Compensation
Compensation
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Anthem Blue Cross and Blue Shield and Accenture are testing digital pen technology designed to help healthcare professionals capture and send medical claim information digitally. The solution, which is designed to complement physicians' hand-written claims process, was introduced in a two-phase pilot with Anthem plans in Indiana and Kentucky.In the first phase, health care professionals are using the pen to file claims electronically in conjunction with a desktop computer. Claims are written on specially designed digital paper forms that enable electronic data capture. The data is then uploaded electronically via a desktop computer to Anthem.
July 15 -
WHITE PLAINS, N.Y.--Cybersettle, the world's number one online settlement company, has been selected by CNA, the fourth largest U.S. commercial insurer, as its online settlement partner to assist with the quick resolution of commercial insurance claims.
July 13 -
SAN FRANCISCO--California State Compensation Insurance Fund's anti-fraud program has enabled statewide district attorneys to win more than $5 million in restitution orders. The restitution judgments are a direct result of 155 premium fraud convictions during the last six years.
July 12 -
NEEDHAM, MA--Until recently, regulatory compliance has been a relatively straightforward issue for U.S. insurance companies. Long deemed a service for the "public good," the insurance industry has been regulated by various entities for over 100 years - making compliance as commonplace as breathing for most insurers.
July 7 -
SAN FRANCISCO--Esurance, a direct-to-consumer personal auto insurance company, has selected ProcessClaims to provide a customized software management platform to support Esurance's expanding claims organization. Esurance believes that ProcessClaims' ClaimsPort material damage management system will increase claims handling efficiency, decrease cycle time costs, and scale with Esurance's rapid growth.
July 2 -
Forty-six percent of U.S. insurance organizations identified the lack of historical databases as a major cause of poor claims management, according to a recent customer poll conducted by Insurance Services Office Inc. (ISO), Jersey City, N.J. This follows an earlier ISO poll in which 78% of insurance organizations said reducing the rising cost of claims handling is their single most important goal for 2004.The poll asked insurance organizations to identify the most likely reason for paying injury claims incorrectly. Of the five options, just under half (46%) identified lack of historical databases as a major cause, and 20% cited lack of medical knowledge as the second most probable reason. Sixteen percent said inadequate negotiation skills, while 13% cited claims adjusters' inexperience.
July 1 -
Following the first quarter of integration activities, Prudential Retirement, a business of Prudential Financial, Newark, N.J. has moved out of the initial planning phase of integration and is now focused on the next phase, implementation of enhanced products and services for the retirement markets it serves."In just about 100 days, we've built the foundation for a new, stronger, and more dynamic Prudential Retirement," says John Y. Kim, president of Prudential Retirement. "In fact, strategic plans have been completed for all full-service retirement businesses, each of which is now working hard to enhance existing products and develop new ones," he adds.
July 1 -
New York--The Catastrophe Risk Exchange International, Inc. (CATEX) announced today that it has completed delivery of a Web based Property Aggregate Monitoring System to facilitate the underwriting of facultative property business by the reinsurer QBE Reinsurance Corporation (QBE).
June 29 -
SOMERS, NY --IBM today unveiled new PartnerWorld Industry Networks for independent software vendors (ISVs) focused on the government and insurance industries. IBM also introduced new technical offerings and expanded initiatives that can help ISVs participating in the PartnerWorld Industry Networks speed solution development and ensure interoperability with IBM's middleware portfolio.
June 28 -
NEW YORK-- Swiss Re's chief economist said today that strong economic growth, coupled with a slight uptick in inflation, will force the Federal Reserve to raise the federal funds rate to close to 2 percent by the end of 2004.
June 22 -
SPOKANE, Wash.-- Itronix Corp., a developer of wireless, rugged mobile computing solutions, announced today that its GoBook II wireless, rugged laptop has been certified by the insurance industry's top three software providers, including ADP Claims Services Group, a wholly owned subsidiary of Automatic Data Processing, Inc., CCC Information Services Inc., and Mitchell International Inc.
June 21 -
ATLANTA-- SellingLTC.com, LLC, the leader in providing long-term care sales and marketing solutions for insurance producers, today announced the release of its new LTCI Mobile Support feature which allows SellingLTC.com subscribers to download the best of SellingLTC.com's sales support modules to a laptop computer and access the information even when it's not possible to access the Internet.
June 16 -
NEW YORK -- Technology has become critically important to how insurers manage risk, share information with producers and support Internet sales and customer service, a panel of carrier CEOs said June 16 at Standard & Poor's 20th annual insurance seminar in New York City.
June 16 -
Worcester, Mass.-based Allmerica Financial has selected Clarity IT service configuration management software from Relicore Inc., Burlington, Mass., for enhanced change management capabilities for some of Allmerica's most mission-critical business applications.Allmerica is using Relicore Clarity to track operational changes in its point of sale and underwriting workflow systems used by its independent insurance agents to originate and change policies. Allmerica's initial implementation is focused on gaining better control of hardware and software configurations, with a future goal of ensuring that IT staff members are proactively notified of changes that happen outside of approved change windows, and that they fully understand the impact of proposed changes to this environment prior to implementation.
June 15 -
In their quest to expand their long-term care (LTC) products lines, many insurers have been challenged not only by the risk management and underwriting aspects of the coverage, but they've also struggled with finding the best agents tp market this coverage.
June 15 -
Manulife Financial Corp., Toronto, has selected CGI Group Inc., Montreal, to create an information technology support centre in Halifax, Nova Scotia. The mission of this centre of expertise will be to provide systems development, maintenance and integration services to Manulife and other CGI clients in the U.S. and Europe.The memorandum of understanding, when finalized as a contract, would be valued at $120 million (Canadian) for a five-year agreement. As part of the agreement, 300 Halifax-based technology professionals will join CGI in September 2004. Over time, CGI expects to grow employment at the centre to 500 technology professionals.
June 10 -
EXTON, Pa. -- Guarantee Trust Life Insurance Company's (GTL) Impaired Risk Division has contracted with iPipeline to syndicate their insurance forms and product information to its distributors' Web sites. GTL Impaired Risk has also taken advantage of iPipeline's proprietary Web-based forms and database software, as well as their Web professional services to completely redesign its Web site, giving GTL's impaired risk producers greater access to the tools they need.
June 10 -
DriveCam Video Systems, a San Diego-based developer of fleet safety technology designed to improve driving behavior, reported a 120% increase in revenue for the first quarter 2004 over the same period in 2003 due to growing demand for its products and services.To support demand, the company has added new staff in safety services, sales, engineering, product management, customer service and administration while increasing its facilities. The new staff members will work with DriveCam fleet customers to maximize the results of the DriveCam Driving Feedback System in reducing collisions and lowering operating expenses.
June 8 -
ICICI Infotech Ltd., an Edison, N.J.-based IT solutions provider, has signed an agreement to implement its PREMIA 10.0 system for Comercial America Insurance Co. (CAIC).PREMIA 10.0, has been tailored for the U.S. insurance industry, and combines a modular application software solution with a single, integrated system. Beneath a consistent presentation layer, PREMIA 10.0 provides business functionality that supports rating, quoting, underwriting, binding, billing, endorsing (including out-of-sequence), claim administration, reinsurance management, and general ledger accounting. PREMIA 10.0 also delivers enhanced reporting and an improved capability to integrate with existing systems.
June 7 -
Computer Sciences Corp. (CSC), El Segundo, Calif., has signed a seven-year agreement with Trinity Universal Insurance Co., a subsidiary of Chicago-based Unitrin Inc. CSC will support Unitrin Multi Lines Insurance's commercial lines of insurance with business process outsourcing (BPO) and Internet-based services.A CSC client since 1982, Unitrin Multi Lines Insurance, which provides insurance products in 30 states, used CSC's technology to establish its X-Sell-A-Rate agent Web site two years ago. Under the new agreement, CSC will help Unitrin extend its Web capability to include a full range of commercial insurance services to more than 2,000 independent agents.
June 4