Digital Platforms

Insurance Networking News and Celent released INN’s sixth annual technology solution provider ranking for the insurance industry last night at an awards event held at the ACORD LOMA Insurance Systems Forum in Orlando.

System includes pre-loaded business rules engine and builds on CSC’s claims and risk management expertise.

Collaboration will progress with a proof of concept describing areas where ACORD data standards may map to XBRL insurance solvency and other business information taxonomies.

About 68 percent of European life insurers polled in a new survey have a positive outlook for their businesses in spite of ongoing market turbulence.

Company also releases actuarial calculation engine to reduce launch time for new products.

Association to roll out knowledge base and enhance social media capabilities on Website.

All three implementations will be deployed via private cloud.

These statistics surrounding disability insurance and public awareness from Sun Life’s recent report, titled “Will workers in America hope to dodge the bullet, remain blind to the risks or simply hide?” despite becoming familiar sights this month, remain startling given another fact cited by the report: Medical problems contribute to roughly half of all personal bankruptcies and home foreclosures in the United States.

The growth of countries such as China, Brazil and India will inevitably lead to more business being written, and that will need new capital to support it, and more insurers, according to Lloyd’s of London Chairman John Nelson. “The challenge we have is to grow the Lloyd’s footprint into the emerging growth countries,” he said in a statement on the company’s website. “There’s an opportunity for Lloyd’s and for the United States, in the high-growth economies. What I hope to see is a situation where brokers are extending their networks, picking up new business across the world and placing it at Lloyd’s.”

Using the platform, the insurer was able to add new features such as an urgent care finder and information access for non-members.

With Don Desiderato's exit, the research and advisory firm pulls Transamerica’s chief architect to fill the gap.

Insurer looks to Accenture Claim Components software to improve customer service and align with previous policy administration and billing purchases from Duck Creek.

EMC, Employers Holdings, Jackson National Life Insurance, Nationwide and Presidential Life Corporation release their first-quarter figures.

New portal developed by Hanover Insurance Group provides sales agents and customer service representatives with constant connectivity to the enterprise.

Advocacy group presents New York City as the new hotbed for tech startups and IT careers.

With upgrades, a specialty writer aims for improved speed-to-market and process consistency across lines of business.

Two new studies show that the embrace of existing technologies, such as telematics, could soon have a dramatic effect on the insurance industry.

Latest version aims to improve functionality and flexibility of comprehensive risk management and compliance software.

“Although prices are higher, coverage remains affordable and available on a global scale,” said Bob Hartwig, president of the Insurance Information Institute. “It is a steady and stable environment that includes some risk sensitive increases.”

Berkshire Hathaway cracks top 10 for second year in a row; 14 insurers land in the top 100.

As another deadline approaches for the National Flood Insurance Program, advocacy groups are taking to Capitol Hill this week as Democrats and Republicans attempt to put together an amicable long-term extension before May 31.

Insurance Networking News is proud to present its INN Newscast. This special video edition brings you exclusive coverage from day one of the 2012 ACORD LOMA Insurance Systems Forum in Orlando.

Insurance Networking News is proud to present its INN Newscast. This special video edition brings you exclusive coverage from day one of the 2012 ACORD LOMA Insurance Systems Forum in Orlando.

Risk Radar 2012 designed to provide management and operational staff with real-time visibility into project risks.

New York appeals court calls a lower court "premature" for holding Greenberg and former AIG CFO Howard Smith liable, sets the stage for a trial.

Most workers know little about group disability insurance, but when given information about income protection, the majority say they would opt for the coverage, according to a new study.

Life insurance CIOs need to stay on top of technology trends, initiatives and challenges in the industry. Recently, LOMA asked five CIOs to discuss these, and the group turned the focus to communication and the pervasiveness of IT within companies.

Americans are concerned health care costs not covered by insurance will negatively affect their retirement plans.

Because they underwrite policies differently, perpetual insurers will be analyzed differently than traditional insurers, according A.M Best. The firm’s methodology change, detailed in its “Analyzing Perpetual Insurers” criteria report is not expected to affect ratings and is reflected in the most recent version of “Best’s Credit Rating Methodology (BCRM).”

Underwriting efficiency and accuracy are the goals behind Valen's InsureRight.

While maturity of big data implementations was key to returns, Nucleus Research's review of 58 case studies found an average ROI of 241 percent.

Compared to a year ago, the composite rate for commercial property/casualty and professional lines coverage increased 3 percent in April 2012, according to new research from MarketScout, an insurance distribution and underwriting company.

Progressive Casualty Insurance Company is suing State Farm Mutual Automobile Insurance Company for allegedly infringing on patents related to vehicle monitoring systems and variable insurance rates.

The number of IT jobs in the finance and insurance industry has dropped 0.34 percent, according to a new study.

Horizon BCBSNJ’s facility opens in the summer. The retail center will be staffed by specially-trained personnel to help customers with their health insurance needs, direct them to resources for maintaining a healthy lifestyle and assist them in purchasing health insurance products and services.

Company headquarters in Madison, Wis., endures all but two of the layoffs, which are effective immediately.

A number of insurers, including AIG, The Hartford, Prudential, have released financial results for Q1 2012

InsuranceSuite to support entire range of general insurance business processes, expand service offerings for Guidewire's first Japanese customer.

DocuSign boasts several life, P&C clients, points to straight-through processing as motivation for e-signature purchases.

In the month of April, severe weather in the central and southern sections of the United States caused $1 billion in insured losses, according to the “Global Catastrophe Recap” report, published by Impact Forecasting LLC, the catastrophe model development center of Aon Benfield. Economic losses were even higher.

Insurance bundle to help commercial solar developers mitigate risks, support project financing.

The seventh annual INN's Women in Insurance Leadership program profiles women insurance professionals whose leadership and performance has redefined their business and its application of technology.

NFIP reforms sought, but likely to be punted again as competing agendas stall legislation.

CEF growth continues, albeit at a slower pace, despite dwindling refinancing opportunities.

The study reported that the trend of mergers and acquisitions among MPL insurers continued in 2011 with Medical Protective acquiring Princeton Insurance from Medical Liability Mutual Insurance Co and Doctors Company Insurance Group acquiring FPIC Insurance Group while the NORCAL Group purchased Medicus Insurance Holdings Inc.

Application chosen as OneBeacon attempts to improve underwriting profitability, scale the business and achieve high service levels with agents.

Parity to protect organizations from potential losses due to negligent technology professionals.

About 85 percent of asset management firms and insurers have seen increased brand awareness on social media platforms, 67 percent have seen increased engagement with clients and prospects and 58 percent say social media has led to increased website traffic.

New regulations would close medical mills, end payments when no medical treatment is provided and speed claims resolutions.

Using SpeedBuilder Systems' BindExpress Policy Suite, Fremont adds its eighth commercial line in under two years.

Based on noncompliance with the Medical Loss Ratio provision of the Affordable Care Act, insurers will pay out rebates to 3.4 million people.

Insurers turn to their peers and attend industry meetings to conduct due diligence about potential business partners, according to study.