Digital Platforms

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.

PCI commends Attorney General Schneiderman as insurers have been able to pay Sandy claims within an average of 20 days.

Insurer working with Command Investigations, which will provide SIU, anti-fraud services and investigative services.

Increases pushed by above-average losses, diminished investment returns and receding reserve releases, Marsh says.

Company execs discuss the declining hardware market and PaaS offerings currently in beta testing.

IIABNY also recognizes three other insurers with annual awards.

Although the industry sectors share challenges, including the continuing weak global recovery, Moody's says life insurers will be the most impacted by a slow growth environment, given that their products are often discretionary purchases. Low interest rates will also weigh on life insurers' margins.

Personal and commercial P&C insurers say data capture and transformation into useful information has become a critical differentiator of performance within the marketplace, according to a new survey.

Novarica survey identifies longer-term threats and opportunities for both P&C and life/annuity insurers.

Insurer's field staff will receive tablets preloaded with RC Inspection in attempt to improve field data collection.

A month after the vote was delayed by Congress, and three months after the storm, President Obama is expected to sign Sandy relief package.

More than half admit to not being familiar with LTCI products; just 5 percent own LTCI.

New flood maps and building codes are expected in less than two years.

Customer analytics is presented as the driving force behind big data success in new survey results.

PDSpectrum purchased to provide policy processing and management for NFMRA.

Former director of IBM's Information Governance consulting practice uses Progressive as an example when discussing the emerging need for big data governance.

HealthPocket analysis finds Montana tops list of states, John Alden tops list of companies for rejection rates.

Head of the agriculture unit at Munich Re cites drought as the biggest cause of losses in 2012.

Vehicle repair times and satisfaction with the repair process both decline.

After President Obama reintroduced Richard Cordray as the long-term head of the Consumer Finance Protection Bureau yesterday, many were still calling for restructuring.

App will soon be available on both iOS and Android platforms.

A new report from Forrester provides an overview of mobile capabilities in insurance, including an array of potential functionalities and customer interest.

In a new report, Gartner outlines three trends pushing more enterprises toward cloud-based security.