Compensation
Compensation
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As insurers hatch strategies to comply with the Sarbanes-Oxley Act (SOX), a new report suggest that they should view the law "as a catalyst for much-needed and long-delayed business transformation objectives," triggering "long-overdue investments in technology they have been putting off for years."The report, by Needham, Mass.-based TowerGroup, says that Sarbanes-Oxley should not be viewed as a burden but as an opportunity. In the report, "Technology Considerations for Sarbanes-Oxley: A Catalyst for Long Overdue IT Upgrades," Virginia Garcia, TowerGroup analyst, writes that the act "blows the cover off inherent weaknesses in hodgepodge IT architecture typically found in U.S. financial institutions today.
March 1 -
There's no way around it: It takes a long, long time to develop the software programs for a new underwriting and billing system. Then throw into the mix the risk of the internally built system not working properly, taking longer to implement, and perhaps even draining cash flow."I've been in the business for about 30 years," says Mark Gire, vice president of information services for Norcal Mutual Insurance Co. "I've never seen it take less than four to five years" to develop a solution internally.
March 1 -
Donegal Mutual Insurance Co. has reaped many benefits from its system integration efforts over the years. Executives with the Marietta, Pa.-based provider of personal, farm and commercial insurance admit that their strategy of implementing component-based technology would not be successful without a strong emphasis on systems integration.For example, Donegal's systems integration efforts helped immensely when the provider went scouting for a document imaging and workflow system in 2001.
March 1 -
Worcester, MA--Kemper Auto and Home's Syracuse office and Blue Cod Technologies, Inc. of Worcester, MA announce the signing of a contract under which Blue Cod will be responsible for providing outsourced application and technical support for Kemper's New York Assigned Risk Automobile business. Blue Cod will host Allenbrook's Phoenix policy processing solution and provide it to Kemper Auto and Home over the Internet. Blue Cod will also build and maintain a number of interfaces to various external applications.
February 27 -
DALLAS--Docucorp International, a leading provider of enterprise information solutions, announced today the availability of Image Resource, an affordable content management and workflow solution, for the managing general agent (MGA) market.
February 26 -
INDIANAPOLIS--Anthem Employee Assistance Program (EAP), Anthem Inc.'s program designed to help companies maintain an emotionally healthy workforce, has made available a new Web site that provides instant access to various online resources and interactive tools to help employees better manage their work and home lives in an effort to improve or maintain their well-being. "An organization's success is dependent upon a physically and emotionally healthy workforce," said Marty Dubin, Psy.D., vice president, Anthem EAP. "The Anthem EAP Web site is completely confidential and provides streamlined access to a wealth of content and self-service capabilities to help provide guidance when facing life's stressful challenges."
February 25 -
Newark, Calif.--Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, has announced that it is providing funding for the first visiting research fellowship to be established at the new International Centre for Political Violence and Terrorism Research. The Centre is based at the Institute of Defence and Strategic Studies (IDSS) at Nanyang Technological University in Singapore, and was officially inaugurated on February 20 by Wong Kan Seng, Minister of Home Affairs in Singapore.
February 24 -
Conshohocken, PA--eMoney Advisor, a leading provider of holistic wealth planning solutions, today announced the availability of AdvisorPlatform Version 3.5. The new version offers significant upgrades to Version 3.0, which was released in January 2003, including streamlined data entry through the Fact Finder, simulated sales of an asset, "what if" scenarios versus base facts, and additions to the Client Financial Home Page. In addition, the new version includes an updated user interface for greater ease of use.
February 23 -
IVANS Inc., the Greenwich, Conn.-based provider of network and real-time solutions for the insurance industry, has released a study detailing the current state of insurance agent adoption of technology in the United States. The study, which received responses from more than 435 independent agents, revealed that an overwhelming majority of insurance agents (84.3%) prefer to work with insurance carriers that they consider "aggressive" in their use of new technology."The results of this survey are important because they show that recent advances such as real-time agency/company interface and use of broadband technologies have clearly dispelled the concerns from a few years ago about disintermediation of agents when embracing new technologies," says Maggie O'Hara, divisional vice president of offering management for IVANS. "In fact, if anything, these technologies have helped convert agents into huge technology proponents that now hunger for more positive change."
February 23 -
ATLANTA--Ebix Inc., a leading international supplier of software and e-commerce solutions to the insurance industry, announced that it has completed its acquisition of LifeLink Corp. Inc., adding hundreds of brokers and approximately 35 life insurance companies as customers.
February 23 -
Salt Lake City, Utah--Castle Data Services has signed an agreement with Allied Insurance Company, a member of Nationwide, to provide them with replacement cost data through the use of Castle's online replacement cost estimator.
February 20 -
Exstream Software, Inc. today announced that Richard Troksa has joined the company as vice president of business development. Mr. Troksa brings to Exstream over 19 years of experience in development, strategic planning and marketing segmentation focusing on software and service solutions for the printing market. Troksa will help Exstream expand into new channels and vertical markets by developing and managing business partnerships, strategic alliances and independent software vendor (ISV) relationships. Exstream has developed an impressive number of strategic partnerships over the past several years that include IBM, Xerox, Hewlett Packard and Böwe Bell & Howell, and plan continued growth in this area.
February 20 -
SAN RAMON, Calif.--ADP Claims Services Group, a leading provider of integrated business solutions for the property and casualty, collision repair and automotive recycling industries, announced today Frontier Adjusters, Inc., a national provider of independent adjustment and appraisal services, has chosen PenPro as its auto appraisal software provider.
February 19 -
ATLANTA, GA-- Knowlagent, the exclusive provider of software solutions that build best performers fast in customer service centers, announced today that its largest healthcare customer has rapidly and successfully deployed the Knowlagent Agent Performance Solution to thirteen call centers across the United States and offshore markets.
February 18 -
CONYERS, GA and SAN MATEO, CA- ImageRight, a provider of document management and workflow solutions for insurers, and Guidewire Software, Inc., a provider of claims solutions to property and casualty insurers, today announced the immediate availability of an integrated claims processing and document management solution for the insurance industry. In addition, Guidewire has joined the ImageRight Business Alliance as a Gold Partner.
February 18 -
Nearly 2,700 American technology workers in 12 states will receive advanced information technology job training in the coming months in programs administered by CompTIA, the Computing Technology Industry Association, Oakbrook Terrace, Ill.CompTIA has received two grants totaling $6 million from the U.S. Department of Labor Employment & Training Administration. The H-1B Technical Skills Training Grants are intended to train U.S. workers in specialty occupations such as computer science, information technology, engineering and advanced manufacturing technology.
February 18 -
Although the hype surrounding offshore insurance business process outsourcing (BPO) is rising, insurers are reluctant to "go there" with their core processes. Meanwhile, the vendors have not yet proven their domain expertise. This is according to recent research conducted by Stamford, Conn.-based Gartner Inc.
February 13 -
Cambridge, MD--G. Philip Feldman, CEO of technology insurance provider ISG International, announced today that the company has launched breakthrough technology on its CCBsure Web site that provides Businessowner's Property and Casualty (P&C) Liability insurance coverage to independent computer consultants, in real time, over the Internet. No insurance provider has ever offered immediate, automated P&C business insurance coverage before.
February 12 -
Uniondale, NY--OnlineBenefits, Inc., provider of Internet-based HR solutions, announced today that it has entered into a long-term strategic partnership with Digital Insurance to distribute Benergy as an employee communication solution for its clients.
February 11 -
NASHUA, N.H. -- SkillSoft PLC, a leading provider of enterprise e-learning, today announced that Humana Inc., one of the nation's largest publicly traded health benefits companies, signed a two-year agreement to license a SkillSoft multi-modal learning solution. The integrated solution encompasses more than 1,000 e-learning courses spanning a variety of IT technologies and desktop applications; 24x7, online mentoring support for IT professionals; and more than 3,000 online, unabridged Referenceware titles. With multi-modal learning, professionals can access a variety of formal and informal learning resources through a single, unified search and then select the appropriate resources based on information needs, available time, and learning preferences.
February 10