Digital Platforms

ANNAPOLIS, Md. - A report issued by the Maryland Insurance Administration (MIA) on the use of credit-based insurance scoring found no basis for any conclusion that credit history is skewed toward ethnic minorities or low-income individuals.

Arthur J. Gallagher & Co. today announced the acquisition of R. P. O'Brien & Co., Inc. of White Plains, New York. Terms of the transaction were not disclosed.

Although the hype surrounding offshore insurance business process outsourcing (BPO) is rising, insurers are reluctant to "go there" with their core processes. Meanwhile, the vendors have not yet proven their domain expertise. This is according to recent research conducted by Stamford, Conn.-based Gartner Inc.

The Customer Respect Group, an international research and consulting firm that focuses on how corporations treat their customers online, today released the results of its Winter 2004 Online Customer Respect Study of insurance firms that rank among the countries largest 1000 companies.

Cambridge, MD--G. Philip Feldman, CEO of technology insurance provider ISG International, announced today that the company has launched breakthrough technology on its CCBsure Web site that provides Businessowner's Property and Casualty (P&C) Liability insurance coverage to independent computer consultants, in real time, over the Internet. No insurance provider has ever offered immediate, automated P&C business insurance coverage before.

Cedar Rapids, Iowa--Fiserv, Inc. has introduced eFreedom Investment Management powered by BasisPoint, a fully integrated portfolio management and investment accounting solution that supports each step of the trading process--from order processing through trade execution, accounting, international settlement support and regulatory reporting. As trading practices become increasingly complex and global, more and more organizations need the comprehensive multi-currency, multi-basis, investment accounting capabilities found in eFreedom Investment Management to track business activity and report to regulators.

Uniondale, NY--OnlineBenefits, Inc., provider of Internet-based HR solutions, announced today that it has entered into a long-term strategic partnership with Digital Insurance to distribute Benergy as an employee communication solution for its clients.

Learn.net and InsuranceStudy.com have signed an agreement that will allow InsuranceStudy.com's online continuing education (CE) courses to be immediately available to Learn.net's online learning customers. InsuranceStudy.com, headquartered in Northbrook , IL , provides more than 60 insurance industry CE courses and is certified to provide CE training in all 50 states. Learn.net customers who must meet state-mandated CE insurance requirements can now link directly to the InsuranceStudy.com web site to learn about and take courses.

BELLEVUE, WA - SAFLINK Corporation, a leading developer, marketer and integrator of biometric security solutions, announced today that North Carolina-based A4 Health Systems has used SAFLINK's Software Development Kit (SDK) to design and deploy a solution in its efforts to meet new security requirements in Ohio that call for dual authentication of pharmaceutical orders within the hospital setting. The first phase of the solution is scheduled for deployment to more than 500 users at Mount Carmel East, West, and St. Ann's of Columbus, Ohio.

NASHUA, N.H. -- SkillSoft PLC, a leading provider of enterprise e-learning, today announced that Humana Inc., one of the nation's largest publicly traded health benefits companies, signed a two-year agreement to license a SkillSoft multi-modal learning solution. The integrated solution encompasses more than 1,000 e-learning courses spanning a variety of IT technologies and desktop applications; 24x7, online mentoring support for IT professionals; and more than 3,000 online, unabridged Referenceware titles. With multi-modal learning, professionals can access a variety of formal and informal learning resources through a single, unified search and then select the appropriate resources based on information needs, available time, and learning preferences.

ATLANTA-- Connecture, a leading provider of integrated Web-based sales and service automation solutions for the health insurance industry, announced it has signed a national agreement with Blue Cross and Blue Shield Association (BCBSA), the association for the nation's 41 independent Blue Cross and Blue Shield health insurance Plans, which collectively insure more than 88.3 million Americans.

AMARILLO, Texas--Corporate Systems Inc. a recognized leader in Property-Casualty claims lifecycle management and reporting solutions, announced the successful implementation of CS ClaimSuite with Everest National Insurance Company. This implementation represents an expanded usage of Corporate Systems products to Everest's branch office located in Southern California.

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.