Digital Platforms

Insurers are shifting their outsourcing dollars to adding new capabilities and infrastructure, and away from application development and maintenance.

The investment bank, which specializes in the financial services sector, finds varying results for the life and P&C sectors.

LOGiQ³ Receives Letters of Intent From Four Carriers

CEO says there’s less business going into the reinsurance market, and there’s more appetite from both traditional players and newcomers.

‘Millennial Meterologists’ to highlight how Big Data is transformed into actionable solutions.

Obamacare has always depended, both operationally and politically, on an alliance between the administration and insurance companies. But that alliance is vulnerable.

Net income rose to $988 million, or $2.70 a share, from $304 million, or 78 cents, a year earlier.

Tropics completes conversion, implementation of policy, billing and claims software.

Committee on Oversight & Government Reform Chairman Rep. says we “must assume that website is still vulnerable and Americans may have [personally identifiable information] hacked and taken.”

Skewed HIX Enrollment: 2 Big Challenges for Health Insurers

Novel and more accessible forms of information from government and private sources represent a new and rapidly growing piece of the big-data puzzle.

A safe new-year prediction is that we shall see more insurers getting into trouble, paying the price for over-expansion.

While only three insurers make the list, their ranks improve from last year.

CANATICS Selects BAE Systems Detica

Nearly all insurers also expect Congress will reauthorize the Terrorism Risk Insurance Act, according to I.I.I. survey, which revealed deeply divided economic outlooks.

UnitedHealth Group Inc., the biggest U.S. health insurer, said earnings rose 15 percent, boosted by growth in its Optum technology business as well as enrollment gains.

Many will stop selling universal life with secondary guarantees and half expect to make major design and pricing changes; CFOs to make only moderate changes to staffing levels despite lack of in-house talent.

Insurer selects DataHub and InfoCenter to help increase responsiveness to customers, business partners.

Four industry standouts landed in the top 10 of FlexJobs’ Top 100 Companies for work-from-home opportunities/telecommuting jobs in 2013.

Through its acquisition of Nest, Google soon will have access to even more personal data, positioning it to potentially enter the homeowners’ insurance market.

In newly created position, Denise Garth will be responsible for launching the firm’s innovation practice.

Business interruption and natural catastrophes pose the biggest threats, according to the Allianz Risk Barometer; for the first time, cybercrime and reputational loss enter the top 10 risks in United States.

The patient-mix is important to health insurers that would have to decide by the end of May whether to keep selling exchange plans in 2015.

Insurer launches AIG Financial Network financial services group and revamps its process for new advisors to include best-in-class systems for testing and training, as well as onboarding securities-licensed financial advisors.

Through a a one-year contract, with an initial payment of $45 million, Accenture will take over construction of healthcare.gov.

Health insurers are in a tough place; asking the administration for a break is almost begging members of both parties to beat the snot out of them, but unless the administration bails them out they look set to lose quite a bit of money next year.

As global chief risk officer, J. Todd Daniels will be responsible for risk management for investments in both the United States and Japan.

In a recovering economy and armed with strong capital positions, life insurers and annuity providers should take the opportunity to become more customer centric through technology innovation, industry experts say.

While affirming its 2014 profit forecast, insurer said it was evaluating expectations for the new year.

5 Areas of Increasing IT Investment

ING U.S. Inc. promotes CRO Smith to CEO of the insurance unit as Butch Britton retires.

In a stabilizing economy and armed with strong capital positions, P&C insurers should increase their focus on establishing competitive advantage through innovation, according to Deloitte.

RSA Ireland CFO Rory O’Connor and Claims Director Peter Burke were dismissed yesterday, the London-based insurer said in a statement today.

More than $1 billion will be invested in the IBM Watson Group, including $100 million in venture funding for businesses that develop applications based on the technology

The best insurers will achieve competitive advantage by developing the judgment and decision-making capabilities of their knowledge workers.

Exigen's suite of core systems is intended to improve operational efficiency, product distribution management and customer service.

Despite higher administrative costs and uncertainty associated with HIX rollouts, A.M. Best forecasts top-line growth of as much as 5 percent.

A challenging operating environment, higher consumer expectations and tougher competition are rousing insurance IT outsourcing, according to Everest research.

Insurance AO Activity Doubles

In 2012, the overall market declined however, as did contract values and duration, according to an Everest Group report.

Insured losses declined to about $31 billion, the Munich-based company said today. That compares with $65 billion reported for 2012.

‘Front Office Suite’ to help underwriting, service and agent teams to submit, evaluate, quote and close business.

"Uncertainty" sums up the regulatory environment for insurers in all lines in 2014.

Lori Evangel, formerly of Aflac, will serve as executive VP and chief risk officer.

Based on 2012 financials, A.M. Best lists the largest global insurers by earned premium and total assets.

The increase for 2014 is expected to be driven in part by a rise in data analytics investments, according to the research firm

In response to consumer confusion about deadlines related to the Affordable Care Act, insurer says it will extend the deadline and accept payment online.

Homeowner property claims also are found to be increasing in frequency, value and suspicion.

Swiss Re declined as much as 2.9 percent; Munich Re fell 0.8 percent.

Insurers strongly support flood reform, but it needs to be implemented in a fashion that doesn’t destroy flood-affected communities.

RIMS Names 2014 President, Directors and Board Members

Rates Decrease as Much as 25%