Digital Platforms

More than one-third (36 percent) of 18-to-29-year olds reported one or more traffic tickets in the past five years, the highest percentage of any age group surveyed, according to a survey from InsuranceQuotes.com.

In testimony, PCI points to studies indicating credit-based insurance scores are highly predictive and result in lower rates for more drivers.

Two-year modernization initiative will overhaul all Gerber Life's lines of business.

A new report from Celent outlines the process of going from a big data spectator to becoming a practitioner and more.

Of those insurers participating in the survey, most (57 percent) said UBI is predominantly a rating accuracy play, which SMA acknowledged as a logical assumption, as the auto insurance value proposition is primarily about price. However, 43 percent said UBI’s value is in reducing loss costs by improving driver behavior and increasing retention (43 percent). Attracting new customers and claims control followed distantly, with 14 percent each.

The insurer will use the Insurance Scorecard platform to consolidate its multiple data sources for meaningful and actionable analysis.

After another year of meager growth, a new report from Gartner posits that this year businesses are primed for spikes in analytic adoption rates.

What do you get when you mix trillions of dollars in assets and a quasi-ignorant understanding of finance? Enter the Generation X and Generation Y consumers.

Arch Re, CNA, Main Street America, Marsh & McLennan, MetLife, Nationwide and Willis announce fourth-quarter and 2012 financials this week.

The Committee urges the Federal Insurance Office to submit its long overdue reports, including those on the insurance industry in general and recommendations to modernize and improve the U.S. regulation.

A new report contends that insurers that commit to analyzing data from social media will be able to better establish an ROI.

Trade agreements could enhance regulatory cooperation and efficiency, promote competition, and prevent regulatory gaps and overlaps.

Calls for improved information sharing and a set of standards should alleviate insurers' concerns with cybersecurity—but it also puts some pressure on insurers to update themselves along with the standards.

NILS INsource and NILS INcompass products designed to help monitor, implement regulatory changes.

The record-high interest in hiring from the middle of last year is continuing to grow, as 56.2 percent of insurers are planning to increase staff over the next 12 months, according to the latest “Insurance Labor Market Study” conducted by Jacobson Group, an insurance staffing company, and Ward Group, and insurance consultancy.

Market positioning cited as primary reason for IT budget growth; 10 percent of insurers will reduce IT budgets by 10 percent this year, SMA finds.

Legal Solutions Suite purchased in an attempt to simplify billing and expense tracking, monitor outside counsel performance.

Anticipating a more customer-centric strategy, insurers will look to new data sources and analytical techniques to sharpen risk understanding and customer profiling, according to a new report.

Purchase highlights recent reports indicating life insurers are outspending P&C insurers when it comes to online/mobile quoting systems.

California leads states in QCs; suspicious loss of jewelry increased 86 percent.

The Federal Housing Finance Agency, acting as regulatory overseer to Fannie Mae and Freddie Mac, will further review the force-placed market and its costs.

Underwriting loss increased by $26 billion, net income fell $10 billion, but the commercial P&C sector can expect 2013 to be better financially.

As a combined average, 42.3 percent of Europeans switching auto or household insurers, or buying for the first time, did so online last year, according to “Aggregation Metrics: Consumer Approaches to Insurance Comparison Sites in Europe,” a research paper from Finaccord. This up from 35.4 percent in 2008, making online aggregators and online comparison sites the fastest-growing distribution channel.

The P&C sector leads insurers in mobile offerings, investments; however, life/annuity insurers are investing more in quote and buy capabilities.

Patent provides a method for managing the policies and security of portable devices that store data through a third-party cloud service.

A new report shows mid-size and large P&C and life/annuity insurers are supporting or planning to support bring-your-own-device, especially for tablets.

See which insurers Superstorm Sandy hit the hardest, as Allstate, Prudential and four others release fourth-quarter and year-end results.

Data experts challenge the basic framework for big data programs.

Insurers can expect winter storm loss damages to return to normal after this weekend.

Analysis from HealthPocket Inc., a health insurance information site for consumers, shows that health insurers have some work to do in the areas of out-of-pocket expenses and transparency. The analysis indicates that 38 percent of plans did not disclose their deductible within its annual out-of-pocket limits, concealing the full amount a person could pay if the “Summary of Benefits” was not read carefully. Once these deductibles are factored in, many plans are not compliant with the Affordable Care Act (ACA).

FFVA Mutual Insurance buys into Valen's predictive analytics suite in an attempt to bolster its underwriting performance.

Recent survey reveals cyber risks to be the biggest business concern; insurer develops mobile app in response.

A.M. Best says outlook stable for personal and reinsurance, commercial lines’ negative.

Insurers reluctant to engage catastrophe-prone property and workers' comp business in Q4 2012.

Eleven life insurers, including AXA Equitable, USAA and Metlife, were recognized for their efforts and successes with their online tools and/or website features.

Eleven P&C insurers, including Allstate, Liberty Mutual and State Farm, were recognized for their efforts and successes with their online tools and/or website features.

Survey of life insurance CFOs finds few satisfied with speed, reliability; run-time requirements are highest priority.

iWorks Prophet purchased in an effort to centralize and standardize actuarial practices across business lines.

New York Life, State Farm among those honored; see companies broken down by percentage of women holding executive responsibilities.

On a composite basis, U.S. commercial lines were up 5 percent and personal lines rates increased 4 percent as compared to the same time period a year earlier, according to MarketScout’s rate index for January 2013.

Based on data compiled between 2008 and 2012, the National Insurance Crime Bureau breaks down the models and states most prone to theft.

Insurer plans to use eRiskHub's cyber risk resource portal to evaluate data security risks.

Leadership inexperience cited as a main reason for the poor results.

PCI lists 21 states discussing legislation that would allow drivers to use electronic insurance IDs on smart devices.

The IT job market added 73,500 new jobs in January, according to BLS data from Janco. Even with the unemployment rate rising to 7.9 percent, the number of new jobs for IT professionals is now at levels high enough for IT mid-level manager and developers to say IT is in full recovery mode, according to analysis from Janco Associates.

New LIMRA survey finds employment-based pension plan options declining while opportunities abound for financial services industry.

One of the largest insurance agencies in Wisconsin grows with the acquisition of Burkart-Heisdorf.

Metlife, Allstate and GEICO received the best scores for Facebook, Twitter and YouTube, respectively.

New product releases from IBM and EMC attempt to deliver on the promise of big data security.

In midst of purchase, CEO shares company goal of generating at least 20 percent of operating earnings from emerging markets by 2016.

New John Hancock research indicates that lower price options increase purchase interest in long-term care (LTC) insurance among 45-65 year olds, especially at younger ages.

Net income for the quarter dropped nearly $200 million despite a rise in enrollment.