Insurance

Assurant turns its focus to property-casualty coverage, including policies that protect consumer electronics and homes.

Swiss insurer Basler Versicherung AG Schweiz has implemented Guidewire’s PolicyCenter and BillingCenter, as well as Guidewire’s Client Data Management and Rating Management applications, to support its property line of business, Guidewire said.

The application includes a flow of claims data and information with the insurer’s claims administrator, CatManDo Inc.

Businesses have traditionally delivered complex documents to their customers using print delivery or electronics of the same printed output. This approach is not ideal for the mobile world where this highly regulated content must be viewable, actionable, and compliant across all of the devices that consumers use today.

Coventry First LLC illegally marked up prices on hundreds of investments that bet on when people would die, an American International Group Inc. unit said at the start of a fraud trial in New York.

The UK-based Insurance aggregator has launched a point-of-quote fraud detection and prevention service that combines its customer and quote database with Iovation’s Risk Solution, which assesses the likelihood of based on the current and past behavior of a smartphone, tablet or laptop.

The company’s new Prime initiative releases unbound web quotes to independent agents.

GameChanger Suite now includes features and functionality for agency administration and maintenance intended to simplify tasks such as license management, creating flexible commissioning structures, and conducting agency bank account sweep for commission payments and clawbacks.

Three-quarters of respondents to a Towers Watson survey of P&C claims leaders cited effective implementation of data and analytics as a challenge.

Curt Kibler will oversee the e-Business department, including development, systems operations, business intelligence and reporting, carrier profitability, project management and quality assurance. Dan Bryce, who has been CIO since 2000, will be retiring later this year.

By asking the right questions, and offering the time to understand and explain coverages to consumers, independent agents are creating value to consumers, says Bill Wilson, CPCU and associate VP of education and research for Independent Insurance Agents & Brokers of America. In the second part of this exclusive interview, Wilson discusses Google Compare, the differences in policies, and how insurers can differentiate themselves in a crowded field.

Texas Mutual Insurance Company, provider of workers’ comp insurance, has selected Guidewire’s DataHub and InfoCenter to support its enterprise-wide data management and business intelligence strategies, Guidewire said.

Clements Worldwide, provider of international car, property, term life, health, specialty and high-risk coverages for expatriates and international organizations, has deployed a direct-to-consumer portal using ISCS’ SurePower Innovation. The insurer completed the implementation of the policy, billing, claims and underwriting components of SurePower Innovation last year.

Several carriers gave insight into their technology strategies in their second quarter earnings calls. Here are the highlights.

As direct sales, online comparative raters and insurance aggregators gain visibility in the U.S. market, independent agents continue to offer value to both consumers and insurers, says Bill Wilson, CPCU and associate VP of education and research for Independent Insurance Agents & Brokers of America. In the first part of this exclusive interview, Wilson discusses trends in insurance distribution, the differences in claims experiences and the fact that not all policies are created equally.

Answering these questions can help carriers determine their paths given changing customer needs and a more competitive landscape, according to “Capturing the insurance customer of tomorrow,” a white paper from Accenture.

Over the next few years, technology will play a vital role for commercial lines insurers as prices firm and new insurers enter the marketplace.

ADP is introducing an online service known as a private exchange that will let workers shop for insurance coverage among multiple health plans, much the same way consumers can select policies on a government-run exchange under Obamacare.

Latest version of insurers' EACCESS portal features policyholder capabilities in addition to agents.

Insurance broking and risk management firm Marsh has agreed to acquire Dovetail Insurance, provider of insurance technology services for the U.S. small-commercial market. Terms were not disclosed.