The Latest

Returning home from the ACORD-LOMA Forum (ACORD-LOMA) last week, I was reminded of a time about 12 years ago when I wrote that data is the lifeblood of the insurance industry and a strategic asset that needed effective management. The recollection was prompted in part by the fact that during ACORD LOMA the topics of big data, business analytics and business intelligence, and the need for quality data, continued to be hot topics both in terms of insurer priorities and discussion points. The fact that the industry is still buzzing about these topics seems to indicate little progress has been made in the last 12 years. And, to make matter worse, recent research indicates insurers are, on average, using only five to ten percent of their current data.

Three items to watch in the wake of the latest big-name technology vendor acquisition.

As the debate over the renewal of the Terrorist Risk Insurance Act (TRIA) heats up in the United States, Aon Risk Solutions released its 10th annual Terrorism and Political Violence Map in an attempt to help companies assess risk levels of political violence and terrorism.

Distribution, BI, agent portal and policy administration top life insurers' list of priorities as they look to differentiate themselves in an increasingly commoditized market.

Approval to sell insurance in Delaware and a new program in Alabama are the latest contributions to the insurer's coastline growth.

Insurer aims to further educate employers on health care reform with online tools.

Last year, claims resulting from dog bites cost insurers nearly $500 million, a 1.2-percent year-to-year increase.

American International Group Inc. (AIG) has announced that Anthony Philip will take over as president and CEO of American International Co. Ltd. in Bermuda.

There are four significant and costly life events that cost the average worker $117,000, according to a survey conducted by Ameriprise.

A committee of 11 insurer CIOs has selected nominees for the second-annual Novarica Research Council Impact Awards. Nominees include: AIG, Aegis, Erie Family Life, Great American, Nevada General, PURE, RLI and XL.