Digital Platforms

Despite the rough outlook for 2009, industry experts predict IT spending will remain stable, and not reflect the "Dot-com bust" of 2001-2003.

Leading Insurance Services Inc. will change from a stand-alone data capture mechanism to an integrated solution.

The Hartford hopes the cash infusion into a troubled Florida thrift will buy time in hopes the Treasury Department will allow insurers to participate in the program.

While recessions tend to place downward pressure on workers’ compensation exposure, National Council on Compensation Insurance (NCCI) chief economist says this could result in a surge in claims.

Elizabeth Monrad was found guilty of conspiracy, securities fraud, making false statements to the SEC and mail fraud charges.

The average personal injury protection payment for claims from vehicles with seatbelts, but without airbags, was 32% higher than the average for vehicles with front airbags, and 57% higher than the average for vehicles with both front and side airbags.

The Senate approved several amendments yesterday that call on the Federal Reserve Board to release details about institutions that have received assistance during the financial crisis.

MFC Global Investment Management will use the Thomson Reuters Portia recordkeeping system for more than $66 billion in public assets under management.

Instant messages, text messages, blogs and wikis are some of the culprits contributing to content management difficulties.

Fans and critics of the new legislation weigh in after formal introduction.

Former CEO says risk management culture withered after his tenure ended.

Bill intends to protect elderly consumers from fraud.

Insurer will shed 10% of workforce and consolidate offices worldwide.

Insurers say an Optional Federal Charter (OFC) will streamline distribution channels, lower administrative costs and provide more product choices and pricing options for policyholders.

Commissioners’ Mandate Rests on Unfounded Fears

Among other findings in a Willis Re report, the reinsurance market stands out as the only capital market operating smoothly, with buyers able to access large quantities of contingent capital.

WEB-BASED BILLING SYSTEM

IMAGERIGHT AND READSOFT PARTNER ON OFFERINGS

Reinsurers used to operate on experience, intuition and a handshake.

LIMRA/LOMA CEO predicts a vastly different life insurance industry after the financial crisis and economic downturn comes to an end.

Exclusive to INN: Ara Trembly, among industry thought leader contributors.

The Operational Riskdata eXchange Association is one of the loudest voices calling for the creation of a global standard for reporting loss events to regulators.

Aflac and State Farm were the only two companies in the top 25 to buck the trend and record positive year-over-year gains.

A new report from Celent sees double-digit growth ahead for business process outsourcing.

Celent believes that if insurers invest in technology, improve their infrastructure and don’t get too caught up in the prognostication, they'll be able to successfully endure the economic crisis.

Mike Wells, Jackson National's CFO, believes companies will regroup in 2009, as consumers figure out what their risk appetite will be going forward.

Rating agencies review, process 2008 Q4 earnings reports and investment losses, with mixed results.

Financial services organizations may regret taking a reactive stance to the down economy, since holding back on IT spend restricts improving the very systems that create a competitive edge.

Catastrophes, mortgage/financial guaranties are cited as primary cause, as American Family, State Farm CNA Insurance Cos., lead the industry with the highest ratios.

One of the biggest challenges facing insurers today is updating or migrating their legacy systems to better align themselves with the rapidly changing business landscape.

Elimination of contentious group support clause paves way for enactment of regulations.

A new document shows that a strong balance sheet and operational support are the keys to strong rating.

PCI prefers regulators avoid a one-size-fits-all approach and instead take one that recognizes that few P&C carriers pose a system risk.

As the importance of the Web as a service channel grows, carriers need to recognize the importance of mashups as a business tool.

Deloitte identifies attributes of Gen Y that will help insurers create a customer service model geared toward the growing consumer group.

Treasury secretary gives tacit support of federal charter in congressional testimony, reigniting a contentious debate.

Health insurer is the latest target in dispute over compensation database.

The Treasury Secretary says large insurers should come under federal regulation, as he details Obama administration’s plan to re-write oversight of financial services industry.

Bank hires new president tasked with expanding distribution channel.

It isn’t compensation that drives insurance agent satisfaction with their P&C insurers; it’s the insurers’ primary contact and breadth of product availability, according to J.D. Power and Assoc.

As offerings widen, carriers are continuing to find places throughout the enterprise to employ data-driven technologies.

The push includes giving the agency the authority to provide financial help or even place a company into conservatorship and receivership.

Although the rating itself was left unchanged, citing the drop in insurance operations capital caused by stock market declines, S&P’s Ratings Services downgraded the insurer’s outlook from stable to negative.

A new Gartner study says that, despite the fact that fewer than 10% of surveyed organizations currently run the latest version of their CRM suite, business execs are overwhelmingly eying upgrades.

As AIG recipients agree to return bonuses, attention is shifted to increasing federal governance and regulation.

Results of a RIMS survey highlight the immature nature of the ERM technology market.

The National Association of Insurance Commissioners announces it adopted a proposal to review the use of credit-based insurance scoring, and advocates and critics speak up.

A.M. Best announces ratings adjustments for American Family Insurance Group, Delta Dental, Homesteaders Life Co, among others.

The yearly performance evaluation for Fitch's rated P&C universe showed, in many cases, flat or reduced premiums, poorer underwriting results and significantly higher catastrophe-related losses.

Shaun Kelly will take over for current president Bob Deutsch, effective March 31, 2009.

Therese Vaughn says as U.S. legislators consider how to regulate insurance, they well may follow Europe’s lead.

A new bill seeks to amend the McCarran-Ferguson Act.