Insurance

Replacing manual processes with network technology, carriers grow producer channels and accelerate time to revenue.

NATIONWIDE FINANCIAL ADVANCES TIME TO MARKET

IVANS GIVES PROVIDERS HIGH-SPEED CLAIMS PROCESSING

Carriers are taking steps to modernize their claims processing systems and better integrate technologies with existing systems.

Technology pioneer Bill Lowe says insurers can reap many benefits by opting for a hosted infrastructure.

Despite its ability to change the face of a company's IT infrastructure, the best approach to SOA implementation is incremental.

Instead of adding hardware to solve a file transfer problem, the AEGON chose a diagnostic software solution.

Mashup applications, which enable divergent data sources, business processes and applications to be combined and streamlined, are on the rise and poised to change the insurance IT landscape.

Hartford, Conn. – The Property Casualty Insurers Association of America (PCI) is urging Connecticut lawmakers to reject legislation (SB 288) that would prevent consumers from learning about the full range of their auto body repair options, increase repair costs and, ultimately, force motorists to pay higher premiums.

Mayfield Village, Ohio – Progressive is improving upon its truck insurance program with the addition of cargo and general liability coverage, the company reports.

Westlake Village, Calif. — The American Association for Long-Term Care Insurance recognized the nation's top-100 long-term care insurance producers this week at the 2008 National LTCi Producers Summit held at the Omni Hotel in Atlanta. Nearly 600 leading producers and marketers were in attendance at the Association's seventh national conference for members, the group reports.

After years of insurers pushing ePrescribing adoption, recent survey results show physicians may be more amenable to the idea.

New York — The latest study from New York-based Simon-Kucher & Partners, "Managerial Perspectives: Time for a Change! How Insurers Waste Profits due to Lack of Market Excellence," questioned 1,500 insurance executives in the United States about the management perspectives considered to be most important as well as those most frequently used in the industry.

State College, Pa. — Optical Image Technology Inc., (OIT) announced the appointment of Greg Cook from Michigan Millers Mutual Insurance Co. as the new co-convener of OIT's Technical Advisory Panel (TAP). TAP is comprised of 20 current customers from a variety of industries as well as technology partners who share market insight, exchange knowledge and ideas, and provide suggestions for enhancing DocFinity products and services to designated OIT staff. Two seasoned DocFinity users also are joining TAP, and will broaden the knowledge base of the advisory group. The leaders and members were elected by the panel members late in 2007.

New York – Ted Mathas was named CEO-elect by the board of directors of New York Life Insurance Co. He will succeed Sy Sternberg, who has been CEO for more than a decade, upon Sternberg’s retirement on June 30, 2008. Beginning July 1, Sternberg will remain chairman of the board of directors in a non-executive capacity, for a transition period.

Frisco, Texas — Skywire Software, a global provider of software and services to the insurance, financial services and legal and professional services industries, announced Carrie Kirby as VP, HR and chief people officer.

Hartford, Conn. — After a month-long trial in federal court that included six days of complex deliberations, five former insurance company executives were found guilty last week of taking part in a plan to manipulate the financial statements of American International Group Inc. (AIG).

Washington — American consumers want more from their health care system than they're currently getting—greater online connection to health care providers and medical records, customized insurance coverage and wider access to emerging innovations such as retail clinics, a new survey from Deloitte Development LLC reveals.

Mississauga, Ontario — York Fire & Casualty Insurance Co., the personal lines insurance arm of Kingsway Financial Services Inc., became Canada’s first insurance carrier to implement true XML real-time inquiry this month, claiming they answered the call from independent brokers who said they need real-time carrier communication to remain competitive.

Madison, Wis. — MemberCONNECT, CUNA Mutual Group's analytical approach to relationship building, provides credit unions with a direct marketing solution for auto and homeowners insurance. While the channel provides a tool for building member relationships on its own, it also is a complementary tool for credit unions with strong agency relationships.