Digital Platforms

Based on recent survey results from Aon Consulting, actuaries expect costs to rise an average of 10.6% during 12-month rating periods starting this year between April and September.

Association says proposed changes to the arbitration system are unfair.

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Letter asks senators to scuttle Insurance Information Act

The Chicago vendor is endorsed by the Independent Health Insurance Agent Association (IHIAA) for its suite of quote engines, agent Web sites, e-mail autoresponders and lead management systems.

The planned acquisition of AIX Holdings follows two other acquisitions The Hanover has made in recent months to build out its product and service capabilities for its agent partners.

A survey of driving habits shows that annual mileage driven on American roads is declining, mainly because of a reduction in discretionary use of vehicles.

Washington - The National Oceanic and Atmospheric Administration (NOAA) offered some dire predictions today, stating that the Atlantic hurricane season will be more active than forecasters first predicted, with up to 10 hurricanes expected to form.

A new report says because of their ubiquity, producers must strive to make their portals exceptional.

Based on their banking colleagues experiences with the implementation of the Basel II accord, Aon recommends European insurers ready themselves for Solvency II long before 2012.

Health insurer expands an online community of healthcare information sharing.

Northbrook, Ill. — A unique marketing initiative by Allstate Insurance Co. will expand its Allstate Green electronic payment option initiative to eight states, make good on local green promises and leave its mark as a corporation that cares about the environment.

The transition to the global use of International Financial Reporting Standards (IFRS) may create dramatic change in insurance products, investment strategies, risk management and M&A activities.

The rate of claims may be down, but medical costs and permanent total claims across all industries, regions, and payroll sizes are increasing.

The prospect of an optional federal charter for insurers gets another airing.

Needham, Mass. - In June 2008, the U.S. Securities and Exchange Commission (SEC) released a proposal to reclassify the annuity products referred to as fixed indexed annuities or equity indexed annuities (indexed annuities) as securities. New research from Needham, Mass.-based TowerGroup Inc. finds that this proposal has far-reaching implications for the insurance companies and agents selling the products.

NAPCO EXPANDS USE OF AIR CATASTROPHE MODELS

PATNI RELEASES AUTOMATED FRAMEWORK FOR INSURANCE

Seattle - The shareholders of Safeco Corp. voted overwhelmingly to approve the merger agreement entered into on April 23, 2008 with Liberty Mutual Group. Of those Safeco shareholders who voted, 99.5% voted to approve the transaction. Under the terms of the merger agreement, Liberty Mutual will acquire all outstanding shares of common stock of Safeco for $68.25 per share, in cash. The transaction is not subject to financing contingencies.

Leasing Equipment Answer Capital Preservation

Insurers need to go beyond the traditional definition of innovation and develop a culture in which new ideas are a part of the DNA and touch all sides of the industry, says Aon EVP.

As providers seek to improve patient satisfaction and associated business outlook, many are turning to electronic health records as one way to become more efficient and improve their operations.

According to Novarica research, companies need to look past hype and concentrate on creating business value.

The Center for Health Value Innovation directors gathered to discuss emerging trends and their relevance to health improvement and innovation.

National Indemnity Co. rapidly launches Fiserv’s Advance Billing solution.

Under the new organization, MajescoMastek has formed two divisions focused on meeting the specific needs of insurance carriers.

Congress holds hearing on the regulation of long-term care insurance.

A new study reveals that fewer than 50% of large enterprises rate their tools as “good” in maintaining high performance of applications on their corporate networks.

While insurers’ policy admin systems may have all the functionality they need right now, Celent warns that it might not be able to scale to support their business in the future.

The Japanese carrier is paying approximately $4.7 billion to acquire the Pennsylvania-based commercial property/casualty insurer.

A new report says sovereign wealth funds may target insurers for investment.

Architecture challenges and performance concerns are hampering life insurers’ adoption of software as a service for their policy administration systems.

The P&C insurer is launching a new Web site to educate its distribution network.

The Chicago-based insurer issued a client bulletin to provide healthcare managers with risk management guidance on responding to serious medical errors.

The effort to reform agent licensing passes subcommittee.

A report from the Government Accountability Office paints a grim picture of the national flood insurance program.

Insurers are implementing strategies—that include technology—to identify, classify, protect and manage sensitive information.

Travelers, Nationwide, The Big I and The Council are fostering a comprehensive, private-market approach to improve the affordability and availability of coastal wind storm insurance for homeowners.

A new study says that ill effects of mergers and acquisitions, such as executive turnover, can last a decade.

A CPCU, Fitzgerald brings commercial lines experience to the Celent lineup of analysts.

Two-thirds of early adopters say governance is lacking, yet is the key to success.

Stamford, Conn.-based professional services firm Towers Perrin is looking for data submissions for its 2008 Directors and Officers (D&O) Liability Survey, which chronicles D&O liability insurance purchasing trends.

According to a Wausau Insurance-sponsored survey, a U.S. economic recession isn't believed to ramp up the number of workers' compensation claims.

New research from Conning Research and Consulting says the property/casualty industry should be able to withstand the current price deterioration affecting insurers.

Insurance Information Act Presses On The controversial effort to establish a federal insurance advisory clears a legislative hurdle.

Expanded Role for RRGs Elicits Concern Insurers raise hackles as the Increasing Insurance Coverage Options for Consumers Act moves out of committee.

Celent: Insurers Can Improve the State Filing Process Insurers take action to improve their state filing process, and technology is a key contributor.

Ward Cites Top Performers in P&C, Life/Health Carriers recognized for balancing technology deployment, expense management and customer service.

The action was taken in response to emerging concerns expressed by state regulators and The Securities & Insurance Licensing Association (SILA) advisory board members regarding the potential for conflict of interest between Kaplan and SILA.

Smart Business Expands Life Actuarial Practice SMART Business Advisory and Consulting LLC assumed the clients and personnel of Aon’s Insurance Consulting Services.

Insurance companies need to steel themselves for changes as merger and acquisition activity accelerates. Morphing Vendor Landscape Challenge to Insurers

As complex pricing and product attributes add to insurers’ mounting pressures to execute on news products, is technology or better business processes the answer?