Insurance

CEO Tom Wilson and other execs provide a window into how big insurers take digitalization front-and-center.

While commercial lines rates remain flat, auto and other personal lines insurance rates are going up a couple percent at a time, according to Marketscout research.

The Canadian insurer will deploy ClaimCenter across all its lines of business, which include home, auto, business, marine, and travel.

100-year-old P&C insurer to deploy cloud-based SurePower Innovation enterprise suite in effort to modernize and automate policy admin processes.

Research from the company finds that 31% of insurance companies are already using wearable technology to engage customers, and two-thirds expect broad adoption of the technology within two years.

AIG, which is already using drones for inspections in New Zealand, is among the companies leading the charge for clear drone rules.

Doug Cretsinger, CIO of the commercial lines insurer, says that as the carrier ramps up for the future, there's lots of potential to leverage telematics and the Internet of Things even among its customer base of nonprofits.

With cloud adoption among insurers at a "tipping point" according to industry observers, we asked carrier technology leaders what the key drivers for cloud investment are at their companies.

More insurers are choosing cloud-based systems rather than traditional mainframe deployments for the next generation of their core processing software.

The U.S. Centers for Medicare & Medicaid Services hasn’t yet put out final figures on the risk corridor program, S&P said.

New president of North American life insurance Cheryl Neal led a life division at Liberty Mutual and has also worked at HSBC and Morgan Stanley.

The selection is a sign that more large insurers are exploring vendor-provided suites for core systems.

The company will leave health insurance and focus on P&C next year regardless of whether or not there is a buyer for its business, it says.

So many systems we view look like they screens were designed by a programmer and, worse, could only be used by a programmer.

Security, cloud and infrastructure top the list, according to Janco Associates, and recent cyber attacks and data breaches demonstrate the need for continuous reviewed and revision.

Insurer intends to improve internal and external users’ experience with a cloud based implementation, Sapiens said.

Less than 1 percent of the losses are covered by insurance, according to Kinetic’s initial data from the main quake. The estimates exclude costs for immediate needs such as food.

Workers comp insurer intends to automate processes and enhance its capabilities for agent and customer service.

While many aging, generally mainframe-based systems, remain capable of supporting basic policy processing and accounting functions, the costs associated with enhancing them are becoming increasingly problematic.

The Automated Mobile Hail Estimating device uses high-definition cameras to accurately estimate hail damage.