Digital Platforms

In response to a changing market, European insurers continue to adjust product offerings, adapt reinsurance purchasing and alter their distribution channel strategies, according to recent reports.

A prospective deal is expected to include about $5 billion in insurance assets.

Part of the reform measures place limits on the cost of force-placed flood insurance bought by banks.

CoreLogic report finds the number of acres and buildings damaged by wildfires is increasing, even as the total number of fires declines.

Transparency could have many effects, including competitive intelligence and, as a result, aggressive pricing.

With less than three months until 2014 and Congress’ hands full elsewhere, insurers, particularly workers’ comp and commercial casualty insurers, should be devising plans to handle added terrorism risk exposure.

New platform to be implemented for medical malpractice policy administration, rating, quoting, underwriting and policy lifecycle management.

Incorrect information from the Centers for Medicare and Medicaid Services led to the decision, insurer said.

McKinsey’s prediction that the local independent agencies are declining glosses over important distinctions between business models and value propositions, says agency association’s CEO.

During the quarter ended September 30, insurance underwriters announced or completed 20 deals, vs. 35 in the year-ago quarter with no single transaction exceeding $1 billion, according to SNL Financial data.

The services and solution are intended to automate and streamline the insurer’s administrative processes on New York’s exchange.

New version of Financial Crime Risk Management platform is designed to support automated generation of suspicious activity reports.

Third-quarter net income decreased to $232.4 million, or 39 cents a share, from $277 million, or 46 cents, a year earlier.

Underwriters continue to view merger objection claims and regulatory investigations as top concerns.

An influx of alternative capital is driving down property rates, according to Willis Group Holdings; many commercial casualty lines of business likely to experience rate increases.

We live our lives immersed in technology, and over time, we’ve come to think that anyone can do this sort of thing. But IT is hard.

Late next year, the International Association of Insurance Supervisors will implement capital rules for the insurers deemed systemically important, currently including MetLife, Prudential, Axa, AIG and Allianz.

New policy administration system deployed for initial two lines, whole and term life, in a multi-phase process.

Wolters Kluwer’s annual list of compliance issues for both P&C and life/health insurers highlight the difficulty of keeping up with regulatory changes for claims, underwriting and distribution processes.

Insurers are receiving files from the exchanges that they are unable to open, or that are missing too much data to process.

Some medium-sized, publicly-traded insurers are encountering operational challenges and could be sold, restructured or placed into run off, according to MarketScout.

After four years at sub-book value, underwriting fundamentals have improved and support higher valuations, Conning said. However, a return to higher historical valuations remains unlikely.

Auto and homeowners premiums primary drivers, according to MarketScout analysis.

With a newly launched platform, sales representatives are able to adopt social-selling techniques, ultimately focusing more on sales productivity and less on compliance requirements.

Program for complex health care claims designed to unite underwriting capabilities with preferred medical professionals and health care advisors.

New division aims to alleviate growing environmental and climate risks through an increased focus on analytics and data science.

Most states have four or more participating plans, according to Avalere Health.

Willis Re gives the storm a 26-percent chance of becoming a hurricane by the time it hits land Saturday night or Sunday morning.

Thirteen consecutive quarters of growth for the P&C sector marks the longest continuous stretch in nearly a decade.

The federally run exchange received 4.7 million unique visits in its first 24 hours, the U.S. Department of Health and Human Services said. A federal call center received more than 190,000 calls as well.

Document and workflow management, as well as analytics and integration capabilities, are increasingly important in new, Web-based claims systems, according to a recent Novarica report.

In New York, officials said the exchange had 2.5 million visitors in the first half hour and California reported seeing as many as 10,000 hits a second.

Biggest benefits from technologies include the use of automation and operational metrics, according to a new survey of chief claims officers by Towers Watson.

Most midsize commercial insurers rank regulatory compliance as a top-three strategic priority for their companies, according to a new survey.

In wake of the confusion among homeowners policyholders after Sandy, Benjamin Lawsky, superintendent of New York’s Department of Financial Services, calls for more simplicity, standardization from insurers.

J.D. Power and Associates’ study finds renters underserved and ranks homeowners and renters insurers based on customer satisfaction; American Family top among renters and Amica Mutual among homeowners.

One quarter of survey respondents said they considered switching auto insurance providers in the past year; Esurance had the most customers in that category, USAA the fewest.

BI and data warehouse software designed to enable better business decisions by making more data available.

Insurer seeks to improve its abilities to rollout standard ISO-based lines of business as well as customize specialty lines configuration tools.

New insurance product is designed to cover costs incurred to manage a business crisis, including the fees of a crisis management consulting firm.

Many executives do, however, see exchanges either as a necessary change or an opportunity for growth.

According to Fitch Ratings, the company’s U.S. life insurance subsidiaries currently maintain capital levels in excess of regulatory minimums.

U.K. P&C insurer seeks to achieve better visibility into claims operations and improve analytics and reporting capabilities.

After the October 1 launch, how long will it take to get the program's IT systems adjusted and running smoothly?

The insurer said it is looking to improve in many areas, including claims processes, customer experience and compliance.

Members of the CIO panel at this year's PCI Information Technology Conference offered creative solutions to help IT units become enablers of growth.

Insurer invests in disaster recovery support for its data center services.

Preconditions do not yet exist, according to Celent report, including regulatory structure and customer demand.

MetLife’s share of the private auto market has changed little since 2008, according to data from the National Association of Insurance Commissioners.

Bryan Sartin, VP of investigative response for Verizon Business, made it his goal to try to convince insurers that preventing cybersecurity isn’t as complex as it’s perceived to be. Presenting on Tuesday at the PCI Technology Conference in San Antonio, Sartin said “There are certainly sophisticated threats out there, but I want to poke at the myth of unpredictability and constant change and the perception of hopelessness; I want that perception debunked as just having a lack of information about the threats. Understanding the motives that drive your adversaries and the data you have, it gives you a good starting point for anticipating the types of threats you have, and therefore, the types of security measures you should have. We can do a lot of things to better understand the state of risks out there.”

BillingCenter purchased by the mutual insurer to manage agency, direct bill operations.

BillingCenter purchased by the mutual insurer to manage agency, direct bill operations.