Digital Platforms

Study shows a mix of company support, like-minded culture keep life producers happy, productive.

Because of a previous deal made with AIG, the NY Fed will receive $9 billion from an Alico sale.

As the number of life insurance agents shrinks, experts say finding alternative distribution channels is the key to boosting sales.

IVANS survey says the soft market is a catalyst for insurers’ increasing investment to streamline workflow.

Purported $14 billion acquisition of AIG’s Alico would boost presence in Asia.

The industry considers salivating over the huge China market, but it does so at the expense of our security.

Due to banks' sales success, life insurers are designing simpler products for bank reps to sell.

The solution provider targets insurance company executives, underwriters, business analysts, product managers and IT professionals with its 10-minute online video.

BlueCross and BlueShield of Tennessee has announced the theft of identifiable data that affects an estimated 500,000 members.

Given the severity of the economic downturn, the U.S. property/casualty insurance industry has performed remarkably well in recent years, a group of industry experts observed in a panel discussion.

The ambiguity surrounding the Obama Administration's proposed Financial Crisis Responsibility Fee is causing insurers consternation.

A study released this week by security firm Symantec found that mid-sized enterprises are more likely to adopt cutting-edge technologies.

Cadillac Tax, insurance, health insurance, labor unions, organized labor, excise tax

Looking to recoup taxpayer money used to bailout financial institutions, the Obama administration is proposing a “responsibility fee” on large financial institutions, possibly including insurers. Levied on the debts of financial firms with over $50 billion in consolidated assets, the fee is intended to deter financial companies from overleveraging themselves.

Health insurer Harvard Pilgrim Health Care Inc. will develop a pilot of the Food and Drug Administration's Sentinel System to better monitor the safety of regulated medical products. The one-year contract with four renewable years is worth a total of $72 million.

Health insurer Harvard Pilgrim Health Care Inc. will develop a pilot of the Food and Drug Administration's Sentinel System to better monitor the safety of regulated medical products. The one-year contract with four renewable years is worth a total of $72 million.

It’s no secret that the world’s problems in health, education and unemployment can largely be traced to the global fiscal crisis.

In a new user survey, a majority of respondents expect business intelligence (BI) to continuously grow worldwide, though most remain unsure about the value of analyzing data from social media sites. The global survey was conducted by Baseline Consulting and Kognitio, a provider of BI and data warehousing solutions.

Forrester Research recently predicted the technology sector is will see a recovery in 2010. The same could hold true for the property/casualty insurance industry. According to a survey conducted by the Insurance Information Institute (I.I.I.) at its 13th annual Property/Casualty Insurance Joint Industry Forum, 77% of executives in the property/casualty industry expect financial troubles to diminish in 2010.

Microsoft and HP today announced a $250 million technology development partnership and a series of software/hardware/service rollouts that HP CEO Mark Hurd called "the deepest level of collaboration and integration" in his company's history.

Though relatively unfazed by the financial crisis, a continuing soft market will present problems for property/casualty insurers, a new report finds.

After declining 8.2% in 2009, Forrester predicts IT spending in the U.S. will grow a healthy 6.6% in 2010 to $568 billion. Global IT spending, which fell 8.9% in 2009, is expected to rise even further, by 8.1% in 2010 to more than $1.6 billion.

Small insurers are seizing the chance to address consumers’ unmet needs, giving the market segment a sizable share of the overall property/casualty market and strong positions in some specific market niches, according to a new study by Hartford, Conn.-based Conning Research & Consulting.

The ongoing impact of the financial crisis, coupled with the specter of greater governmental oversight, will color the outlook for the life insurance industry in the year ahead, according to New York-based Ernst & Young’s Global Insurance Center 2010 U.S. Outlook.

Business analytics software as a service is expected to grow three times as fast as the total business analytics software market in the 5-year period between 2008 and 2013, according a new study from market researcher IDC.

A.M. Best, Fitch Ratings, Moody’s Investors Service and Standard & Poor's announced ratings updates. The following are some of the most recent:

The latest finger-pointing between American International Group and the rest of the financial world took a turn on Saturday, when AIG’s former chief executive, Maurice "Hank" Greenberg, drew a direct reference to Goldman Sachs’ role in the insurers’ ultimate downfall.

