Digital Platforms

At a hearing with four execs representing major financial companies yesterday, lawmakers offered little protest when they received only general answers about how the recent injection federal capital was to be used.

A panel discussion at Innovation World 2008 reveals that establishing a common language and metrics is key to the alignment of business and technology.

American Banker and Financial Insights announced this year's list, highlighting a change in the No. 1 position, and a decided international presence being among the noteworthy differences from last year.

Treasury Secretary Paulson's announcement brought criticism from several quarters, including lawmakers who saw it as a missed opportunity, and bankers who said they have whiplash from the Treasury's about-face.

The dramatic changes that have been occurring in recent months are the beginning of a permanent restructuring of financial institutions and insurance entities, according to a story in American Banker.

New research urges organizations lacking formal policies governing how business information is controlled to remedy the situation immediately.

Product aims to meet the needs of technology providers.

Henry Paulson says Treasury is focused on "further strategies for building capital in financial institutions."

The CEO of Medical Records Institute has sent a letter to President-elect Obama suggesting new national strategies to promote health information technology.

Tightening budgets may slow the trend from system replacement to legacy modernization.

Edward Liddy has issued a statement claiming recent media reports have grossly mischaracterized an AIG seminar for independent financial planners that was held in Phoenix last week.

A new study ranks cities most prone to damage from hail storms.

For the first time, the Bush administration took advantage of power it won from Congress last month and bought more than $40 billion of stock in AIG.

In his new position, Gaétan Veilleux will lead the company’s predictive modeling efforts.

A Towers Perrin study found that many executives believe a significant reduction in head count at their organization is somewhat or very unlikely, while some think a more targeted head count reduction is probable.

The latest version of Guidewire’s underwriting and policy administration system is designed to provide P&C carriers leverage in improving core operations.

The research and advisory firm's rankings document the average customer experience of insurers with various technology solutions.

In a significant overhaul of their plan to rescue AIG, federal officials have agreed to inject billions of dollars into the insurance giant while easing terms of an existing credit line.

Web site provides policyholders with a choice of autobody collision repair shops.

Connecticut legislator stays in position to oversee expected financial regulatory reforms.

A political action committee for agents and brokers scored big on Election Day.

The solution is designed to provide customer quotes in less than five minutes; Farmers agents receive more qualified leads.

Enhances protection of spreadsheet data and simplifies anti-fraud processes

ICW Group's work comp customers can take advantage of just-in-time training for new-users, including online training videos, safety webinars and bi-weekly e-mails highlighting safety training topics.

Despite some high-profile deployments, service-oriented architecture is being held back by competing standards and varying implementations.

Although Hartford says it will cut 500 jobs this month, it plans to introduce two variable annuities in Germany in the first quarter and is considering expanding further in Europe and Asia.

A new report from TowerGroup examines the profitability of the life insurance industry in the wake of the current financial crisis.

The U.S. Department of Justice concluded that the “public interest would not be further advanced by filing criminal charges” on former Governor Eliot Spitzer, who resigned from office less than eight months ago amid scandal.

A federal charter, regulatory and flood insurance reform among many issues soon to receive renewed focus by lawmakers under President-elect Obama.

The California insurer says its free, Web-based service, RMRx, is designed to simplify development and implementation of workplace safety programs.

New York and Chicago — Voting is still underway for the 2009 Vanguards in Insurance Practices (VIP) awards, presented by Insurance Networking News (INN) and Celent, a member of the Oliver Wyman Group.

The company cites its capitalization status, and “policyholder best interests” as reasons to reject government funding.

Progressive says plan is simplify and improve agents’ workflows and make it easier for them to conduct business with the carrier.

Electronic health records (EHR) software gets a boost from the Massachusetts Blues, but can they keep the momentum going?

Managing regulatory risk tops list of concerns for today's risk managers; burden expected to increase, according to ACE.

Key new rating variables that are being incorporated into insurers’ predictive models include homeowners rates by peril, homeowners rating by building characteristics, vehicle history and usage-based auto insurance, according to the Casualty Actuarial Society.

Microsoft is the latest vendor to climb into the clouds with its Azure platform, but slow on the uptake as other vendors use Microsoft’s ideology to get there first.

Predicting future losses up to $235 billion, study reveals only $30 billion of total economic losses along the California fault line are likely to be insured.

Until regulatory approval for the acquisition of the insurance companies is obtained, GMACI will continue to write reinsurance and collateralize obligations, which Maiden will reinsure on a 100% basis.

Fred Langhammer's sudden departure was announced in a filing with the U.S. Securities and Exchange Commission.

The Hartford’s CEO releases a statement saying the insurer’s capital position is more than sufficient for current market conditions as well as in the event markets deteriorate further.

Boulder, Colo. — Enterprise Management Associates (EMA), an IT management research and consulting firm, released a new advisory note, “What the Economic Crisis Means for IT Security and Risk Management.” In the advisory note, EMA research director, Scott Crawford, highlights the impact of the current financial industry meltdown, and its implications for the management of security and risk in IT.

Software, personnel transfer to AQS from ISO Insurance Technology Solutions

New whole company modeling and backtesting functions are designed to help insurance companies better manage financials.

The service will supply summarization and electronic delivery of life insurance policy application medical files and associated documents to support new business process.

GLOBAL CASE MANAGEMENT

ALLIANZ SELECTS RISK MANAGEMENT SOLUTION

Also receiving recognition this year are four leaders who have successfully driven significant project and/or process improvements within their companies.

Hurricanes may have superceded earthquakes as the catastrophe du juor, but insurers know they can ill afford to ignore quakes.

Insurers are beginning to realize that effective ERM requires a wide view of the entire enterprise.

For the third consecutive year, INN recognizes the unique accomplishments of the industry's prominent female leaders.

Popularity of business process management is driving vendors to enhance their offerings with business rules technologies.