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Blue Cross Blue Shield of Michigan launched a program advocating extensive use of information technology to document and coordinate care across all providers and settings.

Standard & Poor's Ratings Services has rated Genworth Financial’s main lifestyle protection insurance entities A-.

Much like the insurance industry, bank CIOs are gaining more authority when it comes to managing and enhancing their company's technology.

Insurance advisors, agents, brokers and benefit specialists unify voices to caution against bypassing proper deliberation and debate.

News of the approval was met with mixed results from the insurer community.

The company says by transferring its AUI Holdings company into a special-purpose vehicle, it will be able to sell a minority stake.

Insurance IT vendors should readjust their approach to selling solutions in a way that better meets the needs of their customers.

In a recession, many will see outsourcing of functions as exporting of jobs.

Two weeks after Genworth was denied the ability to participate in the Tarp program, The Phoenix Cos. was thwarted in its attempt to receive bailout funds.

A new report from Hiscox finds that 38% of Fortune 500 companies fail to acknowledge data breaches as a risk, and 49% disregard the impact it can have on their reputation.

Economic slowdown and regulatory changes ranked as the leading challenges facing insurers.

A report by Lockton says premiums should rise in the coming months due to underwriting performance deterioration.

A survey by Aberdeen Group finds that 93% of companies queried have consistent policies in place for supported application software/licenses at the endpoints.

Despite being hailed by many as a cure-all solution for insurers, cloud computing needs to be carefully examined before implementation.

Citing discussions regarding “several issues,” AIG reports that it is rescheduling its annual meeting and release of its annual proxy statement.

Calling it a “global phenomenon,” Conning points to life industry, non-U.S. markets as those most affected by the decline in transaction value.

In its $7.4B bid for Sun Microsystems, Oracle plans to “redefine the industry.”

Industry veteran Gregory Raines will be responsible the firm's securities operations, including practice management, recruiting, rep relations and risk management.

Insurance technology vendors should heed these tips when working with the analyst community.

Former AIG Insurance Services Inc. president Anthony Galioto will become president, CEO and director of York Insurance Services Group, effective April 20, 2009.

New integrated product offering underwritten by Zurich North America takes features historically found only in large corporate programs and brings them to the middle market.

Fitch assigns Lincoln National Corp. a negative outlook, and Moody’s warns of further possible downgrades.

While Europe's Basel II regulations are still just for banks, insurers should take note and begin to prepare, as many of the changes may likely come to affect them in the near future.

Prudential Retirement is the first insurer to offer a product that combines target-date funds with annuities.

The Los Angeles-based multiple line insurer will broaden its personal lines, geographic scope with the $1.9B deal.

In a Benchmark Survey conducted by the Professional Insurance Agents Association, agency principals rated “adjust claims fairly” and “pays claims promptly” as the two top factors when evaluating an insurer.

The technology du jour may run into problems as insurers try to figure out just what it is.

Tests from the Insurance Institute for Highway Safety dictate that very small cars generally can't protect people in crashes as well as bigger, heavier models.

Banking Committee likely to move left to bolster voter support.

Net income of $232.5 million in Q109 compares with $239.4 million in the same period in 2008.

When developing a multichannel distribution strategy, focusing on agent commission, lead generation distribution and communication can help prevent an agent revolt.

American Freedom, MEMIC Indemnity, American Independent Network Insurance of New York, Central States Indemnity of Omaha, West Bend Mutual, Lyndon Property Insurance and Columbia Insurance Group see ratings changes from A.M. Best.

Ernst & Young estimates the global Takaful market could expand to $7.7 billion by the end of 2012.

The CORE initiative seeks to build industry consensus on the tightening of the HIPAA standards to streamline health care financial/administrative transactions.

The life insurer’s chairman, president and CEO says the company is confident that its has the financial strength to continue to succeed now, and over the long-term.

A new report from Guy Carpenter & Co. finds the consensus estimate for total cat bond issuance activity in 2009 stands at $3 billion, dependent on market conditions.

Service-oriented architectures, much like the setup of a mutual insurance company, should be owned by the entire organization, with every department playing its part.

Vulnerability of U.S. infrastructure could mean disaster.

The insurer's shares dropped in trading Monday following last week's announcement that it won't be allowed to receive Tarp funds after failing to meet a deadline to become a bank holding company.

Despite economic turmoil, rating agencies issue stable outlook for insurers, citing an expectation of good earnings this year.

Company says legislation an improvement on past optional federal charter proposals.

With Satyam, Tech Mahindra will become the fourth-largest IT firm in India.

Pointing to economic-driven necessities, the insurer has gone into production with SAP ERP financials, claims next.

A new survey from Aon Consulting reveals that nearly 60% of employers surveyed expect their overall health care costs to rise because of the COBRA subsidy.

Solution provider’s risk modeling and analytic services helped rating agencies and bond investors price, model risk profiles.

The largest workers’ compensation insurer in the state of New Mexico, New Mexico Mutual, reports that it has successfully deployed a billing software system from Guidewire Software, a provider of solutions to property and casualty and workers’ compensation insurers. The insurer, which replaced its legacy system, is now in production with Guidewire BillingCenter as its new billing system, and will use the system to manage the end-to-end billing process including payments, collection agency management and agent commissioning.Using BillingCenter, New Mexico Mutual plans to: * Automate its billing lifecycle while incorporating desired best business practices; * Readily implement system changes in-house without vendor involvement; * Access payment information in real-time for enhanced customer service; * Better manage agent commissions; and * Proactively manage its collection agency interactions. Guidewire BillingCenter is a 100% Web-based comprehensive billing system designed to: make it easier for insurers to manage agent commissions; automate the billing lifecycle; design flexible billing, payment and delinquency plans; and enable rapid integration with external payment systems – i.e. EFT, EBPP, check writing, payroll deduction, etc. BillingCenter is available as a standalone system or as part of the Guidewire Insurance Suite and can be integrated to an insurer’s existing systems or third party applications.