As many variable annuity providers simplify and streamline their products, Axa Equitable Life Insurance Co. in New York is bundling theirs.

Even to those tasked with understanding it, the insurance industry can seem opaque. After in-depth interviews with 43 financial analysts who cover the insurance sector, New York-based PricewaterhouseCoopers finds a widespread dissatisfaction with the current insurance financial reporting framework.

Dice.com, a career Web site for technology professionals and employers, issued its employment report for January 2010. As of Jan. 4, 2010, there were 48,751 jobs available in technology. Of those, 28,142 were full-time, 23,590 were contract, and 1,074 were part-time positions.

Hotels and retailers top Forrester Research’s latest customer experience ranking, Customer Experience Index (CxPi). Insurers, though, rank among the bottom four industries on the list.

WL Ross & Co. (WLR&C) has reportedly ended negotiations with American International Group, New York, to buy its mortgage insurance division, United Guaranty, Greensboro, N.C., according to industry sources.

Fond du Lac, Wis.-based Society Insurance, a provider of commercial insurance to Wisconsin, Illinois, Iowa and Indiana, implemented Denver-based Valen Technologies Inc.’s UnderRight predictive analytics underwriting solution to improve its pricing strategies and profitability. Society is now using UnderRight for its workers’ compensation line of business to positively impact the company’s combined ratio by enabling improved underwriting decision consistency and efficiency.

Genpact Ltd. has been awarded a 3-year contract from Max New York Life Insurance Company Ltd. Under this arrangement, Genpact will provide Max New York Life with customer service related solutions in select geographies, employing multiple regional languages and sophisticated technology.

The insurance industry is offering praise for retiring Senate Banking Committee Chairman Christopher Dodd (D – Conn.), who announced last week he would not seek reelection next year.

Global wealth management technology spending by banks, brokerages and insurance companies is set to reach $3.7 billion by the end of 2010, up 5% from 2009, according to a report released January 7 by Boston-based research firm Celent.

As legislators work to craft a final health care reform bill, insurers are seeking to stop inclusion of a provision that would eliminate industry antitrust exemptions created by the McCarran-Ferguson Act.

Sircon, a wholly owned subsidiary of Vertafore Inc., took to the road the past 14 months to facilitate discussions between Sircon and representatives from a number of insurance companies. Stopping in cities such as New York, Atlanta, Los Angeles, Dallas, Chicago and Philadelphia, Sircon’s insurance-industry solutions team provided attendees with insights into upcoming product developments, industry trends and challenges, and provided hands-on training and question-and-answer sessions on pressing topics.

As Senate Majority Leader Harry Reid (D.-Nev.) and Speaker of the House Nancy Pelosi (D.-Calif.) look to blend their versions of health care reform, the National Association of Insurance Commissioners (NAIC) is offering input.

The good news is there are signs of economic improvement. The bad news is A.M. Best is maintaining its negative rating outlook on the life/health industry.

With 2009 reviews and prognostications thankfully behind us, it's time to get our feet back on the ground and get back to listening to our readers.

An Aberdeen Group study of data management for business intelligence finds a wide gap between best in class companies and the industry average, especially in the areas of data cleansing, search query optimization and master data management (MDM).

Trust representing homeowners asks for compensation for damages due to mold exposure.

Gov. Patterson announces his intention to revive a state-based reinsurance network.

Study predicts insurers will look to trim costs from distribution channels in year ahead.

Harvard Pilgrim Health Care, Aetna and WellPoint are the first of a handful of insurers expected to certify for compliance with the initiative in Q1 2010.

Latest online poll reveals a shift in traditional—if not stereotyped—thinking.

Association commends retiring chairman’s leadership on insurance-related issues.

Conning Research says ongoing economic ramifications may have profound impact on property/casualty sector’s operating results.

S&P withdraws its A+ FSR of Nationwide Life Insurance Co. of America and Nationwide Life & Annuity Co. of America, and Moody's assigns ratings to the multi-issuer, multi-seniority shelf registration of The Travelers Cos. Inc.

The reorganization merges subsidiaries, reducing from five to three the insurer's primary life operating units.

The Property Casualty Insurers Association of America seeks no-fault reform in New York, market-based solutions in coastal states and the preservation of credit scoring, among others, in the coming year.