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New York - A number of life insurance executives recently surveyed by Deloitte & Touche USA LLP's insurance industry group related that technology is more likely to be considered a barrier at this point in time, rather than a strength. Many stated they can do better in terms of streamlining the growth processes to enhance the distributor and customer experience, and they do not believe their technology is as advanced as it can and should be.The survey of 20 C-suite executives from top life insurance companies, as well as an analysis of life insurance industry growth patterns contributed to a report--"Organic Growth for Life Insurers: A Playbook for Market Advantage."

Forget the stereotypes--ASP isn't just for small, IT-challenged carriers any more, and many of the ASP problems that gave insurance companies pause only a few years ago are being solved. Dollar savings and fast time to market are still big pluses for ASP, but today there are a lot of other reasons to consider it.The market among insurance carriers for ASPs, or application service providers, is growing by about 10% a year-slower than in most other industries-according to Marc Cecere, vice president and principal analyst for Forrester Research in Cambridge, Mass. From a supply-side perspective, that's partly because of the structure of the insurance industry and partly because of the regulatory scene for insurance companies.

Two factors that define a customer's image of an insurance provider are the quality of the buying experience and the effectiveness of the underlying communication. That's why carriers find a comprehensive enterprise communications platform critical. What's needed in communications is consistent excellence.Insurance carriers are feverishly modernizing almost every other aspect of their business, from claims and policy administration systems to agent automation. Large and mid-sized carriers alike are engaged in sweeping projects to grow their businesses and streamline internal processes. In many cases, those efforts provide an opportunity to embrace new capabilities. Yet their approach to document generation has remained static.

CANAL SELECTS TRUMBULL FOR SUBROGATION MGT.Canal Insurance Co., Greenville, S.C., entered an agreement with Trumbull Services, Windsor, Conn., to use Trumbull's Subrooutsource, an internally developed, advanced system designed to enhance subrogation recovery activities for all lines of business nationwide. Trumbull, in conjunction with an experienced subrogation team, will manage the entire subrogation process, leveraging the system's abilities to increase recoveries through effective resource allocation, automated workflows and a continuous improvement model.

Fayetteville, Ark. – The Gramm-Leach-Bliley Act (GLBA) has not created significant synergies between commercial banking, investment banking, merchant banking and insurance activities, according to a finance researcher at the University of Arkansas. It also had little effect on bank profitability and productivity.

Malvern, Pa. - A number of chartered property and casualty underwriters that belong to the CPCU Society believe that the industry will experience greater integration of productivity-enhancing technology into day-to-day insurance operations. They'll also face more regulatory pressures, compounded by a growing risk of class action litigation. That said, the members, who were surveyed last year, believe that they are well equipped to deal with the industry's upcoming challenges. The CPCU Society, which counts more than 26,000 members in its ranks and is headquartered in Malvern, Pa., released the results today of a November survey of its member opinion panel. In this first survey of a two-part series on insurance career outlooks, members of the panel were asked for their views on the industry's future, and what any impending changes would mean for their careers. Members did raise concern, however, about the preparedness of their industry to deal with the upcoming wave of retiring Baby Boomers. Combined with a projected shortfall in the number of new entrants with the necessary technical and subject skills, 66% of survey respondents foresee an "experience gap" as very likely to form in the next five years if nothing is done. Their suggested countermeasures include more aggressive recruiting efforts; improved training; retaining retiree capital via consulting, mentoring, and flexible scheduling; more competitive compensation and benefits; and enhanced positive visibility for the industry and its career options. "It's become very clear that education of its employees will be critical to the success of the industry's future," says Betsey Brewer, CPCU, 2006-2007 president of the CPCU Society. "Employers must recruit the best and brightest, especially applicants who hold a professional designation, like the CPCU, and/or have significant industry experience," she says. Source: CPCU Society

Omaha, Neb.-- Mutual of Omaha launched a Web site where consumers can receive information on insurance, free rate quotes and purchase a variety of Mutual of Omaha insurance products, the company reports. The site, www.mutualofomahabuyonline.com, is described as a one-stop shop for consumers who prefer a less-traditional avenue for purchasing insurance. "We recognize that some people are not only comfortable with researching online, they actually prefer to purchase online, too," said Tom Graham, senior vice president of Direct-to-Consumer Marketing at Mutual of Omaha. "We want to provide access to products that serve the consumer when, where and how they choose." The site currently offers accidental death insurance, cancer insurance as well as adult and juvenile life insurance through Mutual of Omaha and its life insurance affiliate, United of Omaha. Mutual of Omaha opened its doors for business in 1909. Source: Business Wire

Dayton, Ohio - Anthem Blue Cross and Blue Shield launched a pilot e-prescribing program in two Ohio communities in an effort to reduce medication errors and the time physicians spend managing prescriptions.Currently, less than 22% of physicians nationwide use the basic capabilities of e-prescribing, according to the Center for Medicare and Medicaid Services (CMS), Baltimore, Md. CMS estimates that the use of such technology could eliminate as many as two million harmful drug events each year.

Washington - A coalition of insurers, technology companies and health care organizations is working to provide free electronic prescribing to every physician in America.

The road seems less bumpy these days for insurance carriers that use state-of-the-art automated compensation to calculate and track agents' commissions. A single streamlined third-party system can replace a hodgepodge of legacy software and manual processes, users say, helping to reduce clerical work, increase accuracy and improve reporting. Moreover, carriers report that the software opens up a whole new world of analysis that pinpoints the true sources of profit and helps identify and retain the best agents.The accuracy rate for commissions at Blue Cross Blue Shield of Florida, for example, has improved from 80% before introducing up-to-date automated compensation to 95% after the implementation, says Linda Lamb, BCBSF vice president of sales business management. The remaining errors arise from data entry miscues or software problems outside the system, she says.