When economic times are a difficult, insurers are challenged with lowering costs and finding creative ways to reduce expenses. KnowledgePay Inc., a company that provides solutions that integrate all sources of compensation and job data with analytic tools to drive HR productivity and business results, offers a checklist of tips for decision-makers on managing compensation, available at http://www.knowledgepay.com/10tips1.html. An organization's compensation philosophy is integral to its culture, say experts at KnowledgePay, which advises insurers and other companies to remain consistent with their company’s core values, mission and vision, even when difficult decisions are necessary. Companies that have always linked performance pay, for instance, should not change course and implement pay freezes, reductions or even layoffs based on unrelated factors, says the company.Another tip from KnowledgePay is to manage compensation by facts, rather than fall prey to knee-jerk reactions. Managers with the discipline to rely on solid compensation data, rather than emotion or headlines, have the best chance of achieving positive, long-term business results. Organizations should also regard the current crisis as an opportunity to review their overall rewards plan, to ensure it encourages behaviors that lead to company success. Management should focus on what is most important for their business to achieve, use their rewards plan to encourage those achievements and try to eliminate unintended consequences. Corporate compensation practices receive intense scrutiny these days, especially with the amount of pay information available online and increased career mobility among workers. Staying focused on future successes won't make today's difficult decisions any easier, but it can improve those decisions - consistent with company culture, based on facts, and focused on improving business results. "No one knows how soon the economy will turn around," said Kelley. "In the meantime, HR and compensation professionals will keep trying to turn lemons into lemonade. 'Ten Tips for Tough Times' is designed to help."1. Keep your compensation philosophy aligned with your mission - vision - values • Your compensation philosophy is integral to your company's culture. It tells your employees "the way we do things" and reflects the core beliefs of senior management. Stay consistent with those values, even when you must make difficult decisions. If not, you risk affecting employee engagement and productivity negatively. If you have worked to link pay and performance, then it probably won't make sense to suddenly decide on pay freezes or reductions, based on factors unrelated to performance — seniority, for example, or "fairness." 2. Manage by facts • In a crisis, we are all tempted to knee-jerk reactions — decisions made without a full understanding of the context and potential impact of our actions. You can avoid both "paralysis by analysis" and overreaction by disciplining yourself to use the best data and employ or even add to your arsenal of analysis and modeling tools. You'll get the best results, if you work to understand the relationships between compensation reduction programs and your key business metrics. 3. Make lemonade • Lately, we've seen organizations announce across the board pay reductions. Certainly there must be a great deal of angst in such decisions; they weren't made lightly. But, just as a "peanut butter spread" approach to pay increases doesn't help company's performance, pay reductions won't necessarily help either. Look for ways to use pay reductions the way you use pay increases - to differentiate activities and performance in ways that will improve results. 4. Embrace change management • Organizations like yours have embraced the concepts underlying change management for almost every operational endeavor. When you make compensation decisions in a downturn, you should be sure to deploy the best change management has to offer. Start by fully identifying all key stakeholders — as in other change efforts that list will get surprisingly long. 5. Challenge assumptions • Reconsider the paradigms you have taken for granted. For example, over years of working with market pricing data, the trend has always been that pay rates rise. Sometimes quickly, sometimes slowly, but always up. Many such assumptions may no longer hold true. As Dorothy once said, "I've got a feeling we're not in Kansas any more." 6. Share information • Even in good times, communication about compensation is often overlooked. In tough times, when the conversations are difficult, there's an even greater need for open lines of communication. Craft a top-notch communications plan to go along with any new compensation program, and make sure it gets executed! It's another chance to make lemonade out of lemons. 7. Consider your overall plan • Take a long look at your rewards plans. Do they incentivize behaviors that your company needs today? Look for unintended consequences in these changed times, and work to get rid of them. Remember, whatever your company rewards, that's what will get done. Understand what your business must achieve in today's climate, and make sure your rewards plans are focused on those achievements. 8. Understand your workforce • Different employee groups will respond differently to changes in compensation programs. If you have a mature workforce with a lot of seniority, employees may prefer reductions in base pay rather than to lose their job. A younger workforce, on the other hand, may focus more on the present value of cash compensation and be less forgiving of a base pay reduction. No one-size-fits-all approach is likely to be effective. It's up to you to understand what is relevant to your workforce. 9. Take the long view whenever possible • None of us has a crystal ball. We don't know how long or severe the current economic downturn will be. But we do know that ROI on human capital is central to our companies' ability to prosper. Studies show that the short-term benefits of reducing headcount are accompanied by problems whose difficulty becomes clear when the pendulum shifts and it's time to re-staff. The cost and lost time of recruitment and training, the missing productivity, and the lost institutional knowledge can be expensive. That's why it's important to think long-term now, even as you make short-term decisions. 10. Know your market • Even a modest investment of time and resources in understanding your labor markets can pay significant dividends in this crunch time and beyond. Know what your local and industry competitors are doing with regards to their pay and staffing practices. Not so that you can follow them blindly, but because understanding your labor market enables you to act in your organization's best interest.This document and other information about strategic compensation management is available free-of-charge at www.knowledgepay.com/10tips1.html.

Carriers expanding offerings to account for rise of piracy.

The president of the National Association of Professional Insurance Agents contends that there are opportunities hidden in the challenges stemming from the current state of the economy.

The industry may still be in the black, but catastrophe and investment losses have taken a toll on the bottom line.

Insurer gets $800 million from its consumer lending division.

When insurance CIOs shrink the carbon footprint of their data centers, improve energy efficiency and promote recycling and telework, they boost the bottom line.