Distribution

Recurring payments offer the insurance industry a simple, yet extremely powerful, customer service solution that has the potential to yield hundreds of millions of dollars in cost savings, improve cash flow, increase productivity and provide a competitive advantage.Also known as automatic bill payment and direct payment, recurring payments enable customers to authorize companies to automatically charge the amount owed on a payment card on a regular basis. Payments may be collected monthly, quarterly, or at whatever interval the consumer and the service provider establish.

Nationwide Financial, Columbus, Ohio, is offering an online marketing tool to help investment professionals grow their businesses and support the long-term investment needs of their clients. Investment Selector is an online quarterly report that recommends investment options and percentage allocations for The BEST of AMERICA variable products. Investment Selector uses research and evaluation methods developed by Morningstar Associates LLC, a registered investment advisor and a wholly owned subsidiary of Morningstar Inc. Investment Selector targets the investments that fulfill five allocation models developed through a collaboration with Ibbotson Associates.

Atlanta-based Blue Cross and Blue Shield of Georgia has launched the Clear Claim Connection, an online product and service for its network providers. This product, created by McKesson Corp., enables BCBSGa to share with network providers the auditing rules and clinical rationale which exist in the claims billing and auditing code system used by BCBSGa.John Watts, president and chief executive officer of BCBSGa, says, "This important service will enable network physicians and their office staffs to review our payment methodology online. By providing this service, we hope to make our reimbursement policies more readily accessible and reduce misunderstandings among providers, members and BCBSGa."

Prudential Financial Inc., Newark, N.J., has introduced an automatic, online licensing application for brokers seeking appointment to sell the company’s insurance and annuity products. The electronic data collection tool, called Online Confidential Data Sheet (CDS), was developed by BISYS Education and Licensing Services for Prudential.The Online CDS streamlines the traditional, paper-based appointment process and greatly improves brokers’ speed to market.

NEW YORK--The Guardian Life Insurance Co. of America is making an effort to demystify the financial planning process and educate visitors on the role that Guardian's products and financial representatives play in an overall financial planning strategy. The company is doing it with a new Web site, located at www.GuardianLife.com. The new site replaces Guardian's existing Web address at www.glic.com.

Columbus, Ohio-based Nationwide Financial is using Web technology to make it easier for investment professionals to manage the client review process with a new tool called the Interactive Client Review (ICR).Nationwide's ICR tool simplifies the client review process by providing one-stop, real-time access to client portfolios online. Detailed information is presented in a concise and secure format for investment professionals to access from any remote location. The ICR tool can also provide investment professionals with a quick, easy view of their clients' quarterly statements online. Through its instantly accessible electronic format, ICR aims to help investment professionals manage their clients' accounts in half the time.

HARTFORD, Conn.-- Do automatic teller machines need specialized insurance? They sure do. Recognizing that midsize banks, credit unions, investment firms and insurance companies have a range of specialized insurance needs -- from property coverage for ATMs, foreclosed buildings and repossessed automobiles, to professional liability coverage for banks, investment advisors and insurance carriers--The Hartford Financial Services Group Inc. now offers a tailored package of coverages to address the specific exposures they are most likely to face.

New York-based MetLife has introduced a new online Individual Disability Income (IDI) Broker Portal designed to simplify the policy application and case management process for brokers by providing access to real-time information.Through the IDI Broker Portal, MetAccessIDI.com, brokers can immediately obtain underwriting case status, underwriting requirements and client policy information, including policy status and payment history. In addition, required applications and forms can be downloaded through a link from the site. The portal also features a private message board providing brokers with a convenient channel for communicating with MetLife IDI Underwriters regarding their cases.

AccessAllstate.com, the financial services Web site deployed by Allstate Financial, a business unit of The Allstate Corp., Nortbrook, Ill., is now available to Allstate Financial Institution Divisions' partners. The Web site had previously only been available to financial advisors or Allstate agents who were registered to sell Allstate or Lincoln Benefit Life Company products."AccessAllstate.com is a fantastic tool that helps Allstate effectively streamline how producers do business with us," says Joe Tomalavage, director, Allstate Financial Technology, Allstate Financial. "Now our financial institution partners are able to quickly access client information, obtain real-time policy values, download forms, order marketing materials online, review product and fund information, access sales and marketing ideas 24-hours a day from one central location."

Tufts Health Plan has selected and deployed a software platform for e-billing, e-payment, and online customer care from edocs, Natick, Mass. By enhancing its existing site with the edocs applications, Tufts HP is offering comprehensive functionality for enrollment, billing, reconciliation and payment.