Distribution

WAUSAU, Wis.-- Financial executives for mid-sized companies expect greater productivity savings by reducing workers compensation claim costs than by reducing claim costs for other lines, according to a new survey commissioned by Wausau Insurance.

Uniondale, NY--OnlineBenefits Inc., provider of Internet-based HR solutions, has officially unveiled AgencyWare, the first integrated sales, service and commission tracking software product specifically designed for group benefits brokers.

Agent extranets that don't support quoting, issuing and servicing policies are like dinosaurs: plodding, cumbersome and heading toward extinction.Grange Insurance executives understood that merely pushing information through a portal to its agents would fail to meet its standards of service.

Independent insurance agents have built their reputations serving customers, but now they're being asked to not only serve customers, but to protect their personal information.As individuals become increasingly vigilant about the privacy and security of their health and personal information, the onus has fallen on independent agents and brokers to safeguard this information, according to a new report by Agents Council for Technology (ACT).

In the fiercely competitive direct-to-consumer insurance market, the ability to mine prospect data-and act quickly on that information-is critical to success. That was the challenge Savings Bank Life Insurance Co. of Massachusetts (SBLI) faced as it launched an aggressive marketing effort that would eventually bring in tens of thousands of new inquiries from potential customers.Specifically, SBLI, which is based in Woburn, Mass., needed to move several gigabytes worth of data through a system that not only could help identify hot prospects, but also would more proactively track the status of pending customers moving through the application process.

Insurance and financial services companies don't produce shiny new cars for their customers to drive away-or big-screen TVs for their customers to take home and show off to the neighbors. Essentially, they sell agreements-promises described in documents that they deliver to their customers-traditionally in paper form, but more and more in electronic versions.Ameritas Acacia Cos., a diversified insurance and financial services firm comprising Ameritas Life, Acacia Life and their affiliates, is one such company. "The end product we produce for the customer is a document," says Kirk Dietrich, document composition analyst at the Lincoln, Neb.-based firm.

In December 2003, a handful of insurance execs interested in starting their own business venture came up with an idea: an Internet-based distribution network that could cut application processing time and expense for carriers, give agents a more efficient and profitable way to write policies and provide consumers with competitive, lower-cost health insurance.Almost one year later, their dream became a reality in the launching of America's HealthCare/Rx Plan (AHCP), a subsidiary of Chicago-based Insurance Capital Management. The Web site, www.ameri-choice.com, has resulted in more than 5,000 new major medical insurance applications worth more than $10 million in premium revenue since its full launch last June. In addition, more than 2,000 independent insurance agents are writing health policy business for the site's principal carrier partner, Continental General Insurance, a division of Ceres Group, Cleveland.

MetLife Inc. and Citigroup Inc. today announced an agreement for the sale of Citigroup's Travelers Life & Annuity, and substantially all of Citigroup's international insurance businesses, to MetLife for $11.5 billion, subject to closing adjustments.

Tempe, Ariz.-The Progressive Group of Cos. is opening what it believes to be the only insurance group-owned commercial auto claims training facility in the U.S.

SAN FRANCISCO--A new study that details due diligence considerations for institutions seeking an identity theft solution provider has been released by Identity Theft 911, the nation's recognized leader in identity theft resolution, defense, and education. The study examines issues that are too often overlooked by financial institutions, insurance firms, and other organizations as they sift through the diverse offerings that have emerged in response to the identity theft crisis.