Digital Platforms

Armonk, N.Y. and Ottawa - IBM and Cognos have entered into a definitive agreement for IBM to acquire Cognos, a publicly held company based in Ottawa, in an all-cash transaction at a price of approximately $5 billion or $58 per share, with a net transaction value of $4.9 billion. The acquisition is subject to Cognos shareholder approval, regulatory approvals and other customary closing conditions. It is expected to close in the first quarter of 2008.The acquisition of Cognos supports IBM's Information on Demand strategy, a cross-company initiative announced on Feb. 16, 2006 that combines IBM's strength in information integration, content and data management and business consulting services to unlock the business value of information, according to IBM. Integrating Cognos, the 23rd IBM acquisition in support of its Information on Demand strategy, will enable new business insights to be delivered to a broader set of people across an organization, beyond the traditional users of business intelligence.

Schaumburg, Ill. – News reports of poison toothpaste and lead-laced toys have not just caught the attention of consumers. The nation’s importers, and the commercial lines writers who serve them, are keenly aware of the dire implications of unsafe products.

Des Plaines, Ill. — The National Insurance Crime Bureau (NICB), a non-profit organization dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through information analysis, investigations, training and public awareness, is launching a free service to help protect the nation's consumers.

Novato, Calif. - AT&T Inc. reports that Allianz of America (AZOA), parent company of Fireman’s Fund Insurance Co. and Allianz Life Insurance Co. of North America, has signed a new four-year managed network services agreement with AT&T.

Naperville, Ill. - INSTEC, a Naperville, Ill. , provider of rating and policy administration software for the insurance industry, struck a deal with Conshohocken, Pa.-based NSM insurance Group for implementation of INSTEC’s QuickSolver Workers Compensation rating and policy administration solution.

Needham, Mass. – New research from Needham, Mass.-based TowerGroup Inc. finds that in today’s global business model, electronic commerce is no longer a “nice-to-have” capability, but a necessity, yet the insurance industry continues to hold onto the traditional paper-based, wet-signature contract execution model.

Los Angeles – In the 1980s, Ronald Katz secured approximately 50 patents related to what would otherwise be considered a rather simple solution: technology that links a telephone to a computer. And if you operate a call center that uses telephony integration or interactive voice applications patented by Ronald A. Katz Technology Licensing L.P., you are probably familiar with the power of his technology—and the might of the licensing behind it.

Westlake, Ohio - UK-based Wilton Re signed a multi-million dollar administrative services agreement recently with Westlake, Ohio-based BPO provider Antares Management Solutions and GeniSys.

New York - With location-specific terrorism risk exposure data, TerrorRisk is a unique risk assessment model that provides the insurance industry with targeted and actionable terrorism risk forecasts to help maximize opportunities and mitigate risk. Developed by New York-based Pitney Bowes MapInfo and Exclusive Analysis, TerrorRisk utilizes fact-based, location-specific metrics to score the propensity and likely severity of violent and political risks on more than 3,700 global points of interest to help insurers and risk managers make more insightful underwriting, rating, coverage and risk selection decisions.

Bolivar, Mo. - Surrey, England-based Duck Creek Technologies Europe, backed by New York-based Pequot Ventures and Duck Creek Technologies Inc., Bolivar, Mo.,announced its intention to bring to market software applications that enable insurers to rapidly define, develop, deploy and manage their insurance products and services.

Warren, N.J. - To address the complex and unique risks that information and network technology companies face serving the federal government, the Chubb Group of Insurance Companies, Warren, N.J. , assembled a group of underwriters, loss control engineers and claim specialists to offer specialized products and services for federal contractors in close collaboration with outside legal counsel.

Chicago — Risk management provider Aon Corp. and Arup, a London-based global multidisciplinary engineering and consulting firm, today announced a strategic alliance that brings to the marketplace an unprecedented pre- and post-loss consulting service that offers clients an independent, global catastrophic risk management solution.

Washington — The Independent Insurance Agents & Brokers of America (IIABA), a national association of independent insurance agents and brokers, released its annual Best Practices Study, which includes the new Rule of 20 statistic, which provides a quick means of calculating whether or not an agency creates value for its shareholders.

Boston — Karen Clark, previously of Applied Insurance Research, is now providing comprehensive reviews of company internal catastrophe risk assessment and management processes. The independent reviews, provided by Boston-based Karen Clark & Co., her newest company, are designed to help companies ensure they have in place holistic risk management processes that comply with best practices. Holistic risk management practices incorporate independent benchmarks and metrics to assess the quality of catastrophe model input and output.

