Toronto-based The Manufacturers Life Insurance Co. has teamed up with CNN/Money Online to add investment information and educational content to its Web site, www.manulife.com/usa, for participants in 401(k) plans. CNN/Money Online is jointly produced by CNN financial services and Money magazine. Manulife USA's research has shown that quality of information, guidance and education are key drivers in 401(k) satisfaction.InSure Vision Technologies, Hot Springs, Va., and AMS Services Inc., Dallas, have integrated The SurePath Network (InSure Vision's Web-based bond processing service for agencies, their clients, underwriters and obligees ) and AMS Services' Sagitta Browser, an agency management system. The integration, which is based on XML, is currently being piloted and is expected to be ready for general release by late second quarter.
Dutch financial services giant AEGON has selected two investment subsidiaries of Chicago-based Morningstar Inc. to help construct products for distribution through AEGON's network of broker-dealers and financial advisors. Morningstar Associates LLC is providing investment research, fund manager selection, asset allocation, consultation and ongoing monitoring for four new Asset Allocation portfolios offered through IDEX Mutual Funds and the variable annuity and variable universal life products from Western Reserve Life Assurance Co. of Ohio and Transamerica Life Insurance Co. Morningstar Invesment Services Inc. is providing the Morningstarfi Managed Portfolios program to more than 1,100 investment advisors of InterSecurities Inc., AEGON's broker-dealer firm.
Gallagher Basset Services Inc., a property/casualty third-party administrator unit of Itasca, Ill.-based Arthur J. Gallagher & Co. announced its intent to acquire MountainView Software, a claims management technology provider based in Layton, Utah. MountView's primary product, ClaimZone, is a claims managing and reporting tool that enables users to track all aspects of a workers compensation claim.
Nekema Inc., Jersey City, N.J., and NetRate Systems Inc., Okemos, Mich., will provide property/casualty insurers private-label, real-time, online rating, quoting and binding for agents. According to the companies, Nekema's InsurePoint system includes an interview engine that generates "smart apps" ensuring carriers receive only completed applications that are nearly 100% quotable. Once completed, the application is rated through NetRate's rating engine. The data is then transmitted to the carriers' backend systems via XML, AL3 or ACORD/IAA-compliant messaging systems.
McCracken Insurance Solutions (MIS), Billerica, Mass., will develop a next-generation agency management system based on the Dragon platform provided by OneShield Inc., Woburn, Mass. The new system will support personal lines, commercial lines and employee benefits. It will be browser-based and include underwriting and submissions, policy management, integrated e-mail and word processing, accounting and billing and claims reporting. MIS plans to release the system in the third quarter this year.
Computer Sciences Corp., El Segundo, Calif., has formed a Strategic Technology Program with 12 clients that use CSC's CyberLife insurance administration system. CSC and the insurers have pledged $28 million for development of enhancements that will reduce the total cost of ownership of CyberLife and speed new insurance products and features to market. Expanded capabilities in areas such as XML input and output, browser views, and VP/MS product calculation engine integration are a few of the deliverables.
Insurance Services Office Inc. (ISO), Jersey City, N.J., and Seisint Inc., Boca Raton, Fla., have a licensing agreement to provide insurers' claims, special investigative units and subrogation personnel access to public records and data for in-depth searches on individuals and businesses. Under the agreement, insurers choosing the optional ISO service can use Seisint's Accurint family of data products through ClaimSearch, ISO's all-claims antifraud system.
Access Data Corp., a Pittsburgh, Pa.-based firm that provides managed hosting services for the financial services industry, acquired the financial services practice of Boston-based Atlantic Research and Consulting. Atlantic Research provides field research and tabulation services in syndicated and customer research to leading financial services industry clients.
Philadelphia-based The Penn Mutual Life Insurance Co. has implemented an interactive technology from Web-Ex Communications Inc., San Jose, Calif. WebEx's switch-based communications infrastructure supports interactive data, voice and video communications and will enable Penn Mutual to hold interactive training sessions and sales meetings through a standard browser.
The World Bank Group, one of the world's largest sources of development assistance, has joined as an affiliate member of LOMA, an international association of 1,250 insurance and financial services companies. Established in 1945, The World Bank Group provided $17.3 billion in loans to its client countries last year.
The online technology of AnnuityNet Inc., Leesburg, Va. is now available through Vision, a portal for financial advisors from DST Systems Inc., Kansas City, Mo. The two firms will integrate their software and align their marketing strategies for products aimed at the same market. DST's Vision is an interactive Web site for financial planners. AnnuityNet's application and workflow wizards are used to sell and service variable annuities.
Insurance Technology Solutions Inc., a Torrance, Calif.-based provider of Web-based insurance technology, has developed a compatible interface with the Internet Policy Production System (iPPS) from Dallas-based Docucorp International. With this new real-time module, insurance agents and companies using iPPS can rate, quote, bind and produce insurance policies.
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