Distribution

The potential commoditization of insurance products means companies need to focus on self-service Web presences.

Crump Insurance Services Inc. (Crump P&C) the property/casualty division of Crump Group Inc. has joined the LexisNexis Insurance Exchange.

John Hancock Financial, a unit of Manulife Financial Corp., has entered the travel insurance marketplace, distributing products through a new website, www.johnhancocktravel.com, and through travel insurance comparison sites, such as InsureMyTrip.com.

The always-on, always-up digital culture that has been so readily adopted by younger Americans is having an impact on direct mail, according Mintel Comperemedia, a firm that provides competitive intelligence services. The firm reports that direct mail volume to consumers from life, health and property/casualty insurers is down 11 percent in Q3 2011 compared to Q3 2010.

Financial consulting firm Deloitte has acquired mobile agency Übermind Inc., expanding Deloitte’s business, systems integration and enterprise technology capabilities. Terms of the deal were not disclosed.

Spurred by its $16.2 billion acquisition of American Life Insurance Co., MetLife Inc. moved into the top five while American International Group Inc. (AIG) slid from third to fifth in A.M. Best’s rankings of the top 25 global insurers based on nonbanking assets. UnitedHealth Group and WellPoint Inc., at third and eighth, respectively, were the only U.S.-based insurers to rank in the top ten based on net premiums written.

One week after new data from the Centers for Disease Control and Prevention (CDC) shows that the number of children with insurance increased by 1.2 million since President Obama signed the Children’s Health Insurance Program (CHIP) Reauthorization Act in 2009, more than $296 million was awarded to states for ensuring more children have health coverage.

Fidelity National Financial Inc. (FNF) agreed to sell an 85 percent interest in its personal lines business to WT Holdings Inc. for approximately $119 million. Under the terms of the definitive agreement, WT Holdings will acquire Fidelity National Insurance Company, Fidelity National Property and Casualty Insurance Company and FNIS Insurance Services. FNF will retain a 15 percent minority ownership position in the personal lines business.

Amica Mutual received the top honor for overall excellence from InsuranceQuotes.com’s inaugural Insurance Quality Awards.

Potentially simpler interconnectivity and cheaper information dissemination processes could make insurers, and insureds' wallets, very happy.