Austin, Texas - Customer Operations Performance Center Inc. (COPC), announced the relocation of its international corporate headquarters from New York to Austin, Texas. COPC Inc. provides consulting, training and certification services to buyers and providers of customer service, customer contact center and business process outsourcing operations.

Mayfield Village, Ohio — The Progressive Group of Insurance Cos., who introduced the first incarnation of its Web site in 1995, has unveiled its new Web 2.0 site, which they tout as the industry’s first.

New York — New York Life Insurance Co. announced today that Senior VP Eileen Slevin has been elected CIO. She reports to Executive VP and Chief Administrative Officer Frank Boccio.

Glenmont , N.Y. — Data collected by a group of professional insurance agents that ranks insurance carrier performance is now available online.The Professional Insurance Agents (PIA) of Connecticut, New Hampshire, New Jersey and New York, a Glenmont, N.Y.-based voluntary, membership-based trade association representing professional, independent property/casualty insurance agents, published its company performance survey database, the result of a five-year collaborative project in which PIA members ranked the performance of more than 80 insurance companies.

Brookfield, Wis. — Fiserv Inc. is selling substantially all of its health businesses to Minneapolis-based UnitedHealthcare, a business of United Health Group, one of America’s largest health care companies, for $775 million in cash, the company reports.The Brookfield, Wis., provider of information technology services to the financial and insurance industries worldwide, said that the transaction is anticipated to close by the end of 2007 or in the first quarter of 2008, subject to required regulatory approvals and customary closing conditions.

JACKSON LAUNCHES BENEFITS CENTERThe Living Benefits Selection Center (LBSC) from Jackson National Life Insurance Co., Lansing, Mich., is designed to enable registered representatives to get instant, client-approved output based on a client's profile information after answering a handful of qualifying questions. The tool also features multimedia presentations, fact sheets and side-by-side comparisons of Jackson's optional living benefits.

XSELL RELEASES INSURANCE FRAMEWORX PLATFORMXSell LLC, a Jacksonville, Fla., provider of on-demand marketing solutions, released XSell's Insurance FrameworX, a version of its Web-based Customer Interaction Marketing platform.

ANPAC ENHANCES ENTERPRISE DATA WAREHOUSE OFFERINGSpringfield, Mo.-based American National Property and Casualty Co. (ANPAC) selected Evolutionary Technologies International Inc.'s (ETI), ETI Solution and ETI Data Profiler as their enterprisewide data integration platform. The products from ETI, an Austin, Texas, global provider of data integration solutions, are designed to provide real-time data to strategic and operational decision-makers.

London - Risk Management Solutions Inc. (RMS), a Newark , Calif. , provider of products and services for catastrophe risk management, launched a new initiative among six of Lloyd's largest managing agents this week designed to change the way exposure data is used in the London Market. The RMS London Market Data Community gives members access to data that has been standardized for use among the members. Data is prepared once by the RMS Data Cleansing Team, and then made available to the community, saving subscribers the time and money involved in preparing the information individually.

Boston - Electronic application submissions have grown dramatically since 2004 but still account for less than half of all new life/health business, according to a new report from Celent, a Boston-based financial research and consulting firm.

Chicago – Citing increased competition and falling rates, insurance brokerage Aon Corp., said yesterday that it will cut 2,700 jobs, or approximately 6% of its workforce, as part of a restructuring plan.The broker made the announcement as part of its release of its 3rd quarter financial results.

David Sampson, the newly appointed president and chief executive officer of the Property Casualty Insurers Association of America (PCI), a Des Plaines, Ill., group comprising more than 1,000 insurance company members, outlined his vision for the association at the organization’s annual meeting this week. More than 1,600 CEOs and senior executives from PCI member companies and global reinsurers participated in the 2007 meeting in Boston, setting records for attendance at the event.

Southern California — Two major insurers are going the extra mile to help their policyholders affected by wildfires by deploying mobile response vehicles to the disaster area. Los Angeles–based Farmers Insurance Group of Cos. is helping thousands of its customers as they file claims and begin returning to their normal lives. Farmers is trying to make it as easy as possible to file a claim by continuing to offer mobile command centers and its Mobile Catastrophe Claims Bus to serve the most customers before they are allowed to return home.

