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New Haven, CT--Metaserver, Inc., a leading provider of business process integration (BPI) solutions for the insurance industry, today announced the release of iConnect 2.0 for P&C, the latest version of its agency interface solution for Property and Casualty carriers.
October 12 -
Growing market share and reducing costs currently are the most important business objectives for life insurers, a new survey reveals. The study, conducted by SOLCORP, DSPA Software and Whitehill Technologies, reveals that 77% of executives polled believe that the best means to improve profitability and revenue are to increase their market shares while reducing overall expenses.
October 7 -
NEW YORK--MetLink, MetLife's state-of-the-art employer benefits administration portal, has received a Web Marketing Association 2004 Standard of Excellence Web Award. This annual award competition judges corporate Web sites against an overall standard of excellence related to design, innovation, content, technology, interactivity, navigation and ease of use.
October 7 -
AUSTIN, TX--Webify Solutions, a provider of On Demand Applications for the insurance industry, today announced that Fireman's Fund Insurance Company (FFIC), a leading provider of property and casualty insurance products, has selected and begun to implement Webify's service oriented business applications.
October 6 -
ALPHARETTA, Ga.-- ChoicePoint, a provider of identification and credential verification services, today announced its acquisition of InsurQuote, a leading provider of insurance rating solutions to the property and casualty carrier markets.
October 6 -
University Park, IL--Vista Equity Partners and James P. Kellner have acquired Applied Systems, Inc., the insurance software company born 20 years ago in suburban Chicago as a one-product, home-based business that grew to become the leading provider of automation solutions in the property and casualty insurance industry.
October 5 -
Regional insurer Grange Insurance Cos. hit the $1 billion revenue mark at the end of last year. Chairman of the Board Edwin Billman attributes the feat to the company's commitment to "ease of doing business.""That's what Grange is all about," says Sherri Rarey, assistant vice president, agency interface, at the Columbus, Ohio-based insurance company. "We are all about making it easier for agents to do business with us. We even trademarked the expression."
October 1 -
The saying goes: "If you want something done right, do it yourself." And, when it comes to sales and marketing analysis, risk management and financial reporting, insurance analysts, managers and executives are taking matters into their own hands-thanks to software that gives them immediate access to corporate data.Instead of waiting in line for an IT department to generate static (often paper) management reports, more and more insurance companies are employing business intelligence tools to interact directly with the data they need for planning and decision-making.
October 1 -
Technology has undeniably simplified how independent agents receive and send information to insurers. But the high expectations that accompanied the development of real-time interfaces and Web portals hasn't been achieved largely due to this simple fact: Insurers are faced with a Catch-22 dilemma. Many aren't inclined to aggressively roll out real-time capabilities to agents unless they're certain agents will use the services. But the trouble is, many insurers can't be sure.As a result, carriers continue to pin their hopes of program adoption on their preferred agency partners-using these agencies as a testing ground for future expansion. To be sure, independent agencies that have developed an affinity for technology are championing these carrier and vendor-led e-services programs and using their influence among fellow agencies to embrace adoption.
October 1 -
Although insurers' Internet experience is less than a decade old, it quickly has become an important channel for consumers and agents. This month's issue highlights the progress that insurers have made in developing e-business solutions, and some of the shortcomings that need to be addressed.Recent studies by J.D. Powers & Associates and Changes Sciences Group Inc. suggest that leading auto insurance Web sites are doing a good job of satisfying Web consumers' desire for quick, accurate quotes, online support for claims, and detailed product descriptions. However, the report shows there are some big-name laggards that need to improve their online quote-and-rate process, their Web site navigation, and their ability to provide specific answers to auto shoppers' inquiries.
October 1 -
The Internet is the preferred vehicle of choice among auto insurance shoppers. But some big-name insurers' Web sites aren't designed to entice consumers on the information highway.That's the conclusion drawn by two separate reports, one benchmarking key features and offerings from 14 auto insurance providers, and the other measuring consumer satisfaction of 23 leading auto insurance providers' Web sites. The reports indicate that the leaders' are doing a good job of satisfying Web consumers' desire for quick, accurate quotes, online support for claims, and detailed product descriptions.
October 1 -
As insurers in September mobilized their claims efforts following three powerful hurricanes, many insurers came to the realization that risk assessment for hurricanes is under closer scrutiny. Some insurers that conduct business in Florida might be best served reassessing their strategies to reduce their exposure to risk.An actuarial executive for one Florida-based insurance company asserted that the industry needs to have a better grasp of the cyclical nature of hurricanes. The industry must also better understand hurricane frequency over a short period of time, such as the three hurricanes--Charley, Frances and Ivan--that walloped the U.S. mainland in just over one month's time.
October 1 -
As it relates to their online activities, insurance companies are jeopardizing their relationships with customers by failing to protect the privacy of their personal information.That's according to the Customer Respect Group, a Bellevue, Wash.-based research firm that studies how corporations treat customers online.
October 1 -
The Contracts Update section includes announcements of contracts insurance information technology companies have signed with customers in recent weeks. Contract news can be faxed to Insurance Networking magazine at (312) 913-1366 or by electronic mail to Stephen.Dwyer thomsonmedia.com CGI Group Inc.
October 1 -
It's a logical concept: Where, when and how people drive their cars affects whether or not they're likely to have an accident. But the insurance industry is just beginning to determine how driving behavior correlates with risk.
October 1 -
Cash-strapped and under-staffed human resource administrators urgently need help. They don't have the time or inclination to enroll employees, deal with evidence of insurability, or handle personal employee health information.
October 1 -
With almost every software vendor scrambling to reposition products to address the Web services technology paradigm, Web services have arguably become the hottest phenomenon in today's IT market.But in the stampede to get on the Web services bandwagon, the definition of Web services has become so corrupted and abused that the true meaning has been lost and the value often misunderstood.
October 1 -
Electronic submission of workers' compensation, commercial auto and general liability applications will soon become easier than ever for most Wausau Insurance producers, brokers and agents. Building on its current Applied System's interface, Wausau can now accept submissions from the AMS Sagitta Browser and AFW Online products.
October 1 -
WASHINGTON-- How much life insurance do I need? What does long-term care cost in my area? Should I buy disability insurance?
September 29 -
NEW YORK --Even before the full impact of the recent hurricane activity is known, the majority of the 150 senior insurance executives surveyed are less optimistic about premium growth and the industry's ability to increase margins, according to KPMG LLP.
September 29