's sites. Millbrook's experienced staff will assist CGI, as necessary, in both marketing and deployment efforts.

New Haven, CT- Metaserver, Inc., a leading provider of business process integration (BPI) solutions for the insurance industry, announced it has launched its new iConnect agency interface solution for Property and Casualty carriers. The first of several solutions designed specially for insurance carriers, iConnect P&C is compatible with and extends the capabilities provided by leading vendors in the insurance space such as ChoicePoint, CSC, Duck Creek, ISO, IVANS and others.

Brunswick, Maine--Allenbrook Inc., a leading provider of processing software and consulting services for the Property & Casualty insurance industry, today announced a partnership with Whitehill Technologies, Inc. Whitehill provides companies the ability to extract system data, reformat and automatically distribute the resulting output. The integration of Whitehill's cutting-edge technology with Allenbrook's proven software enables carriers to rise above competitors trapped in paper-intensive processes. This partnership will also increase a carrier's ability to meet stringent reporting requirements with ease and cost-efficiency.

WELLESLEY HILLS, Mass. -- Sun Life Financial has announced the addition of a new single life policy to its portfolio of universal life insurance products.

Fireman's Fund Insurance Company announced today that Frederick Matteson has joined the company as senior vice president and chief information officer (CIO), overseeing all information technology operations.

MALVERN, Pa. -- A new study by the Insurance Research Council (IRC) finds that reported losses in auto injury claims are escalating in spite of the fact that the rate of serious auto injuries has decreased. In the past five years, increases in the average amounts that auto injury claimants report for expenses stemming from their injuries, particularly among personal injury protection and medical payments first-party claimants, are nearly double the annualized growth in medical inflation. Additionally, they are three times higher than increases in general inflation.

HARTFORD, Conn.-- Travelers Property Casualty Corp. today announces the availability of its new master policy to cover identity theft expenses. Financial institutions or other commercial businesses can purchase this policy on behalf of their account holders or customers, or for use as an employee benefit offering. The new policy furnishes expense reimbursement limits from $500 up to $25,000 per covered person to assist in the restoration of his or her financial health and credit history that has been damaged by identity theft.

GREENSBORO, N.C. - Jefferson Pilot Corporation today announced that it has agreed to acquire the U.S. group life, disability and dental business of The Canada Life Assurance Company, an indirect subsidiary of Great-West Lifeco Inc. The reinsurance transaction is expected to close during the first quarter of 2004, following regulatory approvals. Jefferson Pilot will be making a commitment of approximately $200 million to the business, and the transaction is expected to provide Jefferson Pilot modest earnings accretion over the next 12 months after financing and transition costs, and to be more accretive in following years.

EVANSTON, Ill. -- Beacon Research announced today that it has been selected to provide a customized front-end application for BISYS' producer Web site. The application will enable BISYS-affiliated agents and brokers to easily and quickly select the most appropriate fixed annuities for their clients.

Newark, Calif. --Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, performed the risk analysis for the Pylon Ltd securitization covering damage from windstorm for a major European electricity supplier. The innovative securitization is the first for a European corporate and the first such deal worldwide to cover transmission and distribution (T&D) risk.

Aggressive year-end sales efforts by North American life insurers buoyed 2003 year-end results with December application activity showing a 4.7% year-over-year increase according to the MIB Life Index. December application activity in the U.S. and Canada increased 4.9% and 3.5% respectively compared to the same period last year. Year-end strength appreciably buffered overall North American fourth quarter results which declined only 1.3%; averting more problematic declines observed in the prior three quarters. Year-to-date (YTD) results depict a challenging year with U.S. application activity down 4.1% YTD and Canadian activity down 1.4% YTD compared to application activity last year.

HARRISBURG, Pa.--Pennsylvania Insurance Commissioner Diane Koken said today that Pennsylvanians may see a reduction in the premiums on new life insurance policies because of a change in the mortality tables used to calculate the insurance premium.

CHICAGO, Jan 12, 2004 -- Fort Dearborn Life Insurance Company, a wholly owned subsidiary of Health Care Service Corporation (operating as Blue Cross and Blue Shield of Illinois, Blue Cross and Blue Shield of Texas and Blue Cross and Blue Shield of New Mexico), a Mutual Legal Reserve Company, has acquired Omaha Life Insurance Company from Blue Cross and Blue Shield of Nebraska. Fort Dearborn Life is part of the Preferred Financial Group which is comprised of Medical Life Insurance Company (Ohio), Colorado Bankers Life Insurance Company (Colorado) and Fort Dearborn Life Insurance Company (Illinois).

Conshohocken, PA- eMoney Advisor, a leading provider of wealth planning solutions, today announced that First Commonwealth Financial Corporation has selected eMoney's AdvisorPlatform as the basis for its wealth management and planning services offered through First Commonwealth Financial Advisors, First Commonwealth Trust Company and First Commonwealth Insurance Agency. The eMoney system will be used by advisors throughout these affiliates to provide more comprehensive services to their clients.

Prudential Financial, Inc. announced that Barbara G. Koster has been named Chief Information Officer (CIO), succeeding William D. Friel, who will be leaving Prudential and retiring after sixteen years with the company. In this position, Koster will be responsible for overseeing the use of information technology companywide.