Digital Platforms

Accounting standard-setters issued new rules Wednesday that could have profound effects, not just on how assets and liabilities get valued but on how banks and financial services firms do business.

Guidewire, IBM, InsPro Technologies, Exigen among vendors touting new offerings and services at this week’s ACORD LOMA Systems Forum.

Customer Stream is designed to help carriers keep tabs on business partners.

New research points to financial institutions' responses to the financial crisis, regulatory changes and a desire to combat financial crime.

Duck Creek and Pitney Bowes partner on policy administration; Guidewire forges alliances.

Insurers watch as accounting standard setters prepare to issue new rules that could have profound effects on their business.

Carriers need to spend to optimize current business processes while simultaneously laying the foundation for future growth.

Only half of insurance CEOs surveyed believe their companies are adequately prepared to successfully navigate complex, uncertain business environment, an IBM study says.

A surprising reprimand of national politicians and a less surprising disregard for the industry highlighted the conference’s first day.

Insurers focused on expanding relationships with existing technology solution providers.

Fitch affirms Markel, S&P revises outlook on Mutual of Omaha and A.M. Best affirms Unitrin ratings.

The partnership grants RiskMeter users access to RMS’ Average Annual Loss and Probable Maximum Loss data.

Sen. Patrick Leahy, the No. 2 Democrat on the Agriculture Committee, was named as a conferee instead of Sen. Mark Warner.

INN’s 2010 Vanguards in Insurance Practices Awards represent true votes of confidence by insurers who rate the value provided by technology solution providers.

Bank-owned life insurance assets totaled $134.6 billion in 2009, up 0.6% from 2009, says new report.

Reform passage means a federal insurance regulator is on the horizon.

Early disclosures include only property losses, affecting earnings rather than capital; no rating changes currently expected.

The Software-as-a-Service analytics program is intended to serve the property/casualty industry.

Commercial lines market to remain stable, but concerns over natural catastrophes, and volatile political and economic environments persist, according to new report.

Industry cautiously optimistic as Senate passes financial services overhaul.

The bill must now be reconciled with the House version.

Gartner study shows the IT marketplace is still operating in a cost-optimization mode.

The successful cloture vote means senators have a maximum of 30 hours to debate the bill.

We provide insurance for those whose identities are stolen, so why not add preventive services?

What do annuity sales and base runners have in common? Both continue to slide.

IBM and Accenture are the front runners, with other major players steps behind, says new report.

For a bill that has already seen its fair share of fits and starts, regulatory reform legislation hit a wall Wednesday as it failed a key procedural vote in the Senate.

Insurers watch as the amendment could affect use credit scores for underwriting.

Agency adjusts the guidelines by which it rates both property/casualty and life insurers.

As legislators ponder lifting cap on damages resulting from oil spill, Senate Majority Leader Reid suggests abolishing it altogether.

Onus is on them to address the “elephant in the room,” manage reality-based models, and shape organizational culture in post-crisis world, says Swiss Re.

Religious funds have grown in the past decade due to a larger number, and wider range of investors, analyst says.

Life insurers are adjusting the way they calculate capital requirements a new study from New York-based Towers Watson finds. The report, Evolving Capital Management Practices, queried 30 CFOs and found they expect to make greater use of economic capital when determining capital requirements.

The amendment preserves state attorneys generals' role protecting their citizens against abusive practices.

Blue Cross Blue Shield of Kansas City’s integration of Tuo Underwriting system is part of a marketing strategy to leverage Tuo and Microsoft Dynamics.

Minneapolis-based Wolters Kluwer Financial Services reports that it will incorporate its insurance compliance information and analysis technologies with FINEOS Claims for Workers’ Compensation.

Facebook remains an intriguing channel and marketing tool for insurers, and this debate with regulators underlines just how important it could be.

Insurers must work harder to educating advisors on how their products work if they want to boost sales, LIMRA says.

S&P affirms Liberty Mutual Group Inc., A.M. Best downgrades Town and Country Mutual Insurance Co. and Moody’s upgrades Unum Group.

SMA report says agencies may open wallets to improve areas such as product development and premium volume rebounds.

After rebuilding balance sheets following a costly 2008, P&C insurers hope to not face further financial risks.

The question of how to handle security identification is a thorny one.

Insurers face an uphill battle when it comes to claims management, according to James Swayze, president and CEO of Symbility Solutions, Toronto. Swayze, who presented on the topic at the 2010 PLRB Claims Conference last week in San Antonio, presented results of a JD Power & Associates study that revealed 46% decline in client satisfaction scores for property claims between 2004 and 2008, and a rising claims process cycle time that averages 18.6 days to close.

A new Moody's report says favorable economic and capital market trends signal stability.

Ventana research finds 41% of respondents have a strong desire to improve BI and performance management in the areas of operations, finance and customer management.

A coalition of industry associations is working to scuttle an amendment to financial reform legislation that would strip health insurers of anti-trust protections currently enjoyed under the auspices of the McCarran-Ferguson Act.

To alleviate apparent confusion over storm surge and flooding predictions that were in conflict with the reality of events when a hurricane made landfall, the Saffir-Simpson Hurricane Wind Scale was updated by the National Weather Services’ National Hurricane Center, which is part of the National Oceanic and Atmospheric Administration.

Insurer looks to bring investment capabilities of Sun Life’s Boston-based asset management arm to Canadian retail investors.

Alterra Capital Holdings sees favorable ratings following merger, Farmers Union Mutual Insurance Co. and First Chicago Insurance Co. downgraded.

In testimony on Capitol Hill, industry says the use of credit scores vital for underwriting.

A survey conducted by Munich Re America that targeted insurance executives to determine their most pressing concerns revealed what most in the industry know: the economy still presents a challenge, but less so than last year.

SAP's pending acquisition of Sybase is designed to offer improvements in transactional and analytic applications as well as enhanced mobility, messaging interoperability and content delivery.