Digital Platforms

Inadequate systems outranked talent and capital resources in a Towers Watson poll of insurer pain points.

Compared with the office’s estimate in April 2014, which spanned the 2015-2024 period, the new numbers are $101 billion, or about 7 percent, lower.

The Atlas Cloud P&C System is intended to modernize personal and commercial lines operations for regional carrier.

Agency Revolution's software organizes and streamlines agency marketing efforts

After a single auto insurance claim of $2,000 or more, drivers can expect their premiums to rise by two-fifths, according to a study by insuranceQuotes.com, an insurance aggregator and consumer information company.

Two-thirds of respondents to EY’s global insurance CFO survey say that data are not granular enough and technology is outdated.

New York homeowners have filed at least three lawsuits in federal court accusing the insurers of scheming with engineering firms, and others involved in handling claims to deny or reduce damage payouts.

Financial losses due to insurance fraud cost U.S. insurers at least $80 billion a year, according to the Coalition Against Insurance Fraud, an association of industry, government and consumer organizations. The human cost, in terms of suffering and loss of life, is sky high as well. In an effort to dramatize the scope and depth of the problem, the coalition has singled out what it dubs the worst instances of insurance fraud in 2014. While these seven cases may not be the biggest in terms of total dollars involved, they are remarkable for the brazenness of the crimes and the viciousness of the perpetrators.

A new report from Corporate Insight examines the user experiences of two insurance firms’ telematics programs and finds participants, overall, liked them but there were differences.

The National Insurance Crime Bureau has issued a warning about stolen cars with duplicate VINs and offers website for verifications.

Deloitte’s Sam Friedman suggests the industry can use its influence to impact the national agenda.

Increased cloud and data management investments also are expected in 2015, according to IDC Health Insights report.

Average global rate is six-percentage points higher than general inflation, according to Aon Hewitt.

The filing will also help the company avoid a Securities and Exchange Commission move to appoint a receiver, which could lead to a liquidation and make an appeal of the judgment impossible.

In what has become a buyer’s market, underwriters must get creative to maintain their profitability.

Insurance carriers are dependent on the cloud solutions available to them and even those vendors with other priorities recognize the importance of cloud as a key initiative for the future, according to Celent.

The company in recent months has announced several big cloud computing and analytics wins while also shifting the leadership of global services.

The implementation of the PolicyCenter and BillingCenter platforms is part of a transformation initiative designed to help strengthen the company’s insurance products and customer service capabilities.

New research from LIMRA, which will be presented at its upcoming conference in Orlando, indicates these external disruptions could alter their distribution models within the next five years.

As enterprise customers weigh cloud vs. on-premises infrastructure and applications, CIOs could find vendors offering aggressive price discounts to win or retain business.

The HealthEdge platform is expected to deliver flexible product and benefit designs and real-time claims processing.

Numerous companies are finding innovative ways to use IoT devices.

Interim agency head has operations background in health services.

A new study from BPO and IT services company Genpact finds that insurance executives are most concerned with keeping customers happy, growth and stability and cutting costs, and believe that IT can help address these challenges.

The z13 system can encrypt and analyze data in real time and process 30,000 transactions a second, the company said.

Dan Daniel will serve as Crawford’s VP of catastrophe services, focusing on strategic growth and service delivery.

A new report from Celent indicates insurance CIOs are increasing spending on analytics, core systems upgrades and process optimization to help grow and retain business.

The insurer is consolidating multiple policy admin systems and seeks to enhance customer service and underwriting capabilities.

The consulting company acquired the P&C insurance actuarial service to boost its counsel and enhance its advisory services.

Not-for-Profit health plan serving members in New York to pioneer use of HIE technology to create a secure, reliable Health Information Exchange.

Growing demand for commercial cyber insurance, increased federal regulation and a continuing economic rebound in the U.S. are among their strongest projections.

Investments in advanced analytics, workflow and financial modeling are necessary for reinsurers to overcome stressful market conditions and major losses, according to a new study from Novarica.

The commercial insurer intends to use the applications to improve underwriting precision and gain a more complete perspective on potential risk associated with policies.

The insurer is mounting the strongest opposition yet to a provision of the 2010 Dodd-Frank law, which was passed to prevent future financial crises.

After weeks of uncertainty, President Barack Obama Signed Into Law the Terrorism Risk Insurance Act of 2015, making terrorism insurance affordable and available.

In a speech at the Federal Trade Commission, Obama today will outline a cybersecurity and identity theft program he plans to highlight in his State of the Union address.

Multi-year, multi-million-dollar contract to create software testing center is the insurer’s latest step to enhance its technology.

The P&C insurer will use BillingCenter to manage billing and payment processing across all lines of business in an effort to be more responsive to customers and agents.

An interview on big data challenges with Celent senior insurance analyst Mike Fitzgerald.

The slow pace of innovation leaves insurers vulnerable to disruption.

Overall losses from natural catastrophes were $110 billion, well below the inflation-adjusted average values of the past ten years, according to Munich Re, the German insurer.

Rick Roberts, director of risk management for Ensign-Bickford, has served on the nonprofit’s board for seven years.

Having passed both the House and Senate, the Terrorism Risk Insurance and National Association of Registered Agents and Brokers acts advance toward Presidential approval.

The legislation, which includes a measure to enact the NARAB Reform Act of 2015, now moves to the U.S. Senate for approval, after it expired on Dec., 31, 2014.

The migration will support the company’s move from general to specialty casualty and is intended to facilitate margin optimization and loss control.

The bill now goes to the Senate for a vote that would send the measure to President Barack Obama to be signed into law.

Independent insurance agents are increasingly vulnerable to digital disruption, according to a new Accenture survey.

Berkshire is already among the largest reinsurers of asbestos and environmental policies.

Reinsurers are seeking to shore up earnings as lower losses from natural disasters and a greater availability of capital weigh on prices.

Claim supervisors face challenges in making time to perform their most important task, according to Towers Watson survey

After Months of rate increases, MarketScout says a softer market will require insurers to plan for slight rate decreases at the end of the first quarter and through the end of the new year.

New platform intended to provide centralized, streamlined and automated processing for more than 30 years of data.