Digital Platforms

Smaller U.S. insurers with overseas parent companies are unlikely to be targeted by FSOC; American Council of Life Insurers defends foreign nonbank financial companies.

Kansas-based agency aims to increase operational efficiency with a unified software platform across all locations.

Certus' construction, property/casualty examiners will handle legal, coverage matters for the insurer's construction defect claims.

PCI applauds the passing of "No Play, No Pay" and Workers’ Comp Reform in Missouri; new legislation also permits electronic proof of insurance for consumers.

Moore, Okla., suffered $1.4 billion in damages from a 1999 tornado; experts predict yesterday’s EF-4 will result in similar figures.

Although risk management is important among companies concerned with regulatory pressure, few maintain a clearly defined risk appetite and reward adherence to it.

Research from Conning attributes improvement to increasing premiums and reduction in incurred losses.

New broad coverage designed to include access to risk control, claims and specialty investigations support.

Mortgage insurers are gaining attention after operating income doubled in the first quarter of 2013 while loan delinquencies continued to decline.

Now in its eighth year, INN's Women in Insurance Leadership program has detailed the extraordinary efforts of more than 60 professionals whose leadership has set the standard for the application of technology in the insurance business.

Early reports indicate that State Farm has received more than 3,500 home and auto claims as of this morning, less than 48 hours since a series of tornadoes that tore through Granbury, Texas, and the surrounding area, causing at least six deaths and injuring more than 100 more.

Sensing an opportunity among small commercial buyers, ACE Commercial Risk Services created a simpler international travel package policy and a Web-based platform to support it.

Electronic ticket designed to simplify application process, accelerate product sales.

Personal automobile and bodily injury are the most common policy and loss types among questionable claims, according to the National Insurance Crime Bureau.

S&P cites the firm’s practice of holding less capital to back insurance operations than competitors as a factor in the downgrade.

As the debate over the renewal of the Terrorist Risk Insurance Act (TRIA) heats up in the United States, Aon Risk Solutions released its 10th annual Terrorism and Political Violence Map in an attempt to help companies assess risk levels of political violence and terrorism.

Distribution, BI, agent portal and policy administration top life insurers' list of priorities as they look to differentiate themselves in an increasingly commoditized market.

There are four significant and costly life events that cost the average worker $117,000, according to a survey conducted by Ameriprise.

A committee of 11 insurer CIOs has selected nominees for the second-annual Novarica Research Council Impact Awards. Nominees include: AIG, Aegis, Erie Family Life, Great American, Nevada General, PURE, RLI and XL.

A survey of 1,000 drivers indicates they want more severe coverage penalties for phone use while driving.

Illustrations Suite, iGO e-App designed to modernize how agents market, sell and process products.

Insurance IT experts discuss the technology challenges insurers are facing, social business is demystified and several insurers make analytics, mobile moves.

The rating agency forecasts a calendar year combined ratio of 99.5 percent for 2013, which would make it the fourth year in the last 35 in which the market achieved an underwriting profit.

A new report from Saugatuck outlines the challenges BI has faced, and where BI operations are likely to settle within enterprises.

Gartner’s Harris-Ferrante, Celent’s Johnston and Novarica’s Josefowicz discussed and debated the changing insurance landscape, and suggested strategies and tactics for insurers.

Yesterday the Consumer Federation of America (CFA) released a statement that suggested a renewal of the Terrorism Risk Insurance Act (TRIA) may not be necessary given the near-record industry surplus of nearly $600 billion. Today, the Insurance Information Institute responded by emphasizing the stability TRIA continues to provide.

IBM says software should enable the insurer to turn social media into an actionable communications channel.

High losses come despite a dramatic decrease in the number of tornadoes last month.

Berkshire Hathaway was listed fifth overall on the 2013 Fortune 500; Berkshire was the top-listed insurer out of the 36 that appeared overall. 11 insurers were landed in the top 100. In 2012, 14 insurers were in the top 100 and 46 were listed among the Fortune 500.

Ninety-eight percent of insurer respondents indicated that they have a woman serving in an executive position within their company, according the new “Women in Insurance Leadership Insight Report.” Yet, there is only one woman CEO at either a Fortune 500 or 1000 insurance company.

Reinsurance administration system to replace the insurer's current legacy system.

Insurer will customize and brand the mobile app while integrating it with their core back-end systems using existing Web services.

Personal lines also sees small increase; commercial property and workers’ compensation lines edged up to 6% increases.

INN developed the ranking in partnership with Celent, an independent business research and advisory service with a specialization in insurance technology. Celent facilitated survey development, data collection and analysis. The result is an insightful set of rankings based on objective peer review.

Eighty-three percent of P&C insurers indicate that they will increase their spending over the next three years. The top three areas for investments in analytics, according to SMA’s data, “remain the risk-centric areas” of product development, underwriting and claims.

New partnership enables 161,000 service members to earn nationally recognized certifications across a dozen tech professions.

State Farm is beginning to test RightLane, which collects basic information about a person's driving via an Android smartphone.

As national unemployment improved to 7.5 percent last month, growth of IT jobs has fallen from a peak of 11,700 jobs added in January to only 4,600 added in April, according to this month’s IT jobs report from Janco Associates.

Direct-to-consumer auto insurer implementing underwriting and policy administration software first with renewal processing, then with new business.

Directors & officers liability insurance (D&O) and professional liability business is generating accident year underwriting losses for the industry despite recent stability in loss ratios, according to a new segment analysis from Fitch. D&O premium rates were previously lagging the market recovery in the broader commercial lines segment, but pricing trends are now catching up.

Sandy resulted in approximately 1.5 million claims overall, 92 percent of which were completed at four months.

Investment income dropped to $4.16 billion from $7.11 billion the previous year earlier.

The chairman of Berkshire Hathaway says he wants to get into commercial insurance — "big time."

New data from Novarica’s most recent IT roundtable finds that while P&C insurers are focusing on data capabilities, speed to market is a particular point of emphasis for life/health insurers.

Allstate, The Hanover, Travelers and five others announce quarterly results.

The tech provider will distribute PilotFish software with and without LifeSuite bundle.

While 98 percent of recently surveyed insurers plan to increase their social media use in 2013, none of the respondents said their social tools are “excellent.”

Veterans of the AIG bailout are now helping ING U.S. prepare for the scheduled sale of as much as $1.54 billion in stock.

2013 Terrorism Risk Insurance Report outlines current marketplace as well as potential effects of letting the coverage expire.

New version includes portfolio management capabilities and transactional model deployment for risk selection and pricing accuracy.

J.D. Power ranks top 24 insurers based on purchasing experiences, satisfaction; survey also finds that when consumers do shop for insurance, almost half switch insurers.

This formerly discounted, underinsured and underpenetrated generation now presents a larger sales opportunity than boomers.