Digital Platforms

Property/casualty CEO in Americas was joined by the president of the Latin American and Caribbean P&C division, the President of Lexington Insurance and one other in his departure for Berkshire Hathaway.

Survey finds chief investment officers more optimistic and aggressive; interest rates supersede the European debt crisis as their primary macroeconomic concern.

The average year-over-year increase in insurers’ 2013 IT budgets was 6.3 percent; policy admin, underwriting and two other areas consume just over half of total new project resources, according to a recent survey of 24 CIOs.

The proportion of life insurers now offering e-signatures in their dealings with customers or agents has increased to 74 percent from 47 percent over the past five years, according to “Have E-Signatures Finally Arrived? An Update for Life Insurers,” from Celent, a research and advisory firm.

Industry sees improvement in pre- and after-tax income, underwriting results and combined ratio in 2012, but the improvements pale in comparison with long-term norms.

Of those currently using smartphones to make payments, 60 percent said they would increase their usage if they could track receipts, manage personal finances (56 percent), or show proof of insurance (56 percent) or a valid driver’s license (54 percent).

Survey reveals an awareness of the gap in coverage among U.S. homeowners, even as annual flood-damage costs continue to soar.

Growing staffs and catastrophe claims are not the main reasons costs are rising. Instead, severity is canceling out the efficiencies technology is creating, according to an analyst at this week's CEB TowerGroup Financial Services Technology Conference.

The Director of the Federal Insurance Office, Michael McRaith, is calling for the submission of information regarding natural catastrophes and insurance for a report to be submitted to Congress, an FIO report mandated by the Biggert-Waters Flood Insurance Reform Act of 2012.

First-quarter earnings excluding one-time items were $2.94 a share, 56 cents higher than the average of 19 analysts’ estimates compiled by Bloomberg. Full-year profit is now forecast to be at least $7.80 a share, the Indianapolis-based health plan today said in a statement.

Mobile platform developed as a companion to Web-based risk software released by the insurer last year.

Adventist Risk Management looks to improve operational efficiencies, customer experience through the purchase.

At RIMS, intellectual, intangible and other non-standard property coverage are top of mind.

New report from International Data Corp. tracks software sales and outlines the shift toward social business and customer experience.

Service to address uncertainty in real-time data reporting by incorporating catastrophe-loss scenarios.

New analytics-based software designed to weigh factors of individual companies, such as location of operations and cost-severity factors, against historical data.

U.S. consumers are turning to digital sources for insurance quotes and other information, but still prefer personal contact with agents when purchasing.

Honoree awarded for leading networking and social initiatives, will receive $1,000 scholarship.

New York and New Jersey accounted for more than half the claims in the wake of the superstorm; nearly all have been settled.

Many compliance executives working in the U.S. insurance space admit to a lack of consistent structure, lack of institutionalized processes for sharing regulatory information and disjointed use of technology.

As part of the additions made, travel risk coverage has been expanded to the renewable energy industry.

While risk managers are increasingly prepared for a variety of risks, gaps exist between process and action, according to a Towers Watson survey.

Claims for business interruption will probably drive insurance costs tied to the bombings, according to catastrophe modeler Risk Management Solutions Inc.

Satisfaction with the auto claims experience declined in early 2013, as claimants noted an increase in repair costs, according to the J.D. Power and Associates “2013 Auto Claims Satisfaction Study—Wave 2.”

Despite growth trajectory, stifled investment yields persist beyond expectations.

A new survey finds that an overwhelming majority of consumers would not sign up for health coverage to avoid the penalty; report examines the potential consequences non-buyers would pose the system.

Robust claims management and business continuity plans are crucial to success, as is understanding the requirements likely to be placed on mutual by reinsurers.

U.S. property rates down slightly, 2- to 4-percent increase the norm across most major U.S. lines.

Slightly more than half of respondents account for risk in their current compensation arrangements, according to a new Towers Watson survey, which is making some execs unhappy.

Amsterdam-based parent company offering of 64.2 million shares likely to be the second-largest IPO in the United States this year.

Industry experts discuss how Monday's events have shaken sports industry underwriters.

Health plan provider looks to build custom application's using the mobile and multi-channel platform provider's KonyOne Platform.

SAS Risk Management for Insurance brought in by insurers to support Solvency II compliance.

A new report from Fitch finds property/casualty insurers taking advantage of the low-interest rate environment; replacing higher-coupon debt at lower interest costs.

Vendor launches browser-based Policy Administrator; Missouri Professionals Mutual signs on as first client.

Aetna, Cigna and Humana among the first to offer benefits through Mercer's Marketplace.

Reinsurers are concerned about portfolios and access to growth as commercial buyers reduce their usage.

Many health insurance executives predict that five years from now, health exchanges will be “nothing more than a high-risk pool,” and some say they will even be non-existent, according to a recent survey.

Additions to Technology Advantage designed to help agents navigate interfaces and technology companies protect against risk.

Affiliate of AmeriHealth Casualty Services purchases CompSuite in an attempt to modernize its workers’ compensation environment.

A growing number of senior business leaders in a new Gartner survey anticipate Chief Digital Officer or Chief Data Officer roles by 2014.

PwC study also finds that small- to mid-sized carriers account for 75 percent of projects; custom development trend reversing for top-tier carriers.

With fewer than half of the 50 U.S. states participating, spending is expected to double initial estimates.

Based on sustained pricing increases and a normal level of catastrophe losses, the P&C industry is experiencing a return to profitability, strong net-premium growth and a substantially improved combined ratio for 2013, according Conning’s “Property-Casualty Forecast & Analysis by Line of Insurance.” The quarterly forecast and report is developed by Conning using a proprietary property/casualty industry model and analysis of key industry drivers and data.

The insurer will use the platform to process Covered California Exchange enrollment and billing, and meet the demands of new members.

Survey of executives finds many carriers hindered by inflexible legacy systems that limit access to data and analytical tools.

President Obama proposes a decrease of crop insurance subsidies and cutting out all direct payments to farmers in his latest budget. The administration is estimating the move would save $37.8 billion over 10 years.

Casualty to increase the most, followed by property and non-CAT risk programs.

Mobile platform designed to provide web payment functionality and electronic document management services.

Rebranding effort takes effect as company expects to gross proceeds around $600 million through public offering.

Managing general agency turns to EagleEye in an attempt to gain visibility of its critical business performance.

Configurable app blocks network connectivity; separate “What If Calculator” demonstrates the impact of tickets, accidents, moving and changing vehicles on insurance rates.