Distribution

To Improve Operating Ratios, Insurers Must Improve Risk Selection, Pricing and Processes For More Predictable Returns.

While there are many advantages to moving to a digital environment, insurers are finding that to be successful, a big-picture, stepped approach is required to address compliance issues.

GEICO has announced iPad application updates designed to make it easier for customers to conduct business and learn about their policies.

American pre-retirees are not taking retirement planning seriously, according to a LIMRA study. Twenty-five percent of the 33 million U.S. pre-retirees, surveyed, said they felt “very prepared” for retirement, down from 30 percent of those surveyed in 2010.

Of the myriad technologies that engage and empower the distribution network, it’s strategic, not transactional, management efforts that win the day.

Michael Babikian has been promoted to president and CEO of Transamerica Brokerage, a distribution unit of the Life & Protection division of Transamerica. Previously Babikian was EVP, chief marketing officer, brokerage, and chief product officer. Babikian replaces Marty Flewellen, who was promoted to chief distribution officer.

Per unit costs for life insurers drop dramatically, as do errors and the business-cycle time.

40 percent of mid-sized and 10 percent of large P&C insurers are implementing or planning such projects, and many challenges are foreseeable, Deloitte research says.

As the company considers its mobile strategy, Waleed Sharaf, VP of Information Technology, ICW Group, discusses some of the possible solutions to address the requirements of several customer types.

Company adds commercial products to its online portal for brokers.