Digital Platforms

Farm Bureau Life Insurance of Michigan is indicating annual savings of $230,000 and full ROI from a claims upgrade implemented less than a year ago. More than a quarter of Farm Bureau’s savings comes from paperless solutions, including eliminating the printing of around 65,000 faxes in the first six months.

“The Hartford Benefits For Tomorrow Study” found that 87 percent of single Americans don’t have enough savings to get through a financial hardship and of that group only 44 percent have insurance to help them, which means 56 percent do not have coverage.

14 insurers, including State Farm, The Hartford and 21st Century, named in Temkin’s 2012 trust ratings.

The Hartford and Liberty Mutual garner top rankings; study concludes that while there are fewer shoppers overall, they are more likely to shop online and switch auto insurance carriers, and self-service can tip the balance.

The 2012 Lockton Market Update predicts that CFOs and risk managers are going to face a difficult pricing environment in coming months as prices for many risks are flat and commercial insurance buyers are battling rising prices and pressure to improve underwriting.

In addition to offering paid internships to business and technology students, Cigna established an innovation lab on campus last year.

Aflac, MetLife, WellPoint and five others announce first-quarter financial results.

The Independent Insurance Agents & Brokers of America presented a number of awards yesterday at the organization's annual conference, including the Woodworth Memorial Award.

Westfield looks to shore up claims systems in support of commercial business growth.

Participant and Policy Owner Portal System to support Lincoln’s executive benefits division.

The Hartford strikes deal with Forethought for annuity business capabilities and will continue selling annuity products during transition period.

Asia/Pacific region spearheads global market growth; Symantec retains its global industry lead.

With higher medical inflation predicted, insurers will need to adapt to changes and address new risks, according to recent Conning research.

Separate studies from Northwestern Mutual and LIMRA find that Americans can’t afford to live, but can’t afford to die, insurers can take action by educating the public about the importance of financial protection and taking personal financial responsibility.

IIABA-backed bill aims to make it easier for agents to apply for licenses across state borders.

Solution integrates predictive analytics, business rules and link analysis in an attempt to increase efficiency.

4Sight business intelligence product designed to enable users to create reports using ad-hoc reporting tools.

Coalition raises awareness by gathering research and members, lobbies for no-fault reform.

Investment in CRM software experienced a year-over-year increase of 13.5 percent in 2011.

Solution from Cass Information Systems is expected to refine the carrier's BYOD processes and work with all smartphones and coverage plans.

Zurich Insurance Company Ltd. has purchased Procurian's Specialized Procurement Infrastructure, a global Source-to-Pay solution, and Genpact’s Smart Enterprise Processes framework.

In a special report, A.M. Best Co. concluded that the sharp decline in income and consequent drop in regulatory capital reported by some Canadian companies was a result of mark-to-market accounting already in place rather than conversion to Canadian International Financial Reporting Standards (IFRS-C).

MetLife Inc. has reached a multi-state settlement with the National Association of Insurance Commissioners (NAIC) related the company's use of the Social Security Death Master File, which MetLife selectively used for proof of death and to end annuity payments, but not to initiate payment of life insurance claims.

Data is seamlessly integrated into Liberty Mutual Group Benefits’ tracking and reporting tools.

Despite $110 billion in industry losses due to catastrophes, global reinsurers have responded without any significant dislocation or squeeze on capacity, according to “Reinsurers Resilient Against Waves Of Catastrophes, Economic Uncertainty,” a report by A.M. Best Co.

A number of insurers have released financial results for Q1 2012. UnitedHealth, Travelers, RLI, Meadowbrook, Platinum and Cincinnati Insurance post decent results despite disasters.

According to a Towers Watson study, effective companies follow formal processes and have dedicated change management staff.

As BYOD and mobile devices become more prevalent in enterprise operations, limitations emerge.

Latest Android app enables drivers to digitally videotape their driving experience, recording accident evidence in the process.

Group of U.K. cyber insurers developing a framework of recommended information security practices and policies.

A full quarter of working-age adults experienced a health insurance coverage gap in 2011, mainly because they lost or changed their jobs, according to a think-tank.

Survey conducted by the Society of Actuaries reveals the top five risks among chief risk officers.

ClaimsVISION to enable efficient, single platform for all claims.

Overall customer satisfaction declined 13 points to 842 during the first quarter of 2012, according to J.D. Power study.

Deal includes upgrades surrounding policy, billing, claims, imaging and reinsurance processing.

Award qualifications based on written premiums, cumulative loss ratio and premium retention.

Payer/provider interoperability, health insurance exchanges among top 10 issues on The Managed Care Executive Group’s radar for 2012.

Business disruptions, volatile commodity prices and an unstable global economy end business as usual.

After last year's string of catastrophes, risk modeling software provider places more emphasis on supply chain risk quantification.

Despite massive catastrophe losses, insurers meet obligations and have surpluses to cover new claims.

Organic growth behind carriers’ desire for technologies that facilitate customer requests and consolidate multiple document systems.

Distracted driver disconnect ongoing as more teens believe they could get into an accident when drinking and driving versus texting and driving, notes State Farm survey.

Towers Watson’s “2012 Risk and Finance Manager Survey” found that 95 percent of insurance buyers had some concern over the hardening of the P&C market, which is a result catastrophic losses in 2011 and an upgrade in the catastrophe risk model to RMS 11.

Upgrades and additional functionality implemented to help business customers more efficiently analyze loss trends.

The “Aon Risk Maturity Index” identifies trends in the overall risk maturity of organizations based in different parts of the world.

Oracle seeking roughly $1 billion in damages; Google and Oracle CEOs expected to be among first witnesses.

State Farm, Progressive and Allstate noted for successful Facebook presences in a recent report breaking down the industry’s take on social media.

The stress of filing income taxes may make U.S. motorists more prone to fatal motor vehicle accidents today say Canadian researchers.

a study by Willis Group Holdings reported that among primary umbrella casualty lines more than 75 percent of insured clients are seeing modest rate increases on renewal, driven by gradual increases in revenues and rating exposures.

Participants in national online pilot learn skills to help manage conditions and interact with others living with chronic illness.

USAA files suit against Mitek for alleged misappropriation of USAA's proprietary information, breach of contract and fraud; Mitek responds with a countersuit for alleged patent infringement and breach of contract relating to its technology.

Stable-value products are in demand among retirement-focused workers, according to New York Life's data.