New Orleans — Carriers using advanced analytics in their underwriting, claims and marketing efforts will have a better chance of surviving the current and future state of a softening insurance market, Frank Coyne, chairman, president and CEO of ISO told the 800 attendees in attendance this week at the company’s ISOTech 2007 Connect Conference in New Orleans, La.

Armonk, N.Y. – In the past three years, 62% of enterprises with more than $5 billion in revenue encountered a major risk event, and 42% of these enterprises were not well prepared for the event, according to a study of more than 1,200 chief financial officers (CFOs) and senior finance executives from 79 countries worldwide. The study, from IBM, concludes that a surprising number of enterprises are not well prepared to handle the impact of a major risk event to their organization.

Orlando, Fla., and El Segundo, Calif. - Applied Systems Client Network (ASCnet) and Computer Sciences Corp. (CSC) each awarded customers at their respective conferences.Chambersburg, Pa.'s Strickler Agency Inc. received the inaugural "Interface Agency of the Year Award" presented by ASCnet, the user group for Altamonte Springs, Fla.-based Applied Systems agency technology. The award was presented at the 22nd Annual Technology, Education & Networking Conference.

New York - New York Life Insurance Co. announced today that Frank Boccio has been elected executive vice president and chief administrative officer, reporting to Ted Mathas, president and chief operating officer. Boccio has responsibility for individual policy services, corporate information, corporate services, corporate Internet and business resiliency."Frank is a superb administrator and his leadership has enabled us to improve customer service and agent service in many ways," says Ted Mathas. "Frank's new role will allow him to work even more strategically across several key areas so that New York Life continues to offer world-class service, systems and operational capabilities."

New York - Guy Carpenter & Co. LLC, a global risk and reinsurance specialist and a part of the Marsh & McLennan Cos., expanded its award-winning, Web-enabled i-aXs data management platform to include both workers' compensation and accident and health lines.

Simsbury, Conn. - The Hartford Financial Services Group Inc., Hartford, Conn., appointed Brian O’Connell, a 25-year industry veteran, to vice president and chief information officer (CIO) for its expanding Hartford Life operations. O’Connell replaces Terry Walker, who has moved into the role of chief administrative officer for Hartford Life Japan.

Bethesda, MD–Life insurance standards organization the Insurance Marketplace Standards Association (IMSA) has renewed the membership of five life insurers.

Washington — A vote in the Senate, coupled with signs of capitulation by the Bush Administration, has paved the way for an extension of the Terrorism Risk Insurance Act (TRIA).

A vote in the Senate, coupled with signs of capitulation by the Bush Administration, has paved the way for an extension of the Terrorism Risk Insurance Act (TRIA).

Wakefield, Mass. and Jersey City, N.J.– P&C policy and rating solutions provider ISO Insurance Technology Solutions (ISO-ITS) and consulting firm Edgewater Technology Inc. have entered into a strategic alliance.

Chicago–A new survey demonstrates that increased IT spending results in lower claims processing costs for P&C insurers.

Reston, Va.–Insurance regulators in eight states have granted written recognition to the straight-through processing (STP) standards initiative of NAVA, the Association for Insured Retirement Solutions.

New York – Still searching for applicants, the 12th Annual Webby Awards is accepting entries for its Best Insurance Site of the Year category until Dec. 14, 2007

Mayfield Village, Ohio — The Progressive Group of Insurance Cos. yesterday introduced Paperless Policies, a feature that will allow customers who buy a policy directly from the company, or through one of its independent insurance agencies, the ability to reduce the amount of policy-related paper documents they receive. Having policy documents delivered electronically saves trees, expedites delivery of the documents and reduces the opportunity for misplaced documents, says the insurer.

Seattle and Madison, Wis. — A handful of U.S. auto insurers have begun offering in-car cameras or global positioning equipment to help parents monitor their teenagers' driving behavior, hoping to reduce the number of crashes involving young motorists.

Jersey City, N.J. — Extending its reach in healthcare market as a provider of data, analytics and decision-support solutions, ISO Properties Inc. confirmed the acquisition of Salt Lake City-based HealthCare Insight LLC (HCI), which provides solutions that enable healthcare claims payors to prevent fraud, abuse and overpayment. Terms of the deal were not disclosed.

New York and Chicago - October 10, 2007-- Insurance Networking News (INN) and Celent LLC, announce a partnership to deliver INN's second annual ranking of technology solution providers to the insurance industry, including several enhancements to last year's program. This second annual ranking, called the Insurance Networking News VIP Awards, will be based on a survey of executives and staff from North American insurance companies, including property/casualty, life/health--and new this year--reinsurance. These insurers will identify their preferred technology providers in several categories, such as enterprise platforms, point solutions, platform technologies and services. Also new to the second annual program will be additional rankings by respondent type. The 2008 INN VIP Award winners will be determined solely by insurance carriers, brokers, managing general agents and agents. In partnership with Insurance Networking News, Celent, the most respected source of independent insurance technology and business research and advisory services, will conduct and manage the program's survey distribution, data collection and analysis. In Part II of the INN VIP Awards program, the top-ranked solution providers will be offered an opportunity to nominate an insurance carrier customer as a "visionary" for its use of a specific technology, and is encouraged to illustrate the role, if feasible, that ACORD data standards plays as part of their business and technology success story. INN's readers, its Editorial Advisory Board, and Celent's top insurance research analyst will determine this top-ranked technology best practice in action. "The INN VIP Awards program will provide an important perspective that will contribute to insurance company technology decisions," says Matthew Josefowicz, managing director of Celent's insurance practice. "We hope that the structure of this year's survey, with categories based on respondent type as well as technology categories, will make the results even more useful for INN's readers." For readers of Insurance Networking News who depend on the publication as the independent authority on information on how technology supports insurers' business strategies, the 2008 INN VIP Awards ranking and its accompanying analysis will provide insights into the leading technology solution providers across multiple categories. "This year's enhanced program reflects an honest and factual assessment of the technology solution provider landscape," says Pat Speer, editor-in-chief, Insurance Industry News. "Equally important, the enhanced INN VIP Awards program evokes the necessary discussion of the "why" behind the ranking. By including a critical educational component, such as how ACORD standards have helped facilitate the leading technology's application success, insurers can map to their own success." Winners of this second annual ranking will be recognized at an exclusive black-tie event held in conjunction with the ACORD LOMA Insurance Systems Forum in Las Vegas in May 2008, and will be featured in a Special Report by Insurance Networking News in the June 2008 issue. The special report will also be distributed at the ACORD LOMA Insurance Systems Forum in Las Vegas and at the IASA annual conference in Seattle. The INN VIP Awards ceremony will also be included as part of the INN NewsCast video broadcast. "We are delighted to work with Celent," says Speer. "Celent's research and advisory professionals represent exceptional industry acumen, which means our readers and the industry at large will have direct access to the knowledge and expertise generated as part of our collective research efforts." With six senior-level analysts in the United States, and three covering Europe and Asia, Celent's breadth and depth of insurance technology experience dates back to 2001. Celent is the only analyst firm to publish comprehensive reports on insurance software sales volumes and in-depth rankings of vendor software. Celent also publishes the widely read annual CIO survey and popular Model Carrier report, making the firm uniquely position to understand the buyer's side of the industry's highly competitive landscape. Contact Josefowicz directly via e-mail at mjosefowicz@celent.com if you have questions about the INN VIP Awards ranking, or wish to participate in the survey. To participate, please go to: www.insurancenetworking.com. Technology solution providers seeking more information about the Insurance Networking News' VIP Awards, or information about how to post the survey link on their Web sites, can contact Holli Gronset at holli.gronset@sourcemedia.com or 312-983-6178. About Insurance Industry News and SourceMedia, Inc.Insurance Networking News is a trusted source for information on how technology is being implemented to support insurers' strategic business objectives, providing insightful analysis of - and case studies on - how technology is being innovatively utilized to automate critical processes. Every issue of Insurance Networking News is written to help senior insurance executives bypass the hype and get to the heart of resolving industry challenges. Readers rely on carefully researched content that is both engaging and analytical.SourceMedia, an Investcorp company, is the pre-eminent provider of timely and essential market information - including industry news, analysis, research and insights - for members of the financial services community, as well as related fields such as accounting and technology. Through its comprehensive library of professional publications, suite of industry-standard data applications, and in-depth seminars and conferences, SourceMedia (www.sourcemedia.com) offers its clients and subscribers a valuable and sophisticated range of products and services. About Celent LLCCelent, LLC is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. More information about Celent's insurance practice is available online at www.celent.com/insurance.asp Source: Insurance Networking News and Celent LLC

Thousand Oaks, Calif. — For small-business owners who face pressure to provide their employees with affordable health insurance, one statewide provider has devised an online solution to address the situation. Blue Cross of California has released a new tool that makes it easier for small-business owners to navigate the health care arena and find the most affordable products for their employees with the launch of an online tool called Click4Biz.

Mayfield, Ohio - With an overarching goal to create a safer driving experience for its customers, The Progressive Group of Insurance Cos. is offering a virtual driving experience to existing and potential customers across America. The carrier is teaming with Metro City Group, a Laguna Niguel, Calif., owner of a 68-foot multimedia-equipped tractor-trailer, to provide drivers with the chance to test their skills in practical behind-the-wheel driving situations in a safe, virtual environment. With their eyes on the road and their hands securely placed at the “nine” and “three” positions on the steering wheel, people who experience the Progressive Driving Skills Simulator will increase their knowledge of the rules of the road and be better equipped to handle any driving situation. The driving course curriculum includes real-life situations--such as driving in high traffic, congested areas, through foggy or rainy weather or simply passing and yielding to other drivers--and the virtual technology system measures drivers' responses, reaction times, crash reduction techniques and general driving knowledge. "The interactive experience of the Progressive Driving Skills Simulator gives people the chance to 'test drive' their skills in all types of driving situations, which we hope will prepare them for driving on the real--not virtual--road," said Progressive product manager Mike Storbeck from the company's headquarters in Mayfield, Ohio. "Our objective has always been to redefine drivers education and provide a practical training program that gives people a chance to test, and practice, their skills in a safe, simulated environment," said Tim Albright, president of Metro City Group, owner of The Simulator. "We are looking forward to working with Progressive, and are sure that, together, we can make our roads safer and more enjoyable for everyone." Over the next several months, the Progressive Driving Skills Simulator will travel to many local events in the Western United States, including Motor Trend Auto Shows, state fairs and other automotive industry-related events. More information is available at www.progressive.com or www.streetsimulator.com. Source: Progressive Group of Insurance Cos.

Washington – Thanks in part to technology that automates the credit-verification process within 48 hours, an unlikely contender is entering the mortgage lending business. A division of Citigroup Inc. is piloting a program to offer mortgages to Washington-area residents with "limited credit histories" who "therefore often end up with high-cost or risky home loans." Setting aside $200 million for the program, the division, CitiMortgage, has partnered with Fannie Mae, Washington, D.C. and State Farm Mutual Automobile Insurance Co., Bloomington, Ill., which together agreed to buy $100 million worth of the loans. To qualify for the program, a person must be in the country legally and have alternate credit lines, such as rental payments, utility bills or a tithing record, that a lender can use to evaluate creditworthiness. Historically, gathering the paperwork to confirm these trade lines has been a laborious process that could take months, which often discouraged potential buyers and hurt their chances of closing a deal, reports The Washington Post.

WASHINGTON — The practice of insurers basing auto insurance premiums on a customer's credit rating was questioned at a House hearing yesterday, with critics asking whether it disproportionately hurts young people and minorities.

Washington — Gov. Marc Racicot, president of the American Insurance Association (AIA), made the case that the Federal Trade Commission's (FTC) credit study is the latest proof that credit-based insurance scores are fair, objective and beneficial to a vast majority of consumers. The American Insurance Association, Washington, represents approximately 350 major insurance companies that provide all lines of property/casualty insurance and write more than $123 billion annually in premiums. "There is no question that credit-based insurance scores are an efficient and accurate predictor of risk," stated Gov. Racicot. "Their use helps insurers refine their pricing to better reflect an individual's risk profile, resulting in most consumers paying less for insurance." In a statement to a U.S. House Subcommittee, Racicot responded to the FTC study, "Credit-Based Insurance Scores: Impact on Consumers of Automobile Insurance," (July 2007), which is the subject of a hearing today in the U.S. House Committee on Financial Services, Subcommittee on Oversight and Investigations. "It's a simple equation—the better your credit score, the lower your risk in the eyes of insurers— resulting in you paying less for your insurance," concluded Racicot. "The use of credit-based insurance scores has been in existence for more than a decade and has helped expand the availability of insurance in many markets, and increased competition among insurers." Opponents still contend that credit scoring tends to raise premiums overall, that it doesn't correlate directly with risk and that it may serve as a proxy for racial and ethnic discrimination, because some minority groups have lower incomes and are more likely to have credit problems. The FTC's study firmly validates the insurance risk assessment capabilities and consumer benefits of credit-based insurance scores. Most people pay less for insurance because of insurer use of credit, which the FTC's study, and numerous state studies have confirmed. According to the FTC, scores are 'predictive of the number of claims consumers file and the total cost of those claims,' and 'scores also may make the process of granting and pricing insurance quicker and cheaper, cost savings that may be passed on to consumers in the form of lower premiums.' Additionally, the FTC study directly refutes unfounded claims that insurers use credit-based insurance scores to 'unfairly target' minorities saying such scores 'have little effect as a "proxy" for membership in racial and ethnic groups in decisions related to insurance.' The FTC study shows there is no way to determine a person's race, ethnicity or economic status by simply looking at an insurance score. In August, the Federal Reserve also issued a report to Congress that evaluated the use of credit scoring and its effects on the availability and affordability of credit. The Federal Reserve's findings tracked closely with those in the FTC's study. Both clearly established that credit is a reliable risk predictor, and that credit scoring has little to no effect as a proxy for race or ethnicity, reports the government body. In urer use of credit is governed not only by the Fair Credit Reporting Act, which expressly allows for its use, but by dozens of state laws and regulations, including what is considered standard practice in the market, the National Conference of Insurance Legislators (NCOIL) Model Act on Credit. Introduced in 2002, the NCOIL model is law or regulation in 26 states, and it balances insurers' need to use an actuarially sound variable while enumerating certain consumer rights and protections, including not having credit be the sole determining factor for coverage or non-renewal, or allowing an exemption to insurer use of credit due to "special life circumstances" for things such as the death of a spouse or an unexpected medical emergency. The law also requires insurers to re-rate customers with corrected credit reports, notify applicants that credit information is being used in setting rates and let customers know if their credit information results in an adverse action—a higher premium, for example, or denial of coverage. It also is designed to protect consumers' privacy. Sources: PR Newswire, INN archives

Washington — A subgroup of the National Association of Insurance Commissioners (NAIC) is drafting a proposal to amend the existing regulatory framework to allow for single-state licensing of U.S. reinsurers, the insurance body reports. NAIC's Reinsurance Task Force is encouraging the NAIC to develop a reinsurance supervision review department (RSRD) to comprehensively modernize reinsurance regulation in the United States. "As state insurance regulators look at enhancements to reinsurance regulation in the United States," said NAIC President and Alabama Insurance Commissioner Walter Bell, "we are encouraged by supervisory developments in non-U.S. jurisdictions where robust regulation of reinsurance has recently been introduced." In the European Union, for example, member states are in the process of implementing a new reinsurance directive. The NAIC's reinsurance proposal could ultimately provide a framework for mutual recognition between the U.S. and non-U.S. jurisdictions. The RSRD would assist in the evaluation of the extent to which non-U.S. jurisdictions apply regulatory oversight that is "functionally equivalent" to U.S. regulation. Under the proposal, non-U.S. reinsurers domiciled in "functionally equivalent" jurisdictions would be allowed to access the entire U.S. market through a single port of entry state. "U.S. regulators believe that a reinsurance regulatory framework also must be sufficiently flexible to accommodate the rapidly changing reinsurance environment, while providing for appropriate levels of financial stability, solvency and predictability that are critical to a vigorous market, consumer protection and a strong and secure insurance regulatory system," Bell added. NAIC's Task Force will discuss this proposal during a meeting Nov. 7-8, 2007, held in conjunction with the NAIC Financial Summit in Atlanta. For more information, visit www.naic.org/committees_e_reinsurance.htm. Source: National Association of Insurance Commissioners

STUDY: INSURERS NEED TO CHANGEU.S. consumers want insurance companies to more effectively communicate new products and services available to them, provide customized policies to better meet their needs and bring their customer experience up to par with other industries, according to a study by Armonk, N.Y.-based International Business Machines Corp. (IBM) of more than 3,000 P&C insurance policyholders.

ANALYZE ALL TYPES OF CUSTOMER FEEDBACKAttensity Corp., a Palo Alto, Calif.-based business intelligence software provider, has released Attensity Voice of the Customer (VoC), a software solution designed to enable enterprises to analyze and act on all types of feedback from customers.