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Columbia, S.C. - BlueCross BlueShield of South Carolina won a bronze World Wide Web Health Award for its online precertification, a feature on the company's Web sites that allows hospitals and physicians a quicker, simpler way to obtain authorizations.The World Wide Web Health Awards recognize the best health-related Web sites for consumers and professionals. The Health Information Resource Center (HIRC), a national clearinghouse for consumer health information programs and materials, organizes the program.
March 10 -
Wakefield, Mass. - Darwin Partners Inc., a provider of a range of IT services to Fortune 1000 companies, and Suzsoft Co. Ltd., a China-based provider of outsourced application development, quality assurance, and localization services, have announced plans to merge.Founded in 2001, Suzsoft is privately held and has grown rapidly to become a leading IT outsourcing platform in China specializing in several industry verticals, including financial services, health care, technology, insurance and telecommunications.
March 9 -
Armonk, N.Y. - The IBM Chief Finance Officers Study of 900 senior finance executives worldwide reveals only 14% of insurance respondents rate themselves highly effective in supporting the CEOs efforts to grow the company.The study, developed in co-operation with The Economist Intelligence Unit, finds that at a huge cost to the future competitiveness of companies, almost 50% of executives report finance staff are tied up in transactional activities such as processing accounts and tax transactions, with only a quarter of staff focused on decision support--performance and growth focused activities. Furthermore, respondents state 64% of Insurance finance organizations do not have robust processes and activities in place to support growth.
March 8 -
Boulder, Colo. - Carriers may need to prepare for a storm that has the capability to affect GPS systems and create blackouts. Using a computer model of solar dynamics, scientists at the Boulder, Colo.-based National Center for Atmospheric Research (NCAR) are predicting the next sunspot cycle to be 30% to 50% stronger than the last one and begin as much as a year late. Predicting the sun's cycles accurately, years in advance, will help societies plan for active bouts of solar storms, which can slow satellite orbits, disrupt communications and bring down power systems.
March 7 -
Washington - The National Association of Professional Insurance Agents (PIA), a Washington, D.C.-based national association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses, has reaffirmed its opposition to any proposals that call for a so-called "optional" federal charter for insurers.
March 7 -
Glastonbury, Conn. - Open Solutions Inc., a provider of integrated, enterprisewide data processing technologies for banks and credit unions, today announced that it has completed its acquisition of the Information Services group of New Jersey-based The BISYS Group Inc., a provider of outsourced solutions to investment firms, insurance companies and banks.Open Solutions believes that this transaction will enable it to expand its product offerings, further increase its presence in the financial services marketplace and extend its client base to include the healthcare, insurance and corporate finance industries. Under terms of the completed agreement, Open Solutions purchased the Information Services group for a total cash consideration of approximately $470 million, subject to adjustment.
March 6 -
Brookfield, Wis. - Fiserv Inc. has acquired certain assets of CT Insurance Services and CCH Wall Street, two product lines of Wolters Kluwer Financial Services. The acquisitions, which include Xchange, Securities Registration and Producer Licensing software from CT Insurance Services and the Financial Training product line from CCH Wall Street, will add online application capabilities for insurance licensing and securities registration, along with NASD exam preparation courses to Fiserv's suite of products. Terms of the asset purchase were not disclosed.CT Insurance Services is a provider of enterprisewide systems for insurance licensing and securities registration. The Web-based systems from CT Insurance Services capture data at the origination point, enabling the filer to prepare and submit licensing and registration filings electronically. The Financial Training solutions from CCH Wall Street provide NASD Exam Preparation, including an interactive virtual learning environment, and innovative in-person and self-study solutions.
March 3 -
Denver - InsureMe, an insurance marketing company delivering leads to agents, has unveiled the InsureMe Agent Blog, which is designed to provide industry information to insurance professionals.A Web log, or "blog," is a self-published journal, made accessible to the public via the Internet. Unlike corporate Web sites, blogs are generally less formal and more interactive; the author posts an article and readers can respond with comments and questions.
March 2 -
CONTRACTOR MANAGEMENTBlue Cross and Blue Shield of Florida, a Jacksonville-based health plan provider, has selected Beeline.com Inc. to automate and streamline the company's IT contractor staffing processes. Jacksonville Beach, Fla.-based Beeline automates the life cycle of contractor engagements, including job order creation and distribution, screening, supplier management, time capture, invoicing and reporting.
March 1 -
Today, various high-tech systems, such as GPS and online map services, help people navigate the physical world, taking the guesswork out of the task of getting from point A to point B.People can now go online, type in some address criteria and a map is generated instantly, detailing critical intersections, which way to go and when to turn. What the claims world needs is an analogous system-one that helps the claims adjuster navigate the complex terrain of business and regulatory requirements.
March 1 -
Before they landed triple Axels, they learned how to balance on a blade and skate across the ice. Before they attacked moguls at blazing speeds, they cruised down relatively flat planes. Before they maneuvered a puck all the way across the rink while weaving through opponents from the other team, they learned how to carry a stick while skating across the ice.Sure, much of what viewers saw at the recent Olympic Games in Torino, Italy, involved the awe-inspiring skills of elite athletes. All of these competitors, however, mastered the basics first. Many other athletes-think weekend warriors-never move much beyond these fundamentals.
March 1 -
Everyone loves a story about the "little guy" who succeeds. From the children's classic The Little Engine that Could to numerous business books that describe how a couple of college buddies put a couple of bolts together in their garage and invented something that turned them into millionaires, tales of human perseverance and redemption touch a deep chord in the soul.This is one of those stories. It's about a group of four IT people at CUNA Mutual Group who faced what seemed an almost impossible feat. They were charged with custom-building a customer relationship management system in six months with a budget of $1 million.
March 1 -
Rapid growth. It's a "problem" most companies would welcome. Yet, along with accelerated growth comes a bevy of new challenges. At Geico and its affiliated companies, for example, when written premiums grew from $4.1 billion in 1998 to $4.9 billion in 1999, the company had to process twice as many agent licenses with state insurance departments-just to keep enough agents on the phones selling auto policies."In one year, we jumped from about 27,000 active licenses and 48,000 appointments to 55,000 licenses and 115,000 appointments," says Dan Corridon, director of licensing administration at Government Employees Insurance Co. (Geico), the Chevy Chase, Md.-based direct insurer. "We needed a system that was going to do more for us than what we were using."
March 1 -
Shortly after I returned from IsoTech last November, I received one of those forwarded "chain" e-mails. Unlike most chain e-mails I receive, I actually read this one, and, surprisingly, it pertained to a controversial topic that came up at ISOTech during the roundtable session, titled "The Next 'Killer Technology' in Insurance."Panelist Kevin Kelly, managing director, U.S. insurance industry, Microsoft Corp., said he thought sensing technologies were the next killer technology, and he described how radio frequency identification devices could be attached to people or assets to enable the industry to obtain a plethora of information about who or what it's insuring. "There's a privacy element," he admitted. "But people will give up some privacy for convenience."
March 1 -
The customer comes first. We've all heard that phrase, but many insurers would be hard-pressed to prove it's a strategic and tactical reality.Why? A number of carriers implementing customer relationship management (CRM) systems are hopeful that CRM's ability to provide profiling, micro-segmentation, and predictive analysis to reveal the preferences and proclivity of customers will help maintain their existing customer base and drive new business.
March 1 -
ON-DEMAND CALL CENTER SERVICEAgents OnDemand is a service designed for three key industry vertical segments-travel, healthcare and financial services-by Working Solutions Inc., a Plano, Texas-based provider of remote agent call center services to Fortune 1000 companies. According to Working Solutions, Agents OnDemand enables contact centers to respond to fluctuating call volumes by leveraging knowledgeable agents when needed.
March 1 -
HUMANA PROVIDES PRESCRIPTION BENEFITS SUMMARYLouisville, Ky.-based Humana Inc. has developed SmartSummary Rx, an in-depth, monthly prescription benefits summary tailored to individual Medicare members. As a companion to the SmartSummary program for commercial members, SmartSummary Rx provides Humana's Medicare enrollees with guidance on cost-savings opportunities, a consolidated prescription claims record and tools can help them budget for future health care and prescription spending.
March 1 -
The insurance industry, long saddled with paperwork-intensive processes, has become prime turf for enterprise content management (ECM) solutions. ECM is the catchall phrase for what was originally a plethora of solutions, ranging from imaging systems to records management.To carriers seeking to expand their business lines and speed up processing at as little additional cost as possible, content management may be more than some glitzy new technology; it may fundamentally change the nature of the insurance business.
March 1 -
Insurance Networking News recently interviewed Joe Clabby, vice president, server and storage systems strategies, at Summit Strategies Inc., a marketing strategy and consulting firm based in Boston. Clabby has a strong background in networking, systems platforms, operating environments and business application reengineering. He has been in the computing industry for more than 25 years, and has written numerous reports, including "Staring Down the Storage Sinkhole."INN: You describe the current state of storage as a "fragmented morass of data management, storage management, back-up and recovery, as well as related technologies, management tools and manual processes." How did we get in this mess?
March 1 -
Ten years have passed since the Web made its debut, threatening to eliminate intermediaries in the insurance sales process. But, after all these years, only a small percentage of insurance consumers actually purchase their policies online.The Internet has evolved, however, and it serves an important role in insurance.
March 1