Digital Platforms

Rules passed in the wake of the financial services meltdown will likely require insurers to exhibit better control of their processes.

A new study finds that the mutual fund industry is a growing rival to insurers.

The health insurer is the first in the nation to be integrated on Google’s new platform.

New offering from firm aims to deliver viewpoints beyond those offered in its research.

Regulations are imperiled as European Union members spar over changes that could weaken capitol requirements.

Hosted by NAVA, the seminar will offer a variety of educational offerings and guidance, including a panel of independent broker-dealers discussing their firms’ plans to roll out STP programs.

The plan by New York Life Insurance Co.'s investment management arm to change a subsidiary's name has the firm denying that the company is “dismantling.”

Working collaboratively, Camilion and Cincinnati Specialty Underwriters were able to configure, integrate and launch Authority Suite solution in less than six months.

AIG's former CEO wrote the insurer's current chief on Monday, asking for more disclosure on the government's agreement to buy up to $70 billion in toxic mortgage assets underlying AIG's credit default swaps.

Aon's CEO says the new business unit will leverage the talent within the former Benfield Corporate Risk division to bring global solutions to its construction, energy, marine, space and aviation clients.

The Public Entity Risk Institute's (PERI) says its program's expansion signifies increased awareness on the part of government entities of the value of benchmarking and performance measurement to control costs.

A survey of nearly 700 experienced producers found that about one-third think the U.S. economy will stabilize within one year. More than 90% of producers surveyed think their business in 2009 will be as good as, or better, than they were in 2008.

HEALTH PLAN ANALYTICS

CONNER STRONG SELECTS VIRTUAL IT INFRASTRUCTURE

While few will fault insurers for focusing on survival during these turbulent times, a chance to redefine themselves now exists.

Association’s proposition includes guaranteed coverage for people with pre-existing medical conditions.

NAMIC says small insurance companies at risk unless plan is reformed.

This acquisition is the latest of many investments The Hanover has made in the past five years.

Providers are adopting electronic health records and one has earned a 2% cut in its malpractice insurance premiums.

TowerGroup says tumultuous past year will color the insurance industry going forward.

The number of insurance businesses for sale far exceeds demand in the current market, Travelers Cos. CEO Jay Fishman said yesterday.

AIG will start calling its aigdirect.com business 21st Century Insurance in January, reverting to the brand of a California-based car insurer acquired last year.

The Insurance Research Council (IRC) study is based on data from more than 42,000 auto injury claims closed with payment under the five principal private passenger coverages.

Nationwide Funds’ president sees “light at the end of the tunnel” with new products and distribution initiatives.

Deal is an acknowledgement by risk management solutions provider of critical emergent risk factor: climate change.

Wakefield, Mass. — Panviva, a provider of Business Process Guidance (BPG) systems for the health insurance industry, announced the opening of a U.S. office in Wakefield, Mass., just outside of Boston. There, the company will offer support for its health insurance customer base.

Stamford, Conn. – IVANS, a provider of corporate connectivity solutions and services, worked with personal lines P&C giant Progressive Insurance to implement agent-enabled single sign-on technology through IVANS Transformation Station that makes it easier for agents to quote and service their policies, and streamline their workflow. Once Progressive’s agents update their real-time account via their agency management system, and register at Progressive’s Web site, ForAgentsOnly.com (FAO), they will no longer have to enter their user ID and password when bridging over to the FAO website. By utilizing this technology, Progressive now updates the agents’ credentials within Transformation Station on the agent’s behalf. As a result, any time the agent changes his password on Progressive’s FAO website, Transformation Station is automatically updated, thereby enabling a secure, single sign-on to both Transformation Station and the FAO website, and faster access to their policy data.

New York – MajescoMastek, the subsidiary of global technology solutions provider Mastek, reports that the STG Insurance Suite, in its ready-to-deploy application service provider (ASP) model, has gone live for The Responsive Auto Insurance Co., Fort Lauderdale, and will facilitate processing of the carrier’s personal auto business in the state of Florida.

Minneapolis – Under a new presidential administration, successful financial services and insurance organizations will be those that are not only able to adjust to a changing regulatory landscape, but ones that can also demonstrate they are embracing the letter and the spirit of the law. So say experts at Wolters Kluwer Financial Services, a provider of compliance and operational risk management solutions to financial organizations.

New York — The environment is an ever growing topic of public discussion and businesses are increasingly influenced by potential threats to climate change. However, the potential and sustainability of Green Insurance products and services has not yet been fully examined or determined.

Philadelphia –The legislation and regulations governing the insurance and reinsurance industries that appear directly tied to the financial crisis are causing discussion both in the mainstream press and in smaller markets hoping to involve themselves to a positive end.A story in this morning’s Washington Post described moves by insurance companies to buy savings and loans to get a piece of the $700 bailout pie. Lincoln Financial Group, Genworth Financial and The Hartford Financial Services Group are among several carriers that have recently announced plans to qualify for the government’s $700 rescue funds by purchasing a thrift.

New York - The Risk and Insurance Management Society (RIMS) and LogicManager today released RIMS State of ERM Report 2008. The report substantiates the value of ERM for organizations of all types. It also indicates that companies that have greater risk management and ERM maturity levels enjoy higher credit ratings.

Chicago – The Property Casualty Insurers Association of America (PCI) joined insurance and salvage industry representatives at a meeting last week with the Department of Justice and the American Association of Motor Vehicle Administrators (AAMVA) to discuss proposals regarding insurer and salvage yard reporting of total loss data to the National Motor Vehicle Title Information System (NMVTIS).

Scrutinizing complex claims that carry liability for the physician, health insurers are halting reimbursement for clinical fixes to medical mistakes, says Insure.com.

Washington — In Congressional testimony today, New York Insurance Superintendent Eric Dinallo edged away from plans to regulate part of the credit default swap market.

In a third annual survey, policy administration projects remain the top insurer priority.

Indianapolis - The Indiana Health Information Exchange has launched its Quality Health First disease management and preventive health services notification program.

Washington - A request to establish a process that might reject certain disclosures in mutual insurers’ financial statements was in effect denied Tuesday afternoon by the NAIC’s Statutory Accounting Principles and NAIC/AICPA Working Groups, reports the National Association of Mutual Insurance Companies (NAMIC).

Chicago — In testimony before the House Committee on Financial Services, Cameron Findlay, executive VP and general counsel of Aon Corp., urged the U.S. Department of Treasury to acquire the hundreds of billions of dollars of illiquid assets that reside on the ledgers of 's financial institutions.

Albany , N.Y. — The New York State Insurance Department is readying a review of financial stress testing and scenario analyses of insurers in the state.

Glenmont, N.Y. – The nearly 100 independent insurance agents and company representatives who attended last week’s 2008 CEO Conference, “Challenges for our future: New Talent and New Technology” in Albany last week did so with hope and opportunity in mind.

EbixExchange and SIGNiX, both Web-based technology providers, have partnered to enable brokerage firms to fully automate processing of annuities.

Privy to a variety of educational sessions, technology showcases and business analytics, rating and underwriting product launches, attendees at ISO’s annual conference were told that “winners will have ERM in all parts of their business.”

Hartford Financial Services, Genworth Financial, Lincoln National and Aegon NV are acquiring banks or thrifts to be eligible to receive capital injections under the Treasury Department's Capital Purchase Program.

Lockton Cos.' Fall 2008 Market Update reports that insurance carriers face an ominous set of facts entering the final weeks of 2008.

The financial security company intends to use the borrowings, along with other sources of liquidity, for the repayment of outstanding holding company debt.

Former Montana Governor will step down as association head in February.

Senator proposes mandatory coverage for individuals.

International Data Corp. says the worldwide business rule management systems (BRMS) market enjoyed healthy growth, with revenues increasing 11.4% from 2006 to 2007.

Hartford Financial Services Group Inc., Genworth Financial Inc., Lincoln National Corp. and Aegon NV asked the Office of Thrift Supervision for permission to acquire an existing savings and loan, according to reports.

Approximately $500 million in earned but deferred pay will be distributed in the first quarter of 2009.

The results reveal stark differences in how men and women regard traffic laws.