Digital Platforms

The web-based, policy, billing, claims and reinsurance insurance administration system from Maximum Processing is intended to help the insurer improve client offerings, productivity and operational efficiencies.

The cloud has become a significant part of the IT environment at many organizations, as they adopt public, private and hybrid cloud strategies. Here are some of the interesting developments in the area of cloud services during the past year.

New offerings target MGAs, TPAs, workers comp, self-insureds and mutual carriers

IT modernization effort focuses on more adaptive product roll-outs and improved customer experience.

Blind-spot and lane-departure systems are immature, and drivers must still learn how to use them, according to AAA engineering experts.

The insurance industry’s list of cars and trucks that do the best job of keeping owners alive in a crash jumped 82 percent this year against a backdrop of U.S. recalls of older models that were killing their passengers.

Claims solutions from Accenture and Guidewireare deemed best in class for technology, functionality and customer service.

By leveraging a managed SaaS solution, the global insurer gains greater flexibility across both its internal and customer-facing processes.

J.D. Power and RIMS report that large business commercial insurance customers are most satisfied when insurers and brokers deliver on customer service, price and claims.

The near failure in 2008 of American International Group Inc., which required a $182.3 billion bailout, highlighted the risks of insurers.

Minority of consumers and administrators think the system is on the right track.

Insurance Technologies’ ForeSight and FireLight streamline the end-to-end sales process in the office or in the field.

New technology from Vlocity enables Silicon Valley broker to quickly connect a Salesforce front-end to its Vertafore back-end.

The insurer expanded this year to more than $900 billion in assets, passing Goldman Sachs Group Inc. to become the fifth- largest company in the Standard & Poor’s 500 Index on that basis.

Efforts to reauthorize the Terrorism Risk Insurance Act for six years fell apart after Senator Tom Coburn, an Oklahoma Republican who is retiring, held up the legislation.

A new report from technology research and advisory firm Ovum identifies the five key trends, from ongoing differences between employers and employees to increased demand among SMEs for mobility.

Insurity’s integrated policy, billing, claims, reinsurance and enterprise data platform was selected as part of Caterpillar’s core-systems modernization initiative.

P&C Insurer is replacing multiple legacy systems to gain business agility while easing IT burdens.

The Coalition to Insure Against Terrorism warns that if the insurance-industry protection program isn't re-upped, places and events that look enticing to terrorists won't be able to get the insurance they need.

Insurers create special-purpose entities in states with less-restrictive rules and shift customer policies into those units.

House unanimously passed the bill; insurers had lobbied for the change to the 2010 Dodd-Frank financial-regulation overhaul.

The software solutions are intended to help the P&C insurer boost customer service and time to market by streamlining underwriting, policy admin, claims and business intelligence.

Mobility, agility and the Internet of Things are driving enterprises to invest in more efficient and agile approaches to integration, according to research and consulting firm Ovum.

Senate approval would move the measure to President Barack Obama for final approval.

89 percent of executive surveyed by General Electric and Accenture said that companies that do not adopt a big data analytics strategy in the next year risk losing market share and momentum.

Celent finds that U.S. and UK consumers are willing to share data about themselves under the right circumstances.

Celent offers a Digital Insurance Proposition Continuum for benchmarking industry offerings.

SteelHead appliance improves performance of critical, centralized insurance-specific software.

Novarica proposes a seven-point enterprise architecture governance checklist to mitigate risk and keep IT aligned with the business, while still optimizing agility.

Majority Leader Harry Reid, a Nevada Democrat, told reporters today he didn’t expect the insurance plan extension to be part of a must- pass federal spending measure being negotiated this week.

The group of federal magistrate judges in Brooklyn and Central Islip rejected arguments by insurers that disclosure was unfair or burdensome.

Cynosure was founded in response to a growing need for expertise in driving successful platform implementations and modernization initiatives.

The reduction is due in part to new technologies and better investigations, according to NICB research.

Options provide personalized healthcare experience; plans include free access to mobile apps, resources and tools designed help participants to make informed decisions.

A new Ernst & Young study reveals that insurers may be able to combat turnover with more frequent and relevant communications.

Enterprises are looking to hire, especially in cloud and mobile computing, according to IT consulting firm Janco Associates.

Modest premium increases of 1 percent to 4 percent reflect overall market stability and low catastrophic losses.

Cloud-based infrastructures are especially appealing to smaller, growth-minded carriers, according to Infinity Research report.

A new analysis from Aon Hewitt, the National Business Group on Health and The Futures Company sheds light on perspectives, behaviors and attitudes toward health and wellness.

The platform, unveiled through MetLife’s Sino US MetLife Insurance Company Limited division, lets customers compare products, get quotes, purchase and more from any mobile or desktop device.

Life insurance and annuity Web sites fall short in offering customers opportunities on their Web sites.

Digitally committed carriers expect twice as much premium growth as their more cautious peers, according to Accenture.

MetLife Chief Executive Officer Steven Kandarian has lobbied to avoid the extra oversight and called regulatory uncertainty the primary challenge to meeting profit targets.

Judge Gary R. Brown, who discussed the discrepancy between reports for the home in a Nov. 7 ruling, said he feared the practice was “widespread” and ordered that all reports be disclosed to policyholders.

Significant challenges stand between current lead-referral business models and potential role as value-added deal closers, according to Celent report.

Technology research and advisory firm TechNavio estimates the current global Insurance BPO market at more than $4.6 billion.

Pre-retirees are concerned about expenses spinning out of control; many fear they can never retire, according to survey by Nationwide.

INN celebrated its Women in Insurance Leadership award winners at a celebration in Chicago on October 20 and 21.

The lion’s share of big data spending currently is going to hardware and professional services, but over time, software vendors will capture a proportionally larger piece.

The accusation came in a case before a federal magistrate judge in Central Islip, New York, who said earlier the practice “may be widespread.”

Smartphone applications and devices that record trip and vehicle data are set to infiltrate auto insurance at a rapid pace, bolstered by discounts of as much as 30 percent.

Consumer operated and oriented plans have given some commercial carriers a run for their money in parts of the HIX marketplace, but are running into some of the same systemic obstacles that have dogged for-profit plans.