Digital Platforms

Analytics teams must be based in business and ready for “chaos” as an agile response to the ongoing shift in sources and certainty of business data, according to International Institute for Analytics faculty member Mike Lampa.

National Life Group has selected iGO e-App to automate the marketing, selling and processing of its diversified life and annuity products.

The directors and officers (D&O) liability insurance marketplace is in a state of transition, characterized by a firming market, according to the “2012 Directors and Officers Liability Survey,” conducted by professional services company Towers Watson.

Cyber coverage levels also increased according to the report. Across industries, limits purchased in 2012 averaged $16.8 million, a 20-percent increase over 2011. Communication, media and technology companies led other industries in terms of average limits purchased, at $33.4 million, and the rate of increase, which was nearly 36 percent.

With persistently low interest rates continuing to dampen profitability, group life/annuity/voluntary benefit insurers are investing in benefit and policy administration systems, customer and agent portals, and easy enrollment capabilities to increase profits, according to “Business and Technology Trends: Group Life/Annuities/Voluntary Benefits,” a report from Novarica.

Armed with analytics, insurers should be able to make better business decisions more quickly and mobilize teams to connect better with customers, leading to success and growth, according to PwC.

U.S. life insurers underperformed most industries after taking risks that should have been left to Wall Street banks, McKinsey & Co. said in a report today.

Peak Reinsurance Co., a reinsurer focusing primarily on the Asia-Pacific market, has selected a catastrophe modeling solution from AIR Worldwide to manage its catastrophe risk.

Munich Re, the world’s biggest reinsurer, said profit this year will be about 3 billion euros ($3.9 billion), little changed from 2012, as prices remain stable and lower interest rates weigh on investment income.

Life policy administration solution designed to support underwriting, policy administration and payouts.

With just weeks before launch, MetLife Spain had to completely rethink its stalled customer document creation project.

Partnership intended to simplify the BPM and CRM provider’s encryption approach.

Net income for P&C insurers increased almost 50 percent in 2012 compared to the year prior, driven by higher earned premiums and slightly-lower, but still high, catastrophe losses, according to a special comment from Moody’s Investor Service. For most insurers, investment income increased modestly and reserve releases were down.

After years of market contraction, all P&C insurance premium lines grew, and agencies and brokers could capture a substantial piece of the market going forward, according to market share study.

For the fourth time, and across every line of business, commercial insurance prices rose in aggregate by almost 7 percent during the fourth quarter of 2012. That was the eighth-consecutive quarter of price increases, according to the latest “Commercial Lines Insurance Pricing Survey (CLIPS)” from Towers Watson.

While IT job growth has slowed a bit, a management consulting firm sees greater demand for mid-level managers and technologists.

Twelve-percent individual life premium growth in the fourth quarter contributed to a 6-percent rise in annualized premium growth in 2012.

However, report says P&C carriers better equipped than others; PCI discounts findings.

Largest annuity insurers also listed, which finds Prudential doubling the direct premiums of the next-closest insurer.

While connectivity improves, conflicting financial priorities and rekeying data is still a problem for many insurers and agents, SMA finds.

The National Association for Insurance Commissioners ranks the sector’s largest insurers and reveals their market shares by line of business.

Claim Components software bought in an effort to enable real-time analytics and improve service for agents, customers.

Ebix to provide SaaS-based policy administration system for front- and back-end processes.

Despite billions spent on marketing, the majority of consumers don't have a retirement savings and income plan.

Commissioned by The Hartford Steam Boiler Inspection and Insurance Co., Ponemon Institute’s survey results show many small businesses have had a data breach, almost all involving electronic records.

Technology alone doesn't deliver insights, but being able to answer four basic questions surrounding your data flow does.

A number of answers received in response to a blog posted a couple weeks ago have kept us thinking.

The insurer signs on for another three years with Merkle.

The goal of the partnership is to provide a file exchange between GEMS Economic Scenario Generator, MG-ALFA actuarial software.

Activist regulators, increased CAT losses pose larger risks, companies must adapt, A.M. Best says.

Vodafone and Towers Watson are launching the telematics/usage-based insurance offerings for motor insurance companies operating outside of North America.

Personal and commercial P&C rates increase 3 and 4 percent, respectively, for the month of February.

ARC Logics upgrade includes the NAIC-proposed requirements, which are set to take effect on Jan. 1, 2015.

Critical illness insurance covers more diseases than in the past and is increasingly marketed as a financial protection product.

With the growth of the insurance-linked securities market comes benefits and “healthy competition” for reinsurers.

For the second year, Berkshire Hathaway is the only insurer to make it into the top 50, but Fortune’s full list of the World’s Most Admired Companies includes 19 insurers.

Liberty Mutual, State Farm and four others announce quarterly and year-end results.

The Federal Housing Finance Agency is being asked to answer several questions regarding its decision to reject Fannie Mae's recent force-placed insurance proposal.

Building IT/business alignment into business operations and a sense of urgency are two keys to success, according to panelists at Celent’s recent Innovation & Insight Day in Boston. Making legacy systems a thing of the past also helps.

Capgemini report finds internet/mobile channels have great potential to make customers happier, which may come at the expense of agents.

Hurricane losses could average $10 billion every four years.

Generation Y consumers present a unique and fast-moving target for insurers; catching them may require real-time insights and even faster, more agile systems.

Temkin Group, a customer experience research and consulting firm, asked 10,000 U.S. consumers to rate their customer experiences on a scale of 1-to-7, in terms of being functional, accessible and emotional. Temkin limited the analysis to 246 companies, each of which included responses from 100 or more consumers. USAA was the top-ranked P&C insurer, and TriCare was the top-ranked health plan.

Celent recognizes the technology initiatives of 15 insurers and names XL Group the Model Insurer of the Year.

2014 could be one of the largest open enrollments in history.

Allianz Global Corporate & Specialty CEO Axel Theis sees “significant” growth fueled by Brazil’s expanding infrastructure spending.

Insurer to integrate InsureRight 2.0 analytics solution into underwriting practices.

CEO Robert Benmosche says the insurer will put a concerted effort toward re-establishing AIG throughout the world with its life-insurance product.

Weak economic growth, an extended period of low interest rates, weak investment income and rising regulatory demands continue to challenge the industry.

A review of losses tied to weather-related catastrophes reveals that climate-change models are but one of a growing number of complexities affecting all stakeholders.

If you’re only watching social media chatter, there are big customer support and marketing opportunities passing your business by.

Insurers rank location-based services as most important on their list of needs.