Digital Platforms

Ensuring a high renewal rate is seen as top priority in preparing for the long-sought hardened market.

The United Educators Insurance president and CEO receives the award for her commitment to education and support of the missions of The Griffith Foundation and the Property Casualty Insurers Association of America.

Moratorium established ahead of second storm expected to hit New York on Wednesday.

U.S. adds 6,600 IT jobs; August report revised with better numbers as well.

AIG, Berkshire Hathaway and 6 others released their third-quarter results.

Varied estimates shouldn’t pose much of a threat to reinsurers who have enjoyed a relatively catastrophe-free 2012 thus far.

Young drivers see particularly sharp cuts as prices take the biggest hit in more than 5 years.

The property/casualty industry has historically been regulated at the state level, but insurers have a lot on the line in the Presidential election next week.

Research from Aberdeen Group is starting to indicate exceptional growth trends among early big data adopters.

ClaimCenter designed to support The Guarantee Company’s goal of increasing effectiveness, efficiency of claims management operations.

Analysts rank “pricing strategy” and “quality of service” as the industry’s top value drivers over the next three years, named by 95 percent and 94 percent of the respondents, respectively, ahead of “data analysis capabilities” (86 percent).

CEO Liam McGee is working to free up capital and reduce risk as stock market volatility remains a threat.

The Insured Retirement Institute (IRI) released new research indicating that during the past year, nearly 30 percent of baby boomers stopped contributing to a retirement plan, and 16 percent prematurely withdrew funds from a retirement plan. The recession and slow recovery are pointed to as the primary barrier preventing baby boomers from adequately saving for retirement.

Project managers need to remember that moving to a paperless environment is about changing how people work, how they rely on information and how they access it.

The governors of the three states hit hardest by Sandy have declared that homeowners in their states will not have to pay hurricane deductibles on insurance claims stemming from damage caused by the storm.

The clock is ticking, and insured losses are rising, as crews take to the most heavily hit regions to assess infrastructure damage and reconnect power to millions.

Attendees were immediately challenged at LIMRA's annual conference with a question: Is the industry headed toward the abyss?

Funding for IT projects to help insurers become more customer-centric is largely unavailable.

AIR Worldwide, catastrophe modeling firm, estimates that insured losses from Sandy to onshore U.S. properties will be between $7 billion and $15 billion.

Software to boost multichannel marketing and spur customer segmentation.

It’s no surprise that insurers are using social media to help define, build and integrate their brands against the myriad platforms available to them, and some are clearly farther along the path than others. This was made evident yesterday at LIMRA’s 2012 annual conference in Chicago, where MassMutual shared with attendees nuances of its sophisticated and successful social media plan.

Initial economic damage estimated at $10 billion, or comparable to Hurricane Irene.

INN will continually update this page with coverage of Superstorm Sandy and its impact on the insurance industry.

Auto-Owners, Amica and Erie Insurance lead the pack in overall satisfaction, according to J.D. Power study. Fairness, ability to manage expectations and communicating the progress of a claim most important.

Analysts speculate the storm’s lasting impact on the industry, national economy.

Novarica Research Council Impact Award Nominee of the Day: Allstate Financial enabled producers and customers to legally bind an electronic signature to a life insurance application via the internet.

National Hurricane Center’s latest advisory indicates Hurricane Sandy will strike close to midnight; CoreLogic lists the 25 NYC area zip codes at risk of the most property damage.

CNA, Everest RE and others released their third-quarter results.

Insurance proves to be the worst-performing industry in several markets today as Hurricane Sandy damages loom.

Sun Life Financial Inc., Canada’s third-largest insurer, is seeking a buyer for a U.S. annuities business that may fetch more than $1 billion, said people with knowledge of the matter.

While still waiting for the storm's highest point of impact, insurers announce assistance information.

Novarica Research Council Impact Award Nominee of the Day: Through a pair of CSR-focused projects, PEMCO Mutual Insurance Company created a customer-centric perspective that has led to better customer service and improved sales opportunities.

Contractor plans to use CSC software to enhance communication between parties, as well as rate and identify vendors based on performance.

Howard Mills, director and chief advisor of Deloitte’s insurance industry group and former New York State Insurance Superintendent estimates potential losses at a billion dollars, or more.

Early estimates range from $1-$5 billion in damages along the U.S. east coast from what is being dubbed a "Frankenstorm."

Novarica Research Council Impact Award Nominee of the Day: Capitol Insurance Companies enabled 24-hour access to business tools for agents and consolidated its surety business in the process.

Newest version of the study includes predictive modeling analysis, spans five-year period from 2006 to 2010.

Category two hurricane is expected to stalk the east coast, 250 miles offshore.

Novarica Research Council Impact Award Nominee of the Day: Zurich North America worked with program administrators to eliminate rekeying of data and other labor-intensive steps in the process.

Large IT efforts often cost much more than planned; some can put the whole organization in jeopardy. The companies that defy these odds are the ones that master key dimensions that align IT and business value.

Big data leads the way as IT spending is expected to reach $3.7 trillion in 2013.

In an effort to improve system stability and availability, Allstate Financial ran a root-cause analysis of production issues, which determined that many were due to application integration issues across the enterprise. In response, Allstate established E-Test, an enterprisewide test environment comprised of key administration systems, data stores and applications.

Insurer seeks improvements in operational intelligence as well as regulatory reporting with latest purchase.

Provider's BI and policy admin products designed to increase insurer's operating efficiency and leverage information assets.

A new survey of mostly insurance and IT executives also finds them looking for business cases to justify big data expenditures.

Novarica Research Council Impact Award Nominee of the Day: Quote-to-bound business triples as the workers’ compensation insurer takes pre-deployment problems into their own hands.

Particularly for P&C insurers, the drive for growth and competitive advantage through data continues to dictate IT budget increases.

Insurers adapt to low interest rate environment by adjusting product offerings to manage impact on profitability.

Industry’s net income nearly triples and combined ratio improves almost 10 points compared to 2011 figures.

Through a five-year project, the insurer improved efficiency by 25 percent and achieved a straight-through processing percentage of 75 percent for BOP accounts.

While the majority of insurers plan to be ready by the proposed 2015 deadline, many still have to address their IT practices.

Novarica Research Council Impact Award Nominee of the Day: Oregon Mutual Insurance’s tablet-based interactive reports leverage the value of marketing information and quantify field information for increased productivity and